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'"The package requires substantial stockholder value creation in order to realize its targeted value," Intel said in its new proxy statement.'

Or substantial inflation. Doubling in 5 years reflects roughly a 14% CAGR. Given the current US inflation rate, he's already more than halfway there without doing a thing. And meanwhile the shareholders don't benefit at all from higher stock prices except by becoming ex-shareholders, while Gelsinger can manipulate the books to convince the market of whatever he wishes to feather his own nest. The board should be ashamed of themselves; this compensation structure has been proven to create perverse incentives and reward managers for outcomes unrelated to their work. Instead he should be given some number of perpetual but non-transferable dividend rights each day he works for the company. If what he builds is strong and lasting, he will reap the rewards alongside the rest of the shareholders for many years to come regardless of market fashions or macroeconomic policy. If it is all price manipulation, inflation, and short-term results at the expense of long-term profits, he will end up with little or nothing. It's especially silly in this case given that the turnaround plan consists primarily of long-term investments (usually a good idea!); Mr Gelsinger ought to have preferred such a compensation plan himself.