Objectively applying the 234 transparency criteria to the five disclosure documents we track during our “Transparency Awards” process, Intel came up as the big winner this year after coming in fourth last year (and in first the year before that). The Big Kahuna! Here’s their 2024 proxy statement; the 2023 Form 10-K; and the 2023-2024 Corporate Responsibility Report.
Bearing in mind again that the criteria are objectively applied, here are five reasons – among many others – why the company’s disclosure documents are so fine:
- The proxy statement has a strong introductory section that includes this “Letter from the Board Chair” (who is independent):
2. Also included in that strong introductory section of the proxy is this “Introduction to Our Business” that provides a comprehensive section on mission, vision, purpose and the company’s strategy:
3. Across the company’s primary disclosure documents, there is a consistency that is noticeable, telling the company’s transformation story.
4. In the Form 10-K, the visuals used are well crafted and have the appropriate length, providing the right level of context, like this one:
5. In the corporate responsibility report, there is this nice graphic to depict board oversight and supporting the ESG governance structure at the executive, management and working group levels:
