Form 4: Qualcomm Director Irene B. Rosenfeld Receives Deferred Stock Units

Director Irene B. Rosenfeld receives 1,624 deferred stock units from Qualcomm as part of the 2024 Director Compensation Plan.

Summary

• Irene B. Rosenfeld, a director of Qualcomm, was granted 1,624 deferred stock units on March 5, 2024.
• These units are part of the Qualcomm Incorporated 2024 Director Compensation Plan.
• Each deferred stock unit represents the right to receive one share of Qualcomm's common stock.
• The deferred stock units are fully vested on the grant date.
• The units will be settled in shares of Qualcomm's common stock (and potentially partially in cash) upon separation from service (no earlier than the third anniversary of the grant date), death, disability, or a change in control.
• Following this transaction, Rosenfeld directly owns 7,772.338 deferred stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine director compensation transaction, which is generally viewed neutrally to positively as it aligns director interests with shareholders.

Positives

• The grant of deferred stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service and commitment to the company.

Future Outlook

The deferred stock units will be settled in shares of Qualcomm's common stock (and potentially partially in cash) upon separation from service (no earlier than March 5, 2027), death, disability, or a change in control.

Industry Context

Director compensation packages often include stock-based awards to incentivize performance and align director interests with shareholder value. This grant is a standard component of Qualcomm's director compensation plan.

Comparison to Industry Standards

• Deferred stock units are a common form of equity compensation for directors in publicly traded companies, including technology firms like Qualcomm.
• Companies such as Apple, Microsoft, and Intel also utilize similar equity-based compensation plans for their board members.

Stakeholder Impact

• The grant of deferred stock units aligns the director's interests with those of the shareholders, potentially leading to better corporate governance and decision-making.

Key Dates