Form 4: Qualcomm Director Jamie S. Miller Reports Acquisition of Deferred Stock Units

Director Jamie S. Miller reports the acquisition of 1,624 deferred stock units in Qualcomm, fully vested upon grant.

Summary

• On March 5, 2024, Jamie S. Miller, a director of Qualcomm Inc., acquired 1,624 deferred stock units.
• These units were granted under 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 100% vested on the grant date.
• Settlement of these units will occur in shares of Qualcomm's common stock (and potentially partially in cash) on the earlier of the third anniversary of the grant date, death, disability, or a change in control.
• Following this transaction, Miller beneficially owns 7,772.338 deferred stock units.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard director compensation practices, aligning 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 long-term commitment from the director.

Future Outlook

The deferred stock units will be settled in shares of the Company's common stock (and partially in cash if election is made within 60 days of the date of grant) in accordance with the grant agreement on the earlier of (1) third anniversary of the date of grant, (2) death, (3) disability, or (4) a change in control.

Industry Context

This filing is a routine disclosure related to director compensation and is typical for publicly traded companies like Qualcomm. It provides transparency into the equity-based compensation awarded to its directors.

Comparison to Industry Standards

• Director compensation packages often include deferred stock units to align director and shareholder interests.
• Vesting schedules and settlement terms are common features in these types of grants.
• Companies like Apple, Microsoft, and Intel also utilize similar equity-based compensation plans for their directors.

Stakeholder Impact

• Shareholders may view this as a positive sign, as it aligns the director's interests with the company's long-term performance.
• Employees may see this as a standard practice for executive compensation.

Key Dates