Form 4: Qualcomm Director Jean-Pascal Tricoire Reports Acquisition of Deferred Stock Units

Director Jean-Pascal Tricoire reports the acquisition of 1,624 deferred stock units in Qualcomm, fully vested upon grant.

Summary

• Jean-Pascal Tricoire, a director of Qualcomm, reported the acquisition of 1,624 deferred stock units on March 5, 2024.
• 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) upon separation from service (no earlier than the third anniversary of the grant date), death, disability, or a change in control.
• Following the transaction, Tricoire beneficially owns 7,772.338 deferred stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine director compensation matter, indicating stability and alignment of interests. It's a neutral to slightly positive event.

Positives

• The grant of deferred stock units aligns the director's interests with the long-term performance of the company.
• The vesting of the units on the grant date indicates immediate ownership and commitment.

Future Outlook

The deferred stock units will be settled in shares of Qualcomm's common stock upon the occurrence of certain events, aligning director compensation with long-term company performance.

Industry Context

Director compensation in the form of stock and deferred stock units is a common practice in the technology industry to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Companies like Apple, Microsoft, and Intel also utilize stock-based compensation for their directors.
• The specific terms of Qualcomm's Director Compensation Plan, such as vesting schedules and settlement conditions, are likely benchmarked against industry peers to attract and retain qualified board members.
• The amount of deferred stock units granted is likely determined based on factors such as company size, performance, and director responsibilities, similar to practices at comparable tech firms.

Stakeholder Impact

• The grant of deferred stock units aligns the director's interests with those of shareholders, potentially encouraging decisions that benefit the company's long-term value.
• The compensation structure can influence employee morale by demonstrating a commitment to aligning leadership incentives with company performance.

Key Dates