Summary
Qualcomm Incorporated announced a significant change to its Board of Directors with the appointment of Clark T. Randt, Jr. effective October 6, 2013. Mr. Randt's appointment is for a term concluding at the next annual meeting of stockholders. This addition to the board is a key development for the company, bringing in new expertise and perspectives as Qualcomm continues to navigate the dynamic mobile technology landscape. Investors should note that Mr. Randt will be compensated according to the company's existing non-employee director compensation program. As part of his initial compensation, he was granted 993 restricted stock units (RSUs) on October 7, 2013, reflecting a prorated portion of a full year's RSU award. The company has not yet determined Mr. Randt's committee assignments, which will be decided by the Board of Directors.
Key Highlights
- 1Appointment of Clark T. Randt, Jr. to the Board of Directors, effective October 6, 2013.
- 2Mr. Randt's term of office will expire at the Company’s next annual meeting of stockholders.
- 3No prior arrangement or understanding between Mr. Randt and others influenced his selection.
- 4The Board of Directors has not yet assigned Mr. Randt to any committees.
- 5Mr. Randt will be compensated under the existing non-employee director compensation program.
- 6On October 7, 2013, Mr. Randt received 993 restricted stock units (RSUs) as prorated compensation.