8-K/AShareholder Matters

QUALCOMM INC/DE 8-K/A Report, Shareholder Vote Results (May 8, 2014)

Filed May 8, 2014For Securities:QCOM

Summary

QUALCOMM INC/DE (QCOM) filed an 8-K/A amendment on May 7, 2014, providing an update on a shareholder vote held on March 3, 2014. The primary focus of this filing is the outcome of a non-binding advisory vote on the frequency of future "say-on-pay" votes concerning executive compensation. A significant majority of the shares voted in favor of holding these advisory votes on an annual basis. Following this shareholder sentiment, the Compensation Committee of the Board of Directors has decided to implement annual advisory votes on executive compensation. This decision aligns with the expressed preference of the company's security holders and will remain in effect until the Compensation Committee reviews the results of a future shareholder advisory vote specifically on the frequency of these "say-on-pay" votes.

Key Highlights

  • 1The filing confirms the outcome of a non-binding advisory vote on the frequency of executive compensation votes.
  • 2A majority of shares voted for an annual "say-on-pay" advisory vote.
  • 3QUALCOMM's Compensation Committee has decided to hold future advisory votes on executive compensation on an annual basis.
  • 4This decision directly reflects shareholder preference as expressed in the vote.
  • 5The annual advisory vote practice will continue until a future vote on frequency is considered.
  • 6The event date for the shareholder meeting was March 3, 2014, with the amendment filed on May 7, 2014.

Frequently Asked Questions

The main purpose of this filing was to report the results of a shareholder advisory vote on the frequency of executive compensation votes (also known as "say-on-pay" votes) and to announce the company's decision based on those results.

A majority of the shares voted at the annual meeting favored holding advisory votes on executive compensation on an annual basis.

QUALCOMM's Compensation Committee has decided that the company will hold future advisory votes on executive compensation on an annual basis, aligning with the shareholder preference.

No, the annual advisory vote practice will continue until the Compensation Committee considers the results of a future stockholder advisory vote specifically on the frequency of these executive compensation votes.