Summary
Qualcomm Incorporated announced a change to its Board of Directors with the election of Jean-Pascal Tricoire, effective July 21, 2020. Mr. Tricoire's appointment is for a term expiring at the next annual stockholder meeting, and he has been assigned to the Governance Committee. This addition to the board is a key governance development that investors should note as it may influence future strategic decisions and oversight. Mr. Tricoire's compensation as a non-employee director will follow the company's standard Director Compensation Plan. This includes a grant of 2,072 deferred stock units (DSUs) on his appointment date, representing a pro-rata portion of a full year's award. Investors interested in the specifics of director compensation can refer to Exhibit 10.30 of Qualcomm's Form 10-K for the fiscal year ended September 29, 2019.
Key Highlights
- 1Jean-Pascal Tricoire elected to the Board of Directors on July 21, 2020.
- 2Mr. Tricoire's term will expire at the Company’s next annual meeting of stockholders.
- 3No prior arrangement or understanding existed regarding Mr. Tricoire's selection.
- 4Mr. Tricoire appointed to the Board's Governance Committee.
- 5Mr. Tricoire will receive compensation as a non-employee director under the 2020 Director Compensation Plan.
- 6Mr. Tricoire was granted 2,072 deferred stock units (DSUs) on July 21, 2020.