false0000804328QUALCOMM INC/DE 0000804328 2019-10-31 2019-10-31
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT

Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

October 31, 2019
Date of Report (Date of earliest event reported)
 
QUALCOMM Incorporated
(Exact name of registrant as specified in its charter)
 
Delaware
(State or other jurisdiction of incorporation)

000-19528
 
95-3685934
(Commission File Number)
 
(IRS Employer Identification No.)

 
5775 Morehouse Drive,
San Diego,
California
 
92121
 
 
(Address of Principal Executive Offices)
 
(Zip Code)
 

858-587-1121
(Registrant’s telephone number, including area code)
 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
 Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.0001 par value
 QCOM
Nasdaq Stock Market


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company  ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐



Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(c) On October 31, 2019, the Board of Directors of QUALCOMM Incorporated (the “Company”) appointed Akash Palkhiwala to serve as the Company’s Executive Vice President and Chief Financial Officer, effective November 6, 2019. The Company publicly announced this appointment on November 6, 2019. Mr. Palkhiwala, age 44, had served as the Company’s Senior Vice President and Interim Chief Financial Officer since August 2019. He served as Senior Vice President, (QCT) Finance, Qualcomm Technologies, Inc., a subsidiary of the Company (“QTI”), from December 2015 to August 2019, leading the QCT segment’s Finance function. He previously served as Senior Vice President and Treasurer of the Company from October 2014 to December 2015, where he was responsible for the Company’s capital markets activities, treasury operations, global cash management and treasury investment portfolio. Mr. Palkhiwala served as Vice President, (QCT) Finance, QTI from October 2012 to October 2014, and Vice President, Finance of the Company from October 2009 to October 2012. He served in various other finance and leadership roles since joining the Company in March 2001. Prior to joining the Company, Mr. Palkhiwala was an Analyst at KeyBank. There was not and is not any arrangement or understanding between Mr. Palkhiwala and any other person pursuant to which he was selected to this position.

The Company’s HR and Compensation Committee approved the following compensation, effective November 6, 2019, in connection with Mr. Palkhiwala’s appointment as Executive Vice President and Chief Financial Officer: Mr. Palkhiwala will receive a base salary of $750,000 per year and will be eligible to receive a bonus under the Company’s 2020 Annual Cash Incentive Plan of 100% of his base salary at target.




SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
 
QUALCOMM Incorporated
 
 
 
 
 
Date:
November 6, 2019
 
By:
/s/ Michelle M. Sterling
 
 
 
 
Michelle M. Sterling
 
 
 
 
Executive Vice President, Human Resources

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