Qualcomm awards CEO with $3.5m bonus after multi-billion Apple settlement

Qualcomm has granted beneficiant bonuses to its high administration, with its CEO having fun with the largest reward with over $3.5 million on the present share value after a authorized struggle with Apple introduced billions in earnings to the chipmaker.

The San Diego-based firm revealed the quantity of bonuses in an SEC submitting on Friday. The doc says that CEO Steve Mollenkopf was awarded 40,794 shares, which is about 60 p.c greater than Qualcomm President Cristiano Amon obtained for his “outstanding efforts” in attaining the license settlement and chipset provide deal with Apple.

The different members of the manager administration crew, Executive Vice Presidents Donald Rosenberg and James Thompson, in addition to Interim Chief Financial Officer David Wise, obtained some 19,264, 14,165 and a couple of,958 in shares respectively.

The whole awards to the crew quantity to almost $8.Eight million, provided that Qualcomm’s shares had been buying and selling at $85.84 as of Friday.

The firm’s inventory has skyrocketed since mid-April when the prolonged authorized battles with Apple lastly ended with an settlement. It was later revealed that the iPhone maker is ready to pay Qualcomm a minimum of $4.5 billion beneath the deal.

Read More Here