Qualcomm CEO's Pay Jumps 23% to $21.7 Million
Qualcomm CEO Paul Jacobs received compensation valued at $21.72 million last year, according to documents filed with the SEC. His total package is up 23% from 2010, when he netted a pay package valued at $17.63 million.
Thu, January 19, 2012
Network World — Qualcomm CEO Paul Jacobs received compensation valued at $21.72 million last year, according to documents filed yesterday with the U.S. Securities and Exchange Commission. His total package is up 23% from 2010, when he netted compensation worth $17.63 million.
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Jacobs' total compensation for 2011 included his $1.15 million salary, which is nearly equivalent to his 2010 salary, and a $5.5 million cash bonus, which is up 63% from the $3.37 million bonus he received in 2010. Another boost to his pay came in the form of stock awards valued at $14.32 million, which is up 16% from the $12.38 million in equity awards he received a year earlier.
Jacobs also received $742,288 in perks and other compensation. His perks included: $228,817 for personal use of corporate aircraft; $395,337 for a retirement matching contribution plan; $75,000 for a charitable match; $25,000 for financial planning; and $18,134 for insurance premiums and matching 401(k) contributions.
In its 2011 fiscal year, which ended Sept. 25, Qualcomm's revenue grew to $14.96 billion, representing a 36% increase over the prior year's $10.98 billion revenue. Net income grew to $4.24 billion, a gain of 31% compared to $3.25 billion in 2010.
Jacobs' total pay is calculated using data supplied in a proxy statement filed with the SEC on Jan. 18. The following figures are taken from the summary compensation table: salary, bonus, stock awards, non-equity incentive place compensation (performance-based cash bonus) and all other compensation. The estimated value of equity awards represents the grant date fair value for stock awards and stock options granted during the fiscal year.
Ann Bednarz covers IT careers, outsourcing and Internet culture for Network World. Follow Ann on Twitter @annbednarz and check out her blog, Occupational Hazards. Her email address is firstname.lastname@example.org.
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