Nice to see, but more interesting would be how the options grants did sequentially....
yahoo.reuters.com
Qualcomm cuts executive bonuses in 2005
Thu Jan 12, 2006 07:14 PM ET
NEW YORK, Jan 12 (Reuters) - Wireless technology firm Qualcomm Inc (QCOM.O: Quote, Profile, Research) roughly halved the cash bonuses it paid to its top executives in 2005, according to a document filed with the Securities and Exchange Commission on Thursday.
Qualcomm said its Chief Executive Paul Jacobs, who took the helm from his father Irwin Jacobs in July, saw his bonus fall to $500,000 in its fiscal year ended Sept. 25, 2005 from $984,525 the previous year. This compares to a $605,000 bonus in 2003, according to the filing.
Irwin Jacobs, who is now chairman of the board was not eligible for a bonus after he stepped down as CEO, saw his bonus fall to $500,000 from $1,701,500 the year before.
Chief Financial Officer William Keitel saw his bonus fall to $350,000 in fiscal 2005 from $750,000 the year before and President Steven Altman saw his bonus fall to $450,000 from $975,000 the year before and $550,000 in 2003.
Qualcomm, which supplies technology licenses and chips for mobile phones, said its bonus payments depend on factors such as the financial performance of the company including revenue and earnings before tax, according to the filing.
Its revenue rose 16 percent in 2005 compared to a 27 percent rise in 2004. |
