Qualcomm Pays Mollenkopf, Jacobs Combined $118 Million
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Former Qualcomm Inc. Chief Executive Officer Paul E. Jacobs, who stepped down in March, and his replacement Steven M. Mollenkopf were paid a combined $117.7 million in the company’s latest fiscal year as part of a plan to retain its employees.
Jacobs, who is now executive chairman, and Mollenkopf received one-time stock grants worth $45 million and $20 million, respectively, according to a filing today from the San Diego-based company. Those grants will vest over three years. Mollenkopf also received shares worth $30 million, which will vest over five years. He’ll be eligible to receive restricted stock units again in fiscal 2019, the filing shows.