Patricia Grech
QUALCOMM INC/DEAbout Patricia Grech
Patricia Y. Grech, age 53, was appointed Senior Vice President and Chief Accounting Officer (Principal Accounting Officer) of Qualcomm effective August 25, 2025, after serving as VP, Finance & Controller (Dec 2022–Aug 2025) and VP, Finance (May 2017–Dec 2022); she joined Qualcomm in 2006 . She holds a B.S. in Accountancy and Finance from Miami University (Ohio) and an MBA from The Ohio State University . She signed the FY2025 Form 10-K as Principal Accounting Officer, underscoring responsibility for financial reporting and internal control oversight . Executive incentive frameworks tie pay to Adjusted Revenues and Adjusted Operating Income (ACIP), and three-year PSUs based on relative TSR and Adjusted EPS, with RSUs vesting annually over three years .
Past Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Qualcomm | Senior Vice President & Chief Accounting Officer (Principal Accounting Officer) | Aug 25, 2025–present | Appointment effective immediately |
| Qualcomm | Vice President, Finance & Controller | Dec 2022–Aug 2025 | Controller responsibilities |
| Qualcomm | Vice President, Finance | May 2017–Dec 2022 | Finance leadership |
| Qualcomm | Various finance and accounting positions | 2006–2017 | Joined in 2006 |
External Roles
No external directorships or outside roles were disclosed in the appointment filing reviewed .
Fixed Compensation
| Component | Amount/Detail | Effective Date |
|---|---|---|
| Base Salary ($) | 380,546 per year | Aug 25, 2025 |
| Target Bonus (%) | 35% of base, under ACIP | Beginning FY2026 |
| Perquisites & Benefits | Eligibility for standard programs: healthcare, non-qualified deferred compensation plan (with Company match), charitable contribution matching | Ongoing |
Performance Compensation
| Incentive Type | Performance Metric(s) | Measurement Period | Payout Mechanics | Vesting / Settlement |
|---|---|---|---|---|
| Annual Cash Incentive Plan (ACIP) | Adjusted Revenues; Adjusted Operating Income; Human capital advancements modifier | 1 year | ACIP payouts capped at 2x target | Cash bonus; annual |
| Performance Stock Units (PSUs) | Relative TSR (RTSR); Adjusted EPS | 3 years | Max 2x target shares; RTSR payout capped at target if absolute TSR is negative | 3-year cliff vest |
| Restricted Stock Units (RSUs) | Time-based | 3 years | n/a | Vest annually over three years |
Notes:
- Plan-level metrics and mechanics are disclosed; individual weighting/targets/payouts for Ms. Grech are not specified in filings reviewed .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Common Stock Beneficially Owned | 913 shares (Form 3, direct) ; amendment reflects 913 shares held indirectly by family trust for which she and spouse are trustees |
| Ownership as % of Outstanding | ~0.00008% of 1,105,391,695 shares outstanding as of Jan 17, 2025 (calculated from 913/1,105,391,695) |
| Derivative Holdings (RSUs) | RSU tranche: 362.9687 shares, expires/settles 11/20/2025 ; RSU tranche: 2,092.5262 shares, expires/settles 11/20/2026 ; RSU tranche: 2,797.0818 shares, expires/settles 11/20/2027 |
| Recent Promotion Grant | RSUs with grant-date fair value of $85,000 |
| Options | None disclosed on Form 3 |
| Pledging/Hedging | Company policy prohibits pledging and hedging for officers/directors; Designated Insiders may not pledge or hold in margin accounts |
| Stock Ownership Guidelines | Executive officers must hold 2x salary; compliance required within 5 years of becoming/executive role; only owned shares count (unvested RSUs/PSUs excluded) |
Employment Terms
| Provision | Qualcomm Disclosure | Implication |
|---|---|---|
| Employment Status | At-will; no executive employment contracts | Termination possible with/without cause |
| Change-in-Control (CIC) | Double-trigger equity vesting if awards assumed: acceleration only upon qualifying termination in connection with CIC; unassumed awards vest per LTIP | Limits windfall; aligns retention in transactions |
| Severance Multiples | Not specified for Ms. Grech in reviewed filings | — |
| Clawback Policy | Cash and equity incentives subject to clawback; policy filed with 10-K | Recoupment risk on restatement/misconduct |
| Tax Gross-Ups | No excise tax gross-ups; executives do not receive unique tax gross-ups beyond general policies | Shareholder-friendly practice |
| Insider Trading Constraints | Hedging, short sales, and derivative transactions prohibited; pledging/margin accounts restricted for Designated Insiders | Reduces misalignment/credit risk |
| Deferred Compensation | Eligible for Non-Qualified Deferred Compensation Plan with Company match | Flexibility in deferrals |
| Perquisites | Healthcare coverage; charitable contribution matching; other standard benefits for similarly situated employees | Market-standard benefits |
Investment Implications
- Alignment and stake-building: Beneficial ownership is de minimis (~0.00008%), but executive stock ownership guidelines require 2x salary holdings within five years, implying ongoing accumulation via vesting and potential open-market purchases over time .
- Limited near-term selling pressure: RSU tranches are scheduled to settle on 11/20/2025, 11/20/2026, and 11/20/2027; conversions typically include tax withholding, but no 10b5‑1 plan disclosures were found for Ms. Grech in reviewed filings .
- Governance and execution: As CAO and Form 10-K signatory, Ms. Grech is accountable for internal control and reporting quality, which, coupled with clawback provisions, increases performance-accountable incentives .
- Shareholder protections: Double-trigger CIC, prohibition on hedging/pledging, and absence of tax gross-ups indicate alignment with governance best practices, reducing risk of outsized change‑of‑control payouts and misaligned personal risk management .
- Retention signals: Promotion package with revised base ($380,546), higher ACIP target (35% starting FY2026), and $85,000 RSU grant supports retention while keeping equity at risk tied to ACIP/PSU metrics (Adjusted Revenues, Adjusted Operating Income, RTSR, Adjusted EPS) .