Qualcomm : 2022 Proxy

January 20, 2022

Dear Fellow Stockholders:

You are cordially invited to attend the 2022 Annual Meeting of Stockholders (Annual Meeting) of QUALCOMM Incorporated (Qualcomm) on Wednesday, March 9, 2022. The meeting will begin promptly at 9:30 a.m. Pacific Time at the Irwin M. Jacobs Qualcomm Hall, 5775 Morehouse Drive, San Diego, California 92122. We will begin the Annual Meeting with a discussion and vote on the matters set forth in the Notice of Annual Meeting of Stockholders, followed by a presentation on Qualcomm's fiscal 2021 performance, and a question and answer session.

Whether or not you plan to attend the Annual Meeting, please vote as soon as possible. You may vote via the Internet, by telephone, by completing and returning your proxy card or voting instruction form, scanning your QR code with your mobile device, or in person at the Annual Meeting, as set forth in the proxy statement. Voting by any of these methods will ensure your representation at the Annual Meeting.

Your vote is very important to us. I encourage you to vote as our Board of Directors has recommended.

Thank you for your support and your continued interest in Qualcomm. I look forward to seeing you in San Diego at the Irwin M. Jacobs Qualcomm Hall on Wednesday, March 9, 2022.

Sincerely,

Cristiano R. Amon

President and Chief Executive Officer

5775 Morehouse Drive

San Diego, California 92121-1714

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

To Be Held On March 9, 2022

To the Stockholders of QUALCOMM Incorporated:

NOTICE IS HEREBY GIVEN that the 2022 Annual Meeting of Stockholders (Annual Meeting) of QUALCOMM Incorporated, a

Delaware corporation (Company), will be held at the Irwin M. Jacobs Qualcomm Hall, 5775 Morehouse Drive, San Diego, California 92121, on Wednesday, March 9, 2022 at 9:30 a.m. Pacific Time to vote on the following matters:

• The election of 12 directors to hold office until the next annual meeting of stockholders and until their respective successors have been elected and qualified.
• The ratification of the selection of PricewaterhouseCoopers LLP as our independent public accountants for our fiscal year ending September 25, 2022.
• An advisory vote to approve the compensation of our named executive officers.
• Such other business as may properly come before stockholders at the Annual Meeting or any adjournment or postponement thereof.

The Board of Directors has fixed the close of business on January 10, 2022 as the Record Date for the determination of stockholders entitled to notice of, and to vote at, the Annual Meeting and at any adjournment or postponement thereof.

By Order of the Board of Directors,

Ann Cathcart Chaplin

General Counsel and Corporate Secretary

San Diego, California

January 20, 2022

TABLE OF CONTENTS

LETTER FROM OUR CEO

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

TABLE OF CONTENTS . . . . . . . . . . . . . . . . . . . . . . .

PROXY OVERVIEW . . . . . . . . . . . . . . . . . . . . . . . . .

2022 Annual Meeting of Stockholders . . . . . . . . . . . .

How to Vote . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Voting Matters and Board Recommendations . . . . . . .

Overview of the Board Nominees . . . . . . . . . . . . . . .

Board Diversity, Director Independence and Tenure . . Board Diversity Matrix . . . . . . . . . . . . . . . . . . . . . . .

PROXY STATEMENT . . . . . . . . . . . . . . . . . . . . . . . .

Meeting Information . . . . . . . . . . . . . . . . . . . . . . . .

Registered Owners and Beneficial Owners . . . . . . . . .

Voting Rights and Outstanding Shares . . . . . . . . . . . .

Notice of Internet Availability of Proxy Materials . . . . .

Voting Methods . . . . . . . . . . . . . . . . . . . . . . . . . . . .

How Your Shares Will Be Voted . . . . . . . . . . . . . . . . .

Voting Results . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Broker Non-Votes . . . . . . . . . . . . . . . . . . . . . . . . . .

Determination of Quorum . . . . . . . . . . . . . . . . . . . . .

Revocability of Proxies . . . . . . . . . . . . . . . . . . . . . .

Proxy Solicitation . . . . . . . . . . . . . . . . . . . . . . . . . .

Stockholder Proposals . . . . . . . . . . . . . . . . . . . . . . .

Householding . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Performance Measurement Comparison of

Stockholder Return . . . . . . . . . . . . . . . . . . . . . . . . .

Corporate Directory . . . . . . . . . . . . . . . . . . . . . . . . .

CORPORATE GOVERNANCE . . . . . . . . . . . . . . . . . .

Code of Ethics and Corporate Governance Principles

and Practices . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Required Vote and Board Recommendation . . . . . . . . 27

PROPOSAL 3: ADVISORY VOTE TO APPROVE THE

• COMPENSATION OF OUR NAMED EXECUTIVE

1	OFFICERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	28
Compensation Program Best Practices . . . . . . . . . . .	28
1	Effect of this Resolution . . . . . . . . . . . . . . . . . . . . . .	28
1	Required Vote and Board Recommendation . . . . . . . .	28
1

• STOCK OWNERSHIP OF CERTAIN BENEFICIAL

3 OWNERS AND MANAGEMENT . . . . . . . . . . . . . . . . .

30

• Compensation Committee Interlocks and Insider

4	Participation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	31
Delinquent Section 16(a) Reports . . . . . . . . . . . . . . .	31
4	Equity Compensation Plan Information . . . . . . . . . . .	32
4

• CERTAIN RELATIONSHIPS AND RELATED-PERSON

4	TRANSACTIONS . . . . . . . . . . . . . . . . . . . . . . . . . . .	33
5

• HR AND COMPENSATION COMMITTEE LETTER TO

5 STOCKHOLDERS . . . . . . . . . . . . . . . . . . . . . . . . . . 34

• EXECUTIVE COMPENSATION AND RELATED

6 INFORMATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 6 Compensation Discussion and Analysis . . . . . . . . . . . 35 6 Our NEOs for Fiscal 2021 . . . . . . . . . . . . . . . . . . . . . 35 6 Fiscal 2021 Performance . . . . . . . . . . . . . . . . . . . . . 36 7 Say-on-PayVote and Stockholder Outreach . . . . . . . . 36

Program Overview . . . . . . . . . . . . . . . . . . . . . . . . . . 39

7 Other Compensation Components . . . . . . . . . . . . . . 44

• Process and Rationale for Executive Compensation

Decisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	46
8 Compensation Program Best Practices . . . . . . . . . . .	49

• HR AND COMPENSATION COMMITTEE REPORT . . . . 50

Board Leadership Structure . . . . . . . . . . . . . . . . . . .

Board Meetings, Committees and Attendance . . . . . .

8

9

COMPENSATION RISK MANAGEMENT . . . . . . . . . . . 50

Board's Role in Risk Oversight . . . . . . . . . . . . . . . . .

Director Nominations . . . . . . . . . . . . . . . . . . . . . . . .

Majority Voting . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Stock Ownership Guidelines . . . . . . . . . . . . . . . . . . .

Communications with Directors . . . . . . . . . . . . . . . .

Annual Meeting Attendance . . . . . . . . . . . . . . . . . . .

Director Independence . . . . . . . . . . . . . . . . . . . . . .

Employee, Officer and Director Hedging and Pledging . Environmental, Social and Governance (ESG) . . . . . . .

Human Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Management's Ongoing Stockholder Engagement . . .

PROPOSAL 1: ELECTION OF DIRECTORS . . . . . . . . .

Election of Directors . . . . . . . . . . . . . . . . . . . . . . . .

Nominees for Election . . . . . . . . . . . . . . . . . . . . . . .

Required Vote and Board Recommendation . . . . . . . .

PROPOSAL 2: RATIFICATION OF SELECTION OF INDEPENDENT PUBLIC ACCOUNTANTS . . . . . . . . . .

Fees for Professional Services . . . . . . . . . . . . . . . . .

Policy on Audit Committee Pre-Approval of Audit and Non-Audit Services of Independent Public Accountants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Representation from PricewaterhouseCoopers LLP at the Annual Meeting . . . . . . . . . . . . . . . . . . . . . . . . .

11 COMPENSATION TABLES AND NARRATIVE

11	DISCLOSURES . . . . . . . . . . . . . . . . . . . . . . . . .	. . . 51
12	Summary Compensation Table . . . . . . . . . . . . . .	. . . 51
13	All Other Compensation . . . . . . . . . . . . . . . . . . .	. . . 52
13	Grants of Plan-BasedAwards . . . . . . . . . . . . . . .	. . . 53
14	Outstanding Equity Awards at Fiscal Year End . . .	. . . 54
14	Option Exercises and Stock Vested During Fiscal
14	2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . 56
14	Nonqualified Deferred Compensation . . . . . . . . .	. . . 56
15	Potential Post-Employment Payments . . . . . . . . .	. . . 57
17	CEO Pay Ratio . . . . . . . . . . . . . . . . . . . . . . . . .	. . . 61
18	DIRECTOR COMPENSATION . . . . . . . . . . . . . . .	. . . 62
18	AUDIT COMMITTEE REPORT . . . . . . . . . . . . . .	. . . 65
19
OTHER MATTERS . . . . . . . . . . . . . . . . . . . . . .	. . . 66
25
	APPENDIX A: PERFORMANCE MEASUREMENT
26	COMPARISON OF STOCKHOLDER RETURN . . . .	. . . A-1
APPENDIX B: CORPORATE DIRECTORY . . . . . .	. . . B-1
26
	APPENDIX C: NON-GAAP FINANCIAL MEASURES	. . . C-1
26
27

2021 PROXY STATEMENT

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