QUALCOMM INC/DE — Director's Dealing 2010

Dec 22, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: QUALCOMM INC/DE (QCOM)
CIK: 0000804328
Period of Report: 2010-12-20

Reporting Person: JACOBS PAUL E (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-20	Common Stock	M	30000	$29.21	Acquired	641400	Indirect
2010-12-20	Common Stock	S	30000	$49.7263	Disposed	611400	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-12-20	Non-Qualified Stock Option (right to buy)	$29.21	M	30000	Disposed	2011-11-29	Common Stock (30000)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	433571	Indirect
Common Stock	433571	Indirect

Footnotes

F1: Securities held by Paul E. Jacobs and Stacy Jacobs Trustees for the Paul & Stacy Jacobs Family Trust dtd. 5/3/00.

F2: The transaction was conducted under a 10b5-1 Plan, as defined under the Securities Exchange Act of 1934, as amended.

F3: The sale prices for this transaction ranged from $49.71 to $49.745. The filer hereby agrees to provide, upon request, full information regarding the number of shares sold at each separate price.

F4: Securities held by Harlan A. Jacobs, Trustee of The Paul E. Jacobs Annuity Trust.

F5: Securities held by Harlan A. Jacobs, Trustee of The Stacy R. Jacobs Annuity Trust.

F6: The options vest as to 10% of the total shares granted on May 31, 2002 and as to 1/60th of the total shares granted on each monthly anniversary beginning on June 30, 2002.