QUALCOMM INC/DE — Director's Dealing 2011

Jun 2, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: QUALCOMM INC/DE (QCOM)
CIK: 0000804328
Period of Report: 2011-05-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-16	Common Stock	G	100000	—	Acquired	565966	Indirect
2011-05-16	Common Stock	G	100000	—	Disposed	306610	Indirect
2011-05-31	Common Stock	M	70000	$33.01	Acquired	376610	Indirect
2011-05-31	Common Stock	S	70000	$58.4611	Disposed	306610	Indirect
2011-06-01	Common Stock	M	70000	$33.01	Acquired	376610	Indirect
2011-06-01	Common Stock	S	70000	$58.4927	Disposed	306610	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-31	Non-Qualified Stock Option (right to buy)	$33.01	M	70000	Disposed	2015-06-30	Common Stock (70000)	Direct
2011-06-01	Non-Qualified Stock Option (right to buy)	$33.01	M	70000	Disposed	2015-06-30	Common Stock (70000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	565966	Indirect

Footnotes

F1: Gift to Spouse's Grantor Retained Annuity Trust (GRAT) who shares reporting person's household. The reporting person disclaims beneficial ownership of the shares held by Mrs. Jacobs' GRAT, and this report should not be deemed an admission that the reporting person is the beneficial owner of his spouse's shares for purposes of Section 16 or for any other purpose. The transaction was conducted under a 10b5-1 Plan, as defined under the Securities Exchange Act of 1934, as amended.

F2: Securities held by Harlan A. Jacobs, Trustee of The Stacy R. Jacobs Grantor Retained Annuity Trust (GRAT).

F3: Securities held by Paul E. Jacobs and Stacy Jacobs Trustees for the Paul & Stacy Jacobs Family Trust dtd. 5/3/00.

F4: The transaction was conducted under a 10b5-1 Plan, as defined under the Securities Exchange Act of 1934, as amended.

F5: The sale prices for this transaction ranged from $58.46 to $58.64. The filer hereby agrees to provide, upon request, full information regarding the number of shares sold at each separate price.

F6: Securities held by Harlan A. Jacobs, Trustee of The Paul E. Jacobs Grantor Retained Annuity Trust (GRAT).

F7: The options vest 10% on the six month anniversary of the date of grant and the remaining balance vests monthly thereafter. The option is fully vested five years after the date of grant.