QUALCOMM INC/DE — Director's Dealing 2011

Jan 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: QUALCOMM INC/DE (QCOM)
CIK: 0000804328
Period of Report: 2010-12-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-03	Common Stock	M	70000	$33.01	Acquired	681400	Indirect
2011-01-03	Common Stock	S	70000	$50.2568	Disposed	611400	Indirect
2011-01-03	Common Stock	M	20000	$29.21	Acquired	631400	Indirect
2011-01-03	Common Stock	S	20000	$49.9574	Disposed	611400	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-03	Non-Qualified Stock Option (right to buy)	$33.01	M	70000	Disposed	2015-06-30	Common Stock (70000)	Direct
2011-01-03	Non-Qualified Stock Option (right to buy)	$29.21	M	20000	Disposed	2011-11-29	Common Stock (20000)	Indirect
2010-12-31	Phantom Stock Unit	$1	A	7471	Acquired		Common Stock (7471)	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 $49.89 to $50.52. The filer hereby agrees to provide, upon request, full information regarding the number of shares sold at each separate price.

F4: The sale prices for this transaction ranged from $49.89 to $50.12. The filer hereby agrees to provide, upon request, full information regarding the number of shares sold at each separate price.

F5: Securities held by Harlan A. Jacobs, Trustee of The Paul E. Jacobs Annuity Trust.

F6: Securities held by Harlan A. Jacobs, Trustee of The Stacy R. Jacobs Annuity Trust.

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.

F8: 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.

F9: The common stock issued under the terms of the Company's Executive Retirement Matching Contribution Plan, a tax conditioned plan, is exempt under Rule 16b-3. The shares are held in a grantor trust and stock is the only permissable form of distribution under the Plan.

F10: The rights awarded under the Company's Executive Retirement Matching Contribution Plan will be eligible for distribution upon termination and vest 100% after 2 years of continuous service with the Company.

F11: The rights awarded under the Company's Executive Retirement Matching Contribution Plan will be eligible for distribution upon termination.