QUALCOMM INC/DE — Director's Dealing 2011

Jan 7, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: QUALCOMM INC/DE (QCOM)
CIK: 0000804328
Period of Report: 2011-01-05

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-05	Common Stock	M	54000	$33.01	Acquired	665400	Indirect
2011-01-05	Common Stock	S	54000	$51.9668	Disposed	611400	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-05	Non-Qualified Stock Option (right to buy)	$33.01	M	54000	Disposed	2015-06-30	Common Stock (54000)	Direct

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 $51.96to $51.98. 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 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.