The chief executive of Qualcomm Inc. exercised options for 32,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Friday.
In a Form 4 filed with the SEC, Paul E. Jacobs reported exercising the options on May 1 for $22.23 to $23.78 apiece and then selling the same number of shares on the same day for $43.21 to $43.96 apiece.
The securities were held by Paul E. Jacobs and Stacy Jacobs trustees for the Paul and Stacy Jacobs family trust.
The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
Qualcomm is based in San Diego.
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