Qualcomm unit head exercises options

By Associated Press May 7, 2008 Comments (0)

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The president of global development for chip maker Qualcomm Inc. exercised options for 70,000 shares of common stock, according to Securities and Exchange Commission filings Friday.

In Form 4's filed with the SEC, Jeffrey A. Jacobs reported exercising the options on April 30 for $3.51 apiece and then selling the same number of shares on the same day for $43.11 to $43.99 apiece.

The securities exercised and sold were held by Jeffrey A. Jacobs and Deni Jacobs trustees for the Jeff and Deni Jacobs family trust.

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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