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NEW YORK - The chairman of Qualcomm Inc., which makes semiconductors for wireless products, exercised options for 180,000 shares of common stock, according to filings with the Securities and Exchange Commission.
| QCOM | 44.82 |  0.72 |
In Form 4s filed with the SEC Wednesday, Irwin M. Jacobs reported exercising the options on Monday for $3.51 apiece, then selling 187,000 shares on the same day for $46.57 to $46.96 apiece.
Jacobs held the shares indirectly through a 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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