May 30, 2008 - 5:31 p.m.

NEW YORK (AP) - The president of global development for Qualcomm Inc., which makes chips for wireless products, exercised options for 13,108 shares of common stock in subordination to a prearranged trading plan, according to a Securities and Exchange Commission filing Thursday.

In a Form 4 filed with the SEC, Jeffrey A. Jacobs reported exercising the options on Wednesday in favor of $3.51 apiece and then selling the same number of shares on the same day for $48.80 to $48.92 each.

The stock sale was conducted under a prearranged 10b5-1 trading hatch, what one. 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 retention of material non-public notice.

Insiders file Form 4s through the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within pair business days of the transaction.

Qualcomm is based in San Diego.