News: Exec. sales of shares.
Tuesday August 17 2:39 PM ET
Qualcomm Execs Plan Almost $40 Mln In Stock Sales
WASHINGTON (Reuters) - Senior executives at Qualcomm Inc. (Nasdaq:QCOM - news), including the chief executive officer, filed to sell a total of 250,000 shares in the company valued at almost $40 million, Securities and Exchange Commission filings said.
Irwin Jacobs, the company's CEO and chairman of the board, filed Aug 2. to sell 20,000 shares worth an estimated $3.1 million.
Jacobs, who last year earned $660,467 in salary and a $555,000 bonus, acquired the 20,000 shares after exercising a stock option, his filing said.
Several other executives in the company also announced plans to sell stock this month, including Vice Chairman Andrew Viterbi, who filed on Aug. 4 to sell 200,000 shares worth $31.4 million.
Chief Financial Officer Anthony Thornley also filed on Aug. 4 to sell 30,000 shares worth an estimated $4.7 million.
A spokeswoman for the San Diego-based company, which specializes in digital wireless communications, declined to confirm that the sales have taken place or the reason for the proposed sales.
Shares of Qualcomm were up $3 to $164.75 in afternoon trading on the Nasdaq market.
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