C2, Re: QCOM insider sales / ownership.
This issue has also surfaced over the years. Earlier this year I posted this on another thread (not sure if it made it to SI).
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Xxxxxx, I believe you, I, and others over the years have questioned (and been puzzled) over the apparent lack of QCOM ownership by its executives and directors. The public reports from the NAZ and Vickers Insider Prophets Report report insider sales and share balance with a column reflecting the number of shares head after the transaction. I’ve exchanged several emails with Qualcomm IR on this subject and received a response today that sheds a whole new light on this matter. Within that email was a link to Qualcomm’s Form DEF 14A (Shareholders 2006 Proxy notification), which on page 24 lists the number of QCOM shares owned by directors and executive officers.
I’ve recapped the data from this EF 14A, the latest NAZ Insider report, and the latest Vickers report below. As one can see, the public reports significantly understate the actual number of shares held. Form EF 14A includes a series of footnotes providing detail by name. It appears that part of the problem results from shares held in family trusts, and shares issuable upon exercise of options exercisable within 60 days.
In Paul Jacobs case, the family trust shares amount to 1,437,990 shares, considerably more than the 2,044 reported in the NAZ and Vickers reports. Personally, I feel more comfortable knowing that our executives / directors have a much bigger stake in the Q than these public reports reflect.
QCOM NAZ Vickers
EF 14A Report Report
12/16/2005 1/6/2006
SHARES NOW
HELD HOLDS
Paul Jacobs 3,611,397 2,044 2,044
Irwin Jacobs 37,784,745 5,652,639 25,625,636
Steven Altman 1,597,785 203,998 178,998
Sanjay Jha 1,293,356 5,254 454
William Keitel 825,125 81,290 4,490
Robert Padovani 1,436,666 0 0
Richard Atkinson 884,574 327,362
Adelia Coffman 517,632 250,500
Donald Cruickshank -
Raymond Dittamore 43,700 3,400
Diana Dougan 479,632 0
Robert Kahn 718,632 120,000 16,000
Duane Nelles 419,972
Peter Sacerdote 1,553,232 720,000 720,000
Brent Scrowcoff 547,216 148,584 N/A
Marc Stern 1,035,108 728,500 709,000
Richard Sulpizio 1,064,646 846 846
Links-
1. Qualcomm’s Form DEF 14A (Shareholders 2006 Proxy notification
qualcomm.com
2. The Vickers report was obtained thru Schwab
3. NAZ insider trades report >>>
nasdaq.com
Enter QCOM
Select Insider report in pull down menu |
