ACACIA RESEARCH CORP — Director's Dealing 2011

Jan 6, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACACIA RESEARCH CORP (ACTG)
CIK: 0000934549
Period of Report: 2011-01-05

Reporting Person: HAYNES CLAYTON J (CFO, Treas. Sr. V.P. Finance)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-05	Common Stock	M	4600	$3.9565	Acquired	83848	Direct
2011-01-05	Common Stock	S	4600	$25.34	Disposed	79248	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-05	Stock Option (Right to Buy)	$3.9565	M	4600	Disposed	2011-04-02	Common Stock (4600)	Direct

Footnotes

F1: The sales reported on this Form 4 were effected pursuant to a Rule 10b5(1) Trading Plan adopted by the Reporting Person on March 3, 2010.

F2: The price reported is the average price for shares sold between $25.26 and 25.45 per share.