CEVA INC — Director's Dealing 2011

May 12, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CEVA INC (CEVA)
CIK: 0001173489
Period of Report: 2011-05-10

Reporting Person: Arieli Yaniv (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-10	Common Stock	M	2500	$9.10	Acquired	2500	Direct
2011-05-10	Common Stock	S	2500	$31.05	Disposed	0	Direct
2011-05-10	Common Stock	M	11747	$9.80	Acquired	11747	Direct
2011-05-10	Common Stock	S	11747	$31.00	Disposed	0	Direct
2011-05-11	Common Stock	M	1003	$9.80	Acquired	1003	Direct
2011-05-11	Common Stock	S	1003	$30.81	Disposed	0	Direct
2011-05-11	Common Stock	M	39000	$5.55	Acquired	39000	Direct
2011-05-11	Common Stock	S	39000	$31.03	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-10	Stock Option (Right to Buy)	$9.10	M	2500	Disposed	2014-07-24	Common Stock (2500)	Direct
2011-05-10	Stock Option (Right to Buy)	$9.80	M	11747	Disposed	2015-05-20	Common Stock (11747)	Direct
2011-05-11	Stock Option (Right to Buy)	$9.80	M	1003	Disposed	2015-05-20	Common Stock (1003)	Direct
2011-05-11	Stock Option (Right to Buy)	$5.55	M	39000	Disposed	2012-07-19	Common Stock (39000)	Direct

Footnotes

F1: The stock option becomes exercisable as to 25% of the underlying shares on the first year anniversary of the grant date and 1/48th each month thereafter.