F5, INC. — Director's Dealing 2011

Feb 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: F5 NETWORKS INC (FFIV)
CIK: 0001048695
Period of Report: 2011-02-01

Reporting Person: Anderson Mark (Sr. VP, Worldwide Sales)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-01	Common Stock	M	10374	$0.00	Acquired	10932	Direct
2011-02-01	Common Stock	S	10374	$109.9605	Disposed	558	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-01	Restricted Stock Units	$0.00	M	3750	Disposed	2017-11-01	Common Stock (3750)	Direct
2011-02-01	Restricted Stock Units	$0.00	M	5143	Disposed	2019-08-03	Common Stock (5143)	Direct
2011-02-01	Restricted Stock Units	$0.00	M	1481	Disposed	2020-08-02	Common Stock (1481)	Direct

Footnotes

F1: Shares received from vesting of the 11/01/2007, 8/3/2009, and 8/2/2010 (exercisable date of 11/1/2010) restricted stock unit grants.

F2: Sale pursuant to the terms of a 10b5-1 trading plan.