F5, INC. — Director's Dealing 2011

May 18, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: F5 NETWORKS INC (FFIV)
CIK: 0001048695
Period of Report: 2011-05-16

Reporting Person: MCADAM JOHN (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-16	Common Stock	S	9471	$104.6751	Disposed	354132	Direct
2011-05-16	Common Stock	S	28128	$105.3022	Disposed	326004	Direct
2011-05-16	Common Stock	S	12401	$106.5417	Disposed	313603	Direct

Footnotes

F1: This transaction was executed pursuant to a Rule 10b5-1 trading plan, in multiple trades at prices ranging from $103.97 to $104.96. The reported price is the weighted average sale price. The reporting person undertakes to provide to the Company, any security holder of the Company, or Securities and Exchange Commission staff, upon request, complete information regarding the number of shares sold at each separate price.

F2: This transaction was executed pursuant to a Rule 10b5-1 trading plan, in multiple trades at prices ranging from $104.97 to $105.96. The reported price is the weighted average sale price. The reporting person undertakes to provide to the Company, any security holder of the Company, or Securities and Exchange Commission staff, upon request, complete information regarding the number of shares sold at each separate price.

F3: This transaction was executed pursuant to a Rule 10b5-1 trading plan, in multiple trades at prices ranging from $105.97 to $106.90. The reported price is the weighted average sale price. The reporting person undertakes to provide to the Company, any security holder of the Company, or Securities and Exchange Commission staff, upon request, complete information regarding the number of shares sold at each separate price.