F5, INC. — Director's Dealing 2012

May 31, 2012

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: F5 NETWORKS INC (FFIV)
CIK: 0001048695
Period of Report: 2012-05-30

Reporting Person: Feringa Thomas David (EVP, World Wide Sales)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	170	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0.00		Common Stock (591)		Direct
Restricted Stock Units	$0.00		Common Stock (3578)		Direct

Footnotes

F1: Each Restricted Stock Unit represents a contingent right to receive one share of F5 Networks, Inc. Common Stock on the vest date.

F2: The August 2, 2010 award of 4,726 service-based Restricted Stock Units vests in eight equal quarterly increments beginning November 1, 2010. August 1, 2012 is the first and final vest date for the 591 Restricted Stock Units outstanding under this grant.

F3: If the reporting person continues to serve as an officer of the Company on the vest date, the corresponding number of shares of Common Stock of F5 Networks, Inc. will be issued to the reporting person on the vest date.

F4: The August 1, 2011 award of 5,724 service-based Restricted Stock Units vests in eight equal quarterly increments beginning November 1, 2011. August 1, 2012 is the first of the five remaining vest dates for the 3,578 Restricted Stock Units outstanding under this grant.