F5, INC. — Director's Dealing 2014

May 5, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: F5 NETWORKS INC (FFIV)
CIK: 0001048695
Period of Report: 2014-05-01

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-01	Common Stock	M	3397	$0.00	Acquired	7519	Direct
2014-05-01	Common Stock	S	1308	$105.0754	Disposed	6211	Direct
2014-05-01	Common Stock	S	2801	$106.6856	Disposed	3410	Direct
2014-05-01	Common Stock	S	600	$107.0333	Disposed	2810	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-01	Restricted Stock Units	$0.00	M	1875	Disposed		Common Stock (1875)	Direct
2014-05-01	Restricted Stock Units	$0.00	M	764	Disposed		Common Stock (764)	Direct
2014-05-01	Restricted Stock Units	$0.00	M	758	Disposed		Common Stock (758)	Direct

Footnotes

F1: Shares acquired upon vesting of the August 1, 2012, November 1, 2012, and November 1, 2013 awards of service-based Restricted Stock Units.

F2: Includes 314 shares acquired on April 30, 2014 under the F5 Networks, Inc. stock purchase plan.

F3: This transaction was executed pursuant to a Rule 10b5-1 trading plan, in multiple trades at prices ranging from $104.72 to $105.49. 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.

F4: This transaction was executed pursuant to a Rule 10b5-1 trading plan, in multiple trades at prices ranging from $105.85 to $106.81. 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.

F5: This transaction was executed pursuant to a Rule 10b5-1 trading plan, in multiple trades at prices ranging from $106.95 to $107.12 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.

F6: Each Restricted Stock Unit represents a contingent right to receive one share of F5 Networks, Inc. Common Stock on the vest date.

F7: Twenty-five percent (25%) of the August 1, 2012 award of service-based Restricted Stock Units vested August 1, 2013, and the remaining seventy-five (75%) vests in twelve equal quarterly increments beginning November 1, 2013.

F8: 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.

F9: The November 1, 2012 award of service-based Restricted Stock Units vests in sixteen equal quarterly increments beginning February 1, 2013.

F10: The November 1, 2013 award of service-based Restricted Stock Units vests in sixteen equal quarterly increments beginning February 1, 2014.