F5, INC. — Director's Dealing 2016

Nov 1, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: F5 NETWORKS INC (FFIV)
CIK: 0001048695
Period of Report: 2016-10-28

Reporting Person: Reinland Andrew (EVP, Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-10-28	Common Stock	A	3189	$0.00	Acquired	17774	Direct
2016-11-01	Common Stock	M	3327	$0.00	Acquired	21101	Direct
2016-11-01	Common Stock	S	1015	$136.3667	Disposed	20086	Direct
2016-11-01	Common Stock	S	1722	$137.3467	Disposed	18364	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-10-28	Restricted Stock Units	$0.00	A	9856	Acquired		Common Stock (9856)	Direct
2016-10-28	Restricted Stock Units	$0.00	A	7301	Acquired		Common Stock (7301)	Direct
2016-11-01	Restricted Stock Units	$0.00	M	956	Disposed		Common Stock (956)	Direct
2016-11-01	Restricted Stock Units	$0.00	M	947	Disposed		Common Stock (947)	Direct
2016-11-01	Restricted Stock Units	$0.00	M	661	Disposed		Common Stock (661)	Direct
2016-11-01	Restricted Stock Units	$0.00	M	763	Disposed		Common Stock (763)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	918	Indirect

Footnotes

F1: Shares acquired based on performance targets for the November 1, 2012, November 1, 2013, November 3, 2014 and November 2, 2015 awards of Restricted Stock Units.

F2: Shares acquired upon vesting of the November 1, 2012, November 1, 2013, November 3, 2014 and November 2, 2015 awards of service-based Restricted Stock Units.

F3: This transaction was executed pursuant to a Rule 10b5-1 trading plan, in multiple trades at prices ranging from $135.96 to $136.88 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 $136.97 to $137.87 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: The reporting person disclaims beneficial ownership of these securities. This report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

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

F7: Concurrent with the award of service-based Restricted Stock Units, the Company granted the reporting person additional Restricted Stock Units that vest based on performance targets ("Performance RSUs"). If the performance targets are achieved at 100%, the reporting person will receive 9,856 Performance RSUs over the vesting period; the actual number of Performance RSUs received may be more or less depending on whether and to the extent that performance is greater than or less than targets. Performance RSUs are not reported in Table II; the underlying shares of Performance RSUs will be reported in Table I if and when the Compensation Committee of the Board of Directors determines that the performance targets have been achieved.

F8: This November 1, 2016 award of service-based Restricted Stock Units vests in sixteen equal quarterly increments beginning February 1, 2017.

F9: 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.

F10: This November 1, 2016 award of service-based Restricted Stock Units vests 100% on November 1, 2018.

F11: This November 1, 2012 award of service-based Restricted Stock Units vests in sixteen equal quarterly increments beginning February 1, 2013.

F12: This November 1, 2013 award of service-based Restricted Stock Units vests in sixteen equal quarterly increments beginning February 1, 2014.

F13: This November 3, 2014 award of service-based Restricted Stock Units vests in sixteen equal quarterly increments beginning February 1, 2015.

F14: This November 2, 2015 award of service-based Restricted Stock Units vests in sixteen equal quarterly increments beginning February 1, 2016.