F5, INC. — Director's Dealing 2017

May 2, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: F5 NETWORKS INC (FFIV)
CIK: 0001048695
Period of Report: 2017-04-28

Reporting Person: Kearny Ryan C. (CTO& EVP, Product & Technology)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-04-28	Common Stock	A	340	$0.00	Acquired	966	Direct
2017-05-01	Common Stock	M	851	$0.00	Acquired	1817	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-01	Restricted Stock Unit	$0.00	M	509	Disposed		Common Stock (509)	Direct
2017-05-01	Restricted Stock Unit	$0.00	M	342	Disposed		Common Stock (342)	Direct

Footnotes

F1: Shares acquired based on performance targets for the November 1, 2016 award of Restricted Stock Units.

F2: Shares acquired upon vesting of the November 2, 2015 and November 1, 2016 awards of service-based Restricted Stock Units.

F3: Each Restricted Stock Unit represents a contingent right to receive one share of F5 Networks, Inc. Common Stock on the vest date.

F4: The service-based Restricted Stock Units outstanding under this 11/02/2015 grant vest as follows: 508 vest 11/01/2016, 508 vest 02/01/2017, 509 vest 05/01/2017, 508 vest 08/01/2017, and 509 vest 11/01/2017.

F5: 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.

F6: This November 1, 2016 award of service-based Restricted Stock Units vests in sixteen equal quarterly increments beginning February 1, 2017.