NEKTAR THERAPEUTICS — Director's Dealing 2010

Mar 24, 2010

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: NEKTAR THERAPEUTICS (NKTR)
CIK: 0000906709
Period of Report: 2010-03-22

Reporting Person: Ghosh Rinko (SVP and Chief Business Officer)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8664	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$31.87	2011-05-13	Common Stock (20000)		Direct
Employee Stock Option	$7.25	2012-05-13	Common Stock (2800)		Direct
Employee Stock Option	$7.84	2013-05-13	Common Stock (1400)		Direct
Employee Stock Option	$18.95	2013-02-06	Common Stock (3000)		Direct
Employee Stock Option	$18.76	2013-07-31	Common Stock (2000)		Direct
Employee Stock Option	$16.39	2014-08-14	Common Stock (15000)		Direct
Employee Stock Option	$11.38	2015-03-15	Common Stock (9900)		Direct
Employee Stock Option	$6.65	2016-03-19	Common Stock (100000)		Direct
Employee Stock Option	$4.65	2017-02-22	Common Stock (40000)		Direct
Employee Stock Option	$4.65	2017-02-22	Common Stock (60000)		Direct
Employee Stock Option	$9.20	2017-12-10	Common Stock (100000)		Direct
Employee Stock Option	$11.34	2018-01-31	Common Stock (60000)		Direct
Employee Stock Option	$11.34	2018-01-31	Common Stock (60000)		Direct
Employee Stock Option	$15.19	2018-03-21	Common Stock (100000)		Direct
Restricted Stock Unit	$0.01	2014-01-31	Common Stock (7200)		Direct
Restricted Stock Unit	$0.01		Common Stock (1089)		Direct

Footnotes

F1: 20% of the shares subject to the stock option vested on the first anniversary of the grant date (May 14, 2001) and the remaining shares vested a monthly pro-rata basis over the following 4 years.

F2: The shares subject to the stock option vested on a monthly pro-rata basis over five years from the grant date (May 14, 2002).

F3: The shares subject to the stock option vested on a monthly pro-rata basis over five years from the grant date (May 14, 2003).

F4: The shares subject to the stock option vested on a monthly pro-rata basis over five years from the grant date (February 7, 2005).

F5: The shares subject to the stock option vest on a monthly pro-rata basis over five years from the grant date (August 1, 2005).

F6: The shares subject to the stock option vest on a monthly pro-rata basis over five years from the grant date (August 15, 2006).

F7: The shares subject to the stock option vest on a monthly pro-rata basis over four years from the grant date (March 16, 2007).

F8: 25% of the shares subject to the stock option vest on the first anniversary of the grant date (March 20, 2008) and the remaining shares vest on a monthly pro-rata basis over the following 3 years.

F9: The shares subject to the stock option vest on a monthly pro-rata basis over four years from the grant date (February 23, 2009).

F10: 25% of the shares subject to the stock option vest on the first anniversary of the grant date (February 23, 2009) and the remaining shares vest on a monthly pro-rata basis over the following 3 years.

F11: 25% of the shares subject to the stock option vest on the first anniversary of the grant date (December 11, 2009) and the remaining shares vest on a monthly pro-rata basis over the following 3 years.

F12: 25% of the shares subject to the stock option vest on the first anniversary of the grant date (February 1, 2010) and the remaining shares vest on a monthly pro-rata basis over the following 3 years

F13: The shares subject to the stock option vest on a monthly pro-rata basis over four years from the grant date (February 1, 2010).

F14: The shares subject to the stock option vest on a monthly pro-rata basis over four years from the grant date (March 22, 2010).

F15: The shares subject to this restricted stock unit vest based on the achievement of certain corporate milestones.

F16: The shares subject to this restricted stock unit are vested but not yet released.

F17: Not applicable.