NEKTAR THERAPEUTICS — Director's Dealing 2012

Jul 17, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEKTAR THERAPEUTICS (NKTR)
CIK: 0000906709
Period of Report: 2012-07-13

Reporting Person: CHESS ROBERT (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-07-13	Common Stock	M	24001	$6.12	Acquired	284624	Direct
2012-07-13	Common Stock	S	24001	$8.50	Disposed	260623	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-07-13	Stock Option	$6.12	M	24001	Disposed	2012-10-30	Common Stock (24001)	Direct

Footnotes

F1: Stock option exercise and sale executed under an existing trading plan previously adopted by the Reporting Person under Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended. The stock option being exercised expires on October 30, 2012.

F2: This number includes 4,914 shares held by the reporting person in his account under the issuer's 401(k) plan. The acquisition of these shares under the plan is exempt under Rule 16b-3(c).