NEKTAR THERAPEUTICS — Director's Dealing 2012

Oct 1, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEKTAR THERAPEUTICS (NKTR)
CIK: 0000906709
Period of Report: 2012-09-27

Reporting Person: KUEBLER CHRISTOPHER A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-09-27	Common Stock	M	12500	$8.66	Acquired	32500	Direct
2012-09-27	Common Stock	S	12500	$10.66	Disposed	20000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-09-27	Stock Option	$8.66	M	12500	Disposed	2012-12-04	Common Stock (12500)	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 was set to expire on December 4, 2012.