NEKTAR THERAPEUTICS — Director's Dealing 2014

Dec 31, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEKTAR THERAPEUTICS (NKTR)
CIK: 0000906709
Period of Report: 2014-12-29

Reporting Person: CHESS ROBERT (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-29	Common Stock	M	29500	$15.24	Acquired	290123	Direct
2014-12-29	Common Stock	S	29500	$15.34	Disposed	260623	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-12-29	Stock Option	$15.24	M	29500	Disposed	2015-01-02	Common Stock (29500)	Direct

Footnotes

F1: This transaction was made pursuant to a Rule 10b5-1 trading plan for stock options expiring in the near-term.

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