NEKTAR THERAPEUTICS — Director's Dealing 2014

Dec 24, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEKTAR THERAPEUTICS (NKTR)
CIK: 0000906709
Period of Report: 2014-12-22

Reporting Person: Thomsen Jillian B. (SVP & Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-22	Common Stock	M	5000	$11.38	Acquired	7999	Direct
2014-12-22	Common Stock	S	5000	$15.56	Disposed	2999	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-12-22	Stock Option	$11.38	M	5000	Disposed	2015-03-15	Common Stock (5000)	Direct

Footnotes

F1: This transaction was made pursuant to a Rule 10b5-1 trading plan.

F2: This number includes 988 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).

F3: This number includes 750 shares held by the reporting person in his account under the Issuer's ESPP. The acquisition of these shares under that plan is exempt under Rule 16b-3(c)

F4: This transaction was executed in multiple trades at prices ranging from $15.55 to $15.66. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and the prices at which the transactions were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.