NEKTAR THERAPEUTICS — Director's Dealing 2014

Nov 26, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEKTAR THERAPEUTICS (NKTR)
CIK: 0000906709
Period of Report: 2014-11-24

Reporting Person: Labrucherie Gil M (SVP & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-11-24	Common Stock	M	10500	$13.02	Acquired	14251	Direct
2014-11-24	Common Stock	S	10500	$15.04	Disposed	3751	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-11-24	Stock Option	$13.02	M	10500	Disposed	2015-04-01	Common Stock (10500)	Direct

Footnotes

F1: This transaction was made pursuant to a Rule 10b5-1 trading plan scheduled to expire in the near term.

F2: This number includes 997 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 250 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 $15.00 to $15.19. 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.