NEKTAR THERAPEUTICS — Director's Dealing 2016

Dec 10, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEKTAR THERAPEUTICS (NKTR)
CIK: 0000906709
Period of Report: 2016-12-07

Reporting Person: ROBIN HOWARD W (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-12-07	Common Stock	M	87500	$4.65	Acquired	210408	Direct
2016-12-07	Common Stock	S	87500	$12.24	Disposed	122908	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-12-07	Stock Option	$4.65	M	87500	Disposed	2017-02-22	Common Stock (87500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	410	Indirect

Footnotes

F1: This transaction was made pursuant to a Rule 10b5-1 trading plan (the "Expiring Option Plan") adopted by Mr. Robin in May 2015 and reported on a Form 8-K filed by Nektar Therapeutics on July 16, 2015. The Expiring Option Plan provides for the exercise and same-day sale of expiring stock options held by Mr. Robin on a monthly pro-rata basis on pre-specified dates over the six month period prior to stock option expiration.

F2: This transaction was executed in multiple trades at prices ranging from $12.02 to $12.60. 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.