NEKTAR THERAPEUTICS — Director's Dealing 2016

May 18, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEKTAR THERAPEUTICS (NKTR)
CIK: 0000906709
Period of Report: 2016-05-16

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-16	Common Stock	M	5625	$0.0001	Acquired	19103	Direct
2016-05-17	Common Stock	S	2170	$13.58	Disposed	16933	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-16	Restricted Stock Unit	$0.0001	D	5625	Disposed	2016-05-16	Common Stock (5625)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	410	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $13.27 to $13.92. 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.