Netlist, Inc. — Director's Dealing 2008

Jan 4, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NETLIST INC (NLST)
CIK: 0001282631
Period of Report: 2008-01-02

Reporting Person: Hong Chun K (Director, President, CEO and Chairman, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-01-02	Employee Stock Option (Right to Buy)	$2.20	A	120000	Acquired	2018-01-02	Common Stock (120000)	Direct

Footnotes

F1: The option vests with respect to 25% of the underlying shares on the first anniversary of the date of grant. The remainder of the option vests in 36 equal monthly installments thereafter.