QUINSTREET, INC — Director's Dealing 2011

May 10, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: QUINSTREET, INC (QNST)
CIK: 0001117297
Period of Report: 2011-05-05

Reporting Person: Caul Daniel E (General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-05	Common Stock	M	2500	$10.28	Acquired	2500	Direct
2011-05-05	Common Stock	S	2500	$19.75	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-05	Incentive Stock Option (right to buy)	$10.28	M	2500	Disposed	2015-01-29	Common Stock (2500)	Direct

Footnotes

F1: These shares were sold pursuant to Mr. Caul's 10b5-1 Plan established on May 24, 2010.

F2: When ISO and NQ options sharing the same grant date are combined, the option shares vest and become exercisable at a rate of 25% of the shares underlying the option on the first anniversary of the vesting commencement date, which is the date of grant, and the remainder of the shares underlying the option vest in equal monthly installments over the remaining 36 months thereafter.