WOLFSPEED, INC. — Director's Dealing 2010

May 4, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CREE INC (CREE)
CIK: 0000895419
Period of Report: 2010-05-03

Reporting Person: PLASTINA FRANCO (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-05-03	COMMON STOCK	M	5000	$22.90	Acquired	18750	Direct
2010-05-03	COMMON STOCK	M	3750	$27.47	Acquired	22500	Direct
2010-05-03	COMMON STOCK	M	2500	$35.89	Acquired	25000	Direct
2010-05-03	COMMON STOCK	S	10000	$76.00	Disposed	15000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-05-03	NONQUALIFIED STOCK OPTION (RIGHT TO BUY)	$22.90	M	5000	Disposed	2015-09-02	COMMON STOCK (5000)	Direct
2010-05-03	NONQUALIFIED STOCK OPTION (RIGHT TO BUY)	$27.47	M	3750	Disposed	2014-12-31	COMMON STOCK (3750)	Direct
2010-05-03	NONQUALIFIED STOCK OPTION (RIGHT TO BUY)	$35.89	M	2500	Disposed	2016-09-01	COMMON STOCK (2500)	Direct

Footnotes

F1: Option vested as to 1,250 shares on each of December 31, 2008, March 31, 2009, June 30, 2009 and September 30, 2009.

F2: Option vested as to 1,250 shares on each of March 31, 2008, June 30, 2008 and September 30, 2008.

F3: Option vests as to 1,250 shares on each of December 31, 2009, March 31, 2010, June 30, 2010 and September 30, 2010 or, if earlier, upon the election of directors at the 2010 Annual Meeting of Shareholders.