WOLFSPEED, INC. — Director's Dealing 2010

Apr 23, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CREE INC (CREE)
CIK: 0000895419
Period of Report: 2010-04-22

Reporting Person: KURTZWEIL JOHN T (EXECUTIVE VP, CFO, TREASURER)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-04-22	COMMON STOCK	M	30000	$20.50	Acquired	66243	Direct
2010-04-22	COMMON STOCK	S	16000	$74.77	Disposed	50243	Direct
2010-04-22	COMMON STOCK	S	4000	$75.42	Disposed	46243	Direct
2010-04-22	COMMON STOCK	S	10000	$79.65	Disposed	36243	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-04-22	NONQUALIFIED STOCK OPTION (RIGHT TO BUY)	$20.50	M	30000	Disposed	2013-10-02	COMMON STOCK (30000)	Direct

Footnotes

F1: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Kurtzweil on March 1, 2010.

F2: The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $74.2818 to $75.2623, inclusive. Mr. Kurtzweil undertakes to provide to Cree, Inc., any security holder of Cree, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F3: The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $75.2928 to $76.56, inclusive. Mr. Kurtzweil undertakes to provide to Cree, Inc., any security holder of Cree, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F4: The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $79.6111 to $79.6902, inclusive. Mr. Kurtzweil undertakes to provide to Cree, Inc., any security holder of Cree, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F5: Option vests as to 23,334 shares on October 2, 2007 and as to 23,333 shares on each of Octobrt 2, 2008 and October 2, 2009,