WOLFSPEED, INC. — Director's Dealing 2010

Jan 25, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CREE INC (CREE)
CIK: 0000895419
Period of Report: 2010-01-21

Reporting Person: Kelley Stephen Douglas (EXECUTIVE VICE PRESIDENT, COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-01-21	COMMON STOCK	M	26667	$22.9000	Acquired	51807	Direct
2010-01-21	COMMON STOCK	S	1000	$62.0500	Disposed	50807	Direct
2010-01-21	COMMON STOCK	S	1000	$62.1000	Disposed	49807	Direct
2010-01-21	COMMON STOCK	S	600	$62.2400	Disposed	49207	Direct
2010-01-21	COMMON STOCK	S	2400	$62.2500	Disposed	46807	Direct
2010-01-21	COMMON STOCK	S	1000	$62.2600	Disposed	45807	Direct
2010-01-21	COMMON STOCK	S	1000	$62.2700	Disposed	44807	Direct
2010-01-21	COMMON STOCK	S	2000	$62.3300	Disposed	42807	Direct
2010-01-21	COMMON STOCK	S	3437	$62.3500	Disposed	39370	Direct
2010-01-21	COMMON STOCK	S	2000	$62.3600	Disposed	37370	Direct
2010-01-21	COMMON STOCK	S	1000	$62.3994	Disposed	36370	Direct
2010-01-21	COMMON STOCK	S	3000	$62.4000	Disposed	33370	Direct
2010-01-21	COMMON STOCK	S	1000	$62.4010	Disposed	32370	Direct
2010-01-21	COMMON STOCK	S	1000	$62.4200	Disposed	31370	Direct
2010-01-21	COMMON STOCK	S	1000	$62.4239	Disposed	30370	Direct
2010-01-21	COMMON STOCK	S	1000	$62.4500	Disposed	29370	Direct
2010-01-21	COMMON STOCK	S	1000	$62.4514	Disposed	28370	Direct
2010-01-21	COMMON STOCK	S	1000	$62.4588	Disposed	27370	Direct
2010-01-21	COMMON STOCK	S	230	$62.4913	Disposed	27140	Direct
2010-01-21	COMMON STOCK	S	1000	$62.5016	Disposed	26140	Direct
2010-01-21	COMMON STOCK	S	1000	$62.5025	Disposed	25140	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-01-21	NONQUALIFIED STOCK OPTION (RIGHT TO BUY)	$22.90	M	26667	Disposed	2015-09-02	COMMON STOCK (26667)	Direct

Footnotes

F1: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Kelley on December 4, 2009.

F2: Option vests as to 26,667 shares on September 2, 2009 and September 2, 2010 and as to 26,666 shares on September 2, 2011.