WOLFSPEED, INC. — Director's Dealing 2010

Dec 3, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CREE INC (CREE)
CIK: 0000895419
Period of Report: 2010-12-01

Reporting Person: WERNER THOMAS H (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-01	COMMON STOCK	M	5000	$18.49	Acquired	32500	Direct
2010-12-01	COMMON STOCK	M	5000	$22.90	Acquired	37500	Direct
2010-12-01	COMMON STOCK	S	10000	$66.79	Disposed	27500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-12-01	NONQUALIFIED STOCK OPTION (RIGHT TO BUY)	$18.49	M	5000	Disposed	2013-09-01	COMMON STOCK (5000)	Direct
2010-12-01	NONQUALIFIED STOCK OPTION (RIGHT TO BUY)	$22.90	M	5000	Disposed	2015-09-02	COMMON STOCK (5000)	Direct

Footnotes

F1: The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $66.67 to $66.92, inclusive. Mr. Werner 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.

F2: Of the 27,500 shares reported, 25,500 shares are held directly and 2,000 shares are held indirectly by a family trust.

F3: Option vested as to 1,250 shares on each of December 31, 2006, March 31, 2007, June 30, 2007 and September 30, 2007.

F4: Option vested as to 1,250 shares on each of December 31, 2008, March 31, 2009, June 30, 2009 and September 30, 2009.