WOLFSPEED, INC. — Director's Dealing 2010

Nov 26, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CREE INC (CREE)
CIK: 0000895419
Period of Report: 2010-11-23

Reporting Person: SWOBODA CHARLES M (Director, Chaiman, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-23	COMMON STOCK	M	6000	$27.47	Acquired	253363	Direct
2010-11-23	COMMON STOCK	S	6000	$59.06	Disposed	247363	Direct
2010-11-24	COMMON STOCK	M	14000	$27.47	Acquired	261363	Direct
2010-11-24	COMMON STOCK	M	40000	$22.90	Acquired	300363	Direct
2010-11-24	COMMON STOCK	S	14000	$60.15	Disposed	287363	Direct
2010-11-24	COMMON STOCK	S	40000	$64.08	Disposed	247363	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-11-23	NONQUALIFIED STOCK OPTION (RIGHT TO BUY)	$27.47	M	6000	Disposed	2014-09-04	COMMON STOCK (6000)	Direct
2010-11-24	NONQUALIFIED STOCK OPTION (RIGHT TO BUY)	$27.47	M	14000	Disposed	2014-09-04	COMMON STOCK (14000)	Direct
2010-11-24	NONQUALIFIED STOCK OPTION (RIGHT TO BUY)	$22.90	M	40000	Disposed	2015-09-02	COMMON STOCK (40000)	Direct

Footnotes

F1: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Swoboda on December 3, 2009.

F2: The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $59.00 to $59.19, inclusive. Mr. Swoboda undertakes to provide Cree, Inc., any security holder of Cree, Inc., or the staff of the Securities Exchange Commission, upon request, 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 $59.566948 to $60.423997, inclusive. Mr. Swoboda undertakes to provide Cree, Inc., any security holder of Cree, Inc., or the staff of the Securities Exchange Commission, upon request, 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 $64.00 to $64.238, inclusive. Mr. Swoboda undertakes to provide Cree, Inc., any security holder of Cree, Inc., or the staff of the Securities Exchange Commission, upon request, information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F5: Option vested as to 25,000 shares on each of September 4, 2008, September 4, 2009 and September 4, 2010.

F6: Option vests as to 40,000 shares on each of September 2, 2009, September 2, 2010 and September 2, 2011.