WOLFSPEED, INC. — Director's Dealing 2010

Oct 25, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CREE INC (CREE)
CIK: 0000895419
Period of Report: 2010-10-22

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-10-22	COMMON STOCK	M	26667	$22.90	Acquired	55599	Direct
2010-10-22	COMMON STOCK	S	26667	$49.58	Disposed	28932	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-10-22	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: The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $49.25 to $49.92, inclusive. Mr. Kelley 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 option vests as to 26,667 shares on each of September 2, 2009 and September 2, 2010 and as to 26,666 shares on September 2, 2011.