WOLFSPEED, INC. — Director's Dealing 2011

Sep 2, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CREE INC (CREE)
CIK: 0000895419
Period of Report: 2011-08-31

Reporting Person: WAGNER HARVEY A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-08-31	COMMON STOCK	M	16000	$31.24	Acquired	36000	Direct
2011-08-31	COMMON STOCK	S	16000	$32.12	Disposed	20000	Direct
2011-09-01	COMMON STOCK	A	4000	—	Acquired	24000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-08-31	NONQUALIFIED STOCK OPTION (RIGHT TO BUY)	$31.24	M	16000	Disposed	2011-10-01	COMMON STOCK (16000)	Direct
2011-09-01	NONQUALIFIED STOCK OPTION (RIGHT TO BUY)	$30.92	A	4000	Acquired	2018-09-01	COMMON STOCK (4000)	Direct

Footnotes

F1: The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Wagner on May 17, 2011.

F2: The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $31.90 to $32.25, inclusive. Mr. Wagner 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: Restricted stock award vesting September 1, 2012.

F4: Option vested as to 4,000 shares on each of December 31, 2004, March 31, 2005, June 30, 2005 and September 30, 2005.