X0304 4 2012-03-16 0 0001032761 KEYNOTE SYSTEMS INC KEYN 0001184213 BOESENBERG CHARLES C/O KEYNOTE SYSTEMS 777 MARINERS ISLAND BLVD. SAN MATEO CA 94404 1 0 0 0 Common Stock 2012-03-16 4 M 0 15000 0.00 A 16667 D Restricted Stock Units 0.00 2012-03-16 4 M 0 15000 0.00 D Common Stock 15000 0 D Restricted Stock Units 0.00 2012-03-16 4 A 0 15000 0.00 A Common Stock 15000 15000 D Non-Employee Option Grant 10.62 2007-03-24 2016-09-11 Common Stock 60000 22336 D Non-Employee Option Grant 12.13 2007-02-02 2017-02-02 Common Stock 5000 5000 D Non-Employee Option Grant 13.51 2010-03-19 2017-03-22 Common Stock 15000 15000 D Non-Employee Option Grant 9.86 2008-02-01 2018-02-01 Common Stock 5000 5000 D Non-Employee Option Grant 11.97 2011-03-17 2018-03-20 Common Stock 15000 15000 D Vesting of Restricted Stock Units granted to Reporting Person on 7/1/2009. Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's common stock. The Restricted Stock Units will be fully vested on the date of the Company's 2012 Annual Meeting of Stockholders. The Restricted Stock Units will vest one-third on 3/16/2013, 3/16/2014 and 3/16/2015. Option is fully vested as of the filing of this Form 4. /s/ Charles Boesenberg 2012-03-16