X0303 4 2008-12-18 0 0000836106 NOVELLUS SYSTEMS INC NVLS 0001185721 BENZING JEFFREY 0 1 0 0 EVP/Chief Administrative Off Common Stock 2008-12-18 4 M 0 10000 12.47 A 16762 I By Spouse Common Stock 2008-12-18 4 F 0 3575 12.47 D 13186 I By Spouse Common Stock 40663 D Common Stock 1533 I By 401K Non-Qualified Stock Option 12.47 2008-12-18 4 A 0 100000 12.47 A 2018-12-18 Common Stock 100000 100000 D Restricted Stock Unit 0 2008-12-18 4 A 0 18000 0 A 2012-12-18 Common Stock 18000 18000 D Restricted Stock Unit 0 2008-12-18 4 A 0 12000 0 A 2012-03-12 Common Stock 12000 12000 D Restricted Stock Award 12.47 2008-12-18 4 D 0 10000 0 D 2008-12-18 2008-12-18 Common Stock 10000 0 I By Spouse Non-Qualified Stock Option 12.47 2008-12-18 4 A 0 3000 12.47 A 2018-12-18 Common Stock 3000 3000 I By Spouse Restricted Stock Unit 0 2008-12-18 4 A 0 1500 0 A 2012-12-18 Common Stock 1500 1500 I By Spouse Represents derivative securities that were converted to common stock through the vesting of a Restricted Stock Award for Mrs. Benzing. Represents the Company's closing stock price on date of release/grant. Shares were forfeited to cover tax obligation upon vesting of the Restricted Stock Award for Mrs. Benzing. The indirect holdings by Mrs. Benzing include 926 estimated shares held in the Company 401k unitized stock fund. The balance is reported as of the last business day. The remaining shares are held in Common Stock and unvested Restricted Stock Awards. Amount of securities beneficially owned by reporting person. The indirect holdings in the 401K are held in the Company's unitized stock fund. The balance is reported as of the last business day. The grant vests in four annual equal installments beginning December 18, 2009. Each Restricted Stock Unit represents a contingent right to receive one share of NVLS Common Stock. Subject to the reporting person's continued employment, the achievement measurement date will be 12/31/2011, and the vesting date will be 3/12/2012. This grant will vest only if the Company achieves compounded annual revenue growth over 7.5% for the three year period ended 12/31/2011. Jeffrey Benzing 2008-12-22