X0304 4 2012-02-17 0 0000916085 HEALTH NET INC HNT 0001213928 GELLERT JAY M 21650 OXNARD STREET WOODLAND HILLS CA 91367 1 1 0 0 President, CEO Common Stock 2012-02-17 4 A 0 50000 0 A 954148 D Common Stock 2012-02-18 4 F 0 6674 39.34 D 947474 D Common Stock 2012-02-18 4 F 0 13337 39.34 D 934137 D Represents 50,000 Restricted Stock Units ("RSUs") granted to the Reporting Person on February 17, 2012 (the "2012 Grant") under the Issuer's 2006 Long-Term Incentive Plan, as amended (the "2006 Plan"), which RSUs vest and become non-forfeitable with respect to 33-1/3% of the RSUs on each of the first, second and third anniversaries of the 2012 Grant. Shares forfeited in lieu of payment of tax liability in connection with the vesting of 50% of a grant of 37,500 RSUs made to the Reporting Person on February 18, 2008 pursuant to the 2006 Plan (the "2008 Grant"). The number of shares forfeited by the Reporting Person for the 2008 Grant was based on the closing price of the Issuer's common stock on February 17, 2012, pursuant to the terms of the 2006 Plan. Shares forfeited in lieu of payment of tax liability in connection with the vesting of 33-1/3% of a grant of 90,000 RSUs made to the Reporting Person on February 18, 2011 pursuant to the 2006 Plan (the "2011 Grant"). The number of shares forfeited by the Reporting Person for the 2011 Grant was based on the closing price of the Issuer's common stock on February 17, 2012, pursuant to the terms of the 2006 Plan. /s/ Jay M. Gellert 2012-02-22