X0304 4 2012-01-27 1 0001091171 BLUE NILE INC NILE 0001287611 IRVINE DIANE M C/O BLUE NILE, INC. 411 FIRST AVENUE S, STE 700 SEATTLE WA 98104 0 1 0 0 Former CEO Common Stock 2012-01-27 4 M 0 18500 31.26 A 66989 D Common Stock 2012-01-27 4 S 0 18500 41.06 D 48489 D Common Stock 2012-01-30 4 M 0 730 31.26 A 49219 D Common Stock 2012-01-30 4 S 0 730 40.25 D 48489 D Common Stock 2012-01-30 4 M 0 2770 32.97 A 51259 D Common Stock 2012-01-30 4 S 0 2770 40.25 D 48489 D Common Stock 1160 I By Son Common Stock 1160 I By Daughter Common Stock 1160 I By Daughter Stock Options (Right to Buy) 31.26 2012-01-27 4 M 0 18500 D 2016-05-31 Common Stock 18500 730 D Stock Options (Right to Buy) 31.26 2012-01-30 4 M 0 730 D 2016-05-31 Common Stock 730 0 D Stock Options (Right to Buy) 32.97 2012-01-30 4 M 0 2770 D 2015-08-30 Common Stock 2770 59230 D Any short-swing profits will be paid to the company as required by Rule 16(b) of the Securities and Exchange Act of 1934. Represents the weighted average sale price. The highest price at which shares were sold was $41.52 and lowest price at which shares were sold was $40.75. 25% of the option shares vested on June 1, 2007 and one-forty-eighth of the option shares vested in equal monthly installments over the following thirty-six months. As of November 11, 2011, all unvested options were canceled. Ms. Irvine resigned on November 11, 2011. Her vested and exercisable options will expire on May 11, 2012. Not applicable. 25% of the option shares vested on August 26, 2006 and one-forty-eighth of the option shares vested in equal monthly installments over the following thirty-six months. As of November 11, 2011, all unvested options were canceled. /s/ Lauren Neiswender, Power of Attorney 2012-01-31