X0303 4/A 2010-01-04 2010-01-06 0 0001091171 BLUE NILE INC NILE 0001287613 VADON MARK C C/O BLUE NILE, INC. 705 FIFTH AVENUE S, STE 900 SEATTLE WA 98104 1 1 0 0 Executive Chairman Common Stock 2010-01-04 4 M 0 31700 0.275 A 403090 D Common Stock 2010-01-04 4 S 0 31700 63.2358 D 371390 D Common Stock 2010-01-05 4 M 0 45071 0.275 A 416461 D Common Stock 2010-01-05 4 S 0 45071 62.4645 D 371390 D Common Stock 2010-01-06 4 M 0 18700 0.275 A 390090 D Common Stock 2010-01-06 4 S 0 18700 62.1196 D 371390 D Stock Option (Right to Buy) 0.275 2010-01-04 4 M 0 31700 D 2012-02-25 Common Stock 31700 70071 D Stock Option (Right to Buy) 0.275 2010-01-05 4 M 0 45071 D 2012-02-25 Common Stock 45071 25000 D Stock Option (Right to Buy) 0.275 2010-01-06 4 M 0 18700 D 2012-02-25 Common Stock 18700 6300 D This sale was affected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person. Represents the weighted average sale price. The highest price at which shares were sold was $64.38 and the lowest price at which shares were sold was $62.64. Represents the weighted average sale price. The highest price at which shares were sold was $63.00 and the lowest price at which shares were sold was $62.00. Represents the weighted average sale price. The highest price at which shares were sold was $63.01 and the lowest price at which shares were sold was $62.00. 25% of the option shares vest on August 26, 2002 and one-forty-eighth of the option shares vest in equal monthly installments over the following thirty-six months. Not applicable. The reporting person filed a Form 4 on January 6, 2010 reporting sales of common stock on January 4, 5 and 6, 2010, but failed to report related option exercises. This Form 4 is being filed to report these option exercises. /s/ Lauren Neiswender, Power of Attorney 2010-01-20