X0304 4 2012-03-12 0 0001107694 RACKSPACE HOSTING, INC. RAX 0001450052 Lewandowski James C/O RACKSPACE HOSTING, INC. 5000 WALZEM RD. SAN ANTONIO TX 78218 0 1 0 0 SVP and GM, Hybrid Employee Stock Option (Right to Buy) 2012-03-12 4 M 0 5194 0 A 40431 D Employee Stock Option (Right to Buy) 2012-03-12 4 S 0 8077 53.0201 D 32354 D Employee Stock Option (Right to Buy) 19.51 2012-03-12 4 M 0 5194 0 D 2020-03-10 Common Stock 5194 10387 D Mr. Lewandowski sold 2,883 shares pursuant to provisions contained in the Company's Form of RSU Agreement and Amended and Restated 2007 Long Term Incentive Plan for the satisfaction of certain tax obligations. These shares were sold pursuant to Mr. Lewandowski's Rule 10b5-1 trading plan. The prices for the sales of these shares ranged from $52.65 to $53.73 per share. The registrant undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price. 1/4 of these shares shall vest and become exercisable on each anniversary of the grant date of March 10, 2010. /s/ William Alberts by Power of Attorney 2012-03-14