X0304 4 2012-01-05 0000889930 OVERLAND STORAGE INC OVRL 0001302247 Kelly Eric C/O OVERLAND STORAGE, INC. 9112 SPECTRUM CENTER BOULEVARD SAN DIEGO CA 92123 1 1 0 0 President & CEO Common Stock 2012-01-05 4 S 0 11100 2.4887 D 1661960 D Common Stock 2012-01-06 4 S 0 4100 2.4126 D 1657860 D Common Stock 2012-01-09 4 S 0 1900 2.3611 D 1659760 D The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 15, 2011. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.39 to $2.59, inclusive. The reporting person undertakes to provide to Overland Storage, Inc. ("Overland"), any security holder of Overland, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.40 to $2.50, inclusive. The reporting person undertakes to provide to Overland Storage, Inc. ("Overland"), any security holder of Overland, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.32 to $2.39, inclusive. The reporting person undertakes to provide to Overland Storage, Inc. ("Overland"), any security holder of Overland, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein. /s/ Denise Garrett as Attorney-in-fact for Eric Kelly 2012-01-09