SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
SWOBODA CHARLES M
(Last) (First) (Middle)
C/O CREE, INC.
4600 SILICON DRIVE
(Street)
DURHAM NC 27703
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CREE INC [ CREE ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
CHAIRMAN, PRESIDENT AND CEO
3. Date of Earliest Transaction (Month/Day/Year)
02/18/2010
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
COMMON STOCK 12/14/2009 G 3,000 D $0.0000 228,412 D
COMMON STOCK 02/18/2010 M 37,500 A $27.47 265,912 D
COMMON STOCK 02/18/2010 M 40,000 A $22.9 305,912 D
COMMON STOCK 02/18/2010 S(1) 3,000 D $64 302,912 D
COMMON STOCK 02/18/2010 S(1) 1,200 D $64.01 301,712 D
COMMON STOCK 02/18/2010 S(1) 1,000 D $64.02 300,712 D
COMMON STOCK 02/18/2010 S(1) 2,000 D $64.03 298,712 D
COMMON STOCK 02/18/2010 S(1) 1,000 D $64.042 297,712 D
COMMON STOCK 02/18/2010 S(1) 2,000 D $64.05 295,712 D
COMMON STOCK 02/18/2010 S(1) 2,500 D $64.06 293,212 D
COMMON STOCK 02/18/2010 S(1) 1,000 D $64.08 292,212 D
COMMON STOCK 02/18/2010 S(1) 2,500 D $64.09 289,712 D
COMMON STOCK 02/18/2010 S(1) 1,000 D $64.0918 288,712 D
COMMON STOCK 02/18/2010 S(1) 5,900 D $64.1 282,812 D
COMMON STOCK 02/18/2010 S(1) 3,100 D $64.11 279,712 D
COMMON STOCK 02/18/2010 S(1) 5,000 D $64.15 274,712 D
COMMON STOCK 02/18/2010 S(1) 3,000 D $64.1513 271,712 D
COMMON STOCK 02/18/2010 S(1) 1,000 D $64.17 270,712 D
COMMON STOCK 02/18/2010 S(1) 3,260 D $64.18 267,452 D
COMMON STOCK 02/18/2010 S(1) 1,000 D $64.181 266,452 D
COMMON STOCK 02/18/2010 S(1) 2,000 D $64.1825 264,452 D
COMMON STOCK 02/18/2010 S(1) 3,000 D $64.19 261,452 D
COMMON STOCK 02/18/2010 S(1) 3,500 D $64.2206 257,952 D
COMMON STOCK 02/18/2010 S(1) 3,000 D $64.2207 254,952 D
COMMON STOCK 02/18/2010 S(1) 11,000 D $64.23 243,952 D
COMMON STOCK 02/18/2010 S(1) 3,540 D $64.351 240,412 D
COMMON STOCK 02/18/2010 S(1) 3,000 D $64.36 237,412 D
COMMON STOCK 02/18/2010 S(1) 3,000 D $64.37 234,412 D
COMMON STOCK 02/18/2010 S(1) 3,000 D $64.38 231,412 D
COMMON STOCK 02/18/2010 S(1) 3,000 D $64.41 228,412 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
NONQUALIFIED STOCK OPTION (RIGHT TO BUY) $27.47 02/18/2010 M 37,500 09/04/2008(2) 09/04/2014 COMMON STOCK 37,500 $0 37,500 D
NONQUALIFIED STOCK OPTION (RIGHT TO BUY) $22.9 02/18/2010 M 40,000 09/02/2009(3) 09/02/2015 COMMON STOCK 40,000 $0 80,000 D
Explanation of Responses:
1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Swoboda on December 3, 2009.
2. Option vests as to 25,000 shares on September 4, 2008, September 4, 2009 and September 4, 2010.
3. Option vests as to 40,000 shares on September 2, 2009, September 2, 2010 and September 2, 2011.
Remarks:
Tamara Cappelson, Attorney-In-Fact 02/19/2010
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.