KUGEL WAYNE J 4

4 · CRAY INC · Filed Mar 24, 2009

Form 4

Period: 2009-03-20

Senior Vice President

Transactions

Disposition to Issuer
Stock Option (right to buy Common Stock)
2009-03-20$0.57/sh−6,250$3,562→ 27,600 total
Exercise: $10.00From: 2006-05-11Exp: 2015-05-11→ Common Stock (6,250 underlying)
Disposition to Issuer
Stock Option (right to buy Common Stock)
2009-03-20$0.78/sh−6,250$4,894→ 21,350 total
Exercise: $8.00From: 2006-05-11Exp: 2015-05-11→ Common Stock (6,250 underlying)
Disposition to Issuer
Stock Option (right to buy Common Stock)
2009-03-20$0.10/sh−3,871$387→ 46,350 total
Exercise: $27.56From: 2005-02-05Exp: 2014-02-05→ Common Stock (3,871 underlying)
Disposition to Issuer
Stock Option (right to buy Common Stock)
2009-03-20$0.10/sh−3,628$363→ 50,221 total
Exercise: $27.56From: 2005-02-05Exp: 2014-02-05→ Common Stock (3,628 underlying)
Disposition to Issuer
Stock Option (right to buy Common Stock)
2009-03-20$0.21/sh−6,250$1,344→ 40,100 total
Exercise: $14.00From: 2006-05-11Exp: 2015-05-11→ Common Stock (6,250 underlying)
Disposition to Issuer
Stock Option (right to buy Common Stock)
2009-03-20$0.38/sh−6,250$2,394→ 33,850 total
Exercise: $12.00From: 2006-05-11Exp: 2015-05-11→ Common Stock (6,250 underlying)
Disposition to Issuer
Stock Option (right to buy Common Stock)
2009-03-20$0.70/sh−6,350$4,445→ 15,000 total
Exercise: $10.56From: 2007-12-19Exp: 2016-12-19→ Common Stock (6,350 underlying)

Footnotes (1)

[F1]The options were tendered in exchange for a cash payment pursuant to an issuer tender offer described in the Tender Offer Statement on Schedule TO filed with the Commission on February 20, 2009, as amended on March 10, 2009. This transaction is exempt from Section 16(b) of the Securities Exhange Act of 1934 pursuant to Rule 16b-3(e).

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