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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
836106	Novellus Systems Inc	NVLS	Special Industry Machinery, Nec (3559)	770024666

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1417778	John Hertz	4000 North First Street San Jose CA 95134	Vp And Chief Financial Officer	No	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2010-12-13	2,500	$26.15	7,500	No	4	M	Direct
Common Stock	Disposition	2010-12-13	2,500	$33.11	5,000	No	4	S	Direct
Common Stock	Acquisiton	2010-12-13	625	$0.00	5,625	No	4	M	Direct
Common Stock	Disposition	2010-12-13	222	$32.73	5,403	No	4	F	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	S	Direct
No	4	M	Direct
No	4	F	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Non Qualified Stock Option (Right to Buy)	Disposition	2010-12-13	2,500	$0.00	2,500	$26.15
Common Stock	Restricted Stock Unit	Disposition	2010-12-13	625	$0.00	625	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
2,500		2017-12-13	No	4	M	Direct
3,125			No	4	M	Direct

Footnotes

Amount reported includes shares subject to unvested Restricted Stock Awards.
Securities were sold pursuant to a 10b5-1 Plan.
The grant vests in four annual equal installments beginning December 13, 2008.
Each restricted stock unit represents a contingent right to receive one share of NVLS common stock.
Subject to the reporting person's continued employment, fifty percent (50%) of the shares will vest in four annual equal installments beginning December 13, 2008. The remaining fifty percent (50%) of the shares will vest upon achievement of specific revenue targets by March 31, 2011. If the performance conditions are not met by the target date, shares will be forfeited.