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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
1185713	Richard Hill	4000 North First Street San Jose CA 95134	Ceo	Yes	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	2010-12-14	3,306	$30.25	221,223	No	4	M	Direct
Common Stock	Disposition	2010-12-14	3,306	$32.72	217,917	No	4	S	Direct
Common Stock	Acquisiton	2010-12-14	296,694	$30.25	514,611	No	4	M	Direct
Common Stock	Disposition	2010-12-14	296,694	$32.69	217,917	No	4	S	Direct

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

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Option (right to buy)	Disposition	2010-12-14	3,306	$0.00	3,306	$30.25
Common Stock	Non-Qualified Stock Option (right to buy)	Disposition	2010-12-14	296,694	$0.00	296,694	$30.25

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		2010-12-15	No	4	M	Direct
0		2010-12-15	No	4	M	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	12,108	Indirect	By Spouse
Common Stock	2,393	Indirect	By 401(k)

Footnotes

Amount reported includes shares subject to unvested Restricted Stock Awards.
Securities sold pursuant to a 10b-5 Plan.
The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.44 to $33.07, inclusive. The reporting person undertakes to provide to Novellus Systems, Inc., any security holder of Novellus Systems, Inc., 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 ranges set forth in this footnote.
The indirect holdings by Mrs. Hill include 2,142 estimated shares held in the Company 401K unitized stock fund. The balance is reported as of the last business day. The remaining shares are held in common stock.
The indirect holdings in the 401K are held in the Company unitized stock fund. The balance is reported as of the last business day.
The grant vested 1 share on December 15, 2001 and 3,305 shares on December 15, 2004.
The grant vested 74,999 shares on December 15, 2001, 75,000 shares on December 15, 2002, 75,000 shares on December 15, 2003 and 71,695 shares on December 15, 2004.