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Filing Details

Accession Number:: 0001179110-11-003060
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2011-02-18 19:55:37
Reporting Period:: 2011-02-16

Filing Date:: 2011-02-18
Accepted Time:: 2011-02-18 19:55:37
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
916085	Health Net Inc	HNT	Hospital & Medical Service Plans (6324)	954288333

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1213932	D Karin Mayhew	21650 Oxnard Street Woodland Hills CA 91367	Svporganization Effectiveness	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2011-02-16	1,260	$22.64	72,368	No	4	M	Direct
Common Stock	Disposition	2011-02-16	100	$31.02	72,268	No	4	S	Direct
Common Stock	Disposition	2011-02-16	300	$31.01	71,968	No	4	S	Direct
Common Stock	Disposition	2011-02-16	860	$31.00	71,108	No	4	S	Direct
Common Stock	Acquisiton	2011-02-18	16,800	$0.00	87,908	No	4	A	Direct

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

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Option (Right to Buy)	Disposition	2011-02-16	1,260	$0.00	1,260	$22.64
Common Stock	Stock Option (Right to Buy)	Acquisiton	2011-02-18	18,000	$0.00	18,000	$30.73

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
40,000	2003-08-12	2012-08-12	No	4	M	Direct
18,000	2012-02-18	2018-02-18	No	4	A	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	1,984	Indirect	By Son

Footnotes

Exercise of a portion of a stock option granted to the Reporting Person on August 12, 2002 under the Issuer's 1997 Stock Option Plan, as amended (the "Grant"), in a transaction exempt under Rule 16b-3 of the Securities Exchange Act of 1934, as amended (the "Act"). The exercise of the Grant was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person in accordance with Rule 10b5-1 of the Act.
Includes shares held by the Karin Mayhew 2006 Revocable Trust, of which the Reporting Person is the sole trustee and beneficiary.
This sale and all of the subsequent sales of Common Stock by the Reporting Person on February 16, 2011, as reported on this Form 4, were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person in accordance with Rule 10b5-1 of the Act.
Reporting Person disclaims beneficial ownership of all such shares held by her son and this report should not be deemed an admission that the Reporting Person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose.
The Grant became exercisable in 25% increments on each of the first, second, third and fourth anniversaries of the grant date of August 12, 2002.
Represents unexercised vested stock options remaining from the August 12, 2002 option grant to the Reporting Person beneficially owned by the Reporting Person.
Includes 7,800 performance shares, which represent the portion of the Reporting Person's February 2009 performance share award attributable to the Issuer's achievement of a target level of pre-tax income in 2010. Vesting of the performance shares is subject to continued employment of the Reporting Person through the date on which the Compensation Committee makes a determination regarding the satisfaction of certain additional criteria, which shall occur as soon as practicable following December 31, 2011 and in any event, no later than the third anniversary of the grant date. Also includes 9,000 restricted stock units ("RSUs") granted to the Reporting Person on February 18, 2011 (the "2011 Grant Date") under the Issuer's 2006 Long-Term Incentive Plan, as amended (the "2006 Plan"), which vest and become non-forfeitable with respect to 33-1/3% of the RSUs on each of the first, second and third anniversaries of the 2011 Grant Date.
Stock option granted to the Reporting Person under the Issuer's 2006 Plan (the "2011 Grant") in a transaction exempt under Rule 16b-3 of the Exchange Act.
The 2011 Grant becomes exercisable with respect to 33-1/3% of the shares underlying the options on each of the first, second and third anniversaries of the 2011 Grant Date.
Represents total number of stock options granted to the Reporting Person on the 2011 Grant Date.