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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1032761	Keynote Systems Inc	KEYN	Services-Business Services, Nec (7389)	943226488

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1412570	Anshu Agarwal	777 Mariners Island Blvd San Mateo CA 94404	Vice President Of Marketing	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	Explanation
Common Stock	Acquisiton	2011-01-31	1,417	$7.79	1,417	No	4	A	Direct
Common Stock	Disposition	2011-02-18	1,417	$19.50	0	No	4	S	Direct

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

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Employee Stock Option (Right to Purchase)	$11.00	2007-04-04	2016-04-04	30,000	30,000	Direct
Common Stock	Employee Stock Option (Right to Purchase)	$10.84	2008-01-25	2017-01-25	20,000	20,000	Direct
Common Stock	Employee Stock Option (Right to Purchase)	$13.82	2009-05-01	2018-05-01	30,000	28,000	Direct
Common Stock	Restricted Stock Units	$0.00			12,500	12,500	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2016-04-04	30,000	30,000	Direct
2017-01-25	20,000	20,000	Direct
2018-05-01	30,000	28,000	Direct
	12,500	12,500	Direct

Footnotes

Shares were purchased through a qualified employee stock purchase plan, and therefore exempt pursuant to Rule 16b-3.
Option is fully vested as of the filing of this Form 4.
7,500 shares vested 5/1/2009. 1/48 of total granted will be vested each month after 5/1/2009.
Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.
The restricted stock units will fully vest three years from the date of grant of 07/01/2009.