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Filing Details

Accession Number:: 0001179110-11-003142
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2011-02-22 18:34:37
Reporting Period:: 2011-02-17

Filing Date:: 2011-02-22
Accepted Time:: 2011-02-22 18:34:37
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
1478940	F. Angelee Bouchard	21650 Oxnard Street Woodland Hills CA 91367	Svp, General Counsel,Secretar	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	Disposition	2011-02-17	523	$30.88	25,232	No	4	F	Direct
Common Stock	Acquisiton	2011-02-18	18,000	$0.00	43,232	No	4	A	Direct
Common Stock	Disposition	2011-02-22	15	$31.54	43,217	No	4	S	Direct
Common Stock	Disposition	2011-02-22	15	$31.45	43,202	No	4	S	Direct
Common Stock	Disposition	2011-02-22	15	$31.44	43,187	No	4	S	Direct
Common Stock	Disposition	2011-02-22	16	$31.31	43,171	No	4	S	Direct
Common Stock	Disposition	2011-02-22	15	$31.30	43,156	No	4	S	Direct
Common Stock	Disposition	2011-02-22	15	$31.26	43,141	No	4	S	Direct
Common Stock	Disposition	2011-02-22	15	$31.14	43,126	No	4	S	Direct
Common Stock	Disposition	2011-02-22	15	$31.06	43,111	No	4	S	Direct
Common Stock	Disposition	2011-02-22	15	$31.05	43,096	No	4	S	Direct
Common Stock	Disposition	2011-02-22	15	$31.02	43,081	No	4	S	Direct
Common Stock	Disposition	2011-02-22	15	$31.00	43,066	No	4	S	Direct
Common Stock	Disposition	2011-02-22	16	$30.54	43,050	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	F	Direct
No	4	A	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	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)	Acquisiton	2011-02-18	36,000	$0.00	36,000	$30.73

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
36,000	2012-02-18	2018-02-18	No	4	A	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	4,569	Indirect	By Trust

Footnotes

Shares forfeited in lieu of payment of tax liability in connection with the vesting of twenty five percent of a grant of 5,000 restricted stock units made to the Reporting Person on February 17, 2009 (the "2009 Grant") pursuant to the Issuer's 2006 Long-Term Incentive Plan, as amended (the "2006 Plan").
The number of shares forfeited by the Reporting Person was based on the closing price of the Issuer's common stock on February 17, 2011, the vesting date of a portion of the 2009 Grant.
Represents 18,000 restricted stock units ("RSUs") granted to the Reporting Person on February 18, 2011 (the "2011 Grant Date") under the Issuer's 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 in a transaction exempt under Rule 16b-3 of the Securities Exchange Act of 1934, as amended (the "Act").
This stock option 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.
The shares are held by the Bouchard Family Revocable Trust, of which the Reporting Person is a trustee and beneficiary.
This sale and all of the subsequent sales of Common Stock by the Reporting Person on February 22, 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.