FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Kearny Ryan C. 		2. Issuer Name and Ticker or Trading Symbol

F5 NETWORKS INC [ FFIV ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
CTO& EVP, Product & Technology
(Last)          (First)          (Middle)

C/O F5 NETWORKS, INC., 401 ELLIOTT AVE. W. 		3. Date of Earliest Transaction (MM/DD/YYYY)

2/1/2018
(Street)

SEATTLE, WA 98119
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   2/1/2018     M    9051   (1) A $0.00   10945   D    
Common Stock   2/1/2018     S    2900   D $144.2455   (2) 8045   D    
Common Stock   2/1/2018     S    4518   D $145.2179   (3) 3527   D    
Common Stock   2/1/2018     S    100   D $145.77   (4) 3427   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Unit   (5) $0.00   2/1/2018     M         8321      (6)   (7) Common Stock   8321   $0.00   0   D    
Restricted Stock Unit   (5) $0.00   2/1/2018     M         342      (8)   (7) Common Stock   342   $0.00   3765   D    
Restricted Stock Unit   (5) $0.00   2/1/2018     M         388      (9)   (7) Common Stock   388   $0.00   5831   D    

Explanation of Responses:
(1)  Shares acquired upon vesting of the December 10, 2014, November 1, 2016 and November 1, 2017 awards of service-based Restricted Stock Units.
(2)  This transaction was executed pursuant to a Rule 10b5-1 trading plan, in multiple trades at prices ranging from $143.66 to $144.65. The reported price is the weighted average sale price. The reporting person undertakes to provide to the Company, any security holder of the Company, or Securities and Exchange Commission staff, upon request, complete information regarding the number of shares sold at each separate price.
(3)  This transaction was executed pursuant to a Rule 10b5-1 trading plan, in multiple trades at prices ranging from $144.69 to $145.66. The reported price is the weighted average sale price. The reporting person undertakes to provide to the Company, any security holder of the Company, or Securities and Exchange Commission staff, upon request, complete information regarding the number of shares sold at each separate price.
(4)  This transaction was executed pursuant to a Rule 10b5-1 trading plan.
(5)  Each Restricted Stock Unit represents a contingent right to receive one share of F5 Networks, Inc. Common Stock on the vest date.
(6)  This December 10, 2014 award of service-based Restricted Stock Units vests in full on February 1, 2018.
(7)  If the reporting person continues to provide services to the Company through the vest date, the corresponding number of shares of Common Stock of F5 Networks, Inc. will be issued to the reporting person on the vest date
(8)  This November 1, 2016 award of service-based Restricted Stock Units vests in sixteen equal quarterly increments beginning February 1, 2017.
(9)  The November 1, 2017 award of service-based Restricted Stock Units vests in sixteen equal quarterly increments beginning February 1, 2018.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Kearny Ryan C.
C/O F5 NETWORKS, INC.
401 ELLIOTT AVE. W.
SEATTLE, WA 98119

CTO& EVP, Product & Technology

Signatures
/s/ Greg Davis by Power of Attorney 2/5/2018
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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