Daniel J. Moore became President and Chief Executive Officer of Cyberonics on May 1, 2007. During the first 12 months of his tenure, the Company resumed meaningful epilepsy revenue growth and returned to quarterly profitability after multiple years of losses. Under the direction of Mr. Moore and his senior management team, Cyberonics is focused on expanding its Vagus Nerve Stimulation (VNS) Therapy™ franchise for patients suffering from epilepsy.

Mr. Moore joined Cyberonics from Boston Scientific where, since 1989, he held positions in sales, marketing and senior management in the United States and in Europe. In his last position at Boston Scientific, he was President, International Distributor Management. Prior to this, he was President, Inter-Continental, the fourth largest business unit of Boston Scientific with more than 1,000 global employees and revenues exceeding $700 million. Mr. Moore began his career with Procter and Gamble after graduating from Harvard College. He also earned an MBA from Boston University.

Holdings: 292,915 shares     View Transactions

Date	Type	Shares Traded	Price Range
May 7, 2012	Automatic Sell	3,000	38.43
Apr 2, 2012	Automatic Sell	5,000	37.80
Mar 15, 2012	Disposition (Non Open Market)	6,965	n/a
Mar 1, 2012	Automatic Sell	5,000	37.12
Feb 29, 2012	Acquisition (Non Open Market)	6,000	19.39
Feb 29, 2012	Sell	6,000	37.37
Feb 1, 2012	Automatic Sell	5,000	32.40
Jan 3, 2012	Automatic Sell	5,000	34.25
Dec 22, 2011	Disposition (Non Open Market)	586	n/a
Dec 1, 2011	Automatic Sell	5,000	29.36
Nov 1, 2011	Automatic Sell	5,000	27.66
Oct 3, 2011	Automatic Sell	5,000	28.41
Sep 1, 2011	Automatic Sell	5,000	28.04
Aug 1, 2011	Automatic Sell	5,000	27.30
Jul 1, 2011	Automatic Sell	5,000	27.79
Jun 16, 2011	Disposition (Non Open Market)	9,110	n/a
Jun 15, 2011	Acquisition (Non Open Market)	173,395	n/a
Jun 1, 2011	Automatic Sell	5,000	32.66
May 2, 2011	Automatic Sell	5,000	35.26
May 2, 2011	Disposition (Non Open Market)	8,494	n/a
Mar 15, 2011	Acquisition (Non Open Market)	100,000	n/a
Jan 13, 2011	Buy	47,690	14.72 - 19.39
Jan 11, 2011	Sell	44,700	34.83
Nov 29, 2010	Sell	11,104	27.36 - 27.62
Nov 29, 2010	Sell	6,696	27.63 - 28.01
Nov 9, 2010	Disposition (Non Open Market)	11,388	n/a
Jun 16, 2010	Disposition (Non Open Market)	25,000	23.92
Jun 15, 2010	Acquisition (Non Open Market)	23,551	n/a
Jun 8, 2009	Acquisition (Non Open Market)	66,380	n/a
Jun 16, 2008	Acquisition (Non Open Market)	25,000	n/a

Gregory H. Browne joined Cyberonics in July of 2007 as the Vice President, Finance and Chief Financial Officer. Mr. Browne has served as both Chief Executive Officer and Chief Financial Officer for several publicly traded healthcare companies. Most recently, from 2002 to 2006, he was Chief Financial Officer at Amedisys, Inc., a home nursing company with revenues in excess of $600 million, during a period of substantial growth in revenue, profitability and market capitalization. Previously, he had served as Chief Executive Officer for Ramsay Healthcare Inc., a provider of psychiatric services, and Ramsay-HMO, Inc., a health maintenance organization. Immediately prior to joining Cyberonics, Mr. Browne worked with Tatum, LLC, an executive services company, and has also founded and served as President at PeopleWorks, Inc, a human resource outsourcing company.

Holdings: 130,938 shares     View Transactions

Date	Type	Shares Traded	Price Range
May 1, 2012	Automatic Sell	2,500	38.10
Apr 2, 2012	Automatic Sell	2,500	37.80
Mar 1, 2012	Acquisition (Non Open Market)	7,818	14.72 - 19.39
Mar 1, 2012	Sell	7,818	37.25
Mar 1, 2012	Automatic Sell	2,500	37.12
Feb 1, 2012	Automatic Sell	2,500	32.40
Jan 3, 2012	Automatic Sell	2,500	34.25
Dec 21, 2011	Sell	2,500	33.90
Dec 1, 2011	Automatic Sell	2,500	29.36
Nov 1, 2011	Automatic Sell	2,500	27.86
Oct 3, 2011	Automatic Sell	2,500	27.94
Sep 27, 2011	Sell	2,500	27.93
Jul 11, 2011	Disposition (Non Open Market)	1,981	n/a
Jun 16, 2011	Disposition (Non Open Market)	2,282	n/a
Jun 15, 2011	Acquisition (Non Open Market)	47,129	n/a
Jan 10, 2011	Acquisition (Non Open Market)	10,000	14.72 - 19.39
Jan 10, 2011	Sell	10,000	34.84
Dec 7, 2010	Sell	5,000	28.57
Nov 9, 2010	Disposition (Non Open Market)	1,981	n/a
Jul 9, 2010	Disposition (Non Open Market)	1,981	n/a
Jun 16, 2010	Disposition (Non Open Market)	6,000	23.80 - 24.01
Jun 15, 2010	Acquisition (Non Open Market)	8,508	n/a
Jun 8, 2009	Acquisition (Non Open Market)	50,888	n/a
Jun 16, 2008	Acquisition (Non Open Market)	8,638	n/a

David S. Wise joined Cyberonics in September 2003 as Vice President and General Counsel. He was appointed Secretary in November 2003 and assumed responsibility for Human Resources in June 2009. In April 2011, he was appointed Senior Vice President and Chief Administrative Officer, with responsibility for Legal, Human Resources, Information Technology and New Business Development. From 1994 to 2003, he was employed in positions of increasing responsibility at Centerpulse USA, Inc. (formerly Sulzer Medica), a global medical devices company, where he served as Group Vice President and General Counsel. Prior to Centerpulse, he spent 12 years in private practice focused on intellectual property and commercial litigation.

Holdings: 133,402 shares     View Transactions

Date	Type	Shares Traded	Price Range
May 1, 2012	Automatic Sell	2,000	38.10
Apr 2, 2012	Automatic Sell	2,000	37.80
Mar 7, 2012	Acquisition (Non Open Market)	819	28.45
Mar 7, 2012	Sell	819	37.23
Mar 6, 2012	Acquisition (Non Open Market)	500	28.45
Mar 6, 2012	Sell	500	37.50
Mar 5, 2012	Acquisition (Non Open Market)	24,447	28.45
Mar 5, 2012	Sell	24,447	37.50
Mar 1, 2012	Acquisition (Non Open Market)	15,359	28.45
Mar 1, 2012	Sell	15,359	37.50
Feb 29, 2012	Acquisition (Non Open Market)	8,875	28.45
Feb 29, 2012	Sell	8,875	37.50
Feb 28, 2012	Acquisition (Non Open Market)	50,000	28.45
Feb 28, 2012	Sell	50,000	37.61
Feb 8, 2012	Acquisition (Non Open Market)	47,292	28.45
Feb 8, 2012	Automatic Sell	47,292	35.38
Jan 3, 2012	Acquisition (Non Open Market)	2,708	35.00 - 35.07
Jan 3, 2012	Sell	2,708	35.01
Jun 20, 2011	Disposition (Non Open Market)	989	n/a
Jun 16, 2011	Disposition (Non Open Market)	1,873	n/a
Jun 15, 2011	Acquisition (Non Open Market)	46,779	n/a
Jun 16, 2010	Disposition (Non Open Market)	2,000	24.09
Jun 15, 2010	Acquisition (Non Open Market)	8,692	n/a
Jun 18, 2009	Disposition (Non Open Market)	989	n/a
Jun 8, 2009	Acquisition (Non Open Market)	53,191	n/a
Jun 16, 2008	Acquisition (Non Open Market)	7,091	n/a

Darren W. Alch joined Cyberonics in August 2005 as Compliance Officer and Assistant General Counsel. He also assumed the role of Privacy Officer upon joining the Company. He was appointed Assistant Corporate Secretary in December 2010. In April 2011, he was appointed to his current position of Vice President, Corporate Counsel & Compliance Officer and Assistant Secretary with responsibility for all U.S. and worldwide legal functions other than intellectual property. Before joining Cyberonics, he was a shareholder in the health law group of the national law firm of Jenkens & Gilchrist, P.C. Prior to Jenkens & Gilchrist, he worked for pharmaceutical giant, Pfizer, Inc. in a sales and marketing capacity. Mr. Alch is a graduate of the U.S. Military Academy at West Point, and served on active duty in the U.S. Army as a field artillery officer.

Holdings: 18,829 shares     View Transactions

Date	Type	Shares Traded	Price Range
Mar 27, 2012	Acquisition (Non Open Market)	781	24.33
Mar 27, 2012	Sell	781	39.17
Dec 27, 2011	Acquisition (Non Open Market)	2,375	14.72 - 19.39
Dec 27, 2011	Sell	2,375	34.09
Nov 25, 2011	Sell	500	30.11
Sep 26, 2011	Sell	462	25.49
Sep 12, 2011	Disposition (Non Open Market)	163	n/a
Aug 31, 2011	Sell	500	28.23
Jul 15, 2011	Sell	570	30.00
Jun 16, 2011	Disposition (Non Open Market)	262	n/a
Jun 15, 2011	Disposition (Non Open Market)	80	n/a
Jun 15, 2011	Acquisition (Non Open Market)	13,889	n/a
Jun 8, 2011	Disposition (Non Open Market)	263	n/a
Apr 1, 2011	Statement of Ownership	0	n/a

Milton M. Morris, Ph.D. joined Cyberonics as Vice President, Research & Development in January 2009. He joined Cyberonics from InnerPulse Corporation, a privately held cardiology-focused medical technology company in the Research Triangle Park (North Carolina), where he served as Director, Program Management and Operations since November 2007. Prior to InnerPulse, Dr. Morris was employed by Guidant Corporation and its successor, Boston Scientific Corporation. Over a period of 11 years, he held several positions including Senior Research Engineer; Manager, Research & Development; Director, Research & Development; and Director, Marketing. Dr. Morris is named as an inventor on 15 patents and an author on 19 publications, abstracts and scientific presentations.

Holdings: 101,467 shares     View Transactions

Date	Type	Shares Traded	Price Range
Feb 29, 2012	Sell	10,159	37.46
Jan 12, 2012	Disposition (Non Open Market)	4,841	n/a
Jun 15, 2011	Acquisition (Non Open Market)	46,817	n/a
Mar 8, 2011	Sell	17,000	33.21
Jun 15, 2010	Acquisition (Non Open Market)	6,288	n/a
Jun 8, 2009	Acquisition (Non Open Market)	48,362	n/a
Jan 16, 2009	Acquisition (Non Open Market)	15,000	n/a
Jan 12, 2009	Statement of Ownership	0	n/a

Bryan D. Olin, Ph.D. joined Cyberonics as Vice President, Quality in May 2009. In August 2009, Dr. Olin assumed interim responsibility for Clinical Affairs, and in November 2009, he was named Vice President, Clinical Affairs & Quality. He joined Cyberonics from Zeltiq Aesthetics, Inc., a privately held medical technology company in the San Francisco Bay Area, where he served as Sr. Director, Quality Assurance beginning in October 2007. Prior to Zeltiq Aesthetics, Dr. Olin was employed at the LifeScan and Cordis franchises of Johnson & Johnson from 1999 to 2007, holding several positions of increasing responsibility in quality assurance, statistics and clinical data management. Dr. Olin began his career with Procter & Gamble in 1993 after obtaining his Ph.D. in Statistics from Iowa State University.

Holdings: 66,845 shares     View Transactions

Date	Type	Shares Traded	Price Range
Mar 8, 2012	Acquisition (Non Open Market)	1,100	14.72
Mar 8, 2012	Sell	1,100	37.56
Mar 7, 2012	Acquisition (Non Open Market)	13,900	14.72
Mar 7, 2012	Sell	13,900	37.11
Jun 15, 2011	Acquisition (Non Open Market)	45,680	n/a
Jun 15, 2010	Acquisition (Non Open Market)	6,165	n/a
Jun 8, 2009	Acquisition (Non Open Market)	15,000	n/a
May 18, 2009	Statement of Ownership	0	n/a

Sherrie L. Perkins joined Cyberonics in 2000 as Marketing Director for the Vagus Nerve Stimulation (VNS) Therapy® franchise and was responsible for developing the pre-launch and launch strategy for the depression indication, as well as the medical marketing strategy for the epilepsy indication. In 2008, she transitioned to a newly-created role in New Business Development and was named Vice President, Marketing and New Business Development in 2011. Prior to joining Cyberonics, Sherrie held various leadership positions in sales, marketing and business development at Collagen Corp., a medical device company focused in the aesthetic dermatology and plastic surgery markets, and at Syva Company, a medical equipment and diagnostics company focused in the therapeutic drug monitoring market.

Holdings: 20,273 shares     View Transactions

Date	Type	Shares Traded	Price Range
Mar 19, 2012	Acquisition (Non Open Market)	2,333	12.95
Mar 19, 2012	Sell	2,333	39.50
Mar 15, 2012	Acquisition (Non Open Market)	7,000	12.95
Mar 15, 2012	Sell	7,000	39.00
Dec 15, 2011	Acquisition (Non Open Market)	12,115	n/a
Nov 15, 2011	Statement of Ownership	0	n/a

Randal L. Simpson joined Cyberonics in 1998 and has served in various manufacturing management positions until October 2003, when he became Vice President, Operations. Prior to that, he served in the positions of Director, Manufacturing, Director, Materials and Sr. Director of Operations for Cyberonics. Prior to his joining Cyberonics, Mr. Simpson was employed by Intermedics, Inc., as Manager of Manufacturing. Mr. Simpson has more than 20 years of manufacturing experience with more than 14 years of experience in the medical device industry.

Holdings: 54,116 shares     View Transactions

Date	Type	Shares Traded	Price Range
Mar 6, 2012	Acquisition (Non Open Market)	89,000	18.94 - 27.35
Mar 6, 2012	Sell	89,000	37.27
Jun 20, 2011	Disposition (Non Open Market)	725	n/a
Jun 16, 2011	Disposition (Non Open Market)	1,634	n/a
Jun 15, 2011	Acquisition (Non Open Market)	19,881	n/a
Jun 18, 2010	Sell	8,698	23.98 - 23.99
Jun 18, 2010	Disposition (Non Open Market)	725	n/a
Jun 17, 2010	Acquisition (Non Open Market)	35,500	9.96 - 15.70
Jun 17, 2010	Sell	24,802	23.90 - 23.95
Jun 15, 2010	Acquisition (Non Open Market)	5,034	n/a
Jun 1, 2010	Disposition (Non Open Market)	579	n/a
Jun 18, 2009	Disposition (Non Open Market)	725	n/a
Jun 8, 2009	Acquisition (Non Open Market)	8,152	n/a
Jun 1, 2009	Disposition (Non Open Market)	560	n/a
Jun 16, 2008	Acquisition (Non Open Market)	6,189	n/a

Mark Verratti joined Cyberonics in March 2005 and has served in various sales management positions. Mark is currently the Vice President, Sales - The Americas, Asia and EMMEA. He joined Cyberonics to help lead our epilepsy and depression sales forces primarily in the United States. Prior to Cyberonics he held the position of Northeast Area Director for Forest Pharmaceuticals managing over 450 employees and revenues exceeding 500 million. Mark has over 18 years of sales and marketing experience in the pharmaceutical and medical device industry.

Holdings: 53,046 shares     View Transactions

Date	Type	Shares Traded	Price Range
Mar 29, 2012	Sell	2,083	38.25
Dec 15, 2011	Acquisition (Non Open Market)	37,984	n/a
Jun 15, 2011	Acquisition (Non Open Market)	1,944	n/a
Apr 1, 2011	Statement of Ownership	0	n/a