Sec Form 4 Filing - THOMPSON KEVIN B @ SolarWinds, Inc. - 2012-01-04

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 Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person THOMPSON KEVIN B 2. Issuer Name and Ticker or Trading Symbol SolarWinds, Inc. [ SWI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Director, President & CEO (Last) (First) (Middle) C/O SOLARWINDS, INC., 3711 S. MOPAC EXPY., BLDG. TWO 3. Date of Earliest Transaction (MM/DD/YY) 01/04/2012 (Street) AUSTIN, TX78746 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction 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 01/04/2012 M 80,000 A $ 2.6867 203,416 D Common Stock 01/04/2012 S 38,300 ( 1 ) D $ 27.6802 ( 2 ) 165,116 D Common Stock 01/04/2012 S 1,700 ( 1 ) D $ 28.3229 ( 3 ) 163,416 D Common Stock 01/04/2012 A 79,598 ( 4 ) A $ 0 243,014 D Common Stock 01/04/2012 F 3,676 ( 5 ) D $ 28.03 239,338 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 Employee Stock Option (right to buy) $ 2.6867 01/04/2012 M 40,000 ( 6 ) 07/26/2016 Common Stock 40,000 $ 0 72,872 D Employee Stock Option (right to buy) $ 2.6867 01/04/2012 M 40,000 ( 7 ) 07/26/2016 Common Stock 40,000 $ 0 74,009 D Employee Stock Option (right to buy) $ 28.03 01/04/2012 A 179,160 ( 8 ) 01/04/2022 Common Stock 179,160 $ 0 179,160 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other THOMPSON KEVIN B C/O SOLARWINDS, INC. 3711 S. MOPAC EXPY., BLDG. TWO AUSTIN, TX78746 X Director, President & CEO Signatures /s/ Bryan A. Sims, Attorney-In-Fact 01/05/2012 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Shares sold pursuant to a 10b5-1 Trading Plan. ( 2 )This transaction was executed in multiple trades at prices ranging from $27.25 to $28.23, inclusive. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold and each separate price within the ranges set forth in footnotes (2) and (3) of this form. ( 3 )This transaction was executed in multiple trades at prices ranging from $28.25 to $28.35, inclusive. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold and each separate price within the ranges set forth in footnotes (2) and (3) of this form. ( 4 )Represents the grant of restricted stock units that will entitle the reporting person to receive one share of issuer's common stock per restricted stock unit. The restricted stock units vest in five equal annual installments beginning January 4, 2013. In the event of the termination of the reporting person as a service provider, the reporting person's right to acquire the balance of the restricted stock units that have not vested as of the time of termination as a service provider shall immediately terminate. ( 5 )Represents the number of shares withheld to satisfy the reporting person's tax obligations in connection with the vesting of restricted stock units. ( 6 )1/4th of the shares vested and became exercisable on July 1, 2007 and 1/48th of the shares vested each month thereafter. ( 7 )1/4th of the shares vested and became exercisable on July 1, 2007 and 1/48th of the shares vested each month thereafter. Grant was subject to a right of early exercise prior to vesting and a right of repurchase that lapses in accordance with the vesting schedule. ( 8 )1/60th of the shares shall vest and become exercisable on February 4, 2012 and each month thereafter.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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