Ownership Submission
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

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
Greenman Jason D
  2. Issuer Name and Ticker or Trading Symbol
LoopNet, Inc. [LOOP]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Strategy Officer and SVP
(Last)
(First)
(Middle)
C/O LOOPNET, INC., 181 W. HUNTINGTON DRIVE, SUITE 208
3. Date of Earliest Transaction (Month/Day/Year)
02/14/2011
(Street)

MONROVIA, CA 91016
4. If Amendment, Date Original Filed(Month/Day/Year)
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 (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 02/14/2011   F   2,293 (1) D $ 11.71 375,881 D  
Common Stock 02/14/2011   F   2,293 (2) D $ 11.71 373,588 D  
Common Stock 02/15/2011   S(3)   6,300 D $ 11.81 367,288 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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
(Month/Day/Year)
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

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Greenman Jason D
C/O LOOPNET, INC.
181 W. HUNTINGTON DRIVE, SUITE 208
MONROVIA, CA 91016
      Chief Strategy Officer and SVP  

Signatures

 /s/ Maria T. Valles, as Attorney-in-Fact   02/15/2011
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) On February 11, 2010, the Reporting Person acquired 25,000 restricted stock units of the Issuer. On February 11, 2011, 1/4th of the total restricted stock units, or 6,250 restricted stock units, vested. 2,293 restricted stock units were withheld by the Issuer in payment of the withholding tax liability incurred upon the vesting of the 6,250 restricted stock units. The amount of restricted stock units withheld is based on the closing price of February 11, 2011.
(2) On February 13, 2009, the Reporting Person acquired 25,000 restricted stock units of the Issuer. On February 13, 2011, 1/4th of the total restricted stock units, or 6,250 restricted stock units, vested. 2,293 restricted stock units were withheld by the Issuer in payment of the withholding tax liability incurred upon the vesting of the 6,250 restricted stock units. The amount of restricted stock units withheld is based on the closing price of February 11, 2011.
(3) The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person when not in possession of material non-public information.

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