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 *
Byrne Thomas P
  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)
President and COO
(Last)
(First)
(Middle)
C/O LOOPNET, INC., 2100 E. ROUTE, SUITE 200
3. Date of Earliest Transaction (Month/Day/Year)
12/27/2011
(Street)

GLENDORA, CA 91740
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 12/27/2011   M   63,645 A $ 11.06 300,856 D  
Common Stock 12/27/2011   F(1)   50,209 D $ 18.31 250,647 D  
Common Stock 12/27/2011   M   301,874 A $ 12.04 552,521 D  
Common Stock 12/27/2011   F(1)   246,757 D $ 18.31 305,764 D  
Common Stock 12/27/2011   M   112,788 A $ 7.26 418,552 D  
Common Stock 12/27/2011   F(1)   76,495 D $ 18.31 342,057 D  
Common Stock 12/27/2011   M   38,958 A $ 9.97 381,015 D  
Common Stock 12/27/2011   F(1)   29,498 D $ 18.31 351,517 D  
Common Stock 12/27/2011   M   55,000 A $ 16.07 406,517 D  
Common Stock 12/27/2011   F(1)   51,413 D $ 18.31 355,104 D  
Common Stock 12/27/2011   M   17,580 A $ 4.075 372,684 D  
Common Stock 12/27/2011   F(1)   10,293 D $ 18.31 362,391 D  

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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
Stock Option (Right to Buy) $ 11.06 12/27/2011   M     63,645 02/09/2008(2) 01/08/2015 Common Stock 63,645 $ 0 1,355 D  
Stock Option (Right to Buy) $ 12.04 12/27/2011   M     301,874 03/06/2008(2) 02/05/2015 Common Stock 301,874 $ 0 13,126 D  
Stock Option (Right to Buy) $ 7.26 12/27/2011   M     112,788 03/13/2009(2) 02/12/2016 Common Stock 112,788 $ 0 94,792 D  
Stock Option (Right to Buy) $ 9.97 12/27/2011   M     38,958 03/11/2010(2) 02/10/2017 Common Stock 38,958 $ 0 46,042 D  
Stock Option (Right to Buy) $ 16.07 12/27/2011   M     55,000 04/21/2007(2) 03/20/2014 Common Stock 55,000 $ 0 0 D  
Stock Option (Right to Buy) $ 4.075 12/27/2011   M     17,580 08/15/2006(2) 01/19/2016 Common Stock 17,580 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Byrne Thomas P
C/O LOOPNET, INC.
2100 E. ROUTE, SUITE 200
GLENDORA, CA 91740
      President and COO  

Signatures

 /s/ Maria T. Valles, as Attorney-in-Fact   12/29/2011
**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) Shares withheld by the Issuer in payment of the aggregate option exercise price and withholding tax liability incurred upon the above-reported exercise of options. The amount of shares withheld is based on the closing price on December 23, 2011.
(2) The option vests at a rate of 1/48th per month beginning on the Date Exercisable.

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