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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): May 13, 2009</B>

<P style="font-size: 24pt" align="center"><B>CRAY INC.<BR>
</B><FONT
style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Washington</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>0-26820</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>93-0962605</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

</TABLE>
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cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="49%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="49%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>901 Fifth Avenue, Suite
1000<BR>
Seattle, WA <BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>98164</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(206) 701-2000</B>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="30%" border="0">

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  <TD width="100%">&nbsp;</TD>
 </TR>
 <TR>
  <TD style="border-bottom: #000000 1px solid" nowrap><B>None<BR>
</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P style="display: none; font-size: 10pt" align="center">1
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<P style="font-size: 10pt" align="left"><B>Item&nbsp;8.01 Other Information</B>

<P style="font-size: 10pt; text-indent: 4%" align="left">On May&nbsp;13, 2009,
at our Annual Meeting of Shareholders, the shareholders: re-elected each of our
current directors for one-year terms expiring at the 2010 Annual Meeting of
Shareholders and upon the election and qualification of their successors,
approved the 2009 Long-Term Equity Compensation Plan covering
3,000,000 shares of our common stock (of which no more than 1,500,000 shares
can be authorized as grants of restricted stock and stock bonuses), and
ratified the appointment of Peterson Sullivan LLP as our independent auditors.

<P style="font-size: 10pt; text-indent: 4%" align="left">On May&nbsp;18, 2009,
we repurchased an additional $14,294,000 in principal amount of our 3.0%
Convertible Senior Subordinated Notes due 2024 (the &#8220;Notes&#8221;) at a
price equal to 98.5% of par value plus accrued interest. The holders of the
Notes have the right to put the Notes to us on December&nbsp;1, 2009. Following
this repurchase, we have an aggregate principal amount of $13,433,000 of Notes
outstanding.

<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt" align="left"><BR>
Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant caused this report to be
signed on its behalf by the undersigned thereunto duly authorized.

<P style="font-size: 10pt" align="left">May&nbsp;19, 2009
<DIV align="center">
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 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD valign="top" align="left" colspan="2">Cray Inc.</TD>
 </TR>

<TR><TD>&nbsp;</TD></TR>

 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD valign="top">By: </TD>
  <TD valign="top" align="left" style="border-bottom: 1px solid #000000">/s/&nbsp;Kenneth W. Johnson</TD>
 </TR>
 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Kenneth W. Johnson<BR>
Senior Vice President and General Counsel</TD>
 </TR>
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</TABLE>
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<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
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{"company-data": {"conformed-name": "CRAY INC", "cik": "0000949158", "assigned-sic": "3571", "irs-number": "930962605", "state-of-incorporation": "WA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-26820", "film-number": "09838307"}, "business-address": {"street1": "901 FIFTH AVENUE", "street2": "SUITE 1000", "city": "SEATTLE", "state": "WA", "zip": "98104-2860", "phone": "2067012000"}, "mail-address": {"street1": "901 FIFTH AVENUE", "street2": "SUITE 1000", "city": "SEATTLE", "state": "WA", "zip": "98104-2860"}, "former-company": {"former-conformed-name": "TERA COMPUTER CO \\WA\\", "date-changed": "19950809"}}
8-K
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): May 13, 2009
CRAY INC.
(Exact name of registrant as specified in its charter)
Washington
0-26820
93-0962605
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
901 Fifth Avenue, Suite
1000
Seattle, WA
98164
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(206) 701-2000
None
(Former name or former address if changed since last report.)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Information
On May 13, 2009,
at our Annual Meeting of Shareholders, the shareholders: re-elected each of our
current directors for one-year terms expiring at the 2010 Annual Meeting of
Shareholders and upon the election and qualification of their successors,
approved the 2009 Long-Term Equity Compensation Plan covering
3,000,000 shares of our common stock (of which no more than 1,500,000 shares
can be authorized as grants of restricted stock and stock bonuses), and
ratified the appointment of Peterson Sullivan LLP as our independent auditors.
On May 18, 2009,
we repurchased an additional $14,294,000 in principal amount of our 3.0%
Convertible Senior Subordinated Notes due 2024 (the "Notes") at a
price equal to 98.5% of par value plus accrued interest. The holders of the
Notes have the right to put the Notes to us on December 1, 2009. Following
this repurchase, we have an aggregate principal amount of $13,433,000 of Notes
outstanding.
SIGNATURES
Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant caused this report to be
signed on its behalf by the undersigned thereunto duly authorized.
May 19, 2009
Cray Inc.
By:
/s/ Kenneth W. Johnson
Kenneth W. Johnson
Senior Vice President and General Counsel