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 *
Siegel Philip S
  2. Issuer Name and Ticker or Trading Symbol
HOMEAWAY INC [AWAY]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
300 WEST 6TH ST., SUITE 2300, 
3. Date of Earliest Transaction (Month/Day/Year)
05/16/2012
(Street)

AUSTIN, TX 78701
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ 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 05/16/2012   S(1)   25,000 D $ 26.3291 225,000 D  
Common Stock               847,556 I By Austin Ventures X, L.P. (2)

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
Siegel Philip S
300 WEST 6TH ST., SUITE 2300
AUSTIN, TX 78701
  X   X    
AUSTIN VENTURES X LP
300 WEST 6TH ST., SUITE 2300
AUSTIN, TX 78701
    X    
AV Partners X, L.P.
300 WEST 6TH ST., SUITE 2300
AUSTIN, TX 78701
    X    
AV Partners X, L.L.C.
300 WEST 6TH ST., SUITE 2300
AUSTIN, TX 78701
    X    
ARAGONA JOSEPH C
300 WEST 6TH ST.,
SUITE 2300
AUSTIN, TX 78701
    X    
DEANGELIS KENNETH P
300 WEST 6TH ST., SUITE 2300
AUSTIN, TX 78701
    X    
THORNTON JOHN D
300 WEST 6TH ST., SUITE 2300
AUSTIN, TX 78701
    X    
PACITTI CHRISTOPHER A
300 WEST 6TH ST., SUITE 2300
AUSTIN, TX 78701
    X    

Signatures

 /s/ Philip S. Siegel   05/18/2012
**Signature of Reporting Person Date

 /s/ Austin Ventures X, L.P. by Christopher A. Pacitti   05/18/2012
**Signature of Reporting Person Date

 /s/ AV Partners X, L.P. by Christopher A. Pacitti   05/18/2012
**Signature of Reporting Person Date

 /s/ AV Partners X, L.L.C. by Christopher A. Pacitti   05/18/2012
**Signature of Reporting Person Date

 /s/ Joseph C. Aragona   05/18/2012
**Signature of Reporting Person Date

 /s/ Kenneth P. DeAngelis   05/18/2012
**Signature of Reporting Person Date

 /s/ John D. Thornton   05/18/2012
**Signature of Reporting Person Date

 /s/ Christopher A. Pacitti   05/18/2012
**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) Transaction pursuant to a 10b5-1 Trading Plan adopted by the Reporting Person in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
(2) Shares held directly by Austin Ventures X, L.P. ("AV X"). AV Partners X, L.P. ("AVP X LP"), the general partner of AV X, and AV Partners X, L.L.C. ("AVP X LLC"), the general partner of AVP X LP, may be deemed to have sole voting and dispositive power over the shares held by AV X. Joseph C. Aragona, Kenneth P. DeAngelis, John D. Thornton, Christopher A. Pacitti and Philip S. Siegel are members of AVP X LLC and may be deemed to share voting and dispositive power over the shares held by AV X. Such persons and entities disclaim beneficial ownership of the shares held by AV X except to the extent of their pecuniary interest therein.
 
Remarks:
Philip S. Siegel is a director of the issuer.  Joseph C. Aragona, Kenneth P. DeAngelis, John D. Thornton, Christopher A. Pacitti and Philip S. Siegel are members of AV Partners X, L.L.C. which serves as the general partner of AV Partners X, L.P., the general partner of Austin Ventures X, L.P.  Each Reporting Owner disclaims the existence of a "group" and disclaims beneficial ownership of any securities (except to the extent of such Reporting Owner's pecuniary interest in such securities) other than any securities reported herein as being directly owned by such Reporting Owner, and this report shall not be deemed an admission that such Reporting Owner is the beneficial owner of any securities for purposes of Section 16 or for any other purpose.

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