-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 C+dhHUmanXtpM3nQiQnl1dhrQ3oIX+EI9HdrmeFiBoqsMHjJlRwElKGvXzLEvHMm
 AbfwTzwc4GkD2QcXbmPBkQ==

<SEC-DOCUMENT>0001181431-09-028385.txt : 20090602
<SEC-HEADER>0001181431-09-028385.hdr.sgml : 20090602
<ACCEPTANCE-DATETIME>20090602164457
ACCESSION NUMBER:		0001181431-09-028385
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090601
FILED AS OF DATE:		20090602
DATE AS OF CHANGE:		20090602

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Hynes James P
		CENTRAL INDEX KEY:			0001415830

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33778
		FILM NUMBER:		09868816

	MAIL ADDRESS:	
		STREET 1:		NEUTRAL TANDEM, INC.
		STREET 2:		ONE SOUTH WACKER DRIVE, SUITE 200
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60601

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Neutral Tandem Inc
		CENTRAL INDEX KEY:			0001292653
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000

	BUSINESS ADDRESS:	
		STREET 1:		ONE SOUT WACKER DR
		STREET 2:		SUITE 200
		CITY:			CHAICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		312-384-8040

	MAIL ADDRESS:	
		STREET 1:		ONE SOUT WACKER DR
		STREET 2:		SUITE 200
		CITY:			CHAICAGO
		STATE:			IL
		ZIP:			60606
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd244689.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-06-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001292653</issuerCik>
        <issuerName>Neutral Tandem Inc</issuerName>
        <issuerTradingSymbol>TNDM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001415830</rptOwnerCik>
            <rptOwnerName>Hynes James P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O HYNES CAPITAL RESOURCES</rptOwnerStreet1>
            <rptOwnerStreet2>115 MEADOW RD.</rptOwnerStreet2>
            <rptOwnerCity>RIVERSIDE</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06878</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.001 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2009-06-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>100000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>30.84</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>939749</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents the weighted average trading price of the shares sold. The trading range for these shares was $30.75 to $31.15. The reporting person will provide full information regarding the number of shares sold at each separate price upon request by the Securities and Exchange Commission, the issuer or a security holder of the issuer.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Richard L. Monto, as Attorney-In-Fact for James P. Hynes</signatureName>
        <signatureDate>2009-06-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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