April 11, 2011: The Storm acquired a second-round pick in the 2012 Draft from the Indiana Fever as part of the Katie Smith trade. In addition, the Storm traded a third-round pick to Indiana and a first-round pick to the Washington Mystics.
January 2: The Storm acquired the second overall pick in the 2012 Draft from the Chicago Sky as part of the Swin Cash trade. The storm sent the 23rd overall pick to Chicago.
January 31: The Storm re-signed Allie Quigley.
February 6: The Storm signed Ann Wauters.
February 9: The Storm re-signed Sue Bird and Tanisha Wright.
February 14: The Storm traded Ashley Robinson to the Washington Mystics in exchange for Victoria Dunlap.
February 15: The Storm re-signed Ewelina Kobryn and Katie Smith.
February 27: The Seattle Storm signed Tina Thompson.
March 9: The Storm signed Rachel Allison and Alysha Clark.
April 6: The Storm signed Silvia Dominguez.
April 12: The Storm signed Lindsay Taylor.
April 26: The Storm signed Jacqua Williams, Ashley Corral, Dellena Criner, Ashley Gayle, and draft pick Shekinna Stricklen.
May 1: The Storm waived Rachel Allison, Dellena Criner, and Jacqua Williams.
May 14: The Storm waived Ashley Gayle and Lindsay Taylor.
May 16: The Storm waived Ashley Corral and Allie Quigley.