SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

TAN LIP BU

(Last)

(First)

(Middle)

WALDEN INTERNATIONAL

ONE CALIFORNIA ST., SUITE 2800

(Street)

SAN FRANCISCO

94111

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
LEADIS TECHNOLOGY INC [ LDIS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
05/25/2005

4. If Amendment, Date of 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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/25/2005		J⁽¹⁾		1,000	A	$0.00	37,406	I	By Trust⁽²⁾
Common Stock								3,000	I	By Son
Common Stock								3,000	I	By Son
Common Stock								2,880,199	I	By Pacven Walden Ventures V L.P.⁽³⁾
Common Stock								66,374	I	By Pacven Walden Ventures Parallel V-A C.V.⁽³⁾
Common Stock								66,374	I	By Pacven Walden Ventures Parallel V-B C.V.⁽³⁾
Common Stock								7,062	I	By Pacven Walden Ventures V Associates Fund, L.P.⁽³⁾
Common Stock								46,432	I	By Pacven Walden Ventures V-Q Associates Fund, L.P.⁽³⁾

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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$6.24	05/25/2005		A		10,000		⁽⁴⁾	05/24/2011	Common Stock	10,000	$000	10,000	D

Explanation of Responses:

1. US Ventures Partners VIII, L.P. (the "Partnership"), a shareholder of Leadis Technology, Inc., effected a distribuiton of 1,000,000 shares of Leadis Common Stock (acquired on August 19, 2002) to its limited partners on a pro-rata basis on May 25, 2005. Lip-Bu Tan and Ysa Loo Trust, of which the Reporting Person is one of the trustees, is one of the limited partners of the Partnership and received 1,000 shares of Leadis Common Stock from the distribution.

2. Lip-Bu Tan & Ysa Loo Trust, of which the Reporting Person is one of the trustees. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

3. Pacven Walden Management V., Co., Ltd. ("Pacven V") is the general partner of such shareholder and Pacven Walden Management Co., Ltd. ("Pacven") is the sole voting shareholder of Pacven V. The Reporting Person is the sole director of Pacven V and a member of the Investment Committee of Pacven. The Reporting Person disclaims beneficial ownership of each shares except to the extent of his pecuniary interest therein.

4. Granted under the Issuer's 2004 Non-Employee Director Stock Option Plan. The option shall vest in equal monthly installments over 12 months from May 25, 2005.

	/s/ Lip-Bu Tan	05/27/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
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