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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
X	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* INSTITUTIONAL VENTURE PARTNERS VI (Last) (First) (Middle) 3000 SAND HILL RD BLDG 2, SUITE 290 (Street) MENLO PARK CA 94025 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol ARGONAUT TECHNOLOGIES INC [ agnt ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 01/13/2004
	4. If Amendment, Date of 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

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	01/13/2004		J		2,460,020(1)	D	$2.42	0	D
Common Stock	01/13/2004		J		50,646(2)	D	$2.42	0	D(3)
Common Stock	01/13/2004		J		12,020	A	$2.42	12,020	D(4)
Common Stock	01/13/2004		J		10,876	A	$2.42	10,876	D(5)
Common Stock	01/13/2004		J		10,447	A	$2.42	10,447	D(6)
Common Stock	01/13/2004		J		7,855	A	$2.42	7,855	D(7)
Common Stock	01/13/2004		J		5,432	A	$2.42	6,234	D(8)
Common Stock	01/13/2004		J		2,140	A	$2.42	2,140	D(9)
Common Stock	01/13/2004		J		2,995	A	$2.42	2,995	D(10)
Common Stock	01/13/2004		J		7,317	A	$2.42	7,517	D(11)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* INSTITUTIONAL VENTURE PARTNERS VI (Last) (First) (Middle) 3000 SAND HILL RD BLDG 2, SUITE 290 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* COLELLA SAMUEL D (Last) (First) (Middle) 3000 SAND HILL ROAD, 4-210 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) affiliate of 10% owner (SDC)

1. Name and Address of Reporting Person* DENNIS REID W (Last) (First) (Middle) INSTITUTIONAL VENTURE PARTNERS 3000 SAND HILL RD BLDG 2 STE 290 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) affiliate of 10% owner (RWD)

1. Name and Address of Reporting Person* ELMORE MARY JANE (Last) (First) (Middle) 3000 SAND HILL ROAD, 2-290 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) affiliate of 10% owner (MJE)

1. Name and Address of Reporting Person* FOGELSONG NORMAN A (Last) (First) (Middle) C/O IVP 3000 SAND HILL ROAD, 2-290 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) affiliate of 10% owner (NAF)

1. Name and Address of Reporting Person* QUINDLEN RUTHANN (Last) (First) (Middle) 3000 SAND HILL ROAD, 2-290 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) affiliate of 10% owner (RAQ)

1. Name and Address of Reporting Person* STRAND L JAMES (Last) (First) (Middle) (Street) (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) affiliate of 10% owner (LJS)

1. Name and Address of Reporting Person* THOMAS T PETER (Last) (First) (Middle) 3000 SAND HILL ROAD, 2-290 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) affiliate of 10% owner (TPT)

1. Name and Address of Reporting Person* YANG GEOFFREY Y (Last) (First) (Middle) 3000 SAND HILL ROAD, 2-290 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) affiliate of 10% owner (GYY)

Explanation of Responses:

1. IVP distributed 2,460,020 shares to its partners on 1/11/04. IVM received 24,600 shares. IVM then distributed 75,246 to its partners on the same date. Both distributions were done on a pro-rata basis without the payment of additional consideration. Each reporting person received shares in the distribution.

2. Shares owned by IVM prior to the distribution.

3. Indirect ownership for the reporting persons includes shares held/disposed by Institutional Venture Partners VI, L.P. ("IVP"), IVP Founders Fund I, L.P. ("FFI") and Institutional Venture Management VI, L.P. ("IVM"), the general partner of IVP and FFI. Each reporting person is a general partner of IVM and disclaims beneficial ownership except to the extent of his/her pecuniary interest therein.

4. Shares received in distribution by Samuel D. Colella and family partnership.

5. Shares received in distribution by Reid W. Dennis.

6. Shares received in distribution by Mary Jane Elmore.

7. Shares received in distribution by Norman A. Fogelsong.

8. Shares received in distribution by Ruthann Quindlen.

9. Shares received in distribution by L. James Strand.

10. Shares received in distribution by T. Peter Thomas.

11. Shares received in distribution by Geoffrey Y. Yang.

	Nancy E. McCroskey, authorized signer	01/13/2004
	** 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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