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^*

ROWLAND LANDON H

(Last)

(First)

(Middle)

920 MAIN STREET, SUITE 204

(Street)

KANSAS CITY,

64105

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
JANUS CAPITAL GROUP INC [ JNS ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2005

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	12/15/2005		S⁽¹⁾		2,400	D	$18.89	456,500	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		3,600	D	$18.9	452,900	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		1,400	D	$18.94	451,500	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		2,500	D	$18.95	449,000	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		5,100	D	$18.96	443,900	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		1,400	D	$18.97	442,500	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		2,400	D	$18.98	440,100	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		5,400	D	$18.99	434,700	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		2,000	D	$19	432,700	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		2,700	D	$19.02	430,000	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		1,700	D	$19.05	428,300	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		300	D	$19.06	428,000	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		1,000	D	$19.09	427,000	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		2,000	D	$19.1	425,000	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		2,200	D	$19.13	422,800	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		1,100	D	$19.15	421,700	I	By Preservation Farms I, LLLP
Common Stock	12/15/2005		S⁽¹⁾		1,700	D	$19.2	420,000	I	By Preservation Farms I, LLLP
Common Stock								1,045,268	D
Common Stock								6,613⁽²⁾	D
Common Stock								100,000	I	By Landon Rowland Revocable Trust
Common Stock								6,959	I	By Sarah Rowland Revocable Trust
Common Stock								2,010	I	By Wife

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)
Option (Right to Buy) and LSAR⁽³⁾	$8.02							07/13/2000	11/13/2006	Common Stock	612,000⁽⁴⁾		612,000	D
Option (Right to Buy) and LSAR⁽³⁾	$13.76							07/13/2000	12/07/2008	Common Stock	12,276⁽⁴⁾		12,276	D
Option (Right to Buy) and LSAR⁽³⁾	$39.77							07/13/2000	02/28/2010	Common Stock	4,648⁽⁴⁾		4,648	D
Option (Right to Buy) and LSAR⁽³⁾	$34.28							01/01/2003	05/04/2010	Common Stock	443,957⁽⁴⁾		443,957	D
Option (Right to Buy) and LSAR⁽³⁾	$34.28							05/05/2001	05/04/2010	Common Stock	33,245⁽⁴⁾		33,245	D
Option (Right to Buy) and LSAR⁽³⁾	$42.34							01/29/2001	01/28/2011	Common Stock	4,335		4,335	D
Option (Right to Buy) and LSAR⁽³⁾	$25.71							01/28/2002	01/27/2012	Common Stock	6,866		6,866	D
Option (Right to Buy) and LSAR⁽³⁾	⁽⁵⁾							01/01/2003	07/17/2012	Common Stock	212,000		212,000	D
Option (Right to Buy) and LSAR⁽³⁾	$13.15							12/11/2002	12/10/2012	Common Stock	13,106		13,106	D

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person in June 2005, as amended in September 2005.

2. Restricted stock units are payable in common stock upon the reporting person's termination of service as a director. Each restricted stock unit represents one share of common stock upon distribution.

3. Subject to compliance with Section 409A of the Internal Revenue Code, Limited Stock Appreciation Rights ("LSAR") are granted in tandem with stock options. LSARs are automatically exercisable (in lieu of related options) upon a change-of-control of the issuer which has not been approved by certain members of the issuer's board of directors and result in the receipt of only cash by the option holder. LSARs terminate when the related options are exercised or terminated.

4. Substitute options awarded in connection with the spin-off of Janus Capital Group Inc. (formerly Stilwell Financial Inc.) from Kansas City Southern Industries, Inc.

5. Exercise price is $19.36 for 56,000 options, $21.59 for 56,000 options, $17.12 for 56,000 options and $14.89 for 44,000 options.

Remarks:

	Wanette N. Pauly, Attorney-in-Fact for Landon H. Rowland	12/16/2005
	** 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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