SEC FORM 3

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Adzema Kurt

(Last)

(First)

(Middle)

1389 MOFFETT PARK DRIVE

(Street)

SUNNYVALE

94089-1134

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/09/2010

3. Issuer Name and Ticker or Trading Symbol
FINISAR CORP [ FNSR ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	27,817⁽¹⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option (Right to Buy)	12/12/2009⁽²⁾	12/12/2018	Common Stock	25,122	$3.36	D
Stock Option (Right to Buy)	09/01/2010	12/08/2019	Common Stock	12,500⁽³⁾	$8.29	D
Stock Option (Right to Buy)	12/08/2010⁽⁴⁾	12/08/2019	Common Stock	5,258	$8.29	D
Stock Option (Right to Buy)	12/11/2009⁽⁵⁾	09/11/2018	Common Stock	3,750	$10.08	D
Stock Option (Right to Buy)	⁽⁶⁾	04/18/2015	Common Stock	36,562	$10.16	D
Stock Option (Right to Buy)	⁽⁶⁾	11/23/2015	Common Stock	12,499	$14.08	D
Stock Option (Right to Buy)	09/07/2007⁽⁷⁾	09/07/2017	Common Stock	10,000	$21.68	D
Stock Option (Right to Buy)	09/07/2009⁽⁸⁾	09/07/2017	Common Stock	1,500	$21.68	D
Stock Option (Right to Buy)	09/07/2011⁽⁹⁾	09/07/2017	Common Stock	1,000	$21.68	D
Stock Option (Right to Buy)	09/08/2009⁽¹⁰⁾	09/08/2016	Common Stock	8,076	$24.8	D
Stock Option (Right to Buy)	09/08/2010⁽¹¹⁾	09/08/2016	Common Stock	1,298	$24.8	D
Stock Option (Right to Buy)	⁽⁶⁾	03/08/2017	Common Stock	407	$25.68	D
Stock Option (Right to Buy)	03/08/2011⁽⁹⁾	03/08/2017	Common Stock	271	$25.68	D

Explanation of Responses:

1. Includes 2469 ESPP shares purchased December 2009.

2. 50% of the option shares vested and became exercisable on such date with the remaining shares vesting and becoming exercisable at a rate of 6.25% of the option shares quarterly thereafter, with the final vesting to occur December 12, 2011.

3. Each Option shall vest and become exercisable, subject to the Optionee's continued service, with respect to twenty-five percent (25%) of the shares subject to such Option on 09/01/2010 and with respect to an additional six and one-quarter percent (6.25%) of such shares on each of the next twelve (12) quarterly anniversaries of the Initial Vesting Date.

4. Each Option shall vest and become exercisable, subject to the Optionee?s Continued service, with respect to twenty-five percent (25%) of the Shares subject to such option on December 08, 2010 and with respect to six and one-quarter percent (6.25%) of such shares on each of the quarterly anniversaries of that date over the following three (3) years

5. 31% of the option shares vested and became exercisable on such date with the remaining shares vesting and becoming exercisable at a rate of 6.25% of the option shares quarterly thereafter, with the final vesting to occur September 11, 2012.

6. Option shares are vested and exercisable immediately.

7. 40% of the option shares vested and became exercisable on such date with the remaining shares vesting and becoming exercisable at a rate of 20% of the option shares yearly thereafter, with the final vesting to occur September 07, 2012

8. 67% of the option shares vested and became exercisable on such date with the remaining shares vesting and becoming exercisable on September 7, 2010.

9. The option is exercisable when vested. The option vests 50% on such date and 50% on next anniversary of that date.

10. 93% of the option shares vested and became exercisable on such date with the remaining shares vesting and becoming exercisable on September 8, 2010.

11. The option is exercisable when vested. The option vests 100% on 09/08/2010.

Remarks:

	/s/ Kurt Adzema	03/11/2010
	** 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 5 (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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