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* McGeever James (Last) (First) (Middle) C/O NETSUITE INC. 2955 CAMPUS DRIVE, SUITE 100 (Street) SAN MATEO CA 94403 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 12/19/2007	3. Issuer Name and Ticker or Trading Symbol NETSUITE INC [ N ]
		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	298,873	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)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	(1)	02/26/2013	Common Stock	2,531	$0.6	D
Employee Stock Option (right to buy)	(2)	12/30/2015	Common Stock	67,500	$5	D
Employee Stock Option (right to buy)	(3)	06/28/2017	Common Stock	50,000	$12.4	D
Employee Stock Option (right to buy)	(4)	12/12/2017	Common Stock	37,500	$14.5	D

Explanation of Responses:

1. The option is subject to an early exercise provision and is immediately exercisable. An option to purchase 40,500 shares was granted on February 26, 2003 and was exercised in part prior to the date on which the Reporting Person became subject to Section 16. One forty-eighth of the shares subject to the option vested on February 22, 2003 and one forty-eighth of the shares vested monthly thereafter.

2. The option is subject to an early exercise provision and is immediately exercisable. One ninety-sixth of the shares subject to the option vested on January 30, 2006 and one ninety-sixth of the shares shall vest monthly thereafter.

3. The option was fully vested on June 28, 2007, the grant date.

4. The option is subject to an early exercise provision and is immediately exercisable. One thirty-sixth of the shares subject to the option vest on January 12, 2009 and one thirty-sixth of the shares shall vest monthly thereafter.

	/s/ DOUGLAS P. SOLOMON, by power of attorney	12/19/2007
	** 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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