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^*

MUIR WILLIAM D JR

(Last)

(First)

(Middle)

(Street)

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/01/2004

3. Issuer Name and Ticker or Trading Symbol
JABIL CIRCUIT INC [ JBL ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Sr.VP, Regional President-Asia

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	300	I	by Daughter
Common Stock	9,437	I	by Wife in Rev Trust

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)
Employee Stock Option (right to buy)	⁽¹⁾	10/17/2012	Common Stock	64,400	$12.95	D
Employee Stock Option (right to buy)	⁽²⁾	09/21/2011	Common Stock	16,000	$15	D
Employee Stock Option (right to buy)	⁽³⁾	10/02/2009	Common Stock	17,000	$23.0938	D
Employee Stock Option (right to buy)	⁽⁴⁾	10/02/2013	Common Stock	50,000	$26.14	D
Incentive Stock Option (right to buy)	⁽⁵⁾	09/01/2008	Common Stock	18,000	$5.875	D
Non-Qualified Stock Option (right to buy)	⁽⁶⁾	09/21/2011	Common Stock	15,000	$15	D
Non-Qualified Stock Option (right to buy)	⁽⁷⁾	12/22/2010	Common Stock	10,500	$21.375	D
Non-Qualified Stock Option (right to buy)	12/16/2010	12/16/2013	Common Stock	15,000	$26.75	D

Explanation of Responses:

1. Options shall vest at the rate of 12% of the shares upon the expiration of six (6) months after the Vesting Commencement Date (10/17/02) and 2% of the shares at the end of each month thereafter provided that the optionee is an employee of, or consultant (as defined in the relevant stock incentive plan) to, the Company or a subsidiary.

2. Options shall vest at the rate of 12% of the shares upon the expiration of six (6) months after the Vesting Commencement Date (9/21/01) and 2% of the shares at the end of each month thereafter provided that the optionee is an employee of, or consultant to, the Company or a subsidiary.

3. Options shall vest at the rate of 12% of the shares upon the expiration of six (6) months after the Vesting Commencement Date (10/20/99) and 2% of the shares at the end of each month thereafter provided that the optionee is an employee of the Company.

4. Options shall vest at the rate of 12% of the shares six (6) months after the date of grant (which date of grant was 10/02/03) and 2% of the shares on the same calendar day of each successive month thereafter, provided that in all instances the optionee is an employee of, or consultant (as defined in the relevant stock incentive plan) to, the Company or a subsidiary.

5. Option vests at a rate of 12% of the shares six months following the date of the grant (9/1/98) and 2% at the end of each month thereafter, provided that optionee is an employee of the Company.

6. Options vested 100% on December 12, 2003.

7. Options shall vest at the rate of 12% of the shares upon the expiration of six (6) months after the Vesting Commencement Date (12/22/00) and 2% of the shares at the end of each month thereafter provided that the optionee is an employee of the Company.

	Chester E. Bacheller, Attorney-in-Fact	09/10/2004
	** 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 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.