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^*

LAVITT MEL S

(Last)

(First)

(Middle)

(Street)

(City)

(State)

(Zip)

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

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)
06/24/2003

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)

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)
Prepaid Variable Forward Contract (right to sell)⁽¹⁾	0	06/24/2003		J⁽²⁾			1	09/24/2003	09/24/2003	Common Stock	208,000	$0⁽³⁾	0	D
Prepaid Variable Forward Contract (right to sell)⁽⁴⁾	0	06/24/2003		J⁽²⁾		1		09/24/2003	01/24/2005	Common Stock	208,000	$0⁽³⁾	1	D
Prepaid Variable Forward Contract (right to sell)⁽⁵⁾	0	06/24/2003		J⁽⁶⁾			1	09/26/2003	09/26/2003	Common Stock	60,000	$0⁽³⁾	0	I	by Spouse
Prepaid Variable Forward Contract (right to sell)⁽⁷⁾	0	06/24/2003		J⁽⁶⁾		1		09/26/2003	01/24/2005	Common Stock	60,000	$0⁽³⁾	1	I	by Spouse

Explanation of Responses:

1. On September 24, 2002, the reporting person entered into a prepaid variable forward contract with a securities brokerage firm. Under the terms of the documents relating to such contract, the reporting person would have to deliver up to the 208,000 shares of the Issuer's common stock referenced in column 7 of Table II to the securities brokerage firm on September 24, 2003. The number of shares the reporting person would be required to deliver on such date was to be a function of the closing price of the Issuer's common stock on such date. Similarly, the amounts that would be in columns 2 and 8 of Table II would be a function of, among other things, the closing price of the Issuer's common stock on September 24, 2003.

2. The prepaid variable forward contact referenced in footnote 4 was modified on June 24, 2003 to change certain terms thereof, including those referenced in footnote 1 above. The number of shares of the Issuer's common stock the reporting person may have to deliver under the contract has not changed.

3. $0.00 has been inserted to satisfy the requirements to submit this form via the EDGAR system.

4. On June 24, 2003, the reporting person modified the prepaid variable forward contract referenced in footnote 4. Under the terms of the modified documents relating to such contract, the reporting person will have to deliver up to the 208,000 shares of the Issuer's common stock referenced in column 7 of Table II to a securities brokerage firm on January 24, 2005. The number of shares the reporting person will be required to deliver on such date shall be a function of the closing price of the Issuer's common stock on such date. Similarly, the amounts that would be in columns 2 and 8 of Table II will be a function of, among other things, the closing price of the Issuer's common stock on January 24, 2005.

5. On September 26, 2002, the spouse of the reporting person entered into a prepaid variable forward contract with a securities brokerage firm. Under the terms of the documents relating to such contract, the reporting person's spouse would have to deliver up to the 60,000 shares of the Issuer's common stock referenced in column 7 of Table II to the securities brokerage firm on September 26, 2003. The number of shares the reporting person's spouse be required to deliver on such date was to be a function of the closing price of the Issuer's common stock on such date. Similarly, the amounts that would be in columns 2 and 8 of Table II would be a function of, among other things, the closing price of the Issuer's common stock on September 26, 2003.

6. The prepaid variable forward contact referenced in footnote 7 was modified on June 24, 2003 to change certain terms thereof, including those referenced in footnote 5 above. The number of shares of the Issuer's common stock the reporting person's spouse may have to deliver under the contract has not changed.

7. On June 24, 2003, the spouse of the reporting person modified the prepaid variable forward contract with referenced in footnote 7. Under the terms of the modified documents relating to such contract, the reporting person's spouse will have to deliver up to the 60,000 shares of the Issuer's common stock referenced in column 7 of Table II to a securities brokerage firm on January 24, 2005. The number of shares the reporting person's spouse will be required to deliver on such date shall be a function of the closing price of the Issuer's common stock on such date. Similarly, the amounts that would be in columns 2 and 8 of Table II will be a function of, among other things, the closing price of the Issuer's common stock on January 24, 2005.

	By: Robert L. Paver, Attorney-in-Fact For: Mel S. Lavitt	06/26/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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