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^*

RODEK JEFFREY R

(Last)

(First)

(Middle)

5450 GREAT AMERICA PARKWAY

(Street)

SANTA CLARA

95054

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
HYPERION SOLUTIONS CORP [ HYSL ]

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

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Executive Chairman of the BOD

3. Date of Earliest Transaction (Month/Day/Year)
01/28/2005

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	01/28/2005		M⁽¹⁾		21,750	A	$19.0625	202,147	D
Common Stock	01/28/2005		S⁽²⁾		21,750	D	$47.4683	180,397	D
Common Stock	01/28/2005		M⁽¹⁾		18,610	A	$19.0625	199,007	D
Common Stock	01/28/2005		S⁽²⁾		18,610	D	$47.4006	180,397	D
Common Stock	01/28/2005		M⁽¹⁾		2,295	A	$19.0625	182,692	D
Common Stock	01/28/2005		S⁽²⁾		2,295	D	$48.41	180,397	D
Common Stock	01/28/2005		M⁽¹⁾		1,585	A	$19.0625	181,982	D
Common Stock	01/28/2005		S⁽²⁾		1,585	D	$48.05	180,397	D
Common Stock	01/28/2005		M⁽¹⁾		15,905	A	$19.0625	196,302	D
Common Stock	01/28/2005		S⁽²⁾		15,905	D	$47.4307	180,397	D
Common Stock	01/28/2005		M⁽¹⁾		3,515	A	$19.0625	183,912	D
Common Stock	01/28/2005		S⁽²⁾		3,515	D	$48.1	180,397	D
Common Stock	01/28/2005		M⁽³⁾		2,605	A	$23.8	183,002	D
Common Stock	01/28/2005		S⁽²⁾		2,605	D	$48.05	180,397	D

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)
Non-Qualified Stock Option (right to buy)	$19.0625	01/28/2005		M⁽¹⁾			21,750	10/11/2000	10/10/2009	Common Stock	21,750	$47.4683	92,270	D
Non-Qualified Stock Option (right to buy)	$19.0625	01/28/2005		M⁽¹⁾			18,610	10/11/2000	10/10/2009	Common Stock	18,610	$47.4006	73,660	D
Non-Qualified Stock Option (right to buy)	$19.0625	01/28/2005		M⁽¹⁾			2,295	10/11/2000	10/10/2009	Common Stock	2,295	$48.41	71,365	D
Non-Qualified Stock Option (right to buy)	$19.0625	01/28/2005		M⁽¹⁾			1,585	10/11/2000	10/10/2009	Common Stock	1,585	$48.05	69,780	D
Non-Qualified Stock Option (right to buy)	$19.0625	01/28/2005		M⁽¹⁾			15,905	10/11/2000	10/10/2009	Common Stock	15,905	$47.4307	53,875	D
Non-Qualified Stock Option (right to buy)	$19.0625	01/28/2005		M⁽¹⁾			3,515	10/11/2000	10/10/2009	Common Stock	3,515	$48.1	50,360	D
Non-Qualified Stock Option (right to buy)	$23.8	01/28/2005		M⁽³⁾			2,605	09/11/2003	09/10/2012	Common Stock	2,605	$48.05	197,395	D

Explanation of Responses:

1. Exercise of option granted 10/11/99.

2. Sale made pursuant to a rule 10b5-1 Plan.

3. Exercise of option granted 9/11/02.

	By: Kimberly A. Malvicini For: Jeffrey R. Rodek	02/01/2005
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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