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*
GOLDMAN KENNETH A

(Last) (First) (Middle)
C/O SIEBEL SYSTEMS, INC.
2207 BRIDGEPOINTE PARKWAY

(Street)
SAN MATEO CA 94404

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SIEBEL SYSTEMS INC [ SEBL ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
SVP Finance and Admin and CFO
3. Date of Earliest Transaction (Month/Day/Year)
01/30/2006
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)
Code V Amount (A) or (D) Price
Common Stock 01/30/2006 M 75,000 A $8.66 75,000 D
Common Stock 01/30/2006 S 25,000 D $10.63 50,000 D
Common Stock 01/30/2006 S 50,000 D $10.64 0 D
Common Stock 01/31/2006 D 164,618 D $0(1) 0 I Goldman-Valeriote Family Trust
Common Stock 01/31/2006 D 18,000 D $0(1) 0 I By Partnership
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (Right to buy) $8.66 01/30/2006 M 75,000 05/01/2004(2) 04/30/2009 Common Stock 75,000 $0 125,000 D
Stock Options (Right to buy) $8.66 01/31/2006 D 125,000(3) 05/01/2004 04/30/2009 Common Stock 125,000 $0 0 D
Stock Options (Right to buy) $10.38 01/31/2006 D 100,000(3) 05/05/2005 05/04/2010 Common Stock 100,000 $0 0 D
Stock Options (Right to buy) $17.7 01/31/2006 D 1,200,000(3) 01/24/2002 10/24/2011 Common Stock 1,200,000 $0 0 D
Stock Options (Right to buy) $23.88 01/31/2006 D 420,000(3) 04/05/2002 04/04/2011 Common Stock 420,000 $0 0 D
Stock Options (Right to buy) $32.88 01/31/2006 D 400,000(3) 07/18/2001 04/17/2011 Common Stock 400,000 $0 0 D
Stock Options (Right to buy) $58.31 01/31/2006 D 100,000(3) 01/08/2002 01/07/2011 Common Stock 100,000 $0 0 D
Stock Options (Right to buy) $72.56 01/31/2006 D 500,000(3) 09/26/2003 06/25/2010 Common Stock 500,000 $0 0 D
Restricted Stock Unit $0.001 01/31/2006 D 100,000(4) 01/31/2005 01/31/2015 Common Stock 100,000 $0 0 D
Explanation of Responses:
1. These shares were converted into the right to receive shares of Oracle Corporation common stock and cash pursuant to the terms of the merger agreement between issuer and Oracle.
2. The option becomes exercisable as to 20% on May 1, 2004 and as to 5% each quarter thereafter.
3. This option was automatically converted into an option to purchase shares of Oracle Corporation common stock pursuant to the terms of the merger agreement between issuer and Oracle.
4. This RSU was automatically converted into an RSU for Oracle Corporation common stock pursuant to the terms of the merger agreement between issuer and Oracle.
Jeffrey T. Amann, Power of Attorney 02/01/2006
** 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).
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