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^*

PAGET JONATHAN

(Last)

(First)

(Middle)

CAMBRIDGE HOUSE, OXFORD ROAD

(Street)

UXBRIDGE, MIDDLESEX

UB81UN

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
AIRSPAN NETWORKS INC [ AIRN ]

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

Director		10% Owner
Officer (give title below)	X	Other (specify below)
		Officer of a Reporting Company

3. Date of Earliest Transaction (Month/Day/Year)
02/12/2004

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	02/12/2004		M		21,667	A	$0.54	21,667	D
Common stock	02/12/2004		S		21,667	D	$5.37	0	D
Common stock	02/12/2004		M		10,833	A	$0.54	10,833	D
Common stock	02/12/2004		S		10,833	D	$5.37	0	D
Common stock	02/12/2004		M		36,000	A	$1.039	36,000	D
Common stock	02/12/2004		S		36,000	D	$5.37	0	D
Common stock	02/12/2004		M		65,000	A	$1.039	65,000	D
Common stock	02/12/2004		S		65,000	D	$5.37	0	D
Common stock	02/12/2004		M		91,256	A	$1.039	91,256	D
Common stock	02/12/2004		S		10,165	D	$5.37	81,091	D
Common stock	02/12/2004		M		31,335	A	$1.039	112,426	D
Common stock	02/12/2004		S		31,335	D	$5.37	81,091	D
Common stock	02/12/2004		M		25,000	A	$0.45	106,091	D
Common stock	02/12/2004		S		25,000	D	$5.37	81,091	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)
Options (Right to buy)	$0.54	02/12/2004		M			21,667	03/23/1999	04/01/2009	Common stock	21,667	$0.54	0	D
Options (Right to buy)	$0.54	02/12/2004		M			10,833	04/15/2000	04/01/2009	Common stock	10,833	$0.54	0	D
Options (Right to buy)	$1.039	02/12/2004		M			36,000	02/07/2002⁽¹⁾	02/07/2011	Common stock	36,000	$1.039	12,000	D
Options (Right to buy)	$1.039	02/12/2004		M			65,000	11/01/2000⁽²⁾	11/01/2010	Common stock	65,000	$1.039	15,000	D
Options (Right to buy)	$1.039	02/12/2004		M			91,256	06/21/2001⁽¹⁾	06/21/2010	Common stock	91,256	$1.039	10,611	D
Options (Right to buy)	$1.039	02/12/2004		M			31,335	10/05/2000	10/05/2009	Common stock	31,335	$1.039	0	D
Options (Right to buy)	$0.45	02/12/2004		M			25,000	09/25/2003⁽¹⁾	09/25/2012	Common stock	25,000	$0.45	50,000	D

Explanation of Responses:

1. Stated date is the vesting date for 25% of stock options granted to reporting person; an additional 1/48th of such options vest monthly thereafter.

2. Options vest 100% as of 11/01/07.

	Christopher H. Cunningham, Attorney in Fact	02/17/2004
	** 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 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.
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.