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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 TfZdGZdKVaQc75hz61XIvWdcBXQNzrnFjOTiMI7HyBXNH6iggt4QdXSFGohlDgkh
 UlDJgg7ZDAnVYbtN3/r2xw==

<SEC-DOCUMENT>0001181431-03-031700.txt : 20031119
<SEC-HEADER>0001181431-03-031700.hdr.sgml : 20031119
<ACCEPTANCE-DATETIME>20031119121807
ACCESSION NUMBER:		0001181431-03-031700
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031117
FILED AS OF DATE:		20031119

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KAISER JEFFREY L
		CENTRAL INDEX KEY:			0001210221

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-49804
		FILM NUMBER:		031012128

	MAIL ADDRESS:	
		STREET 1:		1350 BORDEAUX DRIVE
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94089

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KYPHON INC
		CENTRAL INDEX KEY:			0001123313
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				770366069
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1350 BORDEAUX DR
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94089
		BUSINESS PHONE:		4085486500
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd23258.xml
<DESCRIPTION>10B5-1 SALE ON 11/17/03
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-11-17</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001123313</issuerCik>
        <issuerName>KYPHON INC</issuerName>
        <issuerTradingSymbol>KYPH</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001210221</rptOwnerCik>
            <rptOwnerName>KAISER JEFFREY L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>KYPHON INC.</rptOwnerStreet1>
            <rptOwnerStreet2>1350 BORDEAUX DRIVE</rptOwnerStreet2>
            <rptOwnerCity>SUNNYVALE</rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode>94089</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>VP, Finance and Admin. and CFO</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-11-17</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F1"/></transactionCoding><transactionAmounts><transactionShares><value>2000</value></transactionShares><transactionPricePerShare><value>25.0433</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>181009</value><footnoteId id="F2"/></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><va
lue>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><footnotes><footnote id="F1">Sale made pursuant to a 10b5-1 Trading Plan.</footnote><footnote id="F2">8,336 of these shares are subject to a right of repurchase by the issuer which lapses at the rate of 2,083 shares per month.  Total includes 495 shares purchased in February 2003 and 514 shares purchased in August 2003 by Reporting Person under Issuer's Employee Stock Purchase Plan.</footnote></footnotes><ownerSignature><signatureName>Jeffrey L. Kaiser</signatureName><signatureDate>2003-11-18</signatureDate></ownerSignature></ownershipDocument>



</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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