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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 ULqXhRyjkEkv6yt1Df8SaELbWy07bZKCfV3Ji1VA36eH+x8LmifcAtRgPql0qph9
 H6OFj61CWqYrpN57lKYxsg==

<SEC-DOCUMENT>0001181431-03-031702.txt : 20031119
<SEC-HEADER>0001181431-03-031702.hdr.sgml : 20031119
<ACCEPTANCE-DATETIME>20031119122343
ACCESSION NUMBER:		0001181431-03-031702
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:			EDIDIN AVRAM A
		CENTRAL INDEX KEY:			0001210217

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-49804
		FILM NUMBER:		031012144

	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>rrd23257.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>0001210217</rptOwnerCik>
            <rptOwnerName>EDIDIN AVRAM A</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, Research and Development</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-11-17</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>6000</value></transactionShares><transactionPricePerShare><value>3.00</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>7352</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></owners
hipNature></nonDerivativeTransaction><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>6000</value></transactionShares><transactionPricePerShare><value>25.0433</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>1352</value><footnoteId id="F4"/></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><derivativeTable><derivativeTransaction><securityTitle><value>Employee Stock Option (Right to
 Buy)</value></securityTitle><conversionOrExercisePrice><value>3.00</value></conversionOrExercisePrice><transactionDate><value>2003-11-17</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>6000</value></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2003-01-28</value><footnoteId id="F2"/></exerciseDate><expirationDate><value>2012-02-28</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>251000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>245000</value><footnoteId id="F3"/></sharesOwnedFollowingT
ransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">Sale made pursuant to a 10b5-1 Trading Plan.</footnote><footnote id="F2">This option vests according to the following schedule:  1/4 upon the date exercisable and 1/48 per month thereafter.</footnote><footnote id="F3">Includes 240,000 shares exercisable at $3.00 per share, granted on 02/28/2002 and 5,000 shares exercisable at $15.40 per share, granted on 07/21/2003.</footnote><footnote id="F4">Total includes 674 shares purchased in February 2003 and 678 shares purchased in August 2003 by Reporting Person under Issuer's Employee Stock Purchase Plan.</footnote></footnotes><ownerSignature><signatureName>Jeffrey L. Kaiser, Attorney-in-Fact</signatureName><signatureDate>2003-11-18</signatureDate></ownerSignature></ownershipDocument>



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