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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001181431-06-028053.txt : 20060504
<SEC-HEADER>0001181431-06-028053.hdr.sgml : 20060504
<ACCEPTANCE-DATETIME>20060504194110
ACCESSION NUMBER:		0001181431-06-028053
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060502
FILED AS OF DATE:		20060504
DATE AS OF CHANGE:		20060504

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:		1221 CROSSMAN AVENUE
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94089
		BUSINESS PHONE:		4085486500

	MAIL ADDRESS:	
		STREET 1:		1221 CROSSMAN AVENUE
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94089

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Paddock Bradley W
		CENTRAL INDEX KEY:			0001323558

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-49804
		FILM NUMBER:		06810287

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		408-548-6500

	MAIL ADDRESS:	
		STREET 1:		C/O KYPHON INC.
		STREET 2:		1221 CROSSMAN AVENUE
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94089
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd116371.xml
<DESCRIPTION>10B5-1 SAME DAY SALES OF 3,000 SHARES ON 5/02/2006
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-05-02</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001123313</issuerCik>
        <issuerName>KYPHON INC</issuerName>
        <issuerTradingSymbol>KYPH</issuerTradingSymbol>
    </issuer>

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        <reportingOwnerId>
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            <rptOwnerName>Paddock Bradley W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O KYPHON INC.</rptOwnerStreet1>
            <rptOwnerStreet2>1221 CROSSMAN AVENUE</rptOwnerStreet2>
            <rptOwnerCity>SUNNYVALE</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94089</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>VP, US Sales</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
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            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2572</value>
                </transactionShares>
                <transactionPricePerShare>
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            <transactionAmounts>
                <transactionShares>
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                <transactionPricePerShare>
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                <transactionPricePerShare>
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            <exerciseDate>
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                <transactionPricePerShare>
                    <value>0</value>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
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            </transactionAmounts>
            <exerciseDate>
                <value>2003-06-01</value>
                <footnoteId id="F2"/>
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            <expirationDate>
                <value>2013-05-01</value>
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                <underlyingSecurityTitle>
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                <sharesOwnedFollowingTransaction>
                    <value>188258</value>
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        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option (Right To Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>6.95</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-05-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>156</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2003-10-01</value>
                <footnoteId id="F8"/>
            </exerciseDate>
            <expirationDate>
                <value>2012-11-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>156</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>188102</value>
                    <footnoteId id="F9"/>
                </sharesOwnedFollowingTransaction>
            </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:  1/48th per month beginning on the date exercisable.</footnote>
        <footnote id="F3">Includes 50,000 options exercisable at $37.65 per share, granted 7/21/05; 132,204 options exercisable at $24.06 per share, granted on 12/1/04; 303 options exercisable at $23.57 per share, granted on 8/19/04; 3,500 options exercisable at $20.83 per share, granted on 3/24/04; 230 options exercisable at $24.18 per share, granted on 1/9/04; 1,355 options exercisable at $9.29 per share, granted on 5/1/03, and 938 options exercisable at $6.95 per share, granted on 11/12/02.</footnote>
        <footnote id="F4">Includes 50,000 options exercisable at $37.65 per share, granted 7/21/05; 132,204 options exercisable at $24.06 per share, granted on 12/1/04; 292 options exercisable at $23.57 per share, granted on 8/19/04; 3,500 options exercisable at $20.83 per share, granted on 3/24/04; 230 options exercisable at $24.18 per share, granted on 1/9/04; 1,355 options exercisable at $9.29 per share, granted on 5/1/03, and 938 options exercisable at $6.95 per share, granted on 11/12/02.</footnote>
        <footnote id="F5">Includes 50,000 options exercisable at $37.65 per share, granted 7/21/05; 132,204 options exercisable at $24.06 per share, granted on 12/1/04; 292 options exercisable at $23.57 per share, granted on 8/19/04; 3,355 options exercisable at $20.83 per share, granted on 3/24/04; 230 options exercisable at $24.18 per share, granted on 1/9/04; 1,355 options exercisable at $9.29 per share, granted on 5/1/03, and 938 options exercisable at $6.95 per share, granted on 11/12/02.</footnote>
        <footnote id="F6">Includes 50,000 options exercisable at $37.65 per share, granted 7/21/05; 132,204 options exercisable at $24.06 per share, granted on 12/1/04; 292 options exercisable at $23.57 per share, granted on 8/19/04; 3,355 options exercisable at $20.83 per share, granted on 3/24/04; 219 options exercisable at $24.18 per share, granted on 1/9/04; 1,355 options exercisable at $9.29 per share, granted on 5/1/03, and 938 options exercisable at $6.95 per share, granted on 11/12/02.</footnote>
        <footnote id="F7">Includes 50,000 options exercisable at $37.65 per share, granted 7/21/05; 132,204 options exercisable at $24.06 per share, granted on 12/1/04; 292 options exercisable at $23.57 per share, granted on 8/19/04; 3,355 options exercisable at $20.83 per share, granted on 3/24/04; 219 options exercisable at $24.18 per share, granted on 1/9/04; 1,250 options exercisable at $9.29 per share, granted on 5/1/03, and 938 options exercisable at $6.95 per share, granted on 11/12/02.</footnote>
        <footnote id="F8">This option vests according to the following schedule:  1/4th upon the date exercisable and 1/36th of the remainder per month thereafter.</footnote>
        <footnote id="F9">Includes 50,000 options exercisable at $37.65 per share, granted 7/21/05; 132,204 options exercisable at $24.06 per share, granted on 12/1/04; 292 options exercisable at $23.57 per share, granted on 8/19/04; 3,355 options exercisable at $20.83 per share, granted on 3/24/04; 219 options exercisable at $24.18 per share, granted on 1/9/04; 1,250 options exercisable at $9.29 per share, granted on 5/1/03, and 782 options exercisable at $6.95 per share, granted on 11/12/02.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>David M. Shaw, Attorney-in-Fact</signatureName>
        <signatureDate>2006-05-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----