-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 U56ocQtKXB//Vopv0E7RRqDuq0bOlMeIvxRDoz1J9Nctc93nn2+380ng2CjqvtFb
 6vFk/ZwF6D/FQGsXPBgnjQ==

<SEC-DOCUMENT>0001005477-03-004100.txt : 20031014
<SEC-HEADER>0001005477-03-004100.hdr.sgml : 20031013
<ACCEPTANCE-DATETIME>20031014165214
ACCESSION NUMBER:		0001005477-03-004100
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031010
FILED AS OF DATE:		20031014

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SCHAEFFER DAVE
		CENTRAL INDEX KEY:			0001166976

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31227
		FILM NUMBER:		03940073

	BUSINESS ADDRESS:	
		STREET 1:		11017 RIVERWOOD DR
		CITY:			POTOMAC
		STATE:			MD
		ZIP:			20854

	MAIL ADDRESS:	
		STREET 1:		11017 RIVERWOOD DR
		CITY:			POTOMAC
		STATE:			MD
		ZIP:			20854

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COGENT COMMUNICATIONS GROUP INC
		CENTRAL INDEX KEY:			0001158324
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				522337274

	BUSINESS ADDRESS:	
		STREET 1:		1015 31ST STREET
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20007
		BUSINESS PHONE:		2022954200
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
    <periodOfReport>2003-10-10</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001158324</issuerCik>
        <issuerName>COGENT COMMUNICATIONS GROUP INC</issuerName>
        <issuerTradingSymbol>COI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>

        <reportingOwnerId>
            <rptOwnerCik>0001166976</rptOwnerCik>
            <rptOwnerName>SCHAEFFER DAVE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1015 31ST ST., NW</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WASHINGTON</rptOwnerCity>
            <rptOwnerState>DC</rptOwnerState>
            <rptOwnerZipCode>20007</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
        <isDirector>1</isDirector>
        <isOfficer>1</isOfficer>
        <isTenPercentOwner>1</isTenPercentOwner>
        <isOther>0</isOther>
        <officerTitle>Chairman, President &amp; CEO</officerTitle>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>

        <securityTitle>
            <value>Common Stock</value>
        </securityTitle>

        <transactionDate>
            <value>2003-10-10</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>J</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F2"/>
    </transactionCoding>
        <transactionAmounts>

            <transactionShares>
                <value>1225000</value>
            </transactionShares>

            <transactionPricePerShare>
                <footnoteId id="F4"/>
            </transactionPricePerShare>

            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>

            <sharesOwnedFollowingTransaction>
                <value>1655424</value>
                <footnoteId id="F4"/>
                <footnoteId id="F6"/>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
        </nonDerivativeTransaction>

    </nonDerivativeTable>
    <derivativeTable>
        <derivativeTransaction>

        <securityTitle>
            <value>Option/right to buy</value>
            <footnoteId id="F1"/>
        </securityTitle>

        <conversionOrExercisePrice>
            <value>2.00</value>
        </conversionOrExercisePrice>

        <transactionDate>
            <value>2003-10-10</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>J</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F2"/>
    </transactionCoding>
        <transactionAmounts>

            <transactionShares>
                <value>478700</value>
            </transactionShares>

            <transactionPricePerShare>
                <value>0</value>
            </transactionPricePerShare>

            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>

        <exerciseDate>
            <value>2003-12-01</value>
        </exerciseDate>

        <expirationDate>
            <value>2011-12-01</value>
        </expirationDate>
        <underlyingSecurity>

            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>

            <underlyingSecurityShares>
                <value>478700</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>

            <sharesOwnedFollowingTransaction>
                <value>0</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
        </derivativeTransaction>

        <derivativeTransaction>

        <securityTitle>
            <value>Series H Convertible Preferred Stock</value>
        </securityTitle>

        <conversionOrExercisePrice>
            <value>0</value>
            <footnoteId id="F3"/>
        </conversionOrExercisePrice>

        <transactionDate>
            <value>2003-10-10</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>J</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
        <footnoteId id="F2"/>
    </transactionCoding>
        <transactionAmounts>

            <transactionShares>
                <value>37801</value>
            </transactionShares>

            <transactionPricePerShare>
                <footnoteId id="F5"/>
            </transactionPricePerShare>

            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>

        <exerciseDate>
            <value>2003-10-10</value>
            <footnoteId id="F4"/>
        </exerciseDate>

        <expirationDate>
            <footnoteId id="F4"/>
        </expirationDate>
        <underlyingSecurity>

            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>

            <underlyingSecurityShares>
                <value>29077692</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>

            <sharesOwnedFollowingTransaction>
                <value>37801</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
        </derivativeTransaction>

    </derivativeTable>
    <footnotes>
        <footnote id="F1">These options refer to unexercised rights to purchase common stock that were granted under the Amended and Restated Cogent Communications Group 2002 Equity Incentive Plan (the "Equity Incentive Plan").</footnote>
        <footnote id="F2">Options and common stock that were disposed of were exchanged for restricted shares of Series H Preferred Stock acquired in connection with a tender offer by Cogent Communications Group, Inc. described in Schedule TO filed on September 11, 2003 and amended on October 2, 2003 (file No. 005-78106).</footnote>
        <footnote id="F3">Each share of Series H Convertible Preferred Stock is convertible into 769.2307692 shares of common stock.</footnote>
        <footnote id="F4">Effective October 10, 2003, Mr. Schaeffer elected to exchange all of his unexercised stock option grants and 1,225,000 shares of common stock owned directly by him for 37,801 shares of Series H Convertible Preferred Stock, which are subject to certain vesting provisions.  There is no expiration date on conversion of the Series H Convertible Preferred Stock into common stock.</footnote>
        <footnote id="F5">In consideration for restricted shares of Series H Convertible Preferred Stock, all rights to purchase common stock that were granted under the Equity Incentive Plan were exchanged.</footnote>
        <footnote id="F6">This amount includes 135,000 shares that are held by Mr. Schaeffer's Descendant's Trust, as reported on his Form 3.  Mr. Schaeffer disclaims beneficial ownership of such shares.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>David Schaeffer</signatureName>
        <signatureDate>2003-10-14</signatureDate>
    </ownerSignature>

</ownershipDocument>

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