X0202 4 2006-03-01 0 0001236038 REDENVELOPE INC REDE 0001273331 CONSTABLE KENNETH 149 NEW MONTGOMERY STREET SAN FRANCISCO CA 94105 1 1 0 0 President and CEO Common Stock 2006-03-01 4 A 0 200000 0.01 A 200000 D Executive will be vested in 25% of the shares on the date of grant. Executive shall vest in 1/36 of the remaining number of shares upon the 13 month anniversary of Executive's hire date (which hire date was February 21, 2006) and upon each monthly anniversary of the hire date thereafter for so long as Executive is employed by RedEnvelope, Inc. (or it's parent, subsidiary or affiliate). This price is per share. /s/ Christopher Nordquist, Attorney-in-fact 2006-03-02