SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
REYES GREG
(Last) (First) (Middle)
1745 TECHNOLOGY DRIVE
(Street)
SAN JOSE CA 95110
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BROCADE COMMUNICATIONS SYSTEMS INC [ BRCD ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Chairman & CEO
3. Date of Earliest Transaction (Month/Day/Year)
03/31/2004
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 4,052,879 I by Trust(1)
Common Stock 03/31/2004 G(2) 100,000 D $6.64 900,000 I by Foundation(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-qualified Stock Option (right to buy)(4) $6.54 07/10/2003 07/10/2013 Common Stock 100,000 100,000 D
Non-qualified Stock Option (right to buy)(5) $6.54 07/10/2003 07/10/2013 Common Stock 480,000 480,000 D
Non-qualified Stock Option (right to buy)(6) $6.54 07/10/2003 07/10/2013 Common Stock 16,144 16,144 D
Non-qualified Stock Option (right to buy)(7) $6.54 07/10/2003 07/10/2013 Common Stock 380,858 380,858 D
Non-qualified Stock Option (right to buy)(8) $6.54 07/10/2003 07/10/2013 Common Stock 1,212 1,212 D
Non-qualified Stock Option (right to buy)(9) $6.54 07/10/2003 07/10/2013 Common Stock 125,000 125,000 D
Non-qualified Stock Option (right to buy)(10) $5.53 09/15/2003 08/15/2010 Common Stock 600,000 600,000 D
Non-qualified Stock Option (right to buy)(11) $5.52 01/10/2004 12/10/2010 Common Stock 500,000 500,000 D
Explanation of Responses:
1. Beneficial ownership disclosure only. Shares held by the Reyes Family Trust DTD 4/30/95, over which the Reporting Person and his spouse exercise investment and voting control.
2. Shares were gifted from the Reyes Family Foundation to the Saratoga High School Foundation.
3. Shares held by the Reyes Family Foundation.
4. Beneficial ownership disclosure only. 66,666 options vest on July 10, 2003; 33,334 options vest monthly from August 1, 2003 through November 1, 2003.
5. Beneficial ownership disclosure only. 26,666 options vest on July 10, 2003; 133,334 options vest monthly from August 1, 2003 through November 1, 2006; 320,000 options vest monthly from November 1, 2005 through November 1, 2006.
6. Beneficial ownership disclosure only. 10,969 options vest on July 10, 2003; 5,175 options vest monthly from August 1, 2003 through November 1, 2003.
7. Beneficial ownership disclosure only. 21,158 options vest on July 10, 2003; 105,794 options vest monthly from August 1, 2003 through November 1, 2006; 253,906 options vest monthly from November 1, 2005 through November 1, 2006.
8. Beneficial ownership disclosure only. 1,212 options vest on July 10, 2003.
9. Beneficial ownership disclosure only. 54,687 options vest on July 10, 2003; 70,313 options vest monthly from August 1, 2003 through October 1, 2005.
10. Beneficial ownership disclosure only. 600,000 options vest monthly from September 15, 2003 through August 15, 2007.
11. Beneficial ownership disclosure only. Options vest monthly from January 10, 2004 through December 10, 2007.
Remarks:
/s/ Richard Deranleau, attorney in fact for Gregory L. Reyes 04/01/2004
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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