SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Tarrant Veronica

(Last)

(First)

(Middle)

740 CALLE PLANO

(Street)

CAMARILLO

93012

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/10/2005

3. Issuer Name and Ticker or Trading Symbol
POWER ONE INC [ PWER ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	VP, Fin.& Chief Acctg. Officer

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	8,332	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Option 1528-10/1/01	10/01/2002⁽¹⁾	10/01/2011	Common Stock	11,000	$5.77	D
Employee Stock Option 2408-1/8/03	01/08/2004⁽²⁾	01/08/2013	Common Stock	11,000	$6.02	D
Employee Stock Option 2456-1/17/03	01/17/2004⁽³⁾	01/17/2013	Common Stock	4,000	$5.9	D
Employee Stock Option 2661-7/21/04	02/23/2005⁽⁴⁾	07/21/2014	Common Stock	30,000	$9.12	D
Employee Stock Option 966-6/29/00	06/29/2001⁽⁵⁾	06/29/2010	Common Stock	30,000	$51.97	D
NQSO (Contingent Expiration)	10/01/2004⁽⁶⁾	10/01/2011	Common Stock	15,000	$5.77	D

Explanation of Responses:

1. For the noted grant, dated 10/1/01, 25% of the shares vest on each of the first, second, and third anniversaries of the date of grant, and 25% vest on 2/23/05, at which time all shares will be fully vested and exercisable.

2. For the noted grant, dated 1/8/03, 25% of shares vest on the first anniversary of the date of grant, 25% on the second anniversary of the date of grant, and 50% on 2/23/05.

3. For the noted grant, dated 1/17/03, 25% of shares vest on the first anniversary of the date of grant, 25% on the second anniversary of the date of grant, and 50% on 2/23/05.

4. All shares fully vest on 2/23/05.

5. For the noted grant, dated 6/29/00, 25% of the shares vest on each anniversary of the date of grant, until the fourth anniversary of the date of grant, at which time all shares will be fully vested and exercisable.

6. For the noted grant, the option expires on the earlier to occur of (a) six months plus one day following the Trigger Date (as defined in the grant agreement), or (b) tenth anniversary of the date of grant. The shortened period for exercise associated with alternative (a) may occur at any time once a Trigger Date has occurred, even if same occurs after vesting of the option.

Remarks:

	By: Randall H. Holliday, Attorney-in-Fact for	05/18/2005
	** 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 5 (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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.