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*
Rajaratnam Raj
(Last) (First) (Middle)
C/O GALLEON MANAGEMENT, L.P.
590 MADISON AVENUE, 34TH FLOOR
(Street)
NEW YORK NY 10022
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PeopleSupport, Inc. [ PSPT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
08/21/2007
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 08/21/2007 P 479 A $12.12 3,072,394 I See Notes (1) and (2)
Common Stock 08/21/2007 P 1,200 A $12.13 3,073,594 I See Notes (1) and (2)
Common Stock 08/21/2007 P 300 A $12.14 3,073,894 I See Notes (1) and (2)
Common Stock 08/21/2007 P 2,000 A $12.15 3,075,894 I See Notes (1) and (2)
Common Stock 08/21/2007 P 1,146 A $12.16 3,077,040 I See Notes (1) and (2)
Common Stock 08/21/2007 P 2,000 A $12.17 3,079,040 I See Notes (1) and (2)
Common Stock 08/21/2007 P 531 A $12.18 3,079,571 I See Notes (1) and (2)
Common Stock 08/21/2007 P 1,341 A $12.19 3,080,912 I See Notes (1) and (2)
Common Stock 08/21/2007 P 500 A $12.2 3,081,412 I See Notes (1) and (2)
Common Stock 08/21/2007 P 300 A $12.21 3,081,712 I See Notes (1) and (2)
Common Stock 08/21/2007 P 1,300 A $12.22 3,083,012 I See Notes (1) and (2)
Common Stock 08/21/2007 P 100 A $12.225 3,083,112 I See Notes (1) and (2)
Common Stock 08/21/2007 P 5,200 A $12.23 3,088,312 I See Notes (1) and (2)
Common Stock 08/21/2007 P 3,600 A $12.24 3,091,912 I See Notes (1) and (2)
Common Stock 08/21/2007 P 345,489 A $12.25 3,437,401 I See Notes (1) and (2)
Common Stock 08/21/2007 P 400 A $12.26 3,437,801 I See Notes (1) and (2)
Common Stock 08/21/2007 P 13,435 A $12.27 3,451,236 I See Notes (1) and (2)
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
Explanation of Responses:
Remarks:
1. These securities are held by Galleon Special Opportunities Master Fund, SPC, Ltd. - Galleon Crossover Segregated Portfolio Company ("CROSSOVER") and Galleon Buccaneers Offshore, Ltd. ("BUCCANEERS"), respectively. Pursuant to an investment management agreement with CROSSOVER, Galleon Special Opportunities Management LLC ("SPECIAL OPS") has investment and voting power with respect to the securities held by CROSSOVER. Mr. Rajaratnam (the "Reporting Person"), as managing member of SPECIAL OPS, controls SPECIAL OPS. Pursuant to an investment management agreement with BUCCANEERS, Galleon Management, L.P. (LP) has investment and voting power with respect to the securities held by BUCCANEERS. The Reporting Person, as managing member of Galleon Management, L.L.C. (LLC), controls LLC, which, as general partner of LP, controls LP. 2. The Reporting Person disclaims any beneficial ownership of any of the Issuer's securities to which this Form 4 relates, except to the extent of his indirect pecuniary interest therein, and this Form 4 shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities.
[/s/ George Lau, Chief Financial Officer] 08/22/2007
** 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).
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