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*
Luttrell D Scott
(Last) (First) (Middle)
C/O CBEYOND, INC.
320 INTERSTATE NORTH PARKWAY, SUITE 300
(Street)
ATLANTA GA 30339
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CBEYOND, INC. [ CBEY ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
10/01/2007
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 10/01/2007 S 20,000(1) D $42.57 369,412 I See Footnote(2)
Common Stock 10/01/2007 S 5,000(3) D $42.31 364,412 I See Footnote(4)
Common Stock 10/02/2007 S 2,793(5) D $44.58 361,619 I See Footnote(6)
Common Stock 3,725 I See Footnote(7)
Common Stock 2,705 D
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:
1. 118 Capital Fund, Inc. sold these 20,000 shares. 118 Capital Fund, Inc. is part of an affiliated group of investment partnerships commonly controlled by LCM Group, Inc. Mr. Luttrell is the Chief Executive Officer and founder of LCM Group, Inc.
2. Mr. Luttrell is the Chief Executive Officer and founder of LCM Group, Inc. Of the 369,412 common shares, 118 Capital Fund, Inc. owns 354,455 shares; LCM Profit Sharing Plan owns 4,742 shares; and 2514 Multi-Strategy Fund LP owns 10,215 shares. 118 Capital Fund, Inc., LCM Profit Sharing Plan and 2514 Multi-Strategy Fund LP are part of an affiliated group of investment partnerships commonly controlled by LCM Group, Inc.
3. 2514 Multi-Strategy Fund LP sold these 5,000 shares. 2514 Multi-Strategy Fund LP is part of an affiliated group of investment partnerships commonly controlled by LCM Group, Inc. Mr. Luttrell is the Chief Executive Officer and founder of LCM Group, Inc.
4. Mr. Luttrell is the Chief Executive Officer and founder of LCM Group, Inc. Of the 364,412 common shares, 118 Capital Fund, Inc. owns 354,455 shares; LCM Profit Sharing Plan owns 4,742 shares; and 2514 Multi-Strategy Fund LP owns 5,215 shares. 118 Capital Fund, Inc., LCM Profit Sharing Plan and 2514 Multi-Strategy Fund LP are part of an affiliated group of investment partnerships commonly controlled by LCM Group, Inc.
5. 118 Capital Fund, Inc. sold these 2,793 shares. 118 Capital Fund, Inc. is part of an affiliated group of investment partnerships commonly controlled by LCM Group, Inc. Mr. Luttrell is the Chief Executive Officer and founder of LCM Group, Inc.
6. Mr. Luttrell is the Chief Executive Officer and founder of LCM Group, Inc. Of the 361,619 common shares, 118 Capital Fund, Inc. owns 351,662 shares; LCM Profit Sharing Plan owns 4,742 shares; and 2514 Multi-Strategy Fund LP owns 5,215 shares. 118 Capital Fund, Inc., LCM Profit Sharing Plan and 2514 Multi-Strategy Fund LP are part of an affiliated group of investment partnerships commonly controlled by LCM Group, Inc.
7. These shares are owned by 316 Capital, LLC, of which the reporting person owns an indirect 90% interest.
Remarks:
The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person.
/s/ J. Robert Fugate, attorney-in-fact for D. Scott Luttrell 10/03/2007
** 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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