SEC FORM 4

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^*

RECHAN LESLIE J

(Last)

(First)

(Middle)

C/O SIEBEL SYSTEMS, INC.

2207 BRIDGEPOINTE PARKWAY

(Street)

SAN MATEO

94404

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SIEBEL SYSTEMS INC [ SEBL ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SVP & GM, Americas Sales

3. Date of Earliest Transaction (Month/Day/Year)
07/15/2005

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	07/15/2005		P⁽¹⁾	V	3.4126	A	$8.7⁽²⁾	1,246.4126⁽³⁾	D
Common Stock	07/29/2005		M		12,000	A	$0.001	14,488.4126⁽³⁾	D
Common Stock	07/29/2005		F		4,290⁽⁴⁾	D	$8.4	10,198.4126⁽³⁾	D
Common Stock	07/29/2005		M		10,000	A	$0.001	20,198.4126⁽³⁾	D
Common Stock	07/29/2005		F		3,575⁽⁴⁾	D	$8.4	16,623.4126⁽³⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Unit	$0	07/29/2005		A		200,000		07/29/2006⁽⁵⁾	07/29/2011	Common Stock	200,000	$0	200,000	D
Restricted Stock Unit	$0.001	07/29/2005		J			10,000	07/29/2005	11/29/2005	Common Stock	10,000	$0	10,000	D
Restricted Stock Unit	$0.001	07/29/2005		J			12,000	07/29/2005	07/29/2009	Common Stock	12,000	$0	48,000	D

Explanation of Responses:

1. On June 8, 2005, the Issuer declared a cash dividend of $0.025 per share, payable on July 15, 2005 to all holders of record at the close of business on June 30, 2005. The dividend paid on shares held by the Reporting Person in an employee stock purchase plan brokerage account was reinvested through an open market purchase.

2. Reflects the open market purchase price on July 15, 2005, the payment date for the dividend.

3. Ending balance of securities beneficially owned in lines 2 through 5 of Table I includes 1,242 shares purchased under the Siebel Systems, Inc. Employee Stock Purchase Plan on July 29, 2005.

4. Shares were withheld from issuance to satisfy tax obligation.

5. This Restricted Stock Unit vests 20% per year beginning on the first anniversary of the date of grant. The Restricted Stock Unit does not have an expiration date.

	Leslie J Rechan	08/02/2005
	** 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 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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