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* Callas James (Last) (First) (Middle) 101 INNOVATION DRIVE (Street) SAN JOSE CA 95134 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 10/16/2006	3. Issuer Name and Ticker or Trading Symbol ALTERA CORP [ ALTR ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) X Other (specify below) VP, Finance & Corp Controller VP, Finance & Corp Controller	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	6,000	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)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Qualified Stock Option (right to buy)	02/01/2002(1)	12/16/2008	Common Stock	28,000	$13.0157	D
Non-Qualified Stock Option (right to buy)	12/03/2003(2)	12/03/2012	Common Stock	45,000	$13.91	D
Non-Qualified Stock Option (right to buy)	04/29/1999(3)	03/29/2009	Common Stock	80,000	$15.4063	D
Non-Qualified Stock Option (right to buy)	01/03/2006(2)	01/03/2015	Common Stock	55,000	$20.04	D
Non-Qualified Stock Option (right to buy)	02/01/2005(4)	12/03/2011	Common Stock	55,000	$22.49	D
Non-Qualified Stock Option (right to buy)	02/01/2003(5)	12/14/2009	Common Stock	25,000	$22.7188	D
Non-Qualified Stock Option (right to buy)	01/05/2005(2)	01/05/2014	Common Stock	45,000	$23.47	D
Non-Qualified Stock Option (right to buy)	02/01/2004(6)	12/20/2010	Common Stock	40,000	$24.625	D

Explanation of Responses:

1. Option shall vest to the extent of one-twelfth of the shares subject to such option at the end of each month following January 1, 2002.

2. Option Vests 25% one year from grant date and then monthly over three years.

3. Option shall vest in equal monthly installments over 4 years

4. Option Vesting monthly during 2005

5. Option shall vest to the extent of one-twelfth of the shares subject to such option at the end of each month following January 1, 2003.

6. Option shall vest to the extent of one-twelfth of the shares subject to such option at the end of each month following January 1, 2004.

	By: Joanne Norgart by pwr of attny For: James Callas	11/13/2006
	** 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.