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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	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* SANCHEZ ANTONIO R III (Last) (First) (Middle) (Street) (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol ZIX CORP [ ZIXI ]	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) 09/18/2003
	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	09/18/2003		J(1)		14,926	A	$3.92	83,692	I	By 1988 Spendthrift Trust(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
Series A Convertible Preferred Stock	$4.1	09/18/2003		J(1)			14,015	09/18/2002	08/08/1988(3)	Common Stock	14,926	$3.92	84,091	I	By 1988 Spendthrift Trust(2)

Explanation of Responses:

1. On September 18, 2003, in accordance with the terms and provisions of the Statement of Designations of the Series A Convertible Preferred Stock of Zix Corporation (the "Series A Statement of Designations"), the issuer called for the redemption of certain shares of its Series A Convertible Preferred Stock, including 14,015 shares held by the 1988 Spendthrift Trust, a trust for which the filing person is a co-trustee. The terms of the Series A Statement of Designations provide that the redemption price of the Series A Convertible Preferred Stock, which is equal to $3.92 per share plus accrued but unpaid dividends thereon, will be payable by the issuer in shares of its Common Stock.

2. Securities are held by the 1988 Spendthrift Trust, a trust for which the filing person is a co-trustee.

3. The SEC's online filing system for Section 16 reports contains a mandatory field for the expiration date of derivative securities. However, pursuant to the terms and provisions of the Series A Statement of Designations, the Series A Convertible Preferred Stock does not have an expiration date. In accordance with instructions of the SEC (FAQ: Section 16 Electronic Reporting; Q.5), an expiration date of August 8, 1988 has been designated as the expiration date for the Series A Convertible Preferred Stock.

	/s/ Antonio R. Sanchez, III	09/22/2003
	** 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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