-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DiOJ0O6eRjW1ThQ3O2pCdaqXEPMgLX7s0HP7IhzbYeuHwIc7eJ1Ke3QSo5yWf+vW
 q2qZXQcnIZcs887nxTv2VA==

<SEC-DOCUMENT>0001104659-04-008125.txt : 20040322
<SEC-HEADER>0001104659-04-008125.hdr.sgml : 20040322
<ACCEPTANCE-DATETIME>20040322195257
ACCESSION NUMBER:		0001104659-04-008125
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031231
FILED AS OF DATE:		20040322

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DIGITAL RIVER INC /DE
		CENTRAL INDEX KEY:			0001062530
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-COMPUTER & PERIPHERAL EQUIPMENT & SOFTWARE [5045]
		IRS NUMBER:				411901640
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		9625 W 76TH STREET SUITE 150
		CITY:			EDEN PRAIRIE
		STATE:			MN
		ZIP:			55344
		BUSINESS PHONE:		9522531234

	MAIL ADDRESS:	
		STREET 1:		9625 W 76TH STREET SUITE 150
		CITY:			EDEN PRAIRIE
		STATE:			MN
		ZIP:			55344

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KERUTIS JAY
		CENTRAL INDEX KEY:			0001189965

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24643
		FILM NUMBER:		04683497

	BUSINESS ADDRESS:	
		STREET 1:		9625 W 76TH ST STE 150
		CITY:			EDIN PRAIRIE
		STATE:			MN
		ZIP:			55344
		BUSINESS PHONE:		9522531234

	MAIL ADDRESS:	
		STREET 1:		9625 W 76TH ST STE 150
		CITY:			EDEN PRAIRIE
		STATE:			MN
		ZIP:			55344
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>a5.xml
<DESCRIPTION>5
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2003-12-31</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>1</form4TransactionsReported>

    <issuer>
        <issuerCik>0001062530</issuerCik>
        <issuerName>DIGITAL RIVER INC /DE</issuerName>
        <issuerTradingSymbol>DRIV</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001189965</rptOwnerCik>
            <rptOwnerName>KERUTIS JAY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9625 W 76TH STREET, SUITE 150</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>EDEN PRAIRIE</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55344</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President of SDCS</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option(Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>10.50</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2003-02-13</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value>L</value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>100000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>10.50</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2013-02-13</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>100000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>100000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Options vest quarterly over four years beginning 2/13/2003.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Carter C. Hicks, Attorney in Fact</signatureName>
        <signatureDate>2004-03-19</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----