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* Tchwella Yaron (Last) (First) (Middle) C/O COMVERSE, INC. 29 HABARZEL STREET (Street) TEL AVIV L3 69710 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 03/31/2007	3. Issuer Name and Ticker or Trading Symbol COMVERSE TECHNOLOGY INC/NY/ [ CMVT.PK ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) President/Subsidiary	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	50,000(1)	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
Deferred Stock Award (units)	(2)	(3)	Common Stock	40,000	(4)	D
Stock Option (right to purchase)	(5)	01/27/2008	Common Stock	2,250	$10.42	D
Stock Option (right to purchase)	(5)	10/22/2001	Common Stock	10,204	$10.52	D
Stock Option (right to purchase)	(5)	11/30/2010	Common Stock	3,469	$10.52	D
Stock Option (right to purchase)	(6)	08/15/2013	Common Stock	150,000	$14.68	D
Stock Option (right to purchase)	(7)	12/19/2013	Common Stock	20,000	$16.7	D
Stock Option (right to purchase)	(8)	12/06/2014	Common Stock	50,000	$22.39	D
Stock Option (right to purchase)	(9)	10/14/2015	Common Stock	50,000	$24.04	D

Explanation of Responses:

1. Restricted shares which will vest on July 31, 2007.

2. Units representing the Deferred Stock Award will vest as follows: 75% on January 26, 2008 and 25% on January 26, 2009.

3. Not applicable.

4. Each unit of the Deferred Stock Award represents a contingent right to receive one share of Comverse Technology, Inc. Common Stock.

5. Currently exercisable.

6. 112,500 options are currently exercisable. The remaining 37,500 options will vest on August 15, 2007.

7. 16,250 options are currently exercisable. The remaining 3,750 options will vest ratably on a quarterly basis through December 19, 2007.

8. 28,125 options are currently exercisable. The remaining 21,875 options will vest ratably on a quarterly basis through December 6, 2008.

9. 15,625 options are currently exercisable. The remaining 34,375 options will vest ratably on a quarterly basis through October 14, 2009.

	/s/ Yaron Tchwella	04/05/2007
	** 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 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).
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