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* Slusky Alexander R (Last) (First) (Middle) C/O VECTOR CAPITAL CORPORATION 1 MARKET STREET, STEUART TOWER 23RD FL. (Street) SAN FRANCISCO CA 94105 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol COREL CORP [ CREL ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 12/02/2009
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X 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	12/02/2009		J(1)		45,900	A	$4	22,245,903	I	See footnote(3)
Common Stock	12/03/2009		J(2)		20,435	A	$4	22,266,338	I	See footnote(3)

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

1. Name and Address of Reporting Person* Slusky Alexander R (Last) (First) (Middle) C/O VECTOR CAPITAL CORPORATION 1 MARKET STREET, STEUART TOWER 23RD FL. (Street) SAN FRANCISCO CA 94105 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Vector Capital Partners II International, Ltd. (Last) (First) (Middle) C/O VECTOR CAPITAL CORPORATION 1 MARKET STREET, STEUART TOWER, 23RD FL. (Street) SAN FRANCISCO CA 94105 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Corel Holdings, L.P. (Last) (First) (Middle) C/O VECTOR CAPITAL CORPORATION 1 MARKET STREET, STEUART TOWER, 23RD FL. (Street) SAN FRANCISCO CA 94105 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. The securities were acquired on December 2, 2009 in the subsequent offering period pursuant to Corel Holdings, L.P.'s tender offer as set forth in the Tender Offer Statement and Rule 13E-3 Transaction Statement filed under cover of Schedule TO on October 28, 2009, as amended and supplemented, by Corel Holdings, L.P.

2. The securities were acquired on December 3, 2009 in the subsequent offering period pursuant to Corel Holdings, L.P.'s tender offer as set forth in the Tender Offer Statement and Rule 13E-3 Transaction Statement filed under cover of Schedule TO on October 28, 2009, as amended and supplemented, by Corel Holdings, L.P.

3. The reported securities are owned directly by Corel Holdings, L.P., a Cayman Islands limited partnership. The sole general partner of Corel Holdings, L.P. is Vector Capital Partners II International, Ltd., which is wholly owned by VCPII International LLC. The managing member of VCPII International LLC is Alexander Slusky. Mr. Slusky disclaims beneficial ownership of these Shares, except to the extent of his pecuniary interest in them.

	/s/ Alexander Slusky	12/04/2009
	/s/ Alexander Slusky, Director, for Vector Capital Partners II International, Ltd.	12/04/2009
	/s/ Alexander Slusky, Director, By Vector Capital Partners II International, Ltd., Its General Partner, for Corel Holdings, L.P.	12/04/2009
	** Signature of Reporting Person	Date
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