SEC FORM 4

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

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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^*

ROUSSEY PHILIP M

(Last)

(First)

(Middle)

1941 RINGWOOD AVENUE

(Street)

SAN JOSE

95131

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
BELL MICROPRODUCTS INC [ BELM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Executive VP, Enterprise

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2003

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/21/2003		M		45,000	A	$4.8333	200,006	D
Common Stock	11/21/2003		S		2,000	D	$8.76	198,006	D
Common Stock	11/21/2003		S		2,000	D	$8.7323	196,006	D
Common Stock	11/21/2003		S		6,000	D	$8.73	190,006	D
Common Stock	11/21/2003		S		2,000	D	$8.7233	188,006	D
Common Stock	11/21/2003		S		2,000	D	$8.7025	186,006	D
Common Stock	11/21/2003		S		2,000	D	$8.7015	184,006	D
Common Stock	11/21/2003		S		2,000	D	$8.6985	182,006	D
Common Stock	11/21/2003		S		1,000	D	$8.69	181,006	D
Common Stock	11/21/2003		S		2,000	D	$8.6798	179,006	D
Common Stock	11/21/2003		S		2,000	D	$8.614	177,006	D
Common Stock	11/21/2003		S		2,000	D	$8.613	175,006	D
Common Stock	11/21/2003		S		2,000	D	$8.609	173,006	D
Common Stock	11/21/2003		S		2,000	D	$8.6055	171,006	D
Common Stock	11/21/2003		S		4,000	D	$8.601	167,006	D
Common Stock	11/21/2003		S		4,000	D	$8.6005	163,006	D
Common Stock	11/21/2003		S		8,000	D	$8.6	155,006	D
Common Stock	11/21/2003		S		1,000	D	$8.85	154,006	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (right to buy)	$4.8333	11/21/2003		M			45,000	⁽¹⁾	08/05/2004	Common Stock	45,000	$0	0	D

Explanation of Responses:

1. Exercisable: 11,250 shares on 08/05/00, 08/05/01, 08/05/02 and 08/05/03.

Remarks:

	Philip M. Roussey	11/21/2003
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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