SEC Info - Investor AB - ‘4’ for 11/6/03 re: Kyphon Inc.

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^*

INVESTOR AB

(Last)

(First)

(Middle)

ARSENALSGATAN 8C, S-103 32

(Street)

STOCKHOLM, SWEDEN

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
KYPHON INC [ KYPH ]

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

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/6/03

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	11/6/03		S		700	D	$29	4,250,548	I	See Footnotes ⁽¹⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/6/03		S		3,500	D	$28.67	4,247,048	I	See Footnotes ⁽¹⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/6/03		S		13,300	D	$28.65	4,233,748	I	See Footnotes ⁽¹⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/6/03		S		1,750	D	$28.55	4,231,998	I	See Footnotes ⁽¹⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/6/03		S		12,250	D	$28.5	4,219,748	I	See Footnotes ⁽¹⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/6/03		S		300	D	$29	4,219,448	I	See Footnotes ⁽²⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/6/03		S		1,500	D	$28.67	4,217,948	I	See Footnotes ⁽²⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/6/03		S		5,700	D	$28.65	4,212,248	I	See Footnotes ⁽²⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/6/03		S		750	D	$28.55	4,211,498	I	See Footnotes ⁽²⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/6/03		S		5,250	D	$28.5	4,206,248	I	See Footnotes ⁽²⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/7/03		S		1,750	D	$28.512	4,204,498	I	See Footnotes ⁽¹⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/7/03		S		1,750	D	$28.5	4,202,748	I	See Footnotes ⁽¹⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/7/03		S		3,500	D	$28.01	4,199,248	I	See Footnotes ⁽¹⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/7/03		S		49,000	D	$28	4,150,248	I	See Footnotes ⁽¹⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/7/03		S		750	D	$28.512	4,149,498	I	See Footnotes ⁽²⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/7/03		S		750	D	$28.5	4,148,748	I	See Footnotes ⁽²⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/7/03		S		1,500	D	$28.01	4,147,248	I	See Footnotes ⁽²⁾ ⁽⁴⁾ ⁽⁵⁾
Common Stock	11/7/03		S		21,000	D	$28	4,126,248 ⁽³⁾	I	See Footnotes ⁽²⁾ ⁽⁴⁾ ⁽⁵⁾

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)

Explanation of Responses:

(1) These shares of the Issuer's common stock, $0.001 par value per share ("Shares"), were held for the account of Investor Growth Capital Limited, a Guernsey company ("IGC"). IGC is an indirectly wholly-owned subsidiary of the Reporting Person.

(2) These Shares were held for the account of Investor Group, L.P., a Guernsey company ("IG"). The Reporting Person is the ultimate general partner of IG.

(3) Following the reported transactions, the Reporting Person may be deemed to be the beneficial owner of 4,126,248 Shares. Of this amount, (i) 2,888,373 Shares are held for the account of IGC, and (ii) 1,237,875 Shares are held for the account of IG.

(4) The Reporting Person may be deemed to be a member of a "group" pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Act"), that, combined, has beneficial ownership of more than 10% of the Issuer's outstanding Shares. The filing of this statement shall not be deemed an admission that the Reporting Person is a member of any such "group" or that the Reporting Person is the beneficial owner of any Shares or other securities owned by any other person.

(5) The filing of this statement shall not be deemed an admission that the Reporting Person is the beneficial owner of any securities not held directly for its account for purposes of Section 16 of the Act, or otherwise.

Remarks:

	/s/ Henry Gooss for Investor AB	11/10/03
	/s/ Michael Oporto for Investor AB	11/10/03
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

____________ Transaction Code:
S	Open market or private sale of non-derivative or derivative security.

Investor AB – ‘4’ for 11/6/03 re: Kyphon Inc.

On: Monday, 11/10/03, at 4:51pm ET · For: 11/6/03 · As: 10% Owner · Accession #: 889232-3-4 · File #: 0-49804

Previous ‘4’: ‘4’ on 11/7/03 for 11/5/03 · Next: ‘4’ on 11/20/03 for 11/18/03 · Latest: ‘4’ on / for 5/29/14

Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 4 — SEA’34
Filing Table of Contents

This ‘4’ Document is an XML Data File that may be rendered in various formats:

Investor AB – ‘4’ for 11/6/03 re: Kyphon Inc.

On: Monday, 11/10/03, at 4:51pm ET · For: 11/6/03 · As: 10% Owner · Accession #: 889232-3-4 · File #: 0-49804

Previous ‘4’: ‘4’ on 11/7/03 for 11/5/03 · Next: ‘4’ on 11/20/03 for 11/18/03 · Latest: ‘4’ on / for 5/29/14

Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 4 — SEA’34Filing Table of Contents

This ‘4’ Document is an XML Data File that may be rendered in various formats:

Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 4 — SEA’34
Filing Table of Contents