XNYS:LF Leapfrog Enterprises Inc Insider Activity 4 Filing - 2/13/2012

Effective Date 2/13/2012

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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
CAMPBELL WILLIAM K
  2. Issuer Name and Ticker or Trading Symbol
LEAPFROG ENTERPRISES INC [LF]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President of Sales & Marketing
(Last)
(First)
(Middle)
LEAPFROG ENTERPRISES, INC., 6401 HOLLIS STREET
3. Date of Earliest Transaction (Month/Day/Year)
02/13/2012
(Street)

EMERYVILLE, CA 94608
4. If Amendment, Date 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
(City)
(State)
(Zip)
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
Class A Common Stock 02/13/2012   S   20,000 D $7(1) 50,331 D  
Class A Common Stock 02/13/2012   M   19,224 A $3.79 69,555 D  
Class A Common Stock 02/13/2012   S   19,224 D $7(1) 50,331 D  
Class A Common Stock 02/15/2012   M   3,125 A $ 0 53,456 D  
Class A Common Stock 02/15/2012   F   1,146 D $7.61 52,310 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities
(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 of Derivative Security: 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
Non-qualified Stock Option (right to buy) $3.79 02/13/2012   M     1,883   (2) 02/12/2013 Class A Common 1,883 $ 0 0 D  
Non-qualified Stock Option (right to buy) $3.79 02/13/2012   M     903   (2) 05/19/2014 Class A Common 903 $ 0 0 D  
Non-qualified Stock Option (right to buy) $3.79 02/13/2012   M     10,944   (2) 10/30/2016 Class A Common 10,944 $ 0 0 D  
Non-qualified Stock Option (right to buy) $3.79 02/13/2012   M     4,907   (2) 03/15/2017 Class A Common 4,907 $ 0 0 D  
Non-qualified Stock Option (right to buy) $3.79 02/13/2012   M     587   (2) 04/08/2012 Class A Common 587 $ 0 0 D  
Restricted Stock Unit (right to acquire) $ 0 02/15/2012   M     3,125   (3) 03/15/2012 Class A Common 3,125 $ 0 3,125 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
CAMPBELL WILLIAM K
LEAPFROG ENTERPRISES, INC.
6401 HOLLIS STREET
EMERYVILLE, CA 94608
      President of Sales & Marketing  

Signatures

 Robert Lattuga, Attorney-in-Fact on behalf of William K. Campbell   02/15/2012
** Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) This transaction was executed in multiple trades during the day at prices ranging from $7.0001 to $7.005. The price reported above reflects the weighted-average sales price. The Reporting Person will provide upon request, to the SEC staff, the issuer or security holder of the issuer, full information regarding the number of shares purchased at each separate price.
(2) The options were 100% vested on date of grant.
(3) Granted 3/15/2010 under the Issuer's 2002 Equity Incentive Plan. The restricted stock units will vest as to 50% on 3/15/2011 and will vest thereafter in 12 equal monthly installments.

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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XNYS:LF Leapfrog Enterprises Inc Insider Activity 4 Filling

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XNYS:LF Leapfrog Enterprises Inc Insider Activity 4 Filing - 2/13/2012
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