Edgar Filing: INSULET CORP

Ownership Submission

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 ^*

COLELLA SAMUEL D

2. Issuer Name and Ticker or Trading Symbol
INSULET CORP [PODD]

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

_____ Director	_____ 10% Owner
_____ Officer (give title below)	__X__ Other (specify below)
Former 10% Owner

(Last)

(First)

(Middle)

3000 SAND HILL ROAD, #4-210

3. Date of Earliest Transaction (Month/Day/Year)
05/14/2007

(Street)

MENLO PARK, CA 94025

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)
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	05/14/2007	05/14/2007	C		38,301	A	$ 0	38,301 ⁽¹⁾	I	Versant Side Fund I, L.P. ⁽²⁾
Common Stock	05/14/2007	05/14/2007	C		1,957,713	A	$ 0	1,957,713 ⁽¹⁾	I	Versant Venture Capital I, L.P. ⁽³⁾
Common Stock	05/14/2007	05/14/2007	C		42,557	A	$ 0	42,557 ⁽¹⁾	I	Versant Affiliates Fund I-A, L.P. ⁽⁴⁾
Common Stock	05/14/2007	05/14/2007	C		89,372	A	$ 0	89,372 ⁽¹⁾	I	Versant Affiliates Fund I-B, L.P. ⁽⁵⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	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 control number.		SEC 1474 (9-02)

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

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Series B Preferred Stock

⁽⁶⁾

05/14/2007

36,486

⁽⁶⁾

⁽⁷⁾

Common Stock

13,890 ⁽⁸⁾

$ 0

Versant Side Fund I, L.P. ⁽²⁾

Series B Preferred Stock

⁽⁶⁾

05/14/2007

1,864,865

⁽⁶⁾

⁽⁷⁾

Common Stock

709,964 ⁽⁸⁾

$ 0

Versant Venture Capital I, L.P. ⁽³⁾

Series B Preferred Stock

⁽⁶⁾

05/14/2007

40,541

⁽⁶⁾

⁽⁷⁾

Common Stock

15,434 ⁽⁸⁾

$ 0

Versant Affiliates Fund I-A, L.P. ⁽⁴⁾

Series B Preferred Stock

⁽⁶⁾

05/14/2007

85,135

⁽⁶⁾

⁽⁷⁾

Common Stock

32,411 ⁽⁸⁾

$ 0

Versant Affiliates Fund I-B, L.P. ⁽⁵⁾

Series C Preferred Stock

⁽⁶⁾

05/14/2007

34,286

⁽⁶⁾

⁽⁷⁾

Common Stock

13,052 ⁽⁸⁾

$ 0

Versant Side Fund I, L.P. ⁽²⁾

Series C Preferred Stock

⁽⁶⁾

05/14/2007

1,752,381

⁽⁶⁾

⁽⁷⁾

Common Stock

667,141 ⁽⁸⁾

$ 0

Versant Venture Capital I, L.P. ⁽³⁾

Series C Preferred Stock

⁽⁶⁾

05/14/2007

38,095

⁽⁶⁾

⁽⁷⁾

Common Stock

14,502 ⁽⁸⁾

$ 0

Versant Affiliates Fund I-A, L.P. ⁽⁴⁾

Series C Preferred Stock

⁽⁶⁾

05/14/2007

80,000

⁽⁶⁾

⁽⁷⁾

Common Stock

30,456 ⁽⁸⁾

$ 0

Versant Affiliates Fund I-B, L.P. ⁽⁵⁾

Series D Preferred Stock

⁽⁶⁾

05/14/2007

24,894

⁽⁶⁾

⁽⁷⁾

Common Stock

9,477 ⁽⁸⁾

$ 0

Versant Side Fund I, L.P. ⁽²⁾

Series D Preferred Stock

⁽⁶⁾

05/14/2007

1,272,337

⁽⁶⁾

⁽⁷⁾

Common Stock

484,386 ⁽⁸⁾

$ 0

Versant Venture Capital I, L.P. ⁽³⁾

Series D Preferred Stock

⁽⁶⁾

05/14/2007

27,660

⁽⁶⁾

⁽⁷⁾

Common Stock

10,530 ⁽⁸⁾

$ 0

Versant Affiliates Fund I-A, L.P. ⁽⁴⁾

Series D Preferred Stock

⁽⁶⁾

05/14/2007

58,085

⁽⁶⁾

⁽⁷⁾

Common Stock

22,113 ⁽⁸⁾

$ 0

Versant Affiliates Fund I-B, L.P. ⁽⁵⁾

Series E Preferred Stock

⁽⁶⁾

05/14/2007

4,945

⁽⁶⁾

⁽⁷⁾

Common Stock

1,882 ⁽⁸⁾

$ 0

Versant Side Fund I, L.P. ⁽²⁾

Series E Preferred Stock

⁽⁶⁾

05/14/2007

252,748

⁽⁶⁾

⁽⁷⁾

Common Stock

96,222 ⁽⁸⁾

$ 0

Versant Venture Capital I, L.P. ⁽³⁾

Series E Preferred Stock

⁽⁶⁾

05/14/2007

5,495

⁽⁶⁾

⁽⁷⁾

Common Stock

2,091 ⁽⁸⁾

$ 0

Versant Affiliates Fund I-A, L.P. ⁽⁴⁾

Series E Preferred Stock

⁽⁶⁾

05/14/2007

11,538

⁽⁶⁾

⁽⁷⁾

Common Stock

4,392 ⁽⁸⁾

$ 0

Versant Affiliates Fund I-B, L.P. ⁽⁵⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
COLELLA SAMUEL D 3000 SAND HILL ROAD, #4-210 MENLO PARK, CA 94025				Former 10% Owner

Signatures

/s/ Robin L. Praeger, Attorney-in-Fact		05/17/2007
^**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)	Each of the Reporting Persons disclaims beneficial ownership of the shares reported, except to the extent of their pecuniary interest therein.
(2)	The shares are owned by Versant Side Fund I, L.P., and Versant Ventures I, LLC is its general partner.
(3)	The shares are owned by Versant Venture Capital I, L.P., and Versant Ventures I, LLC is its general partner.
(4)	The shares are owned by Versant Affiliates Fund I-A, L.P., and Versant Ventures I, LLC is its general partner.
(5)	The shares are owned by Versant Affiliates Fund I-B, L.P., and Versant Ventures I, LLC is its general partner.
(6)	The Issuer's preferred stock automatically converted into Common Stock on a 1-for-2.6267 basis upon the closing of the Issuer's initial public offering.
(7)	The securities do not have an expiration date.
(8)	Reflects the reverse split of the Common Stock effective upon the closing of the Issuer's initial public offering.
Remarks: Samuel D. Colella is the only Reporting Person on this Form but he is a member of the joint reporting group with Versant Venture Capital I, L.P. as the designated filer.

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