AIRSPAN NETWORKS INC - 3 filing on 2007-05-30

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Senior Paul

(Last)

(First)

(Middle)

CAMBRIDGE HOUSE, OXFORD ROAD

(Street)

UXBRIDGE, MIDDLESEX

UB81UN

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/10/2007

3. Issuer Name and Ticker or Trading Symbol
AIRSPAN NETWORKS INC [ AIRN ]

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

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
Officer of sub. of issuer

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	3,925⁽¹⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock Option	03/10/2001⁽²⁾	03/10/2010	Common Stock	10,000	7.5	D
Common Stock Option	05/24/2005⁽²⁾	05/24/2014	Common Stock	20,000	5.08	D
Common Stock Option	01/28/2006⁽²⁾	01/28/2015	Common Stock	14,167	4.12	D
Common Stock Option	10/28/2006⁽²⁾	10/28/2015	Common Stock	60,000	4.94	D
Common Stock Option	01/27/2007⁽²⁾	01/27/2016	Common Stock	20,000	6.15	D
Common Stock Option	09/12/2007⁽²⁾	09/12/2016	Common Stock	40,000	2.8	D
Common Stock Option	03/02/2008⁽²⁾	03/02/2017	Common Stock	20,000	4.28	D

Explanation of Responses:

1. Restricted Stock: 40% of grant vests over time with 25% of such amount vesting in 18 months, an additional 25% vesting in 30 months and the balance of such amount vesting in 48 months. The balance of the grant is a performance based grant that vests upon the occurrence of certain objective financial milestones.

2. Stated date is the vesting date for 25% of the shares granted to reporting person; an additional 1/48th of such shares vest on each month thereafter.

	Christopher H. Cunningham, Attorney in Fact	05/30/2007
	** 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 5 (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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