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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1. Name and Address of Reporting Person * JENKINS STARK JOHN F   2. Issuer Name and Ticker or Trading Symbol SVB FINANCIAL GROUP [SIVB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) CFO (Last) (First) (Middle) 3003 TASMAN DRIVE 3. Date of Earliest Transaction (Month/Day/Year) 12/01/2006 (Street) SANTA CLARA, CA 95054 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 Common Stock 12/01/2006   M(1)   19,374 A $ 35.54 22,352 D   Common Stock 12/01/2006   S(1)   19,374 D $ 46.657 2,978 D   Common Stock 12/01/2006   M(1)   5,626 A $ 35.54 8,604 D   Common Stock 12/01/2006   S(1)   5,626 D $ 46.657 2,978 D   Common Stock 12/01/2006   J(2)   7,500 A $ 47.09 10,478 D   Common Stock 12/01/2006   J(3)   3,431 D $ 47.09 7,047 D   Common Stock 12/01/2006   S(1)   2,000 D $ 46.657 5,047 D   Common Stock               293 I By self in 401k/ESOP Common Stock               3,806 I By self restricted

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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

Incentive Stock Option (right to buy)

$ 35.54

12/01/2006

M(1)

5,626

04/23/2005(4)

04/23/2011

Common Stock

5,626

$ 46.657

5,626

D

Non-Qualified Stock Option (right to buy)

$ 35.54

12/01/2006

M(1)

19,374

04/23/2005(4)

04/23/2011

Common Stock

19,374

$ 46.657

19,374

D

Restricted Stock Unit

$ 0

12/01/2006

J(2)

7,500

12/01/2006

12/01/2007

Common Stock

7,500

$ 47.09

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
JENKINS STARK JOHN F 3003 TASMAN DRIVE SANTA CLARA, CA 95054			CFO

Signatures

By: Lisa Bertolet as attorney in fact For: John F. Jenkins-Stark		12/04/2006
**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)	The sale reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person as of November 15, 2006.
(2)	The reporting person was granted restricted stock units (RSUs), as previously reported, which have now fully vested and been released.
(3)	The reporting person surrendered company stock to pay for taxes associated with the vesting of a previously reported restricted stock unit.
(4)	Stock options were granted to the reporting person. Vesting will occur annually from the date of grant over 4 years with 25% vesting each year.

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