CLEARONE INC — Director's Dealing 2004

Mar 26, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLEARONE COMMUNICATIONS INC (CLRO)
CIK: 0000840715
Period of Report: 2004-03-24

Reporting Person: KEOUGH MICHAEL (President and CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-24	Employee Stock Option (right to buy)	$6.40	A	60000	Acquired	2014-03-24	Common Stock (60000)	Direct

Footnotes

F1: One-third of the options granted will vest on the first anniversary of the stock option grant. The remaining options will vest in equal monthly increments over the subsequent twenty-four month period.