CLEARONE INC — Director's Dealing 2008

May 12, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLEARONE COMMUNICATIONS INC (CLRO)
CIK: 0000840715
Period of Report: 2008-05-09

Reporting Person: BAGLEY EDWARD D (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-05-09	COMMON STOCK	M	2083	$3.65	Acquired	1700217	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-05-09	COMMON STOCK OPTIONS	$3.65	M	2083	Disposed	2016-09-18	COMMON STOCK (2083)	Direct