JABIL INC — Director's Dealing 2011

Apr 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JABIL CIRCUIT INC (JBL)
CIK: 0000898293
Period of Report: 2011-04-01

Reporting Person: MOREAN WILLIAM D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-01	Common Stock	M	14000.0000	$15.0000	Acquired	3649133.0000	Direct
2011-04-01	Common Stock	M	7000.0000	$12.9500	Acquired	3656133.0000	Direct
2011-04-01	Common Stock	S	21000.0000	$20.1592	Disposed	3635133.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-01	Employee Stock Option (Right to Buy)	$15.0000	M	14000.0000	Disposed	2011-09-21	Common Stock (14000.0000)	Direct
2011-04-01	Non-Qualified Stock Option (Right to Buy)	$12.9500	M	7000.0000	Disposed	2012-10-17	Common Stock (7000.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	15912.0000	Indirect
Common Stock	129140.0000	Indirect
Common Stock	79935.0000	Indirect
Common Stock	10562502.0000	Indirect

Footnotes

F1: The transactions reflected on this line were executed in multiple trades at prices ranging from $20.1500 to $20.1710. The price reported above reflects the weighted average sale price for the shares set forth on this line. The reporting person hereby undertakes to provide upon request by the SEC Staff, the Issuer or a security holder of the Issuer full information regarding the number of shares sold at each separate price.

F2: The reporting person disclaims beneficial ownership of the securities shown as being held by the reporting person's spouse, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

F3: Mr. Morean is a director of Eagle's Wing Foundation, a private charitable foundation, and may be deemed to have shared voting and dispositive power over shares held by the foundation. Mr. Morean disclaims beneficial ownership of these shares because he has no pecuniary interest therein.

F4: Mr. Morean is trustee of the William D. Morean Trust and has voting and dispositive power over the shares held by such trust.

F5: Mr. Morean is a member of a two-person management committee created under the William E. Morean Residual Trust and as such shares voting and dispositive power over shares held by the trust. Mr. Morean and his family members are beneficiaries of the trust.

F6: Options shall vest at the rate of 12% of the shares upon the expiration of six (6) months after the Vesting Commencement Date (9/21/01) and 2% of the shares at the end of each month thereafter provided that the optionee is a director of, or consultant to, the Company or a subsidiary.

F7: The derivative security is a stock option issued under the Issuer's 1992 Stock Option Plan. $0.00 has been inserted to satisfy the requirements to submit this form via the EDGAR system.

F8: Options shall vest at the rate of 12% of the shares upon the expiration of six (6) months after the Vesting Commencement Date (10/17/02) and 2% of the shares at the end of each month thereafter provided that the optionee is an employee of, or consultant (as defined in the relevant stock incentive plan) to, the Company or a subsidiary.

F9: The derivative security is a stock option issued under the Issuer's 2002 Stock Incentive Plan. $0.00 has been inserted to satisfy the requirements to submit this form via the EDGAR system.