PIXELWORKS, INC — Director's Dealing 2007

May 23, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PIXELWORKS, INC (PXLW)
CIK: 0001040161
Period of Report: 2007-05-22

Reporting Person: Christensen Mark (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-22	Non-Qualified Stock Option (right to buy)	$1.38	A	10000	Acquired	2017-05-22	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	15000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Qualified Stock Option (right to buy)	$3	2016-05-23	Common Stock (10000)	10000	Direct
Non-Qualified Stock Option (right to buy)	$8.43	2015-05-24	Common Stock (40000)	40000	Direct

Footnotes

F1: 25% becomes exerciseable on the first anniversary of the date of grant, with the remaining 75% becoming exerciseable ratably on a monthly basis beginning the day after the first anniversary and ending on the fourth anniversary of the date of grant.

F2: The option becomes exercisable over a 4-year period which commenced on May 24, 2005, as follows: 10,000 shares exercisable as of May 24, 2006, 833.3 shares exercisable every month thereafter for 36 months through May 24, 2009.