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
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Husain Kamran 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)
Chief Accounting Officer
(Last)          (First)          (Middle)

3005 TASMAN DRIVE
3. Date of Earliest Transaction (MM/DD/YYYY)

11/10/2016
(Street)

SANTA CLARA, CA 95054
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   6/30/2016     A   V 214.00   (1) A $95.16   1187.00   D    
Common Stock   11/10/2016     M    308.00   A $107.98   1495.00   D    
Common Stock   11/10/2016     M    78.00   A $49.83   1573.00   D    
Common Stock   11/10/2016     M    672.00   A $64.37   2245.00   D    
Common Stock   11/10/2016     M    650.00   A $71.11   2895.00   D    
Common Stock   11/10/2016     M    94.00   A $60.37   2989.00   D    
Common Stock   11/10/2016     S    431.00   D $138.5655   (2) 2558.00   D    
Common Stock   11/10/2016     S    756.00   D $138.6989   (3) 1802.00   D    
Common Stock   11/10/2016     S    672.00   D $138.5654   (4) 1130.00   D    
Common Stock   11/10/2016     S    94.00   D $138.47   1036.00   D    
Common Stock   11/10/2016     S    650.00   D $138.4003   (5) 386.00   D    
Common Stock   11/10/2016     S    308.00   D $138.3384   (6) 78.00   D    
Common Stock   11/10/2016     S    78.00   D $138.29   0.00   D    
Common Stock   11/15/2016     M    300.00   A $107.98   300.00   D    
Common Stock   11/15/2016     S    300.00   D $148.62   0.00   D    
Common Stock                  304.00   (7) I   By 401(k)/ESOP  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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
Stock Option   $107.98   11/10/2016     M         308.00      (8) 4/29/2021   Common Stock   308.00   $0.00   1358.00   D    
Stock Option   $71.11   11/10/2016     M         650.00      (8) 4/30/2020   Common Stock   650.00   $0.00   550.00   D    
Stock Option   $64.37   11/10/2016     M         672.00      (8) 5/1/2019   Common Stock   672.00   $0.00   0.00   D    
Stock Option   $60.37   11/10/2016     M         94.00      (8) 4/27/2018   Common Stock   94.00   $0.00   0.00   D    
Stock Option   $49.83   11/10/2016     M         78.00      (8) 4/27/2017   Common Stock   78.00   $0.00   0.00   D    
Stock Option   $107.98   11/15/2016     M         300.00      (8) 4/29/2021   Common Stock   300.00   $0.00   1058.00   D    

Explanation of Responses:
( 1)  These shares were acquired under the Issuer's Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c).
( 2)  This transaction was executed in multiple trades at prices ranging from $138.48 USD to $138.61 USD; the price reported above reflects the weighted average sale price.
( 3)  This transaction was executed in multiple trades at prices ranging from $138.60 USD to $138.745 USD; the price reported above reflects the weighted average sale price.
( 4)  This transaction was executed in multiple trades at prices ranging from $138.43 USD to $138.61 USD; the price reported above reflects the weighted average sale price.
( 5)  This transaction was executed in multiple trades at prices ranging from $138.38 USD to $138.43 USD; the price reported above reflects the weighted average sale price.
( 6)  This transaction was executed in multiple trades at prices ranging from $138.30 USD to $138.38 USD; the price reported above reflects the weighted average sale price.
( 7)  The information in this report is based on 401(k)/ESOP Plan statement dated as of September 30, 2016.
( 8)  Stock options are subject to annual vesting in four equal installments on the anniversary date of the grant, 25% on each of the successive anniversary dates.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Husain Kamran F
3005 TASMAN DRIVE
SANTA CLARA, CA 95054


Chief Accounting Officer

Signatures
Denise West, Attorney-in-Fact for Kamran Husain 11/15/2016
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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