Edgar Filing: SUNPOWER CORP

Ownership Submission

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

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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3235-0287

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

HERNANDEZ EMMANUEL T

2. Issuer Name and Ticker or Trading Symbol
SUNPOWER CORP [SPWR]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Chief Financial Officer

(Last)

(First)

(Middle)

3939 NORTH FIRST STREET

3. Date of Earliest Transaction (Month/Day/Year)
04/25/2008

(Street)

SAN JOSE, CA 95134

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	04/25/2008⁽¹⁾		M		25,000	A	$ 3.3	30,000	D
Class A Common Stock	04/25/2008⁽¹⁾		S		100	D	$ 87.3	29,900	D
Class A Common Stock	04/25/2008⁽¹⁾		S		200	D	$ 87.31	29,700	D
Class A Common Stock	04/25/2008⁽¹⁾		S		101	D	$ 87.32	29,599	D
Class A Common Stock	04/25/2008⁽¹⁾		S		100	D	$ 87.335	29,499	D
Class A Common Stock	04/25/2008⁽¹⁾		S		200	D	$ 87.3375	29,299	D
Class A Common Stock	04/25/2008⁽¹⁾		S		200	D	$ 87.34	29,099	D
Class A Common Stock	04/25/2008⁽¹⁾		S		100	D	$ 87.3475	28,999	D
Class A Common Stock	04/25/2008⁽¹⁾		S		985	D	$ 87.35	28,014	D
Class A Common Stock	04/25/2008⁽¹⁾		S		215	D	$ 87.36	27,799	D
Class A Common Stock	04/25/2008⁽¹⁾		S		1,599	D	$ 87.37	26,200	D
Class A Common Stock	04/25/2008⁽¹⁾		S		522	D	$ 87.375	25,678	D
Class A Common Stock	04/25/2008⁽¹⁾		S		2,701	D	$ 87.38	22,977	D
Class A Common Stock	04/25/2008⁽¹⁾		S		300	D	$ 87.385	22,677	D
Class A Common Stock	04/25/2008⁽¹⁾		S		200	D	$ 87.3875	22,477	D
Class A Common Stock	04/25/2008⁽¹⁾		S		358	D	$ 87.39	22,119	D
Class A Common Stock	04/25/2008⁽¹⁾		S		200	D	$ 87.395	21,919	D
Class A Common Stock	04/25/2008⁽¹⁾		S		100	D	$ 87.405	21,819	D
Class A Common Stock	04/25/2008⁽¹⁾		S		200	D	$ 87.4075	21,619	D
Class A Common Stock	04/25/2008⁽¹⁾		S		100	D	$ 87.41	21,519	D
Class A Common Stock	04/25/2008⁽¹⁾		S		100	D	$ 87.415	21,419	D
Class A Common Stock	04/25/2008⁽¹⁾		S		1,964	D	$ 87.43	19,455	D
Class A Common Stock	04/25/2008⁽¹⁾		S		100	D	$ 87.435	19,355	D
Class A Common Stock	04/25/2008⁽¹⁾		S		100	D	$ 87.4375	19,255	D
Class A Common Stock	04/25/2008⁽¹⁾		S		559	D	$ 87.44	18,696	D
Class A Common Stock	04/25/2008⁽¹⁾		S		240	D	$ 87.45	18,456	D
Class A Common Stock	04/25/2008⁽¹⁾		S		100	D	$ 87.4575	18,356	D
Class A Common Stock	04/25/2008⁽¹⁾		S		600	D	$ 87.46	17,756	D
Class A Common Stock	04/25/2008⁽¹⁾		S		700	D	$ 87.47	17,056	D
Class A Common Stock	04/25/2008⁽¹⁾		S		729	D	$ 87.48	16,327	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	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.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction 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
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(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

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (Right to Buy)

$ 3.3

04/25/2008

25,000

⁽¹⁾⁽²⁾

04/25/2015

Class A Common Stock

25,000

$ 0

101,738

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
HERNANDEZ EMMANUEL T 3939 NORTH FIRST STREET SAN JOSE, CA 95134			Chief Financial Officer

Signatures

/s/ Magali Salomon, Attorney-in-Fact		04/29/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	The sales reported on this Form 4 were effected pursuant to a previously adopted rule 10b-5-1 trading plan by the reporting person.
(2)	The option became exercisable as to 1/36 of the underlying shares on May 25, 2005 and as to an additional 1/36 of the underlying shares monthly thereafter.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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