Edgar Filing: SILICON GRAPHICS INC

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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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Monarch Alternative Capital LP

2. Issuer Name and Ticker or Trading Symbol
SILICON GRAPHICS INC [SGIC]

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

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

(Last)

(First)

(Middle)

535 MADISON AVENUE, 17TH FLOOR

3. Date of Earliest Transaction (Month/Day/Year)
08/27/2008

(Street)

NEW YORK, NY 10022

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

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ 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)
			Code	V	Amount	(A) or (D)	Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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

Stock Option (right to buy)

$ 18.03

08/27/2008

12,500

12/01/2007

11/30/2011

Common Stock

12,500

⁽²⁾

12,500

See footnote ⁽¹⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Monarch Alternative Capital LP 535 MADISON AVENUE 17TH FLOOR NEW YORK, NY 10022		X
Monarch Debt Recovery Master Fund Ltd 535 MADISON AVENUE 17TH FLOOR NEW YORK, NY 10022		X

Signatures

MONARCH ALTERNATIVE CAPITAL LP By: MDRA GP LP, its general partner, By: Monarch GP LLC, its general partner, By: /s/ Michael Weinstock, Managing Member		08/29/2008
^**Signature of Reporting Person		Date
MONARCH DEBT RECOVERY MASTER FUND LTD By: /s/ Michael Weinstock, Director		08/29/2008
^**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 securities reported herein are directly beneficially owned by certain funds (the "Funds") to which Monarch Alternative Capital LP ("MAC") acts as investment advisor. By reason of the provisions of Rule 16a-1 under the Securities Exchange Act of 1934, as amended, MAC may be deemed to be the beneficial owner of the securities beneficially owned by the Funds. MAC disclaims beneficial ownership of all such securities, except to the extent of any indirect pecuniary interest therein.
(2)	These stock options were granted to Chun Won Yi, an employee of MAC, on December 1, 2006 as compensation for his service on the board of directors of the issuer. The options vested on December 1, 2007.
Remarks: Exhibit List: Exhibit 99.1: Joint Filer Information - Monarch Debt Recovery Master Fund Ltd

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