SEC Form 4
FORM 4

[ ] Check this box if no longer
subject to Section 16. Form 4 or Form
5 obligations may continue.
See Instruction 1(b).

(Print or Type Responses)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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1. Name and Address of Reporting Person*
O'Reilly, Dennis     E.

(Last)                      (First)                      (Middle)
4311 Jamboree Road


(Street)
Newport Beach, CA     92660

(City)                      (State)                      (Zip)
USA
2. Issuer Name and Ticker or Trading Symbol

Conexant Systems, Inc.   CNXT
6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

                        Director                           10% Owner
           X          Officer                             Other
          Sr. Vice President, General Counsel, Secretary and Chief Compliance Officer

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

X   Form filed by One Reporting Person
      Form filed by More than One Reporting Person
3. I.R.S. Identification
    Number of Reporting
    Person, if an entity
    (voluntary)
4. Statement for
    Month/Day/Year

    March 03, 2003


5. If Amendment,
    Date of Original
    (Month/Day/Year)
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
    and
    Voluntary
    Code
    (Instr. 8)



Code  |  V    
4. Securities Acquired (A) or Disposed (D) Of
    (Instr. 3, 4, and 5)





        Amount      |         A/D         |         Price          
5. Amount of
    Securities
    Beneficially
    Owned
    Following
    Reported
Transaction(s)

    (Instr. 3 and 4)
6. Owner-
    ship
    Form:
    Direct(D)
    or
    Indirect (I)

    (Instr. 4)
7. Nature of
     Indirect
     Beneficial
     Ownership

    (Instr. 4)
Common Stock
02/28/2003

   A | V  
1,000(1)   |           A           |   $1.1985    
91,852
D

Common Stock




1,736
I
By Savings Plan (2)








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).

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.
(over)
SEC 1474 (9-02)

O'Reilly, Dennis E. - March 03, 2003
Form 4 (continued)
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. Conver-
    sion or
    Exercise
    Price of
    Deri-
    vative
    Security
3. Transaction
    Date

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

      (Month/
      Day/
      Year)
4. Transaction
    Code
    and
    Voluntary (V)
    Code
    (Instr.8)



Code | V    
5. Number of Derivative
    Securities Acquired (A)
    or Disposed (D) Of

    (Instr. 3,4 and 5)
6. Date Exercisable(DE) and
    Expiration Date(ED)
    (Month/Day/Year)






  (DE)     |     (ED)  
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
    Transactions
    (Instr.4)
10.
Owner-
ship
Form of
Deriv-
ative
Security:
Direct
(D)
or
Indirect
(I)
(Instr.4)
11. Nature of
      Indirect
      Beneficial
      Ownership
      (Instr.4)
Common Stock Share Equivalents - CNXT (3)
$0.0000



(3) | (3)
Common Stock - 34
34
D

Stock Option (Right to Buy)
$3.4000




Common Stock - 237,400
237,400
D

Stock Option (Right to Buy)
$3.2306




Common Stock - 111,436
111,436
D

Stock Option (Right to Buy)
$7.9069




Common Stock - 18,858
18,858
D

Stock Option (Right to Buy)
$3.2306




Common Stock - 33,564
33,564
D

Stock Option (Right to Buy)
$4.2327




Common Stock - 200,000
200,000
D

Stock Option (Right to Buy)
$1.7400




Common Stock - 100,000
100,000
D













Explanation of Responses :


** 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.

Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB number.
By: Jasmina Theodore Boulanger, Attorney-in-fact                   03-03-2003    
** Signature of Reporting Person                         Date


Power of Attorney

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O'Reilly, Dennis E. - March 03, 2003
Form 4 (continued)
FOOTNOTE Descriptions for Conexant Systems, Inc. CNXT

Form 4 - March 2003

Dennis E. O'Reilly
4311 Jamboree Road

Newport Beach, CA 92660

Explanation of responses:

(1)   Shares acquired pursuant to the Conexant Systems, Inc. 2001 Employee Stock Purchase Plan.
(2)   Shares represented by Company stock fund units under the Conexant Systems, Inc. Savings Plan which were acquired on a periodic basis pursuant to the Plan, based on the latest information furnished by the Plan Administrator. The shares represented by Company stock fund units under the Plan are held in the employee benefit plan trust established thereunder.
(3)   Share equivalents credited under one or more Conexant Systems, Inc. supplemental savings plans, the value (based on market value at or near the time of payment) of which is payable in cash upon retirement or after termination of employment. This information is based on the latest information furnished by the Plan Administrator.
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