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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1. Name and Address of Reporting Person * Wallace Bruce   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 Digital Officer (Last) (First) (Middle) 3005 TASMAN DRIVE 3. Date of Earliest Transaction (Month/Day/Year) 04/30/2016 (Street) SANTA CLARA, CA 95054 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) Code V Amount (A) or (D) Price Common Stock 04/30/2016   M   650 A (1) 10,691 D   Common Stock 05/01/2016   M   400 A (1) 11,091 D   Common Stock 05/01/2016   M   293 A (1) 11,384 D   Common Stock 05/02/2016   M   2,200 A $ 64.37 13,584 D   Common Stock 05/02/2016   M   1,200 A $ 71.11 14,784 D   Common Stock 05/02/2016   S   3,400 D $ 105.1795 (2) 11,384 D   Common Stock 05/02/2016   F   507 (3) D $ 105.18 10,877 D   Common Stock               304 I By 401(k)/ESOP

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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

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Restricted Stock Unit

$ 0

05/01/2016

M

400

05/01/2013

05/01/2019

Common Stock

400

(1)

0

D

Stock Option

$ 64.37

05/02/2016

M

2,200

05/01/2013

05/01/2019

Common Stock

2,200

$ 64.37

2,300

D

Stock Option

$ 71.11

05/02/2016

M

1,200

04/30/2014

04/30/2020

Common Stock

1,200

$ 71.11

3,500

D

Restricted Stock Unit

$ 0

04/30/2016

M

650

04/30/2014

04/30/2020

Common Stock

650

(1)

650

D

Restricted Stock Unit

$ 0

05/01/2016

M

293

05/01/2016

05/01/2022

Common Stock

293

(1)

878

D

Performance Restricted Stock Unit

$ 0

02/16/2016

A

V

4,837 (4)

01/30/2019

02/16/2023

Common Stock

4,837

(5)

4,837

D

Restricted Stock Unit

$ 0

05/02/2016

A

1,415 (6)

05/02/2017

05/02/2023

Common Stock

1,415

(1)

1,415

D

Stock Option

$ 105.18

05/02/2016

A

4,829 (7)

05/02/2017

05/02/2023

Common Stock

4,829

$ 105.18

4,829

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Wallace Bruce 3005 TASMAN DRIVE SANTA CLARA, CA 95054			Chief Digital Officer

Signatures

Denise West, Attorney-in-Fact for Bruce Wallace		05/04/2016
**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)	Each restricted stock unit represents a contingent right to receive one share of the Issuer's common Stock.
(2)	The 3,400 shares were sold through separate trades, with the sale prices ranging from $105.00 to $105.5011 and at a weighted average sale price of $105.1795.
(3)	Shares withheld by Issuer for payment of tax liability incurred upon vesting of restricted stock units.
(4)	Performance-based restricted stock units (PRSUs) are subject to both performance-based and time-based vesting. The extent to which the PRSU awards are earned will be based on the Company's performance for calendar years 2016-2018 and other considerations, as determined pursuant to the discretion of the Compensation Committee and the 162m Committee. The reported number of shares is the maximum number of shares that may be earned by the reporting person, based on the achievement of 150% of target performance. To the extent deemed earned at the end of the three-year performance period, these PRSUs will be subject to additional time-based vesting and will vest on January 30, 2019.
(5)	Each performance-based restricted stock unit represents a contingent right to receive one share of the Issuer's common Stock.
(6)	Restricted stock units are subject to annual vesting in equal installments on May 2, 2017, May 2, 2018, May 2, 2019, and May 2, 2020.
(7)	The grant of stock options is subject to annual vesting in four equal installments on the anniversary date of the grant, 25% on each of the successive anniversary dates. The exercise price of the stock options is determined based on the closing price of SVB's common stock on the date of grant.

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