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 * BEST DEREK J   2. Issuer Name and Ticker or Trading Symbol SILICON STORAGE TECHNOLOGY INC [SSTI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Senior Vice President (Last) (First) (Middle) C/O 1171 SONORA COURT 3. Date of Earliest Transaction (Month/Day/Year) 05/23/2000 (Street) SUNNYVALE, CA 94086 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 05/23/2000   A   3,000 (2) A $ 27 70,500 D   Common Stock 07/16/2000   A   3,000 (2) A $ 20.875 73,500 D   Common Stock 09/19/2001   J   132,000 (1) D $ 4.757 356 D   Common Stock 11/21/2001   J   13,206 (1) D $ 10.351 356 D   Common Stock 09/05/2003   J   30,000 (1) D $ 8.178 356 D   Common Stock 08/12/2004   J   88,000 (1) D $ 4.834 356 D

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

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
BEST DEREK J C/O 1171 SONORA COURT SUNNYVALE, CA 94086			Senior Vice President

Signatures

Derek J. Best		12/15/2004
**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 Reporting Person is deemed to have disposed of beneficial ownership of these shares pursuant to Rule 13d-3(d)(1)(ii)(3) promulgated under the Securities Exchange Act of 1934, as amended, as a result of a pledge of such shares as collateral for a non-recourse loan at a 90% loan-to-value ratio. During the term of the non-recourse loan the Reporting Person has disposed of certain rights, inlcuding: (1) the right to vote the pledged shares and (ii) the right to dispose of or direct the disposition of the pledged shares. At maturity of the non-recourse loan transation, assuming the Reporting Person has repaid the loan in full with interest, full beneficial ownership of the pledged shares shall be reacquired by the Reporting Person. The non-recourse loan may be renewed or extended at the option of the Reporting Person.
(2)	Delinquent filing by the Reporting Person.

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