<SUBMISSION>
<ACCESSION-NUMBER>0001179110-03-009398
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20031024
<FILING-DATE>20031028
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>NESLUND RICHARD A
<CIK>0001268215
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-28452
<FILM-NUMBER>03961154
</FILING-VALUES>
<MAIL-ADDRESS>
<STREET1>15210 WAYZATA BLVD
<CITY>WAYZATA
<STATE>MN
<ZIP>55391
</MAIL-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>VELOCITY EXPRESS CORP
<CIK>0001002902
<ASSIGNED-SIC>4513
<IRS-NUMBER>870355929
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0629
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>7803 GLENROY ROAD
<STREET2>FOUR PARAMOUNT PLAZA STE 200
<CITY>MINNEAPOLIS
<STATE>MN
<ZIP>55439
<PHONE>612-492-2400
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>7803 GLENROY ROAD
<STREET2>SUITE 200
<CITY>MINNEAPOLIS
<STATE>MN
<ZIP>55439
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>UNITED SHIPPING & TECHNOLOGY INC
<DATE-CHANGED>19990512
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>U SHIP INC
<DATE-CHANGED>19960313
</FORMER-COMPANY>
</ISSUER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-10-24</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001002902</issuerCik>
        <issuerName>VELOCITY EXPRESS CORP</issuerName>
        <issuerTradingSymbol>VEXP</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001268215</rptOwnerCik>
            <rptOwnerName>NESLUND RICHARD A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>15210 WAYZATA BLVD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WAYZATA</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55391</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector>
<isOfficer>0</isOfficer>
<isTenPercentOwner>1</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle></officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Series I Preferred Stock</value>
</securityTitle>
<transactionDate><value>2003-10-24</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>P</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>833333</value>
</transactionShares>
<transactionPricePerShare><value>1.50</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>833333</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
</nonDerivativeTable>
<derivativeTable><derivativeTransaction><securityTitle><value>Series F Convertible Preferred Stock</value>
<footnoteId id="F3"></footnoteId>
</securityTitle>
<conversionOrExercisePrice><footnoteId id="F1"></footnoteId>
</conversionOrExercisePrice>
<transactionDate><value>2003-10-24</value>
</transactionDate>
<transactionCoding><transactionFormType>5</transactionFormType>
<transactionCode>P</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionTimeliness><value>E</value>
</transactionTimeliness>
<transactionAmounts><transactionShares><value>1399709</value>
</transactionShares>
<transactionPricePerShare><footnoteId id="F2"></footnoteId>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>2003-10-24</value>
</exerciseDate>
<expirationDate><footnoteId id="F2"></footnoteId>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>2544654</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>195453</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
<derivativeTransaction><securityTitle><value>Series H Convertible Preferred Stock</value>
<footnoteId id="F5"></footnoteId>
</securityTitle>
<conversionOrExercisePrice><footnoteId id="F4"></footnoteId>
</conversionOrExercisePrice>
<transactionDate><value>2004-10-24</value>
</transactionDate>
<transactionCoding><transactionFormType>5</transactionFormType>
<transactionCode>P</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionTimeliness><value>E</value>
</transactionTimeliness>
<transactionAmounts><transactionShares><value>611111</value>
</transactionShares>
<transactionPricePerShare><value>10</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>2004-10-24</value>
</exerciseDate>
<expirationDate><footnoteId id="F2"></footnoteId>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>1111111</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>50000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
</derivativeTable>
<footnotes><footnote id="F1">5-for-1</footnote>
<footnote id="F2">None</footnote>
<footnote id="F3">As a result of the issuance of warrants to purchase Common Stock issued to purchasers of Series I Convertible Preferred Stock, the number of shares of Common Stock into which the Shares of Seires F Convertible Preferred Stock are convertible upon exercise of such preferred stock increased pursuant to antidilution provisions in the preferred instrument.</footnote>
<footnote id="F4">10-for-1</footnote>
<footnote id="F5">As a result of the issuance of warrants to purchase Common Stock issued to purchasers of Series I Convertible Preferred Stock, the number of shares of Common Stock into which the Shares of Seires H Convertible Preferred Stock are convertible upon exercise of such preferred stock increased pursuant to antidilution provisions in the preferred instrument.</footnote>
</footnotes>
<ownerSignature><signatureName>M W Schley AIF R A Neslund</signatureName>
<signatureDate>2003-10-27</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
