-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Pclo/1XdNWTvLpiIHIpy+xdHK27iY6ByASryoBzz+esPAYg9y8EulqHfcbV97+YY
 T7JUmsCXsz/EDlBZUslddQ==

<SEC-DOCUMENT>0001181431-03-033498.txt : 20031201
<SEC-HEADER>0001181431-03-033498.hdr.sgml : 20031201
<ACCEPTANCE-DATETIME>20031201181521
ACCESSION NUMBER:		0001181431-03-033498
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031126
FILED AS OF DATE:		20031201

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HSIEH DOUGLAS
		CENTRAL INDEX KEY:			0001260720

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28452
		FILM NUMBER:		031030931

	MAIL ADDRESS:	
		STREET 1:		200 MADISON AVE STE 1900
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VELOCITY EXPRESS CORP
		CENTRAL INDEX KEY:			0001002902
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR COURIER SERVICES [4513]
		IRS NUMBER:				870355929
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0629

	BUSINESS ADDRESS:	
		STREET 1:		7803 GLENROY ROAD
		STREET 2:		FOUR PARAMOUNT PLAZA STE 200
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55439
		BUSINESS PHONE:		612-492-2400

	MAIL ADDRESS:	
		STREET 1:		7803 GLENROY ROAD
		STREET 2:		SUITE 200
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55439

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED SHIPPING & TECHNOLOGY INC
		DATE OF NAME CHANGE:	19990512

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	U SHIP INC
		DATE OF NAME CHANGE:	19960313
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd24261.xml
<DESCRIPTION>HSIEH FORM 4 112603
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-11-26</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001002902</issuerCik>
        <issuerName>VELOCITY EXPRESS CORP</issuerName>
        <issuerTradingSymbol>VEXP</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001260720</rptOwnerCik>
            <rptOwnerName>HSIEH DOUGLAS</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>200 MADISON AVENUE, SUITE 1900</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10016</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>1</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><derivativeTable><derivativeHolding><securityTitle><value>Series B Convertible Preferred Stock</value></securityTitle><conversionOrExercisePrice><footnoteId id="F4"/></conversionOrExercisePrice><exerciseDate><value>2000-05-31</value></exerciseDate><expirationDate><footnoteId id="F5"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>13796699</value><footnoteId id="F2"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>2806797</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>See note</value><footnoteId id="F1"/></natureOfOwnership></ownershipNature></derivativeHolding><d
erivativeHolding><securityTitle><value>Series C Convertible Preferred Stock</value></securityTitle><conversionOrExercisePrice><footnoteId id="F4"/></conversionOrExercisePrice><exerciseDate><value>2000-09-22</value></exerciseDate><expirationDate><footnoteId id="F5"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>6811640</value><footnoteId id="F2"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>2000000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>See note</value><footnoteId id="F1"/></natureOfOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Series D Convertible Preferred Stock</value></securityTitle><conversionOrExercisePrice><footnoteId id="F4"/></conversionOrExercisePrice><
exerciseDate><value>2001-09-05</value></exerciseDate><expirationDate><footnoteId id="F5"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>8421324</value><footnoteId id="F2"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>1017538</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>See note</value><footnoteId id="F1"/></natureOfOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Series G Convertible Preferred Stock</value></securityTitle><conversionOrExercisePrice><footnoteId id="F4"/></conversionOrExercisePrice><exerciseDate><value>2003-09-18</value></exerciseDate><expirationDate><footnoteId id="F5"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</val
ue></underlyingSecurityTitle><underlyingSecurityShares><value>2361830</value><footnoteId id="F2"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>3333333</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>See note</value><footnoteId id="F1"/></natureOfOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Series H Convertible Preferred Stock</value></securityTitle><conversionOrExercisePrice><footnoteId id="F4"/></conversionOrExercisePrice><exerciseDate><value>2003-09-18</value></exerciseDate><expirationDate><footnoteId id="F5"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>5732167</value><footnoteId id="F2"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><share
sOwnedFollowingTransaction><value>196900</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>See note</value><footnoteId id="F1"/></natureOfOwnership></ownershipNature></derivativeHolding><derivativeTransaction><securityTitle><value>Series I Convertible Preferred Stock</value></securityTitle><conversionOrExercisePrice><value>0.15</value></conversionOrExercisePrice><transactionDate><value>2003-11-26</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>P</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>3733333</value></transactionShares><transactionPricePerShare><value>1.50</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><footnoteId id="F3"/></exerciseDate>
<expirationDate><footnoteId id="F5"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>92877680</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>9287768</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>See note</value><footnoteId id="F1"/></natureOfOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">The securities reported on this Form 4 are directly held by one or more of the following entities related to TH Lee Putnam Ventures LP:  TH Lee Putnam Ventures, L.P. (f/k/a TH Lee.Putnam Internet Partners, L.P.), TH Lee Putnam Parallel Ventures, L.P. (f/k/a TH Lee.Putnam Internet Parallel Partners, L.P.), THLi Coinvestment Partners, LLC and Blue Star I, LLC, collectively "T
HLPV."</footnote><footnote id="F2">As a result of the issuance Series I Convertible Preferred Stock, the number of shares of Common Stock into which the shares of Series B, Series C, Series D, Series G and Series H Convertible Preferred Stock are convertible upon exercise of such series of Convertible Preferred Stock increased pursuant to antidilution provisions in the preferred instruments.</footnote><footnote id="F3">Conversion of the Series I Convertible Preferred Stock into Common Stock requires shareholder approval.</footnote><footnote id="F4">Not applicable</footnote><footnote id="F5">None</footnote></footnotes><ownerSignature><signatureName>Douglas Hsieh</signatureName><signatureDate>2003-12-01</signatureDate></ownerSignature></ownershipDocument>



</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
