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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(Print or Type Responses)

1. Name and Address of Reporting Person * Cox Philip C   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 _____ Officer (give title below) _____ Other (specify below) Head EMEA India & President,UK (Last) (First) (Middle) 3005 TASMAN DRIVE 3. Date of Earliest Transaction (Month/Day/Year) 08/01/2017 (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 06/30/2017   A V 76 (1) A $ 146.302 2,872 D   Common Stock 08/01/2017   M   906 A $ 105.18 3,778 D   Common Stock 08/01/2017   M   1,175 A $ 71.11 4,953 D   Common Stock 08/01/2017   M   356 A $ 129.81 5,309 D   Common Stock 08/01/2017   M   272 A $ 129.81 5,581 D   Common Stock 08/01/2017   M   857 A $ 107.98 6,438 D   Common Stock 08/01/2017   S   797 D $ 182.8125 (2) 5,641 D   Common Stock 08/01/2017   S   709 D $ 182.74 4,932 D   Common Stock 08/01/2017   S   912 D $ 182.81 4,020 D   Common Stock 08/01/2017   S   306 D $ 182.7434 (3) 3,714 D   Common Stock 08/01/2017   S   300 D $ 182.955 (4) 3,414 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

Stock Option

$ 129.81

08/01/2017

M

356

(5)

05/01/2022

Common Stock

356

$ 0

710

D

Stock Option

$ 129.81

08/01/2017

M

272

(5)

05/01/2022

Common Stock

272

$ 0

543

D

Stock Option

$ 107.98

08/01/2017

M

857

(6)

04/29/2021

Common Stock

857

$ 0

857

D

Stock Option

$ 105.18

08/01/2017

M

906

(7)

05/02/2023

Common Stock

906

$ 0

2,716

D

Stock Option

$ 71.11

08/01/2017

M

1,175

(8)

04/30/2020

Common Stock

1,175

$ 0

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Cox Philip C 3005 TASMAN DRIVE SANTA CLARA, CA 95054			Head EMEA India & President,UK

Signatures

Denise West, Attorney-in-Fact for Philip Cox		08/03/2017
**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)	These shares were acquired under the Issuer's Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c).
(2)	This transaction was executed in multiple trades at prices ranging from $182.81 USD to $182.815 USD; the price reported above reflects the weighted average sale price.
(3)	This transaction was executed in multiple trades at prices ranging from $182.74 USD to $182.81 USD; the price reported above reflects the weighted average sale price.
(4)	This transaction was executed in multiple trades at prices ranging from $182.91 USD to $183.00 USD; the price reported above reflects the weighted average sale price.
(5)	25%/4yr beginning on 01-May-2016.
(6)	25%/4yr beginning on 29-Apr-2015.
(7)	25%/4yr beginning on 02-May-2017.
(8)	25%/4yr beginning on 30-Apr-2014.

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