Ownership Submission
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 *
KRZYWICKI JAMES S
  2. Issuer Name and Ticker or Trading Symbol
SKILLSOFT PUBLIC LIMITED CO [SKIL]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
29 MORTON STREET
3. Date of Earliest Transaction (Month/Day/Year)
05/26/2010
(Street)

ANDOVER, MA 01810
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

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
Option to Purchase Ordinary Shares (1) $ 27.81 05/26/2010   D     25,000   (2) 04/17/2011 Ordinary Shares (1) 25,000 (2) 0 D  
Option to Purchase Ordinary Shares (1) $ 24.8 05/26/2010   D     10,000   (3) 01/01/2012 Ordinary Shares (1) 10,000 (3) 0 D  
Option to Purchase Ordinary Shares (1) $ 8.65 05/26/2010   D     10,000   (4) 01/01/2014 Ordinary Shares (1) 10,000 (4) 0 D  
Option to Purchase Ordinary Shares (1) $ 6.21 05/26/2010   D     10,000   (5) 01/01/2017 Ordinary Shares (1) 10,000 (5) 0 D  
Option to Purchase Ordinary Shares (1) $ 9.56 05/26/2010   D     20,000   (6) 01/01/2018 Ordinary Shares (1) 20,000 (6) 0 D  
Option to Purchase Ordinary Shares (1) $ 7.14 05/26/2010   D     20,000   (7) 01/01/2019 Ordinary Shares (1) 20,000 (7) 0 D  
Option to Purchase Ordinary Shares (1) $ 10.48 05/26/2010   D     20,000   (8) 01/01/2020 Ordinary Shares (1) 20,000 (8) 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
KRZYWICKI JAMES S
29 MORTON STREET
ANDOVER, MA 01810
  X      

Signatures

 /s/Greg Porto (for James Krzywicki)   05/27/2010
**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 issued and outstanding Ordinary Share of the issuer, or option to purchase an ordinary share of the issuer, is represented by one ADS.
(2) This option was 100% vested on 4/17/05. Pursuant to the terms of the Transaction Agreement, this option, the exercise price of which exceeds the transaction consideration of $11.25 per share, was cancelled with no consideration paid to the Reporting Person.
(3) This option was 100% fully vested on 1/1/06. Pursuant to the terms of the Transaction Agreement, this option, the exercise price of which exceeds the transaction consideration of $11.25 per share, was cancelled with no consideration paid to the Reporting Person.
(4) This option, which was 100% vested on 1/1/08, was cancelled pursuant to the Transaction Agreement, in exchange for a cash payment of $26,000.00 representing the difference between the exercise price of the option and the consideration of $11.25 per share paid pursuant to the Transaction Agreement, subject to applicable tax withholding.
(5) This option, which was 100% vested on 1/1/08, was cancelled pursuant to the Transaction Agreement, in exchange for a cash payment of $50,400.00 representing the difference between the exercise price of the option and the consideration of $11.25 per share paid pursuant to the Transaction Agreement, subject to applicable tax withholding.
(6) This option, which was 100% vested on 1/1/09, was cancelled pursuant to the Transaction Agreement, in exchange for a cash payment of $33,800.00 representing the difference between the exercise price of the option and the consideration of $11.25 per share paid pursuant to the Transaction Agreement, subject to applicable tax withholding.
(7) This option, which was 100% vested on 1/1/10, was cancelled pursuant to the Transaction Agreement, in exchange for a cash payment of $82,200.00 representing the difference between the exercise price of the option and the consideration of $11.25 per share paid pursuant to the Transaction Agreement, subject to applicable tax withholding.
(8) This option, which vests 100% on 1/1/11, was cancelled pursuant to the Transaction Agreement, in exchange for a cash payment of $15,400.00 representing the difference between the exercise price of the option and the consideration of $11.25 per share paid pursuant to the Transaction Agreement, subject to applicable tax withholding.

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