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 *
Davis Charles Louis IV
   2. Issuer Name and Ticker or Trading Symbol
RigNet, Inc. [RNET] 		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)
C/O RIGNET, INC., 1880 S. DAIRY ASHFORD, SUITE 300		 3. Date of Earliest Transaction (Month/Day/Year)
12/20/2010
(Street)

HOUSTON, TX 77077		 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 12/20/2010   C   968,620 A $ 0 1,707,043 I (1)(2) (1) (2)
Common Stock 12/20/2010   S   251,721 (3) D $ 11.16 (4) 1,455,322 I (1) (1)
Common Stock 12/21/2010   X   113,575 (5) A $ 0.04 1,568,897 I (1) (1)
Common Stock               8,000 D  

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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
Series C Preferred (6) 12/20/2010   C     666,940   (6)   (6) Common Stock 968,620 (6) $ 0 0 I (1)(6) (1) (6)
Common Stock Warrants (right to buy) $ 0.04 12/21/2010   X     113,927   (7)   (7) Common Stock 113,927 $ 0 0 I (1)(7) (1) (7)

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Davis Charles Louis IV
C/O RIGNET, INC.
1880 S. DAIRY ASHFORD, SUITE 300
HOUSTON, TX 77077		   X      

Signatures

 /s/ William Sutton pursuant to a Limited Power of Attorney filed with the SEC December 14, 2010   12/22/2010
**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) Mr. Davis is a manager of SMH PEG Management II, LLC, which is the general partner of SMH Private Equity Group II, LP, and a manager of SMH PEG Management I, LLC, which is the general partner of SMH Private Equity Group I, LP, and may vote or sell securities owned by such entities. Mr. Davis disclaims beneficial ownership of any shares of common stock, Series C Preferred Stock and Common Stock Warrants owned by such entities, except to the extent of any pecuniary interest therein
(2) Includes (i) 12,057 shares of common stock owned by SMH PEG Management II, LLC, (ii) 1,136,281 shares of common stock owned by SMH Private Equity Group I, LP and (iii) 558,705 shares of common stock owned by SMH Private Equity Group II, LP.
(3) 145,356, 104,722 and 1,643 shares of common stock were sold by SMH Private Equity Group I, LP, SMH Private Equity Group II, L.P. and SMH PEG Management II, LLC, respectively, in a registered underwritten public offering pursuant to an underwriting agreement entered into on December 14, 2010.
(4) Represents public offering price of $12.00 per share of common stock less the underwriter's discount of $0.84 per share of common stock.
(5) The amount of securities acquired represents the cashless exercise of the Common Stock Warrants based on a market price of $12.93 per share of Common Stock.
(6) The amount of underlying securities consists of (i) shares of Common Stock issued in connection with the conversion, which occurred immediately prior to the closing of the Issuer's initial public offering on December 20, 2010, of the Series C Preferred Stock reported in column 5 and the accrued and unpaid dividends on the Series C Preferred Stock reported in column 5 and (ii) shares of Common Stock issued to pay the major event preference, which occurred immediately prior to the closing of the Issuer's initial public offering on December 20, 2010, for the preferred stock reported in column 5. The conversion and major event preference are more fully described in the prospectus filed by the Issuer pursuant to Rule 424(b) under the Securities Act of 1933 on December 16, 2010. The Series C Preferred Stock had no expiration date. The Series C Preferred Stock is owned by SMH Private Equity Group I, LP.
(7) The Common Stock Warrants are held by SMH Private Equity Group II, LP and are exercisable at any time, at the holder's election, until December 31, 2015.

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