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  <TITLE> Cyberonics, Inc. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	&nbsp;
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	May 4, 2007
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  	Cyberonics, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	&nbsp;
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  	Delaware
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  	000-19806
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  	76-0236465
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	&nbsp;
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  	&nbsp;
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  	100 Cyberonics Blvd., Houston, Texas
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  	&nbsp;
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  	77058
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	2812287200
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
  </P>
  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <FONT SIZE="2">Top of the Form</FONT>
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  <B>
  	Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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  <FONT SIZE="2">
  On May 4, 2007, John A. Riccardi resigned his position as Interim Chief Financial Officer to pursue another opportunity.  The resignation is effective as of the close of business on May 11, 2007.  In connection with his resignation, Mr. Riccardi entered into a Release Agreement with Cyberonics, Inc. ("Company") pursuant to which Mr. Riccardi released the Company from all claims pertaining to his employment in exchange for (i) a payment in the amount of the bonus he would have earned for the Company&#x2019;s recently completed fourth fiscal quarter had he remained in the Company&#x2019;s employ through the date the bonus was paid, and (ii) waiver of $24,376.85 that Mr. Riccardi owes the Company under a Relocation Agreement dated October 26, 2005 between Mr. Riccardi and the Company as a consequence of his voluntary termination of employment within 24 months of the date of his employment.  The amount of Mr. Riccardi&#x2019;s bonus has not yet been determined.  The target amount of his bonus is 30% of his actual fourth quarter earnings, or approximately $18,700.  A copy of the Resignation Agreement is attached as Exhibit 10.1.<br><br>The Company is currently evaluating potential successors to Mr. Riccardi.<br>
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  	Item 9.01 Financial Statements and Exhibits.
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  10.1 Resignation Agreement dated May 4, 2007 between John A. Riccardi and Cyberonics, Inc.
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	Cyberonics, Inc.
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  	&nbsp;&nbsp;
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  	&nbsp;
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  <I>
  	May 10, 2007
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  	&nbsp;
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  <I>
  	By:
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  	&nbsp;
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  <I>
  	/s/ David S. Wise
  </I>
  <BR>
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  	&nbsp;
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  <I>
  	Name: David S. Wise
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  	&nbsp;
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  <I>
  	Title: Secretary
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  	Exhibit&nbsp;Index
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  <B>
  	Exhibit No.
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  	&nbsp;
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  <B>
  	Description
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  	10.1
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  	&nbsp;
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  <FONT SIZE="2">
  Resignation Agreement dated May 4, 2007 between John A. Riccardi and Cyberonics, Inc.
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_20244.htm", "description": "LIVE FILING", "secsgml_size_bytes": 11048}]
metadata_filer: {"company-data": {"conformed-name": "CYBERONICS INC", "cik": "0000864683", "assigned-sic": "3845", "irs-number": "760236465", "state-of-incorporation": "DE", "fiscal-year-end": "0430"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-19806", "film-number": "07838888"}, "business-address": {"street1": "100 CYBERONICS CENTER BLVD", "street2": "SUITE 600", "city": "HOUSTON", "state": "TX", "zip": "77058", "phone": "(281) 228-7200"}, "mail-address": {"street1": "100 CYBERONICS  BLVD", "street2": "SUITE 600", "city": "HOUSTON", "state": "TX", "zip": "77058"}}
text: Cyberonics, Inc. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  May 4, 2007
  Cyberonics, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  000-19806
  76-0236465
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  100 Cyberonics Blvd., Houston, Texas
  77058
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  2812287200
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
  On May 4, 2007, John A. Riccardi resigned his position as Interim Chief Financial Officer to pursue another opportunity.  The resignation is effective as of the close of business on May 11, 2007.  In connection with his resignation, Mr. Riccardi entered into a Release Agreement with Cyberonics, Inc. ("Company") pursuant to which Mr. Riccardi released the Company from all claims pertaining to his employment in exchange for (i) a payment in the amount of the bonus he would have earned for the Company's recently completed fourth fiscal quarter had he remained in the Company's employ through the date the bonus was paid, and (ii) waiver of $24,376.85 that Mr. Riccardi owes the Company under a Relocation Agreement dated October 26, 2005 between Mr. Riccardi and the Company as a consequence of his voluntary termination of employment within 24 months of the date of his employment.  The amount of Mr. Riccardi's bonus has not yet been determined.  The target amount of his bonus is 30% of his actual fourth quarter earnings, or approximately $18,700.  A copy of the Resignation Agreement is attached as Exhibit 10.1.
  The Company is currently evaluating potential successors to Mr. Riccardi.
  Item 9.01 Financial Statements and Exhibits.
  10.1 Resignation Agreement dated May 4, 2007 between John A. Riccardi and Cyberonics, Inc.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Cyberonics, Inc.
  May 10, 2007
  By:
  /s/ David S. Wise
  Name: David S. Wise
  Title: Secretary
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  10.1
  Resignation Agreement dated May 4, 2007 between John A. Riccardi and Cyberonics, Inc.