Sec Form 4 Filing - JARRETT VALERIE B @ NAVIGANT CONSULTING INC - 2008-12-09

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 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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1. Name and Address of Reporting Person JARRETT VALERIE B 2. Issuer Name and Ticker or Trading Symbol NAVIGANT CONSULTING INC [ NCI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) Director (Last) (First) (Middle) 30 S. WACKER, SUITE 3550 3. Date of Earliest Transaction (MM/DD/YY) 12/09/2008 (Street) CHICAGO, IL60606 4. If Amendment, Date Original Filed (MM/DD/YY) 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 (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 12/09/2008 S 4,760 D $ 18.7482 ( 1 ) 15,001 D Common Stock 12/09/2008 S 10,374 D $ 18.8 4,627 D Common Stock 12/09/2008 M 9,238 A $ 5.9 13,865 D Common Stock 12/09/2008 M 15,000 A $ 6.15 28,865 D Common Stock 12/09/2008 M 1,861 A $ 6.72 30,726 D Common Stock 12/09/2008 M 1,125 A $ 18.56 31,851 D Common Stock 12/09/2008 S 27,224 D $ 18.675 ( 2 ) 4,627 D Common Stock 12/10/2008 M 5,000 A $ 18.86 9,627 D Common Stock 12/10/2008 S 5,000 D $ 19.4 4,627 D

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 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 Navigant Stock Option $ 5.9 12/09/2008 M 5,000 01/01/2004 01/01/2013 Common Stock 5,000 $ 0 4,238 D Navigant Stock Option $ 5.9 12/09/2008 M 4,238 ( 3 ) 01/01/2013 Common Stock 4,238 $ 0 0 D Navigant Stock Option $ 6.72 12/09/2008 M 1,861 ( 4 ) 07/01/2012 Common Stock 1,861 $ 0 0 D Navigant Stock Option $ 6.15 12/09/2008 M 15,000 10/25/2002 04/25/2012 Common Stock 15,000 $ 0 0 D Navigant Stock Option $ 18.56 12/09/2008 M 1,125 03/13/2008 03/13/2013 Common Stock 1,125 $ 0 0 D Navigant Stock Option $ 18.86 12/10/2008 M 5,000 01/01/2005 01/01/2014 Common Stock 5,000 $ 0 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other JARRETT VALERIE B 30 S. WACKER SUITE 3550 CHICAGO, IL60606 X Director Signatures Kristin L. Kruska, as attorney in fact for Valerie Jarrett 12/11/2008 Signature of Reporting Person Date

Explanation of Responses:

( 1 )$18.7482 is the weighted average sales price. Prices for this transaction ranged from $18.71 to $18.80. The Reporting Person undertakes to provided upon request by the Commission staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price. ( 2 )$18.6750 is the weighted average sales price. Prices for this transaction ranged from $18.55 to $18.80. The Reporting Person und ertakes to provided upon request by the Commission staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price. ( 3 )The options vested in three equal installments on each of January 1, 2004, 2005 and 2006. ( 4 )The options vested in three equal installments on each of July 1, 2003, 2004 and 2005.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* 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).

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