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 *
Emancipation Management LLC
  2. Issuer Name and Ticker or Trading Symbol
SABA SOFTWARE INC [SABA]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
825 THIRD AVENUE, 33RD FLOOR
3. Date of Earliest Transaction (Month/Day/Year)
05/21/2014
(Street)

NEW YORK, NY 10022
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ 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, $0.001 par value ("Common Stock") 05/21/2014   P   25,000 A $ 9.5 3,117,670 I See footnotes (1) (2)
Common Stock 05/23/2014   P   5,900 A $ 9.4 3,123,570 I See footnotes (1) (2)

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

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Emancipation Management LLC
825 THIRD AVENUE
33RD FLOOR
NEW YORK, NY 10022
    X    
Emancipation Capital
825 THIRD AVENUE
33RD FLOOR
NEW YORK, NY 10022
    X    
Emancipation Capital SPV III LLC
825 THIRD AVENUE
33RD FLOOR
NEW YORK, NY 10022
    X    
Emancipation Capital, LLC
825 THIRD AVENUE
33RD FLOOR
NEW YORK, NY 10022
    X    
Frumberg Charles
825 THIRD AVENUE
33RD FLOOR
NEW YORK, NY 10022
    X    

Signatures

 EMANCIPATION MANAGEMENT LLC, By: /s/ Charles Frumberg, Managing Member   05/23/2014
**Signature of Reporting Person Date

 EMANCIPATION CAPITAL LLC, By: /s/ Charles Frumberg, Managing Member   05/23/2014
**Signature of Reporting Person Date

 EMANCIPATION CAPITAL MASTER, LTD., By: /s/ Charles Frumberg, Director   05/23/2014
**Signature of Reporting Person Date

 EMANCIPATION CAPITAL SPV III LLC, By: Emancipation Capital LLC, Managing Member, By: /s/ Charles Frumberg, Managing Member   05/23/2014
**Signature of Reporting Person Date

 /s/ Charles Frumberg   05/23/2014
**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) The securities reported herein are held by (i) Emancipation Capital Master, Ltd., a Cayman Islands exempted company ("Emancipation Master Ltd.") and (ii) Emancipation Capital SPV III LLC, a Delaware limited liability company ("Emancipation Capital SPV").
(2) Mr. Charles Frumberg ("Mr. Frumberg") serves as the managing member of Emancipation Management LLC, a New York limited liability company ("Emancipation Management"), and Emancipation Capital LLC, a Delaware limited liability company ("Emancipation Capital LLC "). Emancipation Management serves as the investment manager of Emancipation Master Ltd. and Emancipation Capital SPV. Emancipation Capital LLC serves as the managing member of Emancipation Capital SPV. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.

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