MEDIS TECHNOLOGIES LTD 4

4 · MEDIS TECHNOLOGIES LTD · Filed Apr 29, 2008

Form 4

Period: 2008-04-25

Senior Vice President-Finance

Transactions

Disposition to Issuer
Employee Stock Option (right to buy)
2008-04-25−15,000→ 0 total
Exercise: $13.08Exp: 2008-11-03→ Common Stock (15,000 underlying)
Disposition to Issuer
Employee Stock Option (right to buy)
2008-04-25−20,000→ 0 total
Exercise: $14.93Exp: 2009-08-26→ Common Stock (20,000 underlying)
Disposition to Issuer
Employee Stock Option (right to buy)
2008-04-25−30,000→ 0 total
Exercise: $20.98Exp: 2010-07-18→ Common Stock (30,000 underlying)
Award
Common Stock
2008-04-25+38,000→ 38,000 total

Footnotes (5)

[F1]On April 25, 2008, the issuer canceled, pursuant to an Exchange Agreement entered into with the reporting person as of that date, options to purchase an aggregate of 95,000 shares of the issuer's common stock (the "Options") originally granted under the issuer's 1999 Stock Option Plan, as amended. In exchange for the cancellation of the Options, the reporting person received one share of restricted stock under the issuer's 2007 Equity Incentive Plan for every 2.5 Options canceled, for an aggregate of 38,000 shares of restricted stock.
[F2]The canceled option vested in full on November 3, 2005.
[F3]The canceled option vested in full on December 29, 2005.
[F4]The canceled option vested in full on July 18, 2007.
[F5]The canceled option was scheduled to vest in full on June 4, 2008.

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