ACACIA RESEARCH CORP — Director's Dealing 2016

May 20, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACACIA RESEARCH CORP (ACTG)
CIK: 0000934549
Period of Report: 2016-05-19

Reporting Person: GRAZIADIO G LOUIS III (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-19	Common Stock	P	39444	$4.5943	Acquired	362729	Direct
2016-05-19	Common Stock	P	10000	$4.5943	Acquired	372729	Direct
2016-05-19	Common Stock	P	39443	$4.5943	Acquired	198231	Indirect
2016-05-19	Common Stock	P	10000	$4.5943	Acquired	10000	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5000	Indirect
Common Stock	5000	Indirect

Footnotes

F1: These shares are owned by the Graziadio Family Trust u/d/t 11/13/75 ("GFT"), an irrevocable trust established by Mr. Graziadio for the benefit of his children. Mr. Graziadio is neither a trustee nor a beneficiary of GFT and disclaims beneficial ownership of the shares owned by GFT.

F2: These shares are owned by the George & Reva Graziadio Charitable Lead Annuity Trust (the "Annuity Trust"), as to which Mr. Graziadio is trustee and Mr. Graziadio's minor children are contingent beneficiaries. Mr. Graziadio disclaims beneficial ownership of the shares owned by the Annuity Trust.

F3: These shares were purchased for Mr. Graziadio's minor child, Marianna R. Graziadio.

F4: These shares were purchased for Mr. Graziadio's minor child, George L. Graziadio, IV.