ALT5 Sigma Corp — Director's Dealing 2005

Nov 18, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: APPLIANCE RECYCLING CENTERS OF AMERICA INC /MN (ARCI)
CIK: 0000862861
Period of Report: 2005-11-16

Reporting Person: BEDNARCZYK W WILLIAM (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-11-16	Stock Option, Right to Buy	$4.05	A	5000	Acquired	2015-11-16	Common Stock w/o par value (5000)	Direct

Footnotes

F1: None of the Option Shares may be purchased prior to one year from the date hereof. Up to 25% of the Option Shares may be purchased at any time after one year from the date thereof and prior to termination of this option. Up to 50% of the Option Shares (less any shares previously purchased pursuant to this option ) may be purchased at any time after two years from the date hereof and prior to termination of this option. Up to 75% of the Option Shares (less any shares previously purchased pursuant to this option ) may be purchased at any time after three years from the date hereof and prior to termination of this option. Up to 100% of the Option Shares (less any shares previously purchased pursuant to this option ) may be purchased at any time after four years from the date hereof and prior to termination of this option.