AWARE INC /MA/ — Director's Dealing 2007

Feb 14, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AWARE INC /MA/ (AWRE)
CIK: 0001015739
Period of Report: 2007-02-12

Reporting Person: KRUSE ADRIAN F (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-12	Stock Option (right to buy)	$5.06	A	27500	Acquired	2017-02-12	Common Stock (27500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	10000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$5.58	2010-02-22	Common Stock (12500)	12500	Direct
Stock Option (right to buy)	$6.18	2015-02-16	Common Stock (20000)	20000	Direct
Stock Option (right to buy)	$2.95	2014-09-08	Common Stock (10000)	10000	Direct
Stock Option (right to buy)	$3.27	2013-10-14	Common Stock (25000)	25000	Direct

Footnotes

F1: Vests in 16 equal quarterly installments on the last day of each quarter from March 31 2007 through December 31, 2010

F2: Vests in 16 equal quarterly installments on the last day of each quarter from March 31 2006 through December 31, 2009

F3: Vests in full on February 16, 2005.

F4: 50% vests on September 8, 2004, the remaining 50% vests in 8 equal quarterly installments of 6.25%, beginning as of December 31, 2004, until fully vested.

F5: Option vests in 16 equal quarterly installments of 6.25%, beginning as of December 31, 2003, until fully vested.