AWARE INC /MA/ — Director's Dealing 2008

Mar 7, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AWARE INC /MA/ (AWRE)
CIK: 0001015739
Period of Report: 2008-03-07

Reporting Person: FORNEY G DAVID JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-03-06	Common Stock	M	30000	$2.09	Acquired	30000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-03-06	Stock Option (right to buy)	$2.09	M	30000	Disposed	2013-06-02	Common Stock (30000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$5.06	2017-02-12	Common Stock (23000)	23000	Direct
Stock Option (right to buy)	$5.58	2010-02-22	Common Stock (8000)	8000	Direct
Stock Option (right to buy)	$6.18	2015-02-16	Common Stock (15000)	15000	Direct
Stock Option (right to buy)	$2.95	2014-09-08	Common Stock (10000)	10000	Direct
Stock Option (right to buy)	$3.39	2012-07-05	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$3.74	2011-09-21	Common Stock (8333)	8333	Direct
Stock Option (right to buy)	$7.42	2011-07-19	Common Stock (8333)	8333	Direct
Stock Option (right to buy)	$8.07	2011-05-17	Common Stock (8333)	8333	Direct
Stock Option (right to buy)	$20.375	2010-10-18	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$40.563	2010-05-24	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$63.00	2010-02-28	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$42.9375	2009-12-09	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$32.375	2009-09-09	Common Stock (5000)	5000	Direct
Stock Option (right to buy)	$53.125	2009-05-04	Common Stock (5000)	5000	Direct

Footnotes

F1: Vests in 16 equal quarterly installments of 6.25%, beginning as of June 30, 2003, until fully vested.

F2: Vests in 16 equal quarterly installments on the last day of each quarter from March 31 2007 through December 31, 2010.

F3: Vests in 16 equal quarterly installments on the last day of each quarter from March 31 2006 through December 31, 2009.

F4: Vests in full on February 16, 2005.

F5: 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.

F6: Vests in 16 equal quarterly installments of 6.25%, beginning as of September 30, 2002, until fully vested.

F7: Vests in 16 equal quarterly installments of 6.25%, beginning as of September 30, 2001, until fully vested.

F8: 25% vests on July 19, 2001, the remaining 75% vests in 12 equal quarterly installments of 6.25%, until fully vested.

F9: 50% vests on July 1, 2001, the remaining 50% vests in 8 equal quarterly installments of 6.25%, until fully vested.

F10: Vests in 16 equal quarterly installments of 6.25%, beginning as of December 31, 2000, until fully vested.

F11: Vests in 16 equal quarterly installments of 6.25%, beginning as of June 30, 2000, until fully vested.

F12: Vests in 16 equal quarterly installments of 6.25%, beginning as of March 31, 2000, until fully vested.

F13: Vests in 16 equal quarterly installments of 6.25%, beginning as of December 31, 1999, until fully vested.

F14: Vests in 16 equal quarterly installments of 6.25%, beginning as of September 30, 1999, until fully vested.

F15: Vests in full on May 4, 1999.