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FUEL TECH, INC. Director's Dealing 2011

May 24, 2011

34249_dirs_2011-05-24_05af588d-fdf3-4343-b2be-acef69064b91.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FUEL TECH, INC. (FTEK)
CIK: 0000846913
Period of Report: 2011-05-19

Reporting Person: BAILEY RALPH E (Director, 10% Owner)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2011-05-19 Common Stock M 51048 Acquired 51048 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2011-05-19 Units $ M 51048 Disposed 2011-05-19 Common Stock (51048) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 2286945 Indirect
Common Stock 55000 Indirect
Common Stock 170980 Indirect

Footnotes

F1: Each share equivalent unit was the economic equivalent of one share of the Company's Common Stock. On May 19, 2011 all of the share equivalent units were settled for an equal number of shares of the Company's Common Stock in connection with the reporting person's retirement from the board of directors.

F2: Held 100% by a family limited liability company the interests in which Company are owned 50% by the reporting person and 50% by the spouse of the reporting person. The reporting person holds 100% of the voting power over these Fuel Tech shares.