Genasys Inc. — Director's Dealing 2003

Sep 24, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMERICAN TECHNOLOGY CORP /DE/ (atco)
CIK: 0000924383
Period of Report: 2003-09-19

Reporting Person: IRISH JAMES M (Director, CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-19	Employee Stock Option right to buy	$3.43	S	25000	Disposed	2008-02-10	common stock (25000)	Direct
2003-09-19	Employee stock option right to buy	$3.30	S	25000	Disposed	2008-05-09	common stock (25000)	Direct

Footnotes

F1: Effective 9/19/03, the reporting person resigned as CEO of the REgistrant, and resigned as a director on 9/22/03. In connection with the reporting person's resignation the Registrant agree to purchase the REgistrant's vested options as separation compensation. The reporting person's unvested options automatically expired unexercised

F2: The option intially vested as to 25,000 shares on 5/10/03, and would have vested in equal annual installments of 25,000 shares thereafter. The option had an original expiration date of 2/10/08, but due to the reporting person's resignation, would have expired on 12/19/03.

F3: The option initally vested as to 12,500 shares on 5/9/03, 12,500 shares on 6/30/03 and would have vested in qtrly installments of 12,500 shares thereafter. The option had an original expiration date of 5/9/08, but due to the reporting person's resignation, would have expired on 12/19/03.