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Genasys Inc. Director's Dealing 2005

Aug 29, 2005

34184_dirs_2005-08-29_0b9b8797-d4dd-49bc-9b80-420d964c4105.zip

Director's Dealing

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SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: AMERICAN TECHNOLOGY CORP /DE/ (ATCO)
CIK: 0000924383
Period of Report: 2005-08-17

Reporting Person: CROFT JAMES III (Chief Tech Officer & VP Dev)

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 50 Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Employee Stock Option (right to buy) $3.00 2006-02-20 Common Stock (17000) Direct
Employee Stock Option (right to buy) $4.50 2007-04-16 Common Stock (20000) Direct
Employee Stock Option (right to buy) $3.18 2008-01-27 Common Stock (51000) Direct
Employee Stock Option (right to buy) $3.30 2008-05-09 Common Stock (40000) Direct
Employee Stock Option (right to buy) $6.7 2009-11-16 Common Stock (10000) Direct

Footnotes

F1: Grant to the reporting person on February 20, 2001 of an option to purchase 30,000 shares. The option vested as to 1/8 of the shares in equal quarterly installments over two years beginning on April 1, 2001. The option remains exercisable as to 17,000 shares, all of which are fully vested.

F2: Options are subject to a domestic relations order. The reporting person disclaims beneficial ownership of the shares subject to option except to the extent of his pecuniary interest therein.

F3: Grant to the reporting person on August 2, 2002 of an option to purchase 20,000 shares. The option vested as to 2,500 shares on August 2, 2002 and as to 17,500 shares on March 1, 2004.

F4: Grant to the reporting person on January 27, 2003 of an option to purchase 51,000 shares. The option was fully vested on the date of grant.

F5: Grant to the reporting person on May 9, 2003 of an option to purchase 40,000 shares. The option vested as to 1/8 of the shares on May 9, 2003 and thereafter in equal quarterly installments at each calendar quarter end from June 30, 2003 through December 31, 2004.

F6: Grant to the reporting person on November 16, 2004 of an option to purchase 10,000 shares. The option vests as to 1/4 of the shares on the first anniversary of the date of grant and as to 1/12th of the remaining shares quarterly thereafter until fully vested.