INNOVATIVE SOLUTIONS & SUPPORT INC — Director's Dealing 2005

May 11, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INNOVATIVE SOLUTIONS & SUPPORT INC (ISSC)
CIK: 0000836690
Period of Report: 2005-05-09

Reporting Person: PTAKOWSKI ROMAN G (President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-05-09	Common Stock	M	8690	$6.31	Acquired	8690	Direct
2005-05-09	Common Stock	S	8690	$34.79	Disposed	0	Direct
2005-05-10	Common Stock	M	51310	$34.07	Acquired	51310	Direct
2005-05-10	Common Stock	S	51310	$34.07	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-05-09	NQ Stock Option, right to buy	$6.31	M	8690	Disposed	2013-05-09	Common Stock (8690)	Direct
2005-05-10	NQ Stock Option right to buy	$6.31	M	51310	Disposed	2013-05-09	Common Stock (51310)	Direct

Footnotes

F1: The original NQ stock option grant dated May 9, 2003 was for 180,000 shares with a strike price of $6.31/share. Options vest at the rate of one-third a year with the initial vesting date of May 9, 2004.