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MIND TECHNOLOGY, INC Director's Dealing 2007

Jul 16, 2007

34449_dirs_2007-07-16_b5dd6fec-ea8e-40f4-b7a4-9908a0bb6e08.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MITCHAM INDUSTRIES INC (MIND)
CIK: 0000926423
Period of Report: 2007-07-12

Reporting Person: MITCHAM BILLY F JR (Director, CEO & President)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2007-07-12 MII Common Stock A 6000 $20.00 Acquired 407077 Direct
2007-07-12 MII Common Stock S 9899 $20.0146 Disposed 397178 Direct
2007-07-13 MII Common Stock S 200 $20.00 Disposed 396978 Direct

Holdings (Non-Derivative)

Security Shares Ownership
MII Common Stock 3100 Indirect

Footnotes

F1: Restricted Stock vests 1/3 each year for 3 years beginning on 07/12/2008 and being fully vested on 07/12/2010.

F2: The shares are owned by Mr. Mitcham's spouse.