MIND TECHNOLOGY, INC — Director's Dealing 2010

Jul 28, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MITCHAM INDUSTRIES INC (MIND)
CIK: 0000926423
Period of Report: 2010-07-26

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-07-26	MII Common Stock	A	45000	$5.13	Acquired	277375	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-07-26	Option to Purchase Common Stock	$5.13	C	45000	Disposed	2010-07-27	MII Common Stock (45000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
MII Common Stock	3100	Indirect

Footnotes

F1: The shares are owned by Mr. Mitcham's spouse.

F2: Options vested 1/3 on July 27,2001, 1/3 on July 27, 2002 and 1/3 on July 27, 2003.