NETWORK-1 TECHNOLOGIES, INC. — Director's Dealing 2012

Nov 2, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NETWORK 1 SECURITY SOLUTIONS INC (NSSI-OTC)
CIK: 0001065078
Period of Report: 2012-11-01

Reporting Person: HOROWITZ COREY M (Director, CEO & Chairman, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-11-01	Option to purchase common stock (right to buy)	$1.19	A	500000	Acquired	2022-11-01	Common Stock (500000)	Direct

Footnotes

F1: The options were issued pursuant to an employment agreement, dated November 1, 2012, between the Issuer and the Reporting Person.

F2: The shares of common stock underlying the option vest on a quarterly basis in equal amounts of 41,667 shares beginning November 30, 2012 through August 31, 2015.