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

Jan 6, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NETWORK 1 SECURITY SOLUTIONS INC (NSSI-OTC)
CIK: 0001065078
Period of Report: 2012-01-04

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-04	Common Stock, $.01 par value per share	M	20000	$0.68	Acquired	1430569	Direct
2012-01-04	Common Stock, $.01 par value per share	F	14115	$1.19	Disposed	1416454	Direct
2012-01-04	Common Stock, $.01 par value per share	X	300000	$0.68	Acquired	2342800	Indirect
2012-01-04	Common Stock, $.01 par value per share	J	171428	$1.19	Disposed	2171372	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-01-04	Option to purchase common stock (right to buy)	$0.68	M	20000	Disposed	2014-10-20	Common Stock (20000)	Direct
2012-01-04	Option to purchase common stock (right to buy)	$0.68	X	300000	Disposed	2014-07-11	Common Stock (300000)	Indirect

Footnotes

F1: 11,428 shares delivered in connection with cashless exercise of option and 2,687 shares to satisfy tax withholding.

F2: The securities are owned directly by CMH Capital Management Corp. and indirectly by Corey M. Horowitz. CMH Capital Management Corp. is an entity in which Corey Horowitz is the sole officer, director and shareholder.

F3: Delivered to the Issuer in connection with cashless exercise of warrant.