SIEBERT FINANCIAL CORP — Director's Dealing 2006

Dec 7, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SIEBERT FINANCIAL CORP (SIEB)
CIK: 0000065596
Period of Report: 2006-12-05

Reporting Person: MACON JANE H (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-12-05	Common Stock, $.01 par value per share	M	68	$4.30	Acquired	1568	Direct
2006-12-05	Common Stock, $.01 par value per share	S	68	$5.00	Disposed	1500	Direct
2006-12-06	Common Stock, $.01 par value per share	M	1775	$4.30	Acquired	3275	Direct
2006-12-06	Common Stock, $.01 par value per share	S	1775	$4.9146	Disposed	1500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-12-05	Option to Purchase Common Stock	$4.30	M	68	Disposed	2007-04-19	Common Stock (68)	Direct
2006-12-06	Option to Purchase Common Stock	$4.30	M	1775	Disposed	2007-04-19	Common Stock (1775)	Direct

Footnotes

F1: These options were granted pursuant to Siebert Financial Corp's 1997 Stock Option Plan and were immediately exercisable.