SIEBERT FINANCIAL CORP — Director's Dealing 2006

Nov 20, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SIEBERT FINANCIAL CORP (SIEB)
CIK: 0000065596
Period of Report: 2006-11-17

Reporting Person: IESU DANIEL (Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-17	Common Stock, $.01 par value	M	36000	$2.3125	Acquired	36000	Direct
2006-11-17	Common Stock, $.01 par value	S	36000	$4	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-11-17	Employee Stock Option (Right to Buy)	$2.3125	M	36000	Disposed	2007-05-16	Common Stock (36000)	Direct

Footnotes

F1: Consists of shares of common stock of Siebert Financial Corp. issued upon the exercise of stock options to purchase common stock at an exercise price of $2.3125 per share.

F2: The original grant of options to purchase 60,000 shares was made on May 16, 1997. The option vested in five equal installments on May 16, 1998, 1999, 2000, 2001 and 2002.