SIGA TECHNOLOGIES INC — Director's Dealing 2004

Aug 23, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SIGA TECHNOLOGIES INC (SIGA)
CIK: 0001010086
Period of Report: 2004-07-02

Reporting Person: KASTEN BERNARD L (Director, Chief Executive Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-07-02	Employee Stock Option (right to buy)	$1.30	A	2500000	Acquired	2014-07-02	Common Stock (2500000)	Direct

Footnotes

F1: The Company granted the Reporting Person an option to buy 2,500,000 shares of common stock the Company in connection with the
Reporting Person entering into an employment agreement with the Company. The shares vest in the following manner: (a)
500,000 shares vested on July 2, 2004; (b) 1,000,000 shares vest over the agreement's initial three year term with 166,666
shares vesting at the end of each six month period until the end of the sixth month period, at which time 166,667 shares
will vest; and (c) in the event the employment agreement is renewed for another three year term, the remaining 1,000,000
shares will vest over the renewal term with 166,666 shares vesting at the end of each six month period until the end of the
sixth six month period, at which time 166,667 shares will vest.