SIGA TECHNOLOGIES INC — Director's Dealing 2011

Jan 11, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SIGA TECHNOLOGIES INC (SIGA)
CIK: 0001010086
Period of Report: 2011-01-07

Reporting Person: MacAndrews & Forbes Holdings Inc. (Director, 10% Owner)
Reporting Person: PERELMAN RONALD O (Director, 10% Owner)
Reporting Person: MacAndrews & Forbes LLC (Director, 10% Owner)
Reporting Person: STH Partners, L.P. (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-07	Common Stock, par value $.0001 per share	X	697765	$1.8288	Acquired	9348935	Indirect
2011-01-07	Common Stock, par value $.0001 per share	F	95066	$13.423	Disposed	9253869	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-07	Warrant (Right to Buy)	$1.8288	X	697765	Disposed	2011-01-08	Common Stock (697765)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.0001 per share	3851969	Indirect

Footnotes

F1: Acquired pursuant to the exercise of the warrants described in Table II.

F2: The shares represent the exercise price paid by MacAndrews & Forbes LLC (formerly known as MacAndrews & Forbes Holdings Inc.) ("MacAndrews & Forbes") to acquire the 697,765 shares reported above. The price of the shares was calculated pursuant to the terms of the warrant.

F3: These warrants to purchase shares of the common stock ("Common Stock") of SIGA Technologies, Inc. ("SIGA") were acquired by MacAndrews & Forbes on January 8, 2004 pursuant to a Securities Purchase Agreement, dated August 13, 2003, by and between SIGA and MacAndrews & Forbes. These warrants were previously reported at the time of acquisition as the right to buy 639,095 shares of Common Stock at an exercise price of $2.00 per share, but, pursuant to the anti-dilution provisions of the warrants, were adjusted to reflect the effects of certain of SIGA's subsequent issuances.