SIGA TECHNOLOGIES INC — Director's Dealing 2012

Feb 3, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SIGA TECHNOLOGIES INC (SIGA)
CIK: 0001010086
Period of Report: 2012-02-02

Reporting Person: Hruby Dennis E (Chief Scientific Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-02	Stock-Settled Stock Appreciation Rights	$3.53	A	337500	Acquired	2019-02-02	Common Stock, par value $.0001 per share ()	Direct
2012-02-02	Stock-Settled Stock Appreciation Rights	$3.53	A	37500	Acquired	2019-02-02	Common Stock, par value $.0001 per share ()	Direct

Footnotes

F1: For more detailed information regarding the SSARs program, including a discussion of the nature and purpose of the SSARs program, please see the Current Report on Form 8-K filed on February 3, 2012 by SIGA Technologies, Inc. The stock-settled stock appreciation rights (the "SSARs") vest in equal yearly installments over a period of three (3) years, with the first 1/3 of such SSARs to vest on February 2, 2013, the second 1/3 of such SSARs to vest on February 2, 2014, and the remaining 1/3 of such SSARs to vest on February 2, 2015.

F2: Each SSAR consists of the right to receive an amount, in common stock, equal to the excess of the fair market value of a share of common stock (subject to a cap on the fair market value at $4.50 per share) on the date of exercise over the exercise price of such SSAR.

F3: Each SSAR consists of the right to receive an amount, in common stock, equal to the excess of the fair market value of a share of common stock (subject to a cap on the fair market value at $7.00 per share) on the date of exercise over the exercise price of such SSAR.