SOLESENCE, INC. — Director's Dealing 2008

Sep 23, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NANOPHASE TECHNOLOGIES CORPORATION (NANX)
CIK: 0000883107
Period of Report: 2008-09-23

Reporting Person: JANKOWSKI JESS (Acting CEO, VP, CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-09-23	Common Stock	P	4200	$1.55	Acquired	7058	Direct
2008-09-23	Common Stock	P	4400	$1.60	Acquired	11458	Direct
2008-09-23	Common Stock	P	1400	$1.63	Acquired	12858	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock (right to buy)	$3.8125	2008-07-31	Common Stock (11600)	6960	Direct
Common Stock (right to buy)	$7.6875	2010-05-24	Common Stock (21775)	21775	Direct
Common Stock (right to buy)	$10.875	2011-01-26	Common Stock (13000)	13000	Direct
Common Stock (right to buy)	$7.0625	2011-02-28	Common Stock (13000)	13000	Direct
Common Stock (right to buy)	$6.65	2012-01-03	Common Stock (20000)	20000	Direct
Common Stock (right to buy)	$3.66	2013-03-24	Common Stock (18000)	18000	Direct
Common Stock (right to buy)	$5.55	2014-10-11	Common Stock (11000)	11000	Direct
Common Stock (right to buy)	$6.03	2015-09-27	Common Stock (10000)	10000	Direct
Common Stock (right to buy)	$6.01	2016-09-27	Common Stock (15000)	15000	Direct
Common Stock (right to buy)	$1.75	2009-07-27	Common Stock (8000)	5334	Direct
Common Stock (right to buy)	$4.48	2017-11-06	Common Stock (18000)	18000	Direct
Common Stock (right to buy)	$3.14	2018-05-12	Common Stock (23000)	23000	Direct

Footnotes

F1: Subject to certain restrictions, beginning on this date, options vest in five equal installments.

F2: Subject to certain restrictions, beginning on this date, options vest in three equal annual installments.