SOLESENCE, INC. — Director's Dealing 2008

Mar 3, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NANOPHASE TECHNOLOGIES CORPORATION (NANX)
CIK: 0000883107
Period of Report: 2008-02-29

Reporting Person: PERKINS DONALD S (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-02-29	Common Stock	M	6667	$1.75	Acquired	48811	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-02-29	Stock Option (right to buy)	$1.75	M	6667	Disposed	2009-07-27	Common Stock (10000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$3.50	2008-10-29	Common Stock (25000)	20000	Direct
Stock Option (right to buy)	$5.25	2008-06-10	Common Stock (2000)	667	Direct
Stock Option (right to buy)	$5.75	2008-02-19	Common Stock (10000)	3334	Direct
Stock Option (right to buy)	$9.92	2011-06-05	Common Stock (2000)	2000	Direct
Stock Option (right to buy)	$3.78	2012-11-25	Common Stock (2000)	2000	Direct
Stock Option (right to buy)	$5.07	2013-06-26	Common Stock (2000)	2000	Direct
Stock Option (right to buy)	$3.13	2018-01-22	Common Stock (15000)	15000	Direct
Deferred Common Stock	$		Common Stock (9290)	9290	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.

F3: Subject to certain restrictions, beginning on this date, options vest in two equal annual installments.

F4: Each share of deferred common stock represents a right to receive one share of common stock.

F5: The deferred common stock becomes payable upon the reporting person's termination of service as a director of the Company.