SOLESENCE, INC. — Director's Dealing 2011

May 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NANOPHASE TECHNOLOGIES CORPORATION (NANX)
CIK: 0000883107
Period of Report: 2011-05-02

Reporting Person: Murray Patrick G (VP Research & Development)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-02	Common Stock (right to buy)	$1.26	A	43000	Acquired	2021-05-02	Common Stock (43000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	750	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock (right to buy)	$6.65	2012-01-03	Common Stock (2400)	2400	Direct
Common Stock (right to buy)	$5.55	2014-10-11	Common Stock (3000)	3000	Direct
Common Stock (right to buy)	$6.03	2015-09-27	Common Stock (3000)	3000	Direct
Common Stock (right to buy)	$6.01	2016-09-27	Common Stock (9000)	9000	Direct
Common Stock (right to buy)	$4.48	2017-11-06	Common Stock (9000)	9000	Direct
Common Stock (right to buy)	$3.14	2018-05-12	Common Stock (16000)	16000	Direct
Common Stock (right to buy)	$1.02	2019-05-04	Common Stock (30000)	30000	Direct
Common Stock (right to buy)	$1.70	2020-05-03	Common Stock (27000)	27000	Direct

Footnotes

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