SOLESENCE, INC. — Director's Dealing 2012

Jul 24, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NANOPHASE TECHNOLOGIES CORPORATION (NANX)
CIK: 0000883107
Period of Report: 2012-07-20

Reporting Person: CESARIO FRANK (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-07-20	Common Stock	X	6636	$0.33	Acquired	30000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock (right to buy)	$1.07	2019-06-24	Common Stock (20000)	20000	Direct
Common Stock (right to buy)	$1.70	2020-05-03	Common Stock (20000)	20000	Direct
Common Stock (right to buy)	$1.26	2021-05-02	Common Stock (31000)	31000	Direct

Footnotes

F1: The reporting person previously reported shares purchased upon exercise of subscription rights issued pro rata to holders of the issuer's common stock (the "Common Stock") as of the close of business on June 13, 2012 (the "Record Date"), to purchase 0.342 shares of Common Stock for each one share of Common Stock owned as of the close of business on the Record Date at a subscription price of $0.33 per full share under the basic subscription privilege of the issuer's rights offering. The reporting person also exercised his over-subscription privilege under the rights offering, purchasing 6,636 additional shares of Common Stock at the same $0.33 price.

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