SOLESENCE, INC. — Director's Dealing 2016

Dec 9, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NANOPHASE TECHNOLOGIES Corp (NANX)
CIK: 0000883107
Period of Report: 2016-09-22

Reporting Person: HENDERSON JAMES A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-09-22	Common Stock	X	15000	$0.30	Acquired	427615	Direct
2016-09-22	Common Stock	X	15000	$0.42	Acquired	442615	Direct
2016-09-22	Common Stock	X	10000	$0.52	Acquired	452615	Direct
2016-09-22	Common Stock	X	4500	$0.44	Acquired	457115	Direct
2016-12-08	Common Stock	P	1000	$0.70	Acquired	458115	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-09-22	Stock Option (right to buy)	$0.30	X	15000	Disposed	2022-08-07	Common Stock (15000)	Direct
2016-09-22	Stock Option (right to buy)	$0.42	X	15000	Disposed	2023-02-14	Common Stock (15000)	Direct
2016-09-22	Stock Option (right to buy)	$0.52	X	10000	Disposed	2024-02-13	Common Stock (10000)	Direct
2016-09-22	Common Stock (right to buy)	$0.44	X	4500	Disposed	2025-02-18	Common Stock (4500)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$1.36	2021-01-31	Common Stock (10000)	10000	Direct
Deferred Common Stock	$		Common Stock (20030)	20030	Direct
Common Stock (right to buy)	$0.42	2026-02-23	Common Stock (12150)	12150	Direct
Common Stock (right to buy)	$0.90	2026-11-17	Common Stock (2000)	2000	Direct
Common Stock (right to buy)	$1.05	2026-11-17	Common Stock (2000)	2000	Direct
Common Stock (right to buy)	$1.18	2026-11-17	Common Stock (2000)	2000	Direct
Common Stock (right to buy)	$0.84	2026-11-17	Common Stock (2000)	2000	Direct
Common Stock (right to buy)	$1.85	2026-11-17	Common Stock (2000)	2000	Direct
Common Stock (right to buy)	$1.10	2026-11-17	Common Stock (2000)	2000	Direct
Common Stock (right to buy)	$0.99	2026-11-17	Common Stock (2000)	2000	Direct

Footnotes

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

F2: Each share of deferred common stock represents a right to receive one share of common stock.

F3: The deferred common stock becomes payable upon the reporting person's termination of service as a director of the Company.

F4: Pursuant to such plan, the reporting person elected to defer receipt of such shares and receive a cumulative total of 20,030 shares of deferred common stock which will all be accounted for under the Company's Non-Employee Director Deferred Compensation Plan.

F5: Subject to certain rights and restrictions, options vest in three equal annual installments.

F6: The stock appreciation rights payable upon the reporting person's termination of service as a director of the Company were terminated, with stock options issued at identical exercise prices to the conversion prices of the respective stock appreciation rights. 2,000 were issued with an exercise price of $0.90, 2,000 were issued with an exercise price of $1.05, 2,000 were issued with an exercise price of $1.18, 2,000 were issued with an exercise price of $0.84, 2,000 were issued with an exercise price of $1.85, 2,000 were issued with an exercise price of $1.10, and 2,000 were issued with an exercise price of $0.99.