SOLESENCE, INC. — Director's Dealing 2019

May 30, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NANOPHASE TECHNOLOGIES Corp (NANX)
CIK: 0000883107
Period of Report: 2019-05-22

Reporting Person: HENDERSON JAMES A (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-05-22	Common Stock (right to purchase)	$0.51	A	15000	Acquired	2029-05-22	Common Stock (15000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	482115	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock (right to purchase)	$1.36	2021-01-31	Common Stock (10000)	10000	Direct
Deferred Common Stock	$		Common Stock (20030)	20030	Direct
Common Stock (right to purchase)	$0.52	2024-02-13	Common Stock (10000)	5000	Direct
Common Stock (right to purchase)	$0.44	2025-02-18	Common Stock (4500)	9000	Direct
Common Stock (right to purchase)	$0.42	2026-02-23	Common Stock (12150)	12150	Direct
Common Stock (right to purchase)	$0.90	2026-11-17	Common Stock (2000)	2000	Direct
Common Stock (right to purchase)	$1.05	2026-11-17	Common Stock (2000)	2000	Direct
Common Stock (right to purchase)	$1.18	2026-11-17	Common Stock (2000)	2000	Direct
Common Stock (right to purchase)	$0.84	2026-11-17	Common Stock (2000)	2000	Direct
Common Stock (right to purchase)	$1.85	2026-11-17	Common Stock (2000)	2000	Direct
Common Stock (right to purchase)	$1.10	2026-11-17	Common Stock (2000)	2000	Direct
Common Stock (right to purchase)	$0.99	2026-11-17	Common Stock (2000)	2000	Direct
Common Stock (right to purchase)	$0.68	2027-02-21	Common Stock (15000)	15000	Direct
Common Stock (right to purchase)	$0.82	2028-05-23	Common Stock (15000)	15000	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: 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.

F6: Subject to certain rights and restrictions, options vest in three equal annual installments.