SYPRIS SOLUTIONS INC — Director's Dealing 2007

Jun 13, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SYPRIS SOLUTIONS INC (SYPR)
CIK: 0000864240
Period of Report: 2007-06-12

Reporting Person: SROKA ROBERT (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-12	Common Stock	A	785	—	Acquired	5635	Direct
2007-06-12	Common Stock	A	287	—	Acquired	5922	Direct
2007-06-12	Common Stock	A	449	—	Acquired	6371	Direct
2007-06-12	Common Stock	A	543	—	Acquired	6914	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-12	Option (Right to Buy)	$10.21	D	1989	Disposed	2012-12-31	Common Stock (1989)	Direct
2007-06-12	Option (Right to Buy)	$10.25	D	1789	Disposed	2010-07-02	Common Stock (1789)	Direct
2007-06-12	Option (Right to Buy)	$10.33	D	3374	Disposed	2015-03-31	Common Stock (3374)	Direct
2007-06-12	Option (Right to Buy)	$10.36	D	1756	Disposed	2013-06-29	Common Stock (1756)	Direct
2007-06-12	Option (Right to Buy)	$10.74	D	2472	Disposed	2015-09-30	Common Stock (2472)	Direct
2007-06-12	Option (Right to Buy)	$10.90	D	1537	Disposed	2012-09-30	Common Stock (1537)	Direct
2007-06-12	Option (Right to Buy)	$11.92	D	2022	Disposed	2015-06-30	Common Stock (2022)	Direct
2007-06-12	Option (Right to Buy)	$13.02	D	1409	Disposed	2011-12-31	Common Stock (1409)	Direct
2007-06-12	Option (Right to Buy)	$13.51	D	1683	Disposed	2014-09-30	Common Stock (1683)	Direct
2007-06-12	Option (Right to Buy)	$14.00	D	1472	Disposed	2014-06-30	Common Stock (1472)	Direct
2007-06-12	Option (Right to Buy)	$15.31	D	2148	Disposed	2014-12-31	Common Stock (2148)	Direct
2007-06-12	Option (Right to Buy)	$15.60	D	1100	Disposed	2012-03-31	Common Stock (1100)	Direct
2007-06-12	Option (Right to Buy)	$16.03	D	1267	Disposed	2012-06-30	Common Stock (1267)	Direct
2007-06-12	Option (Right to Buy)	$16.10	D	1431	Disposed	2013-09-28	Common Stock (1431)	Direct
2007-06-12	Option ( Right to Buy)	$16.81	D	1731	Disposed	2013-12-31	Common Stock (1731)	Direct
2007-06-12	Option (Right to Buy)	$7.90	A	2205	Acquired	2011-05-13	Common Stock (2205)	Direct
2007-06-12	Option (Right to Buy)	$7.90	A	1430	Acquired	2011-05-13	Common Stock (1430)	Direct
2007-06-12	Option (Right to Buy)	$7.90	A	4312	Acquired	2011-05-13	Common Stock (4312)	Direct
2007-06-12	Otption (Right to Buy)	$7.90	A	2010	Acquired	2011-05-13	Common Stock (2010)	Direct
2007-06-12	Option (Right to Buy)	$7.90	A	3181	Acquired	2011-05-13	Common Stock (3181)	Direct
2007-06-12	Option (Right to Buy)	$7.90	A	1595	Acquired	2011-05-13	Common Stock (1595)	Direct
2007-06-12	Option (Right to Buy)	$7.90	A	2452	Acquired	2011-05-13	Common Stock (2452)	Direct
2007-06-12	Option (Right to Buy)	$7.90	A	1165	Acquired	2011-05-13	Common Stock (1165)	Direct
2007-06-12	Option (Right to Buy)	$7.90	A	1824	Acquired	2011-05-13	Common Stock (1824)	Direct
2007-06-12	Option (Right to Buy)	$7.90	A	1533	Acquired	2011-05-13	Common Stock (1533)	Direct
2007-06-12	Option (Right to Buy)	$7.90	A	949	Acquired	2011-05-13	Common Stock (949)	Direct

Footnotes

F16: On June 12, 2007, the issuer canceled, pursuant to the 2007 Option Exchange Program, an option grant awarded on January 1, 2003 to the reporting person. In Exchange for this option grant the reporting person received a replacement option (reported herein), on June 12, 2007 for 2,205 shares having an exercise price equal to $7.90.

F17: On June 12, 2007, the issuer canceled, pursuant to the 2007 Option Exchange Program, an option grant awarded on July 3, 2000 to the reporting person. In Exchange for this option grant the reporting person received a replacement option (reported herein), on June 12, 2007 for 1,430 shares having an exercise price equal to $7.90.

F18: On June 12, 2007, the issuer canceled, pursuant to the 2007 Option Exchange Program, an option grant awarded on April 1, 2005 to the reporting person. In Exchange for this option grant the reporting person received a replacement option (reported herein), on June 12, 2007 for 4,312 shares having an exercise price equal to $7.90.

F19: On June 12, 2007, the issuer canceled, pursuant to the 2007 Option Exchange Program, an option grant awarded on June 30, 2003 to the reporting person. In Exchange for this option grant the reporting person received a replacement option (reported herein), on June 12, 2007 for 2,010 shares having an exercise price equal to $7.90.

F20: On June 12, 2007, the issuer canceled, pursuant to the 2007 Option Exchange Program, an option grant awarded on October 1, 2005 to the reporting person. In Exchange for this option grant the reporting person received a replacement option (reported herein), on June 12, 2007 for 3,181 shares having an exercise price equal to $7.90.

F21: On June 12, 2007, the issuer canceled, pursuant to the 2007 Option Exchange Program, an option grant awarded on October 1, 2002 to the reporting person. In Exchange for this option grant the reporting person received a replacement option (reported herein), on June 12, 2007 for 1,595 shares having an exercise price equal to $7.90.

F22: On June 12, 2007, the issuer canceled, pursuant to the 2007 Option Exchange Program, an option grant awarded on July 1, 2005 to the reporting person. In Exchange for this option grant the reporting person received a replacement option (reported herein), on June 12, 2007 for 2,452 shares having an exercise price equal to $7.90.

F23: On June 12, 2007, the issuer canceled, pursuant to the 2007 Option Exchange Program, an option grant awarded on January 1, 2002 to the reporting person. In Exchange for this option grant the reporting person received a replacement option (reported herein), on June 12, 2007 for 1,165 shares having an exercise price equal to $7.90.

F24: On June 12, 2007, the issuer canceled, pursuant to the 2007 Option Exchange Program, an option grant awarded on October 1, 2004 to the reporting person. In Exchange for this option grant the reporting person received a replacement option (reported herein), on June 12, 2007 for 1,824 shares having an exercise price equal to $7.90.

F25: On June 12, 2007, the issuer canceled, pursuant to the 2007 Option Exchange Program, an option grant awarded on July 1, 2004 to the reporting person. In Exchange for this option grant the reporting person received a replacement option (reported herein), on June 12, 2007 for 1,533 shares having an exercise price equal to $7.90.

F26: On June 12, 2007, the issuer canceled, pursuant to the 2007 Option Exchange Program, an option grant awarded on January 1, 2005 to the reporting person. In Exchange for this option grant the reporting person received 785 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.

F27: On June 12, 2007, the issuer canceled, pursuant to the 2007 Option Exchange Program, an option grant awarded on April 1, 2002 to the reporting person. In Exchange for this option grant the reporting person received 287 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.

F28: On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on July 1, 2002 to the reporting person. In exchange for this option grant the reporting person received a replacement option (reported herein), on June 12, 2007 for 949 shares having an exercise price equal to $7.90.

F29: On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on September 29, 2003 to the reporting person. In exchange for this option grant the reporting person received 449 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.

F30: On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on January 1, 2004 to the reporting person. In exchange for this option grant the reporting person received 543 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.