SYPRIS SOLUTIONS INC — Director's Dealing 2008

Sep 15, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SYPRIS SOLUTIONS INC (SYPR)
CIK: 0000864240
Period of Report: 2008-09-15

Reporting Person: Lutes Brian A. (VP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-09-15	Common Stock	A	30000	—	Acquired	30000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-09-15	Options (Right to Buy)	$2.10	A	60000	Acquired	2014-09-14	Common Stock (60000)	Direct

Footnotes

F1: Restricted Stock Grant, pursuant to the 2004 Sypris Equity Plan, vesting in approximately one-third increments on the third, fifth and seventh anniversary dates.

F2: Options granted pursuant to the 2004 Sypris Equity Plan.

F3: Vesting: 30% on September 15, 2011; 30% on September 15, 2012 and 40% on September 15, 2013.