SYPRIS SOLUTIONS INC — Director's Dealing 2008

Apr 2, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SYPRIS SOLUTIONS INC (SYPR)
CIK: 0000864240
Period of Report: 2008-03-31

Reporting Person: Walsh John James (President of Subsidiary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-03-31	Common Stock	A	30000	—	Acquired	30000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-03-31	Options (Right to Buy)	$4.13	A	60000	Acquired	2014-03-30	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 March 31, 2011; 30% on March 31, 2012 and 40% on March 31, 2013.