SYPRIS SOLUTIONS INC — Director's Dealing 2011

Apr 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SYPRIS SOLUTIONS INC (SYPR)
CIK: 0000864240
Period of Report: 2011-04-01

Reporting Person: GILL JEFFREY T (Director, President and CEO, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-01	Options (Right to Buy)	$4.11	A	200000	Acquired	2016-03-31	Common Stock (200000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2709265	Direct
Common Stock	23975	Indirect
Common Stock	1918108.923	Indirect

Footnotes

F1: Consists of limited partnership interests of GFP I, LP, a DE limited partnership. The reporting person, his wife, and the trusts for the benefit of his three children are limited partners of GFP I, LP and the reporting person is a director, executive officer and 50% shareholder in Gill Family Capital Management, Inc. the general partner of GFP I, LP.

F2: Options granted pursuant to the 2010 Sypris Omnibus Plan.

F3: Vesting is 100% on the third anniversary of the grant date.