TELOS CORP — Director's Dealing 2006

Mar 24, 2006

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: TELOS CORP (TLSRP)
CIK: 0000320121
Period of Report: 2000-01-01

Reporting Person: Williams Edward L (Vice President of Operations)

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	70976	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock options (right to buy)	$0.95	2006-05-31	Class A Common Stock (50000)		Direct
Stock options (right to buy)	$1.01	2007-04-23	Class A Common Stock (195000)		Direct
Stock options (right to buy)	$1.07	2008-05-11	Class A Common Stock (65000)		Direct
Stock options (right to buy)	$1.07	2008-05-11	Class A Common Stock (65000)		Direct
Stock options (right to buy)	$1.35	2009-08-30	Class A Common Stock (25000)		Direct

Footnotes

F1: The option is exercisable in five equal annual installments. The first installment became exercisable on 5/31/1996; the second installment became exercisable on 5/31/1997; the third installment became exercisable on 5/31/1998; the fourth installment became exercisable on 5/31/1999; the fifth installment became exercisable on 5/31/2000.

F2: The option is exercisable in five equal annual installments. The first installment became exercisable on 4/23/1997; the second installment became exercisable on 4/23/1998; the third installment became exercisable on 4/23/1999; the fourth installment became exercisable on 4/23/2000; the fifth installment became exercisable on 4/23/2001.

F3: The option is exercisable in five equal annual installments. The first installment became exercisable on 5/11/1998; the second installment became exercisable on 5/11/1999; the third installment became exercisable on 5/11/2000; the fourth installment became exercisable on 5/11/2001; the fifth installment became exercisable on 5/11/2002.

F4: The option is exercisable in five equal annual installments. The first installment became exercisable on 5/11/1998; the second installment became exercisable on 5/11/1999; the third installment became exercisable on 5/11/2000; the fourth installment became exercisable on 5/11/2001; the fifth installment became exercisable on 5/11/2002.

F5: The option is exercisable in five equal annual installments. The first installment became exercisable on 8/30/1999; the second installment became exercisable on 8/30/2000; the third installment became exercisable on 8/30/2001; the fourth installment became exercisable on 8/30/2002; the fifth installment became exercisable on 8/30/2003.