CALLAN JOHN G 4

4 · IMAGEWARE SYSTEMS INC · Filed Jan 20, 2010

Insider Transaction Report

Form 4

Period: 2010-01-16

IMAGEWARE SYSTEMS INCIWSY.PK

CALLAN JOHN G

Director

Transactions

Disposition to Issuer
Stock Options
2010-01-16−5,000→ 5,000 total
Exercise: $2.49Exp: 2017-04-13→ Common Stock (5,000 underlying)
Disposition to Issuer
Stock Options
2010-01-16−2,000→ 5,000 total
Exercise: $3.07Exp: 2014-01-05→ Common Stock (2,000 underlying)
Award
Restricted Stock
2010-01-16+25,521→ 25,521 total
Exercise: $0.00→ Common Stock (25,521 underlying)
Disposition to Issuer
Stock Options
2010-01-16−2,000→ 5,000 total
Exercise: $2.74Exp: 2015-02-13→ Common Stock (2,000 underlying)
Disposition to Issuer
Stock Options
2010-01-16−2,000→ 5,000 total
Exercise: $2.15Exp: 2012-09-04→ Common stock (2,000 underlying)
Disposition to Issuer
Stock Options
2010-01-16−7,535→ 5,000 total
Exercise: $3.00Exp: 2011-09-12→ Common Stock (7,535 underlying)
Disposition to Issuer
Stock Options
2010-01-16−2,000→ 5,000 total
Exercise: $3.03Exp: 2013-01-07→ Common Stock (2,000 underlying)
Disposition to Issuer
Stock Options
2010-01-16−5,000→ 5,000 total
Exercise: $1.45Exp: 2018-01-02→ Common Stock (5,000 underlying)
Disposition to Issuer
Stock Options
2010-01-16−5,000→ 5,000 total
Exercise: $1.99Exp: 2016-01-13→ Common Stock (5,000 underlying)
Disposition to Issuer
Stock Options
2010-01-16−12,000→ 5,000 total
Exercise: $2.36Exp: 2015-09-27→ Common Stock (12,000 underlying)

Footnotes (11)

[F1]The cancelled options provided vesting of one third on 1/1/2009, and installments of one-eighth of the remainder per quarter over the following eight quarters thereafter.
[F10]The cancelled options provided vesting of one third on 1/5/2005, and installments of one-eighth of the remainder per quarter over the following eight quarters thereafter.
[F11]Not Applicable.
[F2]On January 16, 2010, the issuer cancelled, pursuant to the issuer's option exchange program, certain options granted to the reporting person on September 12, 2001, September 4, 2002, January 7, 2003, January 5, 2004, February 3, 2005, September 27, 2005, January 13, 2006, April 3, 2007, and January 2, 2008. In exchange for the options cancelled, the reporting person received a grant of 25,521 shares of restricted stock subject to a three-year vesting schedule, vesting one-twelfth on each quarterly anniversary of the grant date.
[F3]The cancelled options provided vesting of one third on 1/13/2007, and installments of one-eighth of the remainder per quarter over the following eight quarters thereafter.
[F4]The cancelled options provided vesting of one third on 9/4/2003, and installments of one-eighth of the remainder per quarter over the following eight quarters thereafter.
[F5]The cancelled options provided vesting of one third on 9/27/2006, and installments of one-eighth of the remainder per quarter over the following eight quarters thereafter.
[F6]The cancelled options provided vesting of one third on 4/2/2008, and installments of one-eighth of the remainder per quarter over the following eight quarters thereafter.
[F7]The cancelled options provided vesting of one third on 2/3/2006, and installments of one-eighth of the remainder per quarter over the following eight quarters thereafter.
[F8]The cancelled options provided vesting of one third on 9/12/2002, and installments of one-eighth of the remainder per quarter over the following eight quarters thereafter.
[F9]The cancelled options provided vesting of one third on 1/7/2004, and installments of one-eighth of the remainder per quarter over the following eight quarters thereafter.

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