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SEC FORM 4 SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940 		 
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
PETERSEN SIDNEY R/CA
(Last) (First) (Middle)
1109 EMERALD BAY
(Street)
LAGUNA BEACH CA 92651
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SYPRIS SOLUTIONS INC [ SYPR ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/12/2007
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/12/2007 A 768 A (1) 14,272 D
Common Stock 06/12/2007 A 648 A (2) 14,920 D
Common Stock 06/12/2007 A 1,761 A (3) 16,681 D
Common Stock 06/12/2007 A 475 A (4) 17,156 D
Common Stock 06/12/2007 A 564 A (5) 17,720 D
Common Stock 06/12/2007 A 597 A (6) 18,317 D
Common Stock 06/12/2007 A 1,712 A (7) 20,029 D
Common Stock 06/12/2007 A 397 A (8) 20,426 D
Common Stock 06/12/2007 A 2,554 D (9) 22,980 D
Common Stock 06/12/2007 A 1,630 A (10) 24,610 D
Common Stock 06/12/2007 A 1,336 A (11) 25,946 D
Common Stock 06/12/2007 A 383 A (12) 26,329 D
Common Stock 06/12/2007 A 2,923 A (13) 29,252 D
Common Stock 06/12/2007 A 1,506 A (14) 30,758 D
Common Stock 06/12/2007 A 2,860 A (15) 33,618 D
Common Stock 06/12/2007 A 396 A (16) 34,014 D
Common Stock 06/12/2007 A 505 A (17) 34,519 D
Common Stock 06/12/2007 A 2,766 A (18) 37,285 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option (Right to Buy) $8 06/12/2007 D 1,914 07/02/2001 07/01/2011 Common Stock 1,914 (1) 0 D
Option (Right to Buy) $8 06/12/2007 D 2,653 09/28/1998 09/27/2008 Common Stock 2,653 (2) 0 D
Option (Right to Buy) $8.35 06/12/2007 D 3,375 10/01/2006 09/30/2016 Common Stock 3,375 (3) 0 D
Option (Right to Buy) $8.5 06/12/2007 D 2,403 06/29/1998 06/28/2008 Common Stock 2,403 (4) 0 D
Option (Right to Buy) $8.75 06/12/2007 D 1,645 10/02/2000 10/01/2010 Common Stock 1,645 (5) 0 D
Option (Right to Buy) $9 06/12/2007 D 2,037 01/01/2000 12/31/2009 Common Stock 2,037 (6) 0 D
Option (Right to Buy) $9.13 06/12/2007 D 10,000 06/24/1998 06/23/2008 Common Stock 10,000 (7) 0 D
Option (Right to Buy) $9.19 06/12/2007 D 1,567 06/28/1999 06/27/2009 Common Stock 1,567 (8) 0 D
Option (Right to Buy) $9.3 06/12/2007 D 6,000 04/29/2003 04/28/2013 Common Stock 6,000 (9) 0 D
Option (Right to Buy) $9.43 06/12/2007 D 3,312 04/01/2006 03/31/2016 Common Stock 3,312 (10) 0 D
Option (Right to Buy) $9.45 06/12/2007 D 2,694 07/01/2006 06/30/2016 Common Stock 2,694 (11) 0 D
Option (Right to Buy) $9.63 06/12/2007 D 1,496 09/27/1999 09/26/2009 Common Stock 1,496 (12) 0 D
Option (Right to Buy) $9.63 06/12/2007 D 10,000 05/02/2000 05/01/2010 Common Stock 10,000 (13) 0 D
Option (Right to Buy) $9.98 06/12/2007 D 3,161 12/31/2005 12/30/2015 Common Stock 3,161 (14) 0 D
Option (Right to Buy) $9.98 06/12/2007 D 6,000 12/31/2005 12/30/2015 Common Stock 6,000 (15) 0 D
Option (Right to Buy) $10 06/12/2007 D 1,439 03/27/2000 03/28/2010 Common Stock 1,439 (16) 0 D
Option (Right to Buy) $10 06/12/2007 D 1,441 10/01/2001 09/30/2011 Common Stock 1,441 (17) 0 D
Option (Right to Buy) $10.01 06/12/2007 D 6,000 04/26/2005 04/25/2015 Common Stock 6,000 (18) 0 D
Explanation of Responses:
1. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on July 2, 2001 to the reporting person. In exchange for this option grant the reporting person received 768 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
2. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on September 28, 1998 to the reporting person. In exchange for this option grant the reporting person received 648 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
3. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on October 1, 2006 to the reporting person. In exchange for this option grant the reporting person received 1,761 shares of common stock, valued at the FMV on the date of the commencement of Offer, May 14, 2007.
4. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on June 29, 1998 to the reporting person. In exchange for this option grant the reporting person received 475 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
5. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on October 2, 2000 to the reporting person. In exchange for this option grant the reporting person received 564 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
6. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on January 1, 2000 to the reporting person. In exchange for this option grant the reporting person received 597 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
7. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on June 24, 1998 to the reporting person. In exchange for this option grant the reporting person received 1,712 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
8. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on June 28, 1999 to the reporting person. In exchange for this option grant the reporting person received 397 shares of common stock , valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
9. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on April 29, 2003 to the reporting person. In exchange for this option grant the reporting person received 2,554 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
10. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on April 1, 2006 to the reporting person. In exchange for this option grant the reporting person received 1,630 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
11. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on July 1, 2006 to the reporting person. In exchange for this option grant the reporting person received 1,336 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
12. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on September 27, 1999 to the reporting person. In exchange for this option grant the reporting person received 383 shares of common stock , valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
13. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on May 2, 2000 to the reporting person. In exchange for this option grant the reporting person received 2,923 shares of common stock , valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
14. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on December 31, 2005 to the reporting person. In exchange for this option grant the reporting person received 1,506 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
15. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on December 31, 2005 to the reporting person. In exchange for this option grant the reporting person received 2,860 shares of common stock , valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
16. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on March 27, 2000 to the reporting person. In exchange for this option grant the reporting person received 396 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
17. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on October 1, 2001 to the reporting person. In exchange for this option grant the reporting person received 505 shares of common stock, valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
18. On June 12, 2007, the issuer canceled, pursuant to the 2007 Stock Option Exchange Program, an option grant awarded on April 26, 2005 to the reporting person. In exchange for this option grant the reporting person received 2,766 shares of common stock , valued at the FMV on the date of the commencement of the Offer, May 14, 2007.
Remarks:
Filing is 1 of 2 reports.
Andrea J. Luescher by Power of Attorney on file with the Commission 06/13/2007
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.