SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

OBERG SHERRI C

(Last)

(First)

(Middle)

C/O ACCUSPHERE, INC.

500 ARSENAL STREET

(Street)

WATERTOWN

02472

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
10/07/2003

3. Issuer Name and Ticker or Trading Symbol
ACUSPHERE INC [ ACUS ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President and CEO

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	83,975	D
Common Stock	25,000	I	See Footnote⁽¹⁾
Common Stock	25,000	I	See Footnote⁽²⁾
Common Stock	3,334	I	See Footnote⁽³⁾
Common Stock	3,334	I	See Footnote⁽⁴⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option (Right to Buy)	07/11/1997	07/11/2007	Common Stock	3,116	$1.8	D
Stock Option (Right to Buy)	07/11/1998	07/11/2008	Common Stock	2,778	$1.98	D
Stock Option (Right to Buy)	08/11/2000⁽⁵⁾	07/11/2010	Common Stock	1,011	$5.7	D
Stock Option (Right to Buy)	02/02/2001	01/01/2011	Common Stock	2,605	$7.2	D
Stock Option (Right to Buy)	02/01/2001⁽⁵⁾	01/01/2011	Common Stock	25,000	$7.2	D
Stock Option (Right to Buy)	10/26/2001⁽⁵⁾	09/26/2011	Common Stock	44,280	$7.2	D
Stock Option (Right to Buy)	02/01/2002⁽⁵⁾	01/01/2012	Common Stock	9,457	$0.84	D
Stock Option (Right to Buy)	08/19/2002⁽⁵⁾	07/19/2012	Common Stock	119,919	$0.84	D
Stock Option (Right to Buy)	02/01/2003⁽⁵⁾	01/01/2013	Common Stock	33,334	$0.84	D
Stock Option (Right to Buy)	10/02/2003⁽⁵⁾	09/02/2013	Common Stock	122,537	$13.02	D

Explanation of Responses:

1. These shares are held of record by AMO Irrevocable Trust-2000. The reporting person disclaims beneficial ownership of such securities except to the extent of her pecuniary interest therein.

2. These shares are held of record by EAO Irrevocable Trust-2000. The reporting person disclaims beneficial ownership of such securities except to the extent of her pecuniary interest therein.

3. These shares are held of record by Lambert R. Oberg and Jean P. Oberg, the inlaws of the reporting person. The reporting person disclaims beneficial ownership of such securities except to the extent of her pecuniary interest therein.

4. These shares are held of record by Mary C. Carroll and A. David Carroll, the parents of the reporting person. The reporting person disclaims beneficial ownership of such securities except to the extent of her pecuniary interest therein.

5. These options vest and become excercisable in equal monthly installments over a four year period from the date of grant. The date listed is the date on which the first such installment becomes exercisable.

	/s/ Sherri C. Oberg	10/02/2003
	** 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 5 (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.
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