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* OSSER LEONARD (Last) (First) (Middle) C/O MILESTONE SCIENTIFIC INC. 220 SOUTH ORANGE AVENUE (Street) LIVINGSTON NJ 07039 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol MILESTONE SCIENTIFIC INC. [ MLSS ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner X Officer (give title below) Other (specify below) CEO
	3. Date of Earliest Transaction (Month/Day/Year) 01/09/2017
	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	01/09/2017		M		83,333	A	$0.75	3,070,568	D
Common Stock	01/09/2017		A		31,056	A	(3)	3,101,624(1)	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
Options to purchase Common stock	$0.75	01/09/2017		M			83,333	01/09/2012	01/09/2017	Common stock	83,333	(3)	1	D
Options to purchase Common stock	$1.77	01/09/2017		A		62,112		01/09/2017(8)	01/09/2022	Common Stock	62,112	(3)	62,112	D
Options to purchase Common stock	$1.93							12/02/2016(2)	12/02/2021	Common stock	171,429		171,429	D
Options to purchase Common stock	$1.65							12/31/2013(4)	12/31/2018	Common stock	248,448		248,448	D
Options to purchase Common stock	$1.49							11/01/2009	11/01/2019	Common stock	73,333		73,333	D
Options to purchase Common stock	$2.38							11/20/2014(5)	11/01/2019	Common stock	185,185		185,185	D
Options to purchase Common stock	$3.49							06/20/2015(6)	06/20/2020	Common stock	57,307		57,307	D
Options to purchase Common stock	$1.89							02/04/2016(7)	02/04/2021	Common stock	82,988		82,988	D

Explanation of Responses:

1. 910,196 shares are issuable to the reporting person at the termination of employment.

2. These options are exercisable as follows: (i) for 57,143 shares on the date of grant (12-2-16) and (ii) for an additional 1/3 of the 114,286 remaining shares on each of the 1st through 3rd anniversaries of the date of grant.

3. Not applicable.

4. These options are exercisable as follows: (i) immediately for 193,210 and (ii) for an additional 55,238 on 12/31/16.

5. These options are exercisable as follows: (i) for 61,728 shares on the date of grant (11-20-14) and (ii) for an additional 1/3 of the 123,457 remaining shares on each of the 1st through 3rd anniversaries of the date of grant.

6. These options are exercisable as follows: (i) for 19,102 shares on the date of grant (6-20-15) and (ii) for an additional 1/3 of the 38,205 remaining shares on each of the 1st through 3rd anniversaries of the date of grant.

7. These options are exercisable as follows: (i) for 27,663 shares on the date of grant (2-4-16) and (ii) for an additional 1/3 of the 55,325 remaining shares on each of the 1st through 3rd anniversaries of the date of grant.

8. These options are exercisable as follows: (i) for 20,704 shares on the date of grant (1-9-17) and (ii) for an additional 1/3 of the 41,408 remaining shares on each of the 1st through 3rd anniversaries of the date of grant.

	/s/ Leonard Osser	01/10/2017
	** Signature of Reporting Person	Date
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