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

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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^*

JONES GARY W

(Last)

(First)

(Middle)

2070 ROUTE 52

(Street)

HOPEWELL JUNCTION

12533

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
EMAGIN CORP [ EMA ]

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

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President, CEO, Acting CFO

3. Date of Earliest Transaction (Month/Day/Year)
01/12/2004

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $.001 par value⁽¹⁾	01/12/2004		M		45,900	A	$0.42	1,028,600	D
Common Stock, $.001 par value⁽¹⁾	01/12/2004		M		140,845	A	$0.41	1,169,445	D
Common Stock, $.001 par value⁽¹⁾	01/12/2004		M		6,338	A	$0.41	1,175,783	D
Common Stock, $.001 par value⁽¹⁾	01/12/2004		M		250,000	A	$0.42	1,425,783	D
Common Stock, $.001 par value⁽¹⁾	01/12/2004		M		349,583	A	$0.18	1,775,366	D
Common Stock, $.001 par value⁽¹⁾	01/12/2004		M		2,000,000	A	$0.21	3,775,366	D
Common Stock, $.001 par value⁽¹⁾	01/12/2004		M		58,139	A	$1.72	3,833,505	D
Common Stock, $.001 par value⁽¹⁾	01/12/2004		M		20,433	A	$1.72	3,853,938	D
Common Stock, $.001 par value⁽¹⁾	01/12/2004		M		281,796	A	$0.18	4,135,734	I	Owned by Wife
Common Stock, $.001 par value⁽¹⁾	01/12/2004		M		1,000,000	A	$0.21	5,135,734	I	Owned by Wife
Common Stock, $.001 par value⁽¹⁾	01/12/2004		M		250,000	A	$0.42	5,385,734	I	Owned by Wife
Common Stock, $.001 par value⁽¹⁾	01/12/2004		M		15,716	A	$1.72	5,401,450	I	Owned by Wife

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options (rights to buy)⁽¹⁾⁽²⁾	$0.42	01/12/2004		M			45,900	07/14/2002	07/14/2007	Common Stock	45,900	$0	45,900	D
Stock Options (rights to buy)⁽¹⁾⁽³⁾	$0.41	01/12/2004		M			140,845	12/04/2001	12/04/2011	Common Stock	140,845	$0	140,845	D
Stock Options (rights to buy)⁽¹⁾⁽⁴⁾	$0.41	01/12/2004		M			6,338	12/04/2001	12/04/2011	Common Stock	6,338	$0	6,338	D
Stock Options (rights to buy)⁽¹⁾⁽⁵⁾	$0.42	01/12/2004		M			250,000	01/02/2002	01/02/2007	Common Stock	500,000	$0	500,000	D
Stock Options (rights to buy)⁽¹⁾⁽⁶⁾	$0.18	01/12/2004		M			349,583	10/08/2002	10/08/2005	Common Stock	349,583	$0	0	D
Stock Options (rights to buy)⁽¹⁾⁽⁷⁾	$0.21	01/12/2004		M			2,000,000	10/06/2002	10/06/2007	Common Stock	2,000,000	$0	0	D
Stock Options (rights to buy)⁽¹⁾⁽⁸⁾	$1.72	01/12/2004		M			58,139	03/16/2000	12/30/2004	Common Stock	58,139	$0	0	D
Stock Options (rights to buy)⁽¹⁾⁽⁹⁾	$1.72	01/12/2004		M			20,433	03/16/2000	12/30/2004	Common Stock	20,433	$0	20,433	D
Stock Options (rights to buy)⁽¹⁾⁽¹⁰⁾	$0.18	01/12/2004		M			281,796	10/08/2002	10/08/2005	Common Stock	281,796	$0	0	I	Owned by Wife
Stock Options (rights to buy)⁽¹⁾⁽¹¹⁾	$0.21	01/12/2004		M			1,000,000	10/06/2002	10/06/2007	Common Stock	1,000,000	$0	0	I	Owned by Wife
Stock Options (rights to buy)⁽¹⁾⁽¹²⁾	$0.42	01/12/2004		M			250,000	01/02/2002	01/02/2007	Common Stock	100,000	$0	100,000	I	Owned By Wife
Stock Options (rights to buy)⁽¹⁾⁽¹³⁾	$1.72	01/12/2004		M			15,716	03/16/2000	12/30/2004	Common Stock	15,716	$0	0	I	Owned By Wife

Explanation of Responses:

1. * This Form 4 reports the exercise of options by the reporting person and by the reporting person's wife on January 12, 2004. This Form 4 is in accord with the reporting person's beneficial ownership as reported on the Issuer's periodic reports filed pursuant to the Securities Exchange Act of 1934. A summary of all the securities currently beneficially owned by the reporting person is included in the Issuer's registration statement filed on Form SB-2 on February 6, 2004.

2. Pursuant to this reported transaction, the reporting person exercised all of these options. The reporting person acquired these options on January 2, 2002, as reported in a Form 5 filed on February 17, 2004.

3. Pursuant to this reported transaction, the reporting person exercised all of these options. The reporting person acquired these options on December 4, 2001, as reported in a Form 5 filed on February 17, 2004.

4. Pursuant to this reported transaction, the reporting person exercised all of these options The reporting person acquired these options on December 4, 2001, as reported in a Form 5 filed on February 17, 2004.

5. Following this reported transaction, there are 500,000 shares underlying these options. The reporting person acquired these options on January 2, 2002, as reported in a Form 5 filed on February 17, 2004.

6. Pursuant to this reported transaction, the reporting person exercised all of these options. The reporting person acquired these options on October 8, 2002, as reported in a Form 5 filed on February 17, 2004

7. Pursuant to this reported transaction, the reporting person exercised all of these options. The reporting person acquired these options on October 6, 2002, as reported in a Form 5 filed on February 17, 2004

8. Pursuant to this reported transaction, the reporting person exercised all of these options. The reporting person reported the acquisition of these options in a Form 3 filed on March 29, 2000.

9. Pursuant to this reported transaction, the reporting person exercised all of these options. The reporting person reported the acquisition of these options in a Form 3 filed on March 29, 2000.

10. Pursuant to this reported transaction, the reporting person's wife exercised all of these options. The reporting person's wife acquired these options on October 8, 2002, as reported in a Form 5 filed on February 17, 2004.

11. Pursuant to this reported transaction, the reporting person's wife exercised all of these options. The reporting person's wife acquired these options on October 6, 2002, as reported in a Form 5 filed on February 17, 2004.

12. Following this reported transaction, there are 100,000 shares underlying these options. The reporting person's wife acquired these options on January 2, 2002, as reported in a Form 5 filed on February 17, 2004.

13. Pursuant to this reported transaction, the reporting person's wife exercised all of these options. The reporting person's wife reported ownership of these options in a Form 3 filed on March 29, 2000.

	Gary Jones	12/13/2004
	** 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).
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