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* Mercer John S (Last) (First) (Middle) 106 SNOWBERRY LANE (Street) CAMILLUS NY 13031 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 08/05/2011	3. Issuer Name and Ticker or Trading Symbol WARWICK VALLEY TELEPHONE CO [ WWVY ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Executive Vice President, CTO	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 Shares	7,760(1)	D

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)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	(2)	04/27/2019	Common Stock	7,517	$11.2	D
Employee Stock Option (Right to Buy)	(3)	02/23/2020	Common Stock	2,640	$12.88	D
Employee Stock Option (Right to Buy)	(4)	02/25/2021	Common Stock	4,561	$14.7	D

Explanation of Responses:

1. This restricted stock award was granted under the Warwick Valley Telephone Company 2008 Long-Term Incentive Plan in a transaction exempt under Rule 16b-3.

2. This option was granted under the Warwick Valley Telephone Company 2008 Long-Term Incentive Plan in a transaction exempt under Rule 16b-3 and is exercisable as follows: 2,506 shares on 4/27/2010, 2,506 shares on 4/27/2011, and 2,505 shares on 4/27/2012, assuming Mr. Mercer's continuous employment with the Company.

3. This option was granted under the Warwick Valley Telephone Company 2008 Long-Term Incentive Plan in a transaction exempt under Rule 16b-3 and is exercisable as follows: 880 shares on 2/23/2011, 880 shares on 2/23/2012, and 880 shares on 2/23/2013, assuming Mr. Mercer's continuous employment with the Company.

4. This option was granted under the Warwick Valley Telephone Company 2008 Long-Term Incentive Plan in a transaction exempt under Rule 16b-3 and is exercisable as follows: 1,520 shares on 2/25/2012, 1,520 shares on 2/25/2013, and 1,521 shares on 2/25/2014, assuming Mr. Mercer's continuous employment with the Company.

Remarks:

	/s/John S. Mercer	08/15/2011
	** 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).
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