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^*

LOUGEE ANTHONY

(Last)

(First)

(Middle)

5 FERN CT

(Street)

TINTON FALLS

07724

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
DATARAM CORP [ DRAM-NASDQ ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Controller

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2003

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)

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)
Options	$4.09	09/18/2003		A		2,500		09/18/2007⁽¹⁾	09/18/2013	Common Stock, $1.00 Par Value	2,500	$99.99⁽²⁾	2,500⁽³⁾	D

Explanation of Responses:

1. Options to purchase 625 shares become first exercisable on 09/18/2004 and a like amount will become first exercisable on each successive anniversary date until all options become exercisable on 9/18/2007.

2. Options were granted to the reporting person in consideration of his service as an executive officer of the Company. Options were granted at an exercise price equal to the fair market value of the Common Stock on the date of grant.

3. In addition, Mr. Lougee holds options to purchase 2,400 shares exercisable at $2.3125 a share which options are presently exercisable and expire on 9/10/2006. Also, Mr. Lougee holds options to purchase 12,000 shares exercisable at $6.00 a share of which 9,600 shares are presently exercisable and 2,400 shares become exercisable on 6/9/2004. This option expires on 6/9/2009. In addition, Mr. Lougee holds options to purchase 2,500 shares at $7.98 a share of which 625 shares are presently exercisable, 625 shares become exercisable on 11/26/2003, 625 shares become exercisable on 11/26/2004 and 625 shares becomes exercisable on 11/26/2005. This option expires on 11/26/2011. Also, Mr. Lougee holds options to purchase 2,500 shares execisable at $2.99 a share of which 625 shares are presently exercisable, 625 shares will become exercisable on 9/18/2004, 625 shares will become exercisable on 9/18/2005 and 625 shares will become exercisable on 9/18/2006. This option expires on 9/18/2012.

	ANTHONY M. LOUGEE	09/22/2003
	** 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 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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