-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 FF3B3pZL15AuouEQC+pLoB5sNel8su6dB/L40h7GL/r0+xB0D0bk+PzIsBeRqoK9
 5QdzdHrR2rfQb3J3AAOOHQ==

<SEC-DOCUMENT>0001181431-06-026968.txt : 20060502
<SEC-HEADER>0001181431-06-026968.hdr.sgml : 20060502
<ACCEPTANCE-DATETIME>20060502171554
ACCESSION NUMBER:		0001181431-06-026968
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20010523
FILED AS OF DATE:		20060502
DATE AS OF CHANGE:		20060502

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Flaherty Michael P
		CENTRAL INDEX KEY:			0001357161

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08443
		FILM NUMBER:		06800458

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		703 726-2270

	MAIL ADDRESS:	
		STREET 1:		PO BOX 1448
		CITY:			MIDDLEBURG
		STATE:			VA
		ZIP:			20118

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TELOS CORP
		CENTRAL INDEX KEY:			0000320121
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
		IRS NUMBER:				520880974
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		19886 ASHBURN ROAD
		CITY:			ASHBURN
		STATE:			VA
		ZIP:			20147
		BUSINESS PHONE:		7034716000

	MAIL ADDRESS:	
		STREET 1:		19886 ASHBURN ROAD
		CITY:			ASHBURN
		STATE:			VA
		ZIP:			20147

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	C3 INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd115554.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2001-05-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000320121</issuerCik>
        <issuerName>TELOS CORP</issuerName>
        <issuerTradingSymbol>TLSRP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001357161</rptOwnerCik>
            <rptOwnerName>Flaherty Michael P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O TELOS CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>19886 ASHBURN ROAD</rptOwnerStreet2>
            <rptOwnerCity>ASHBURN</rptOwnerCity>
            <rptOwnerState>VA</rptOwnerState>
            <rptOwnerZipCode>20147-2358</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>EVP, Gen. Counsel, CAO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.07</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2001-05-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>100000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2001-05-23</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2011-05-23</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>100000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>100000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.62</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-01-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>250000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2004-01-22</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-01-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>250000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>250000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The option was exercisable in four annual installments. The first installment (20%) became exercisable on 5/23/01; the second installment (10%) became exercisable on 5/23/02; the third installment (20%) became exercisable on 5/23/03; the fourth installment (50%) became exercisable on 5/10/04.</footnote>
        <footnote id="F2">The option is exercisable in five equal annual installments.  The first installment became exercisable on 1/22/04; the second installment became exercisable on 1/22/05; the third installment became exercisable on 1/22/ 06; the fourth installment will become exercisable on 1/22/07; the fifth installment will become exercisable on 1/22/08.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Michele Nakazawa</signatureName>
        <signatureDate>2006-05-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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