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^*

LARSON KAREN GILLES

(Last)

(First)

(Middle)

2575 UNIVERSITY AVENUE WEST

(Street)

ST. PAUL

55114

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SYNOVIS LIFE TECHNOLOGIES INC [ SYNO ]

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

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2006

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	08/07/2006		M		7,200⁽¹⁾	A	$4.375	118,405	D
Common Stock	08/07/2006		S		700⁽¹⁾	D	$8.34	117,705	D
Common Stock	08/07/2006		S		1,000⁽¹⁾	D	$8.33	116,705	D
Common Stock	08/07/2006		S		1,300⁽¹⁾	D	$8.3	115,405	D
Common Stock	08/07/2006		S		300⁽¹⁾	D	$8.27	115,105	D
Common Stock	08/07/2006		S		470⁽¹⁾	D	$8.26	114,635	D
Common Stock	08/07/2006		S		100⁽¹⁾	D	$8.28	114,535	D
Common Stock	08/07/2006		S		300⁽¹⁾	D	$8.25	114,235	D
Common Stock	08/07/2006		S		100⁽¹⁾	D	$8.24	114,135	D
Common Stock	08/07/2006		S		300⁽¹⁾	D	$8.22	113,835	D
Common Stock	08/07/2006		S		400⁽¹⁾	D	$8.21	113,435	D
Common Stock	08/07/2006		S		330⁽¹⁾	D	$8.2	113,105	D
Common Stock	08/07/2006		S		400⁽¹⁾	D	$8.12	112,705	D
Common Stock	08/07/2006		S		500⁽¹⁾	D	$8.11	112,205	D
Common Stock	08/07/2006		S		500⁽¹⁾	D	$8.13	111,705	D
Common Stock	08/07/2006		S		500⁽¹⁾	D	$8.15	111,205	D
Common Stock								1,000	I	By IRA

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)
Non-Qualified Stock Option (right to buy)	$4.375	08/07/2006		M			7,200⁽¹⁾	⁽²⁾	08/21/2007	Common Stock	7,200	$4.375	18,300	D

Explanation of Responses:

1. Represents the exercise and sale of 7,200 shares on August 7, 2006 pursuant to the pre-established Rule 10b5-1 Selling Plan dated September 29, 2005 between Karen Gilles Larson and RBC Dain Rauscher.

2. Fully vested.

	/s/ Karen Gilles Larson	08/09/2006
	** 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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