-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 No4/UtKAo6zoa0M6zb8IGsg/jz+S98rcTzJpSrFoCQ3zaJaPP3s6YrhX08o8yTyq
 J1FPna//4qRORBccrOFwJw==

<SEC-DOCUMENT>0001181431-06-039101.txt : 20060629
<SEC-HEADER>0001181431-06-039101.hdr.sgml : 20060629
<ACCEPTANCE-DATETIME>20060629160728
ACCESSION NUMBER:		0001181431-06-039101
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060628
FILED AS OF DATE:		20060629
DATE AS OF CHANGE:		20060629

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GROW JOHN RANDY
		CENTRAL INDEX KEY:			0001244247

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22390
		FILM NUMBER:		06933893

	BUSINESS ADDRESS:	
		STREET 1:		1640 CENTURY CTR PKWY
		STREET 2:		STE 101
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38134
		BUSINESS PHONE:		9013853680

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SHARPS COMPLIANCE CORP
		CENTRAL INDEX KEY:			0000898770
		STANDARD INDUSTRIAL CLASSIFICATION:	ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842]
		IRS NUMBER:				742657168
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		9350 KIRBY DRIVE
		STREET 2:		STE 300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77054
		BUSINESS PHONE:		713-432-0300

	MAIL ADDRESS:	
		STREET 1:		9350 KIRBY DRIVE
		STREET 2:		STE 300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77054

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	US MEDICAL SYSTEMS INC
		DATE OF NAME CHANGE:	19970128

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEDICAL POLYMERS TECHNOLOGIES INC
		DATE OF NAME CHANGE:	19930916
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd122959.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-06-28</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000898770</issuerCik>
        <issuerName>SHARPS COMPLIANCE CORP</issuerName>
        <issuerTradingSymbol>SCOM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001244247</rptOwnerCik>
            <rptOwnerName>GROW JOHN RANDY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9350 KIRBY DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2>#300</rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77054</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.85</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-06-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.85</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2006-06-30</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2013-06-28</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>80000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Vest 100% on June 30, 2006</footnote>
    </footnotes>

    <remarks>Stock Option granted under the Sharps Compliance Corp. 1993 Stock Plan.</remarks>

    <ownerSignature>
        <signatureName>Lynn Carnes</signatureName>
        <signatureDate>2006-06-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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