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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 J4cbwSfjS9CHXDBvu4UyqA==

<SEC-DOCUMENT>0001181431-07-043028.txt : 20070702
<SEC-HEADER>0001181431-07-043028.hdr.sgml : 20070702
<ACCEPTANCE-DATETIME>20070702131751
ACCESSION NUMBER:		0001181431-07-043028
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070702
FILED AS OF DATE:		20070702
DATE AS OF CHANGE:		20070702

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SHARPS COMPLIANCE CORP
		CENTRAL INDEX KEY:			0000898770
		STANDARD INDUSTRIAL CLASSIFICATION:	HAZARDOUS WASTE MANAGEMENT [4955]
		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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HOLMES PARRIS H JR
		CENTRAL INDEX KEY:			0001034135
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22390
		FILM NUMBER:		07954028

	BUSINESS ADDRESS:	
		STREET 1:		9311 SAN PEDRO
		STREET 2:		SUITE 400
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78216
		BUSINESS PHONE:		2105256200

	MAIL ADDRESS:	
		STREET 1:		9311 SAN PEDRO SUITE 400
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78216
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd164730.xml
<DESCRIPTION>RESTRICTED STOCK GRANT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-07-02</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001034135</rptOwnerCik>
            <rptOwnerName>HOLMES PARRIS H JR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9220 KIRBY DR., SUITE 500</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77054</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-07-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>9250</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1054696</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents a restricted stock grant under the Company's Non-Employee Director Compensation Plan which entitles the grantee to receive a common share upon the vesting of the restricted share.  Under the restricted stock grant agreement, the settlement of the restricted stock occurs automatically as the restricted share vest, as long as the individual is a Director on such vesting date.  The restricted stock vest over a period of three years with one third vesting on July 2nd of each anniversary year (July 2, 2008, 2009 and 2010).</footnote>
        <footnote id="F2">Amount of securities beneficially owned following reported transaction includes share of Common Stock owned and Restricted Stock subject to vesting and other terms in the underlying Restricted Stock Award Agreement.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Lynn Carnes</signatureName>
        <signatureDate>2007-07-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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