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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	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* DYBALL CHRISTOPHER J (Last) (First) (Middle) C/O LASERCARD CORPORATION 1875 NORTH SHORELINE BOULEVARD (Street) MOUNTAIN VIEW CA 94043 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol LASERCARD CORP [ LCRD ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Chief Operating Officer
	3. Date of Earliest Transaction (Month/Day/Year) 09/21/2009
	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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/21/2009		F		670(1)	D	$8.1	31,546(2)	D
Common Stock	09/22/2009		A		8,837(3)	A	$0	40,383	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options (Right to buy)	$16.6875							09/22/2001	09/22/2010	Common Stock	30,000		30,000	D
Stock Options (Right to buy)	$13.125							09/21/2002	09/21/2011	Common Stock	30,000		30,000	D
Stock Options (Right to buy)	$17.675							06/06/2003	06/06/2012	Common Stock	50,000		50,000	D
Stock Options (Right to buy)	$6.045							05/24/2006(4)	05/24/2015	Common Stock	48,752		48,752	D
Stock Options (Right to buy)	$16.785							05/25/2007(5)	05/24/2013	Common Stock	37,500		37,500	D
Stock Options (Right to buy)	$12.06							09/22/2007(5)	09/22/2013	Common Stock	12,500		12,500	D
Stock Options (Right to buy)	$10.4							09/21/2008(5)	09/21/2014	Common Stock	30,000		30,000	D
Stock Options (Right to buy)	$4.84							(6)	09/22/2018	Common Stock	100,000		100,000	D

Explanation of Responses:

1. The Company withheld these shares to satisfy the Company's tax withholding obligation as permitted under the Company's 2004 Equity Incentive Compensation Plan.

2. 3,750 of these shares are restricted stock awards that vest in cumulative increments of one-half (1/2) each at the end of 36 months and 48 months from September 21, 2007.

3. Restricted stock awards vest in cumulative increments of one-fourth (1/4) each at the end of 12 months, 24 months, 36 months, and 48 months from date granted.

4. Option is exercisable in cumulative increments of one-fourth (1/4) each at the end of 12 months, 24 months, 36 months, and 48 months from date granted. The date indicated above is the date upon which the first increment becomes exercisable.

5. Option is exercisable one-fourth at the end of 12 months, then an additional 1/16 each subsequent three months. The date indicated above is the date upon which the first increment becomes exercisable.

6. Options may be exercisable upon the achievement of various stock price points in the marketplace as follows: 18,182 shares at $10; 18,181 shares at $13; 21,212 shares at $16; 21,212 shares at $19; and 21,213 shares at $22. In order to vest the shares, the closing price must achieve and hold the price points above a period of twenty (20) consecutive trading days. If after five years any of these options have failed to vest, then the unvested options will be rescinded at that point.

Remarks:

	/s/Steven G. Larson as attorney-in-fact for Christopher J. Dyball	09/23/2009
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.