X0202 4 2007-05-11 0000784199 CRYOLIFE INC CRY 0001013549 HEACOX ALBERT E CRYOLIFE, INC. 1655 ROBERTS BOULEVARD, N.W. KENNESAW GA 30144 0 1 0 0 Sr. VP Research and Devl Common Stock 2007-05-11 4 M 0 9880 2.20 A 29019 D Common Stock 2007-05-11 4 S 0 3280 12.68 D 25739 D Common Stock 2007-05-11 4 S 0 2500 12.70 D 23239 D Common Stock 2007-05-11 4 S 0 1500 12.77 D 21739 D Common Stock 2007-05-11 4 S 0 100 12.78 D 21639 D Common Stock 2007-05-11 4 S 0 800 12.79 D 20839 D Common Stock 2007-05-11 4 S 0 200 12.81 D 20639 D Common Stock 2007-05-11 4 S 0 1500 12.90 D 19139 D Common Stock 2007-05-15 4 M 0 10000 2.20 A 29139 D Common Stock 5346 I By Trust Common Stock 45000 I By Trust Common Stock 200 I By Trusts Stock Option 2.20 2007-05-11 4 M 0 9880 0 D 2003-08-31 2008-02-29 Common Stock 9880 14970 D Stock Option 2.20 2007-05-15 4 M 0 10000 0 D 2003-08-31 2008-02-29 Common Stock 10000 4970 D The 5,346 shares are owned by Albert E. Heacox, Trustee, Albert E. Heacox Living Trust under an agreement dated 10-29-99. The 45,000 shares are owned by Dr. Heacox's spouse as Virginia Heacox FBO Virginia Heacox, Trustee, or successor Trustees of the Virginia Heacox Living Trust under an agreement dated 10-29-99. Includes 100 shares owned by Albert E. Heacox C/F Rachel K. Heacox, UTMA/GA and 100 shares owned by Albert E. Heacox C/F Daniel A. Heacox UTMA/GA. The reporting person disclaims beneficial ownership of all securities held by his daughter and son, and this report should not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. Stock option vests twenty percent per year beginning on first anniversary of grant date. /s/ Albert E. Heacox 2007-05-15