X0306 4 2016-08-24 0 0001046995 EMAGIN CORP EMAN 0001230586 STILLWATER HOLDINGS LLC 655 MADISON AVENUE 20TH FLOOR NEW YORK NY 10065 0 0 1 0 Common Stock 2016-08-24 4 X 0 866667 2.05 A 2200000 I By Stillwater Trust LLC Common Stock 1283501 D Common Stock 4250000 I By Flat Creek Fiduciary Management LLC, as Trustee Common Stock 783325 I By Rainbow Gate Corporation Common Stock Purchase Warrants (right to buy) 2.05 2016-08-24 4 X 0 866667 0 D 2016-06-23 2021-06-23 Common Stock 866667 0 I By Stillwater Trust LLC Common Stock Purchase Warrants (right to buy) 2.60 2016-08-24 4 J 0 1152668 0 A 2017-02-24 2022-02-24 Common Stock 1152668 1152668 I By Stillwater Trust LLC Series B Convertible Preferred Stock 0.75 2008-12-22 Common Stock 5377333 4033 D Series B Convertible Preferred Stock 0.75 2008-12-22 Common Stock 937333 703 I By Rainbow Gate Corporation Stillwater Trust LLC elected to do a cash exercise of its Common Stock Purchase Warrant pursuant to the terms of such warrant, which has an exercise price of $2.05 per share and expires on June 23, 2021. These securities are owned by Stillwater Trust LLC. The sole member of Reporting Person is the sole manager and president of Stillwater Trust LLC, and this report shall not be deemed an admission that Reporting Person is the beneficial owner of these securities except to the extent of its pecuniary interest therein. These securities are held solely by Flat Creek Fiduciary Management LLC, as trustee of a trust for the benefit of the minor beneficiaries of the sole member of Reporting Person. The sole member of Reporting Person has investment control over such securities, and this report shall not be deemed an admission that Reporting Person is the beneficial owner of these securities except to the extent of its pecuniary interest therein. These securities are owned solely by Rainbow Gate Corporation. The sole member of Reporting Person is the investment manager of Rainbow Gate Corporation, and this report shall not be deemed an admission that Reporting Person is the beneficial owner of these securities except to the extent of its pecuniary interest therein. The Common Stock Purchase Warrant was acquired as an inducement by the Issuer for Stillwater Trust LLC to exercise the Common Stock Purchase Warrant acquired as part of a private placement by the Issuer pursuant to the Securities Purchase Agreement, dated December 17, 2015 between the Issuer and Stillwater Trust LLC. The shares of Series B Convertible Preferred Stock were purchased on December 22, 2008 as part of a private placement with the Issuer in accordance with the Securities Purchase Agreement, dated December 18, 2008, between the Issuer and the holder. The shares of Series B Convertible Preferred Stock have the rights and preferences set forth on the Certificate of Designations of Series B Convertible Preferred Stock filed with the Secretary of State for the State of Delaware on December 19, 2008. The Series B Convertible Preferred Stock has a stated value of $1,000 per share and currently has a conversion price of $0.75 per share. /s/ Mortimer D. A. Sackler, President of Stillwater Holdings LLC 2016-08-26