SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Kaplan Elliot M

(Last) (First) (Middle)
7304 WEST 130TH
SUITE 290

(Street)
OVERLAND PARK KS 66213

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
05/03/2007
3. Issuer Name and Ticker or Trading Symbol
DIGITAL ALLY INC [ DGLY ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
5. 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 Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 10,000 D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Option to Buy) (1) 09/21/2015 Common Stock 150,000 $1 D
Stock Option (Option to Buy) (2) 09/25/2011 Common Stock 160,000 $2.15 D
Stock Option (Option to Buy) (3) 03/01/2017 Common Stock 200,000 $1.6 D
Explanation of Responses:
1. Represents 150,000 options to purchase shares of Common Stock of the Company granted pursuant to the Digital Ally, Inc. 2005 Stock Option and Restricted Stock Plan. Fully exercisable as of the filing of this Form 3.
2. Represents 160,000 options to purchase shares of Common Stock of the Company granted pursuant to the Digital Ally, Inc. 2006 Stock Option and Restricted Stock Plan. Of the 160,000 options, 80,000 vested on the grant date of September 25, 2006 and 80,000 vested on September 25, 2007.
3. Represents 200,000 options to purchase shares of Common Stock of the Company granted pursuant to the Digital Ally, Inc. 2007 Stock Option and Restricted Stock Plan. These options vests in equal parts on October 1, 2007, April 1, 2008, and October 1, 2008, provided that Mr. Kaplan is then serving as a member of the Board of Directors of the Company.
/s/ Elliot M. Kaplan 10/04/2007
** 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 5 (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.
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