SEC FORM 4

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

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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^*

ALMEIDA DAVID A

(Last)

(First)

(Middle)

175 CAPITAL BOULEVARD

SUITE 103

(Street)

ROCKY HILL

06067

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
AXSYS TECHNOLOGIES INC [ AXYS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	CFO, Ex. VP, Treasurer

3. Date of Earliest Transaction (Month/Day/Year)
05/22/2008

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $0.01 par value per share								2,474	D
Restricted Common Stock, $0.01 par value per share								45,320	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Incentive Stock Options (right to buy)	$6.607							11/13/2002	11/13/2011	Common Stock, $0.01 par value per share	37,500		37,500	D
Incentive Stock Options (right to buy)	$4.527	05/22/2008		S			1,739	01/30/2003	01/30/2012	Common Stock, $0.01 par value per share	18,429	$57	16,690	D
Incentive Stock Options (right to buy)	$4.527	05/22/2008		S			400	01/30/2003	01/30/2012	Common Stock, $0.01 par value per share	16,690	$57.01	16,290	D
Incentive Stock Option (right to buy)	$4.527	05/22/2008		S			207	01/30/2003	01/30/2012	Common Stock, $0.01 par value per share	16,290	$57.05	16,083	D
Incentive Stock Options (right to buy)	$4.527	05/22/2008		S			200	01/30/2003	01/30/2012	Common Stock, $0.01 par value per share	16,083	$57.12	15,883	D
Incentive Stock Options (right to buy)	$4.953							03/04/2004	03/04/2013	Common Stock, $0.01 par value per share	6,000		6,000	D
Non-Qualified Stock Options (right to buy)	$4.953	05/22/2008		S			7,454	03/04/2004	03/04/2013	Common Stock, $0.01 par value per share	7,454	$57	0	D
Incentive Stock Options (right to buy)	$9.993							03/04/2005	03/04/2014	Common Stock, $0.01 par value per share	7,724		7,724	D
Non-Qualified Stock Options	$9.993							03/04/2005	03/04/2014	Common Stock, $0.01 par value per share	7,276		7,276	D
Non-Qualified Stock Options	$18.3							10/06/2005	10/06/2015	Common Stock, $0.01 par value per share	20,000		20,000	D
Incentive Stock Options (right to buy)	$20.23							03/03/2006	03/03/2015	Common Stock, $0.01 par value per share	6,000		6,000	D
Non-Qualified Stock Options	$20.23							03/03/2006	03/03/2015	Common Stock, $0.01 par value per share	4,000		4,000	D
Non Qualified Stock Options	$16.17							03/16/2007	03/16/2016	Common Stock, $0.01 par value per share	15,000		15,000	D

Explanation of Responses:

	David A. Almeida	05/27/2008
	** 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.