X0202 4 2007-06-18 0 0000064463 MECHANICAL TECHNOLOGY INC MKTY 0001251272 SCHEUER CYNTHIA A 431 NEW KARNER ROAD ALBANY NY 12205 0 1 0 0 VP, CFO & Secretary Common Stock 2007-06-18 4 A 0 5000 0 A 43750.00 D Stock Options (Right to Buy) 1.34 2007-06-18 4 A 0 15000 1.34 A 2007-06-18 2014-06-17 Common Stock 15000.00 15000.00 D Stock Options (Right to Buy) 1.34 2007-06-18 4 A 0 11250 1.34 A 2007-06-18 2014-06-17 Common Stock 11250.00 26250.00 D Stock Options (Right to Buy) 1.34 2007-06-18 4 A 0 48750 1.34 A 2008-01-01 2014-06-18 Common Stock 48750.00 48750.00 D Vesting based upon the successful completion of certain Company financial goals established by the Company's Board of Directors. These goals must be achieved by June 30, 2008 or they will be forfeited. Immediately Vested Options vest based upon the successful completion of all external Company milestones and certain internal Company milestones established by the Company's Board of Directors. These goals must be achieved by December 31, 2007 or the options will be forfeited. Options vest quarterly at a rate of 6.25% per quarter with first vest occurring on January 1, 2008. /s/ Scheuer, Cynthia A. 2007-06-20