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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 X+14AHyvpGHtR/q3NieNpA==

<SEC-DOCUMENT>0001209191-04-014717.txt : 20040305
<SEC-HEADER>0001209191-04-014717.hdr.sgml : 20040305
<ACCEPTANCE-DATETIME>20040305194311
ACCESSION NUMBER:		0001209191-04-014717
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040303
FILED AS OF DATE:		20040305

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ASPECT MEDICAL SYSTEMS INC
		CENTRAL INDEX KEY:			0000886235
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				954154357
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		141 NEEDHAM STREET
		CITY:			NEWTON
		STATE:			MA
		ZIP:			02464-1505
		BUSINESS PHONE:		(617) 559-7857

	MAIL ADDRESS:	
		STREET 1:		141 NEWTON STREET
		CITY:			NEWTON
		STATE:			MA
		ZIP:			02464-1505

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CHAMOUN NASSIB
		CENTRAL INDEX KEY:			0001222940

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24663
		FILM NUMBER:		04653317

	BUSINESS ADDRESS:	
		STREET 1:		C/O ASPECT MEDICAL SYSTEMS INC
		STREET 2:		141 NEEDHAM ST
		CITY:			NEWTON
		STATE:			MA
		ZIP:			02464-1505
		BUSINESS PHONE:		6175597000

	MAIL ADDRESS:	
		STREET 1:		C/O ASPECT MEDICAL SYSTEMS INC
		STREET 2:		141 NEEDHAM ST
		CITY:			NEWTON
		STATE:			MA
		ZIP:			02464-1505
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>b49807nc.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-03-03</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000886235</issuerCik>
        <issuerName>ASPECT MEDICAL SYSTEMS INC</issuerName>
        <issuerTradingSymbol>ASPM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001222940</rptOwnerCik>
            <rptOwnerName>CHAMOUN NASSIB</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ASPECT MEDICAL SYSTEMS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>141 NEEDHAM STREET</rptOwnerStreet2>
            <rptOwnerCity>NEWTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02464</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President and CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-03-03</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1717</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>17.10</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>290554</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-03-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>17.07</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>289554</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>120000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Trust</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 18, 2004.</footnote>
        <footnote id="F2">These shares are held by a trust for the benefit of Mr. Chamoun's minor children.  Mr. Chamoun disclaims beneficial ownership of the securities indicated and the reporting herein of such securities shall not be construed as an admission that Mr. Chamoun is the beneficial owner of any such securities for the purposes of Section 16 of the Securities and Exchange Act of 1934, as amended, or for any other purpose.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Robert Solomon (Attorney in fact for Nassib Chamoun)</signatureName>
        <signatureDate>2004-03-05</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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