Form 4

4 1 dunayer1231frm4.htm FORM 4 Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL
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1. Name and Address of Reporting Person* Dunayer, Adam		2. Issuer Name and Ticker or Trading Symbol SI Diamond Technology, Inc. (SIDT)					6. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give Other (specify title below) below)
(Last) (First) (Middle) 3006 Longhorn Blvd., Suite 107		3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)		4. Statement for Month/Day/Year December 31, 2002
(Street) Austin, TX 78758				5. If Amendment, Date of Original (Month/Day/Year)			7. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person ___ Form filed by More than One Reporting Person
(City) (State) (Zip)		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 Transactions(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)		Code	V	Amount	(A) or (D)	Price
Common Stock								5,000	D

FORM 4 (continued)

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
    Underlying
    Securities
    (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 of
      Derivative
      Securities
      Beneficially
      Owned at
      End of
      Month
      (Instr. 4)

11. Nature
      of
      Indirect
      Beneficial
      Ownership
      (Instr.
       4)

Code

(A)

(D)

Date
Exercisable

Expiration
Date

Title

Amount
or
Number
of Shares

Stock
Option
- Rt to Buy

$0.34

12-31-02

29,167

(1)

07-29-12

Common
Stock

29,167

Explanation of Responses:

(1) Options are fully vested and exercisable as of the date of this filing.

/s/ Donald T. Locke

Donald T. Locke
Attorney-in-Fact

**Signature of Reporting Person

1/3/03
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