X0202 4 2007-12-07 0 0000944480 GSE SYSTEMS INC GVP 0001321526 Grady Gill R GSE SYSTEMS, INC 7133 RUTHERFORD RD - SUITE 200 BALTIMORE MD 21244 0 1 0 0 Sr. Vice President Common Stock 2007-12-07 4 M 0 4000 1.85 A 4100 D Common Stock 2007-12-07 4 S 0 4000 11.35 D 100 D Employee Stock Option 1.85 2007-12-07 4 M 0 4000 1.850 D 2005-03-22 2012-03-22 Common Stock 4000 10227 D Employee Stock Option 1.610 2013-03-13 Common Stock 55000 55000 D Exercisable as follows: 22,000 3/14/2007; 16,500 3/14/2008; 16,500 3/14/2009 /s/ Gill Grady 2007-12-11