SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES 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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1. Name and Address of Reporting Person* Dugary Ayelet (Last) (First) (Middle) C/O SIGA TECHNOLOGIES, INC. 420 LEXINGTON AVENUE, SUITE 408 (Street) NEW YORK NY 10170 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 02/01/2009	3. Issuer Name and Ticker or Trading Symbol SIGA TECHNOLOGIES INC [ SIGA ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Acting Chief Financial Officer	5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to buy)	(1)	12/15/2014	Common Stock, par value $.0001 per share	140,000	1.5	D
Stock Option (Right to buy)	(2)	07/26/2017	Common Stock, par value $.0001 per share	25,000	3.1	D

Explanation of Responses:

1. The option with respect to 15,000 shares vested on June 15, 2005. The option with respect to 75,000 shares vested pro rata on the 15th of every month from July 15, 2005 to December 15, 2008. The option with respect to 50,000 shares vests pro rata in monthly installments on the 15th of every month; the first such monthly installment vested on December 15, 2005 and the final such monthly installment will vest on November 15, 2009.

2. The option vests pro rata in three installments. The first installment vested on July 26, 2008, and the next two installments will vest on July 26, 2009 and July 26, 2010.

Remarks:

	/s/ Ayelet Dugary	02/10/2009
	** 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 5 (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).
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