Edgar Filing: BITSTREAM INC

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

DORE JAMES P

2. Issuer Name and Ticker or Trading Symbol
BITSTREAM INC [BITS]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
VP & CFO

(Last)

(First)

(Middle)

245 FIRST STREET, 17TH FLOOR

3. Date of Earliest Transaction (Month/Day/Year)
08/03/2006

(Street)

CAMBRIDGE, MA 02142-1270

4. If Amendment, Date 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

(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 Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Security: Direct (D) or Indirect (I)
(Instr. 4)

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

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Incentive Stock Option

$ 4.45

08/03/2006

25,000

⁽¹⁾⁽²⁾

08/03/2016

Class A Common Stock

25,000

$ 4.45

144,334 ⁽¹⁾ ⁽²⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
DORE JAMES P 245 FIRST STREET, 17TH FLOOR CAMBRIDGE, MA 02142-1270			VP & CFO

Signatures

James P. Dore		08/07/2006
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Reporting person beneficially owns the following options to purchase Class A Common Stock of the Company (i)an option granted on 07/06/1999 to purchase 1,667 shares at $1.344 per share, which option expires on 07/06/2009 and is fully vested; (ii)an option granted on 10/24/2000 to purchase 6,667 shares at $2.500 per share, which option expires on 10/24/2010 and is fully vested;(iii)an option granted on 11/05/2001 to purchase 6,000 shares at $3.960 per share, which option expires on 11/05/2011 and is fully vested;
(2)	(iv)an option granted on 02/13/2003 to purchase 50,000 shares at $1.790 per share, which option expires on 02/13/2013 and is fully vested; (v)an option granted on 08/02/2004 to purchase 25,000 shares at $1.590 per share, which option expires on 08/02/2014 and of which 16,666 is vested and 8,334 vest on 08/02/2007; (vi)an option granted on 02/07/2005 to purchase 30,000 shares at $2.340 per share, which option expires on 02/07/2015 and of which 10,000 is vested, 10,000 vest on 02/07/2007 and 10,000 vest on 02/07/2008; and (v) an option granted to purchase 25,000 shares at $4.45 per share, which option expires on 08/06/2016 and of which 6,250 vest each on 08/03/07, 08/03/08, 08/03/09 and 08/03/10..

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