David C Michaels Form 3 MECHANICAL TECHNOLOGY / DAVID C MICHAELS ownership change

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^*

MICHAELS DAVID C

(Last) (First) (Middle)

C/O MECHANICAL TECHNOLOGY, INCORPORATED

325 WASHINGTON AVENUE EXTENSION

(Street)

ALBANY NY 12205

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
11/29/2020

3. Issuer Name and Ticker or Trading Symbol
MECHANICAL TECHNOLOGY INC [ MKTY ]

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

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

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)
COMMON STOCK, $0.01 par value	80,012	D

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 Options (Rights to Buy)(1)	(2)	03/12/2024	Common Stock	13,000	1.08	D
Stock Options (Rights to Buy)(1)	(2)	03/04/2025	Common Stock	15,000	1.2	D
Stock Options (Rights to Buy)(1)	12/12/2019(3)	12/12/2028	Common Stock	15,000	0.9	D
Restricted Stock Awards(1)	01/14/2021(4)	01/14/2030	Common Stock	15,465	0.99	D

Explanation of Responses:

1. Stock option grant for annual board service.

2. The option is fully vested.

3. The stock options vest in four equal annual installments beginning December 12, 2019.

4. The restricted stock awards vest in two equal annual installments beginning January 14, 2021.

Remarks:

Exhibit 24 - Limited Power of Attorney

	/s/ Jessica L. Olszowy, attorney-in-fact	11/30/2020
	** 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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