Alan Komet Form 3 FALCONSTOR SOFTWARE / Alan Komet 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^*

Komet Alan

(Last) (First) (Middle)

2 HUNTINGTON QUADRANGLE

(Street)

MELVILLE NY 11747

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
10/28/2015

3. Issuer Name and Ticker or Trading Symbol
FALCONSTOR SOFTWARE INC [ FALC ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
EVP Worldwide Field Operations

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	225,015(1)	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 Option (right to buy)	(2)	05/09/2023	A	20,000	1.36	D

Explanation of Responses:

1. Consists of (i) 15 shares of Common Stock, (ii) 100,000 shares of Restricted Stock, 1/3 of which vest on each of the next three anniversaries of the April 21, 2015 grant date, and (iii) 125,000 shares of Restricted Stock that vest upon the satisfaction of various performance criteria.

2. The options were granted under the Company's 2006 Incentive Stock Plan, as amended. 6,600 of the options became exercisable on May 9, 2014, an additional 6,600 of the options became exercisable on May 9, 2015, and the remaining 6,800 of the options will become exercisable on May 9, 2016.

	/s/ Louis J. Petrucelly as Attorney-in-Fact	11/05/2015
	** 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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