Sec Form 4 Filing - Albro Duane W @ WARWICK VALLEY TELEPHONE CO - 2013-03-25

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 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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1. Name and Address of Reporting Person Albro Duane W 2. Issuer Name and Ticker or Trading Symbol WARWICK VALLEY TELEPHONE CO [ ALTV] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 47 MAIN STREET, PO BOX 592 3. Date of Earliest Transaction (MM/DD/YY) 03/25/2013 (Street) WARWICK, NY10990 4. If Amendment, Date Original Filed (MM/DD/YY) 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 (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 Common Shares 03/25/2013 S 6,474 D $ 9.624 ( 1 ) 76,839 D Common Shares 2,996.9799 I 401(k) Plan

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 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 V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Employee Stock Option (Right to Buy) $ 10.78 09/08/2011 09/08/2018 Common Stock 15,166 ( 2 ) 15,166 ( 2 ) D Employee Stock Option (Right to Buy) $ 10.02 ( 3 ) 03/20/2019 Common Stock 4,051 ( 3 ) 4,051 ( 3 ) D Employee Stock Option (Right to Buy) $ 12.88 ( 4 ) 02/23/2020 Common Stock 15,816 ( 4 ) 15,816 ( 4 ) D Employee Stock Option (Right to Buy) $ 14.85 ( 5 ) 03/09/2021 Common Stock 83,010 ( 5 ) 83,010 ( 5 ) D Employee Stock Option (Right to Buy) $ 14.38 ( 6 ) 02/24/2022 Common Stock 33,711 ( 6 ) 33,711 ( 6 ) D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Albro Duane W 47 MAIN STREET PO BOX 592 WARWICK, NY10990 X Signatures /s/Dorinda M. Masker, on behalf of Duane W. Albro, Pursuant to Power of Attorney 03/27/2013 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $9.21 to $9.90. Mr. Albro undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth above. ( 2 )This option was previously reported by Mr. Albro. ( 3 )This option was previously reported by Mr. Albro and is exercisable as follows: 4,052 shares on 3/20/2010, 4,052 shares on 3/20/2011 and 4,051 shares on 3/20/2012, assuming Mr. Albro's continuous employment with the Company. ( 4 )This option was previously reported by Mr. Albro and is exercisable as follows: 7,908 shares on 2/23/2011, 7,908 shares on 2/23/2012, and 7,908 shares on 2/23/2013, assuming Mr. Albro's continuous employment with the Company. ( 5 )This option was previously reported by Mr. Albro and is exercisable as follows: 27,670 shares on 3/9/2012, 27,670 shares on 3/9/2013, and 27,670 shares on 3/9/2014, assuming Mr. Albro's continuous employment with the Company. ( 6 )This option was previously reported by Mr. Albro and is exercisable as follows: 11,237 shares on 2/24/2013, 11,237 shares on 2/24/2014, and 11,237 shares on 2/24/2015, assuming Mr. Albro's continuous employment with the Company.

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 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).

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