Sec Form 4/A Filing - Cavanagh William @ IsoRay, Inc. - 2014-05-27

Insider filing report for Changes in Beneficial Ownership
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FORM 4/A
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
Cavanagh William
2. Issuer Name and Ticker or Trading Symbol
IsoRay, Inc. [ ISR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Vice President
(Last) (First) (Middle)
350 HILLS STREET, SUITE 106
3. Date of Earliest Transaction (MM/DD/YY)
05/27/2014
(Street)
RICHLAND, WA99354
4. If Amendment, Date Original Filed (MM/DD/YY)
06/24/2014
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 Stock 05/27/2014 M 15,000 A $ 0.84 15,000 D
Common Stock 05/27/2014 M 15,571 A $ 0.99 30,571 D
Common Stock 05/27/2014 S 30,571 D $ 2.22 0 D
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
Stock Options ( 1 ) $ 0.84 05/27/2014( 5 ) M 15,000 ( 2 ) 01/08/2020 Common Stock 15,000 $ 0 0 ( 3 ) D
Stock Options ( 1 ) $ 0.99 05/27/2014( 5 ) M 15,571 ( 4 ) 06/17/2021 Common Stock 15,571 $ 0 7,774 ( 3 ) D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Cavanagh William
350 HILLS STREET
SUITE 106
RICHLAND, WA99354
Vice President
Signatures
s/William Cavanagh 07/02/2014
Signature of Reporting Person Date
Explanation of Responses:
( 1 )right to buy.
( 2 )the option became exercisable in three equal installments ending on January 8, 2013.
( 3 )Since the date of the reporting person's last ownership report, he has transferred employee stock options to purchase an aggregate of 49,965 shares of ISR common stock to his ex-wife pursuant to a domestic relations order. The reporting person no longer reports as beneficially owned any securities by his ex-wife.
( 4 )the option becomes exercisable in three equal installments with two-thirds of the option shares exercisable as of June 30, 2013, and the remaining one-third will become exercisable on June 30, 2014.
( 5 )this amendment is required to be filed to correct an error on the original Form 4 filed on June 24, 2014. In the original Form 4 filing, footnote (2) was inadvertently added in the Section 3. Transaction Date columns in Table II for both entries, when it should have been added in Section 6., for the first entry only.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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