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 *
Hruby Dennis E
   2. Issuer Name and Ticker or Trading Symbol
SIGA TECHNOLOGIES INC [SIGA] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Scientific Officer
(Last)
(First)
(Middle)
C/O SIGA TECHNOLOGIES, INC., 35 EAST 62ND STREET		 3. Date of Earliest Transaction (Month/Day/Year)
02/02/2012
(Street)

NEW YORK, NY 10065		 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

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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 V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock-Settled Stock Appreciation Rights $ 3.53 02/02/2012   A   337,500     (1) 02/02/2019 Common Stock, par value $.0001 per share (2) $ 0 337,500 D  
Stock-Settled Stock Appreciation Rights $ 3.53 02/02/2012   A   37,500     (1) 02/02/2019 Common Stock, par value $.0001 per share (3) $ 0 37,500 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Hruby Dennis E
C/O SIGA TECHNOLOGIES, INC.
35 EAST 62ND STREET
NEW YORK, NY 10065		       Chief Scientific Officer  

Signatures

 /s/ Dennis E. Hruby   02/03/2012
**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) For more detailed information regarding the SSARs program, including a discussion of the nature and purpose of the SSARs program, please see the Current Report on Form 8-K filed on February 3, 2012 by SIGA Technologies, Inc. The stock-settled stock appreciation rights (the "SSARs") vest in equal yearly installments over a period of three (3) years, with the first 1/3 of such SSARs to vest on February 2, 2013, the second 1/3 of such SSARs to vest on February 2, 2014, and the remaining 1/3 of such SSARs to vest on February 2, 2015.
(2) Each SSAR consists of the right to receive an amount, in common stock, equal to the excess of the fair market value of a share of common stock (subject to a cap on the fair market value at $4.50 per share) on the date of exercise over the exercise price of such SSAR.
(3) Each SSAR consists of the right to receive an amount, in common stock, equal to the excess of the fair market value of a share of common stock (subject to a cap on the fair market value at $7.00 per share) on the date of exercise over the exercise price of such SSAR.

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