ZOLT is rated a buy but the insiders are selling. 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 OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response... 0.5
(Print or Type Responses) 1. Name and Address of Reporting Person * RUMY ZSOLT 2. Issuer Name and Ticker or Trading Symbol ZOLTEK COMPANIES INC [ZOLT] 5. Relationship of Reporting Person(s) to Issuer
(Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) President and CEO
(Last) (First) (Middle)
3101 MCKELVEY ROAD 3. Date of Earliest Transaction (Month/Day/Year) 05/16/2006 (Street)
ST LOUIS, MO 63044 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 Common Stock 05/16/2006 S 100,000 D $34.69 0 D Common Stock 05/17/2006 S 20,000 D $34.9 0 D Common Stock 05/17/2006 S 15,000 D $35.12 0 D Common Stock 05/17/2006 S 10,000 D $34.75 0 D Common Stock 05/17/2006 S 5,000 D $35.17 0 D Common Stock 05/17/2006 C 357,143 A $3.5 0 D Common Stock 05/17/2006 C 62,500 A $5 0 D Common Stock 05/17/2006 C 11,532 A $5.42 6,257,709 D
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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 7% Convertible Debenture due 2008 $3.5 05/17/2006 C 357,143 02/13/2003 02/13/2008 Common Stock 357,143 $ 0 0 D Warrants (Options to Buy) $5 05/17/2006 C 62,500 02/13/2003 02/13/2008 Common Stock 62,500 $ 0 0 D Warrants (Options to Buy) $5.42 05/17/2006 C 11,532 01/13/2004 01/13/2009 Common Stock 11,532 $ 0 0 D
Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other RUMY ZSOLT 3101 MCKELVEY ROAD ST LOUIS, MO 63044 X X President and CEO
Signatures /s/ Zsolt Rumy 05/18/2006 **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).
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