<SEC-DOCUMENT>0001437749-21-006164.txt : 20210316
<SEC-HEADER>0001437749-21-006164.hdr.sgml : 20210316
<ACCEPTANCE-DATETIME>20210316161940
ACCESSION NUMBER:		0001437749-21-006164
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210312
FILED AS OF DATE:		20210316
DATE AS OF CHANGE:		20210316

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Woods Lori A
		CENTRAL INDEX KEY:			0001393007

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33407
		FILM NUMBER:		21745943

	MAIL ADDRESS:	
		STREET 1:		350 HILLS STREET
		STREET 2:		SUITE 106
		CITY:			RICHLAND
		STATE:			WA
		ZIP:			99354

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Isoray, Inc.
		CENTRAL INDEX KEY:			0000728387
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				411458152
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		350 HILLS STREET,
		STREET 2:		SUITE 106
		CITY:			RICHLAND
		STATE:			WA
		ZIP:			99354
		BUSINESS PHONE:		(509) 375-1202

	MAIL ADDRESS:	
		STREET 1:		350 HILLS STREET,
		STREET 2:		SUITE 106
		CITY:			RICHLAND
		STATE:			WA
		ZIP:			99354

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IsoRay, Inc.
		DATE OF NAME CHANGE:	20050805

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CENTURY PARK PICTURES CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
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<DESCRIPTION>FORM 4
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    <documentType>4</documentType>

    <periodOfReport>2021-03-12</periodOfReport>

    <issuer>
        <issuerCik>0000728387</issuerCik>
        <issuerName>Isoray, Inc.</issuerName>
        <issuerTradingSymbol>ISR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001393007</rptOwnerCik>
            <rptOwnerName>Woods Lori A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>350 HILLS STREET, SUITE 106</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>RICHLAND</rptOwnerCity>
            <rptOwnerState>WA</rptOwnerState>
            <rptOwnerZipCode>99354</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <officerTitle>CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

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                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-03-12</value>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>25000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.6050</value>
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                <transactionAcquiredDisposedCode>
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                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Woods Family Living Trust</value>
                </natureOfOwnership>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
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                <directOrIndirectOwnership>
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                </directOrIndirectOwnership>
                <natureOfOwnership>
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                </natureOfOwnership>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
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                </directOrIndirectOwnership>
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                    <value>By Woods Family Living Trust</value>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-03-12</value>
            </transactionDate>
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                </transactionShares>
                <transactionPricePerShare>
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                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>823000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Woods Family Living Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-03-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>X</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>24038</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.57</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>847038</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Woods Family Living Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>48076</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options (right to buy)</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.6050</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-03-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>25000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2027-06-27</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
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                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
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                <directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options (right to buy)</value>
                <footnoteId id="F2"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.46</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-03-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>62500</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2028-06-13</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>62500</value>
                    <footnoteId id="F2"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
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                <sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
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                </directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options (right to buy)</value>
                <footnoteId id="F3"/>
            </securityTitle>
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            </conversionOrExercisePrice>
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            </transactionDate>
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            <transactionAmounts>
                <transactionShares>
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                    <footnoteId id="F3"/>
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                <transactionAcquiredDisposedCode>
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            <exerciseDate>
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            <expirationDate>
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            </expirationDate>
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                <underlyingSecurityTitle>
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                </underlyingSecurityTitle>
                <underlyingSecurityShares>
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                    <footnoteId id="F3"/>
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                </sharesOwnedFollowingTransaction>
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                <transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F4"/>
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            <expirationDate>
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            </expirationDate>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Warrant (right to buy)</value>
                <footnoteId id="F5"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.57</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-03-12</value>
            </transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>X</transactionCode>
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                <transactionShares>
                    <value>24038</value>
                    <footnoteId id="F5"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2020-10-22</value>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <value>2025-10-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>24038</value>
                    <footnoteId id="F5"/>
                </underlyingSecurityShares>
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                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
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                </directOrIndirectOwnership>
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        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">100,000 stock options were granted on 6/27/2017. 25% vested on 6/27/2017, 25% vested on 6/27/2018, 25% vested on 6/27/2019 and the remaining 25% vested on 6/27/2020. The shares exercised on 3/12/2021 represent the shares that vested on 6/27/2020.</footnote>
        <footnote id="F2">250,000 stock options were granted on 6/13/2018. 25% vested on 12/13/2018, 25% vested on 6/13/2019, 25% vested on 6/13/2020 and the remaining 25% will vest on 6/13/2021. The shares exercised on 3/12/2021 represent the shares that vested on 6/13/2020.</footnote>
        <footnote id="F3">250,000 stock options were granted on 6/18/2019. 25% vested on 6/18/2019, 25% vested on 6/18/2020 and the remaining 50% will vest over the next two (2) years, commencing on 6/18/2021, until fully vested. The shares exercised on 3/12/2021 represent the shares that vested on 6/18/2020.</footnote>
        <footnote id="F4">250,000 stock options were granted on 6/23/2020. 25% vested on 6/23/2020 and the remaining 75% will vest over the next three (3) years, commencing on 6/23/2021, until fully vested. The shares exercised on 3/12/2021 represent the shares that vested on 6/23/2020.</footnote>
        <footnote id="F5">Purchased pursuant to public offering that closed on October 22, 2020. Each share of common stock purchased included one-half of a warrant. Each whole warrant is exercisable to purchase one share of common stock at an exercise price of $0.57 per share. Each warrant is immediately exercisable, and will expire October 22, 2025. This transaction represents an exercise for all of the warrants purchased as part of the public offering that closed on October 22, 2020.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Lori A. Woods</signatureName>
        <signatureDate>2021-03-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
