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<SEC-DOCUMENT>0001096906-05-000191.txt : 20050509
<SEC-HEADER>0001096906-05-000191.hdr.sgml : 20050509
<ACCEPTANCE-DATETIME>20050509142123
ACCESSION NUMBER:		0001096906-05-000191
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050506
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20050509
DATE AS OF CHANGE:		20050509

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UTAH MEDICAL PRODUCTS INC
		CENTRAL INDEX KEY:			0000706698
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				870342734
		STATE OF INCORPORATION:			UT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12575
		FILM NUMBER:		05811032

	BUSINESS ADDRESS:	
		STREET 1:		7043 S 300 WEST
		CITY:			MIDVALE
		STATE:			UT
		ZIP:			84047
		BUSINESS PHONE:		8015661200
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>utahmed8-k050605.txt
<TEXT>


                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934



          Date of Report (date of earliest event reported): May 6, 2005


                           Commission File No. 0-11178
                                               -------

                           UTAH MEDICAL PRODUCTS, INC.
                           ---------------------------
             (Exact name of Registrant as specified in its charter)


                UTAH                                       87-0342734
   -------------------------------                    ------------------
   (State or other jurisdiction of                     (I.R.S. Employer
   incorporation or organization)                     Identification No.)


                               7043 South 300 West
                               Midvale, Utah 84047
                               -------------------
                     Address of principal executive offices


Registrant's telephone number:      (801) 566-1200
                                    --------------



<PAGE>


- --------------------------------------------------------------------------------

             ITEM 1.01 - ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

- --------------------------------------------------------------------------------


       On May 6, 2005, the Compensation and Option Committee of the Board of
Directors of Utah Medical Products, Inc. accelerated the vesting of certain
unvested stock options awarded to employees, officers and directors under the
Company's stock option plans, which had exercise prices that were under water as
of market close on May 5, 2005.

       Options to purchase 128,063 shares become fully exercisable on December
1, 2005 as a result of the vesting acceleration. Exercise prices of the options
accelerated are $24.02 and $25.59 per share. These options previously became
fully vested on October 1, 2007 and January 1, 2008.

       The Company is taking this action to avoid an accounting charge (as
compensation expense) for these options starting in the quarter ending March 31,
2006, as required by FAS 123R.

- --------------------------------------------------------------------------------

                                   SIGNATURES

- --------------------------------------------------------------------------------


   Pursuant to the requirements of the Securities Exchanges Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                           UTAH MEDICAL PRODUCTS, INC.
                                           ---------------------------
                                           REGISTRANT


Date:     5/6/05                           By:  \s\ Kevin L. Cornwell
      ---------------                         -----------------------
                                              Kevin L. Cornwell
                                              Chairman & CEO
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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