<SEC-DOCUMENT>0001144204-14-075418.txt : 20141222
<SEC-HEADER>0001144204-14-075418.hdr.sgml : 20141222
<ACCEPTANCE-DATETIME>20141222175337
ACCESSION NUMBER:		0001144204-14-075418
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20141218
FILED AS OF DATE:		20141222
DATE AS OF CHANGE:		20141222

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEPHROS INC
		CENTRAL INDEX KEY:			0001196298
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				133971809
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		41 GRAND AVENUE
		CITY:			RIVER EDGE,
		STATE:			NJ
		ZIP:			07661
		BUSINESS PHONE:		201.343.5202

	MAIL ADDRESS:	
		STREET 1:		41 GRAND AVENUE
		CITY:			RIVER EDGE,
		STATE:			NJ
		ZIP:			07661

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Evans Daron
		CENTRAL INDEX KEY:			0001411726

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32288
		FILM NUMBER:		141304054

	MAIL ADDRESS:	
		STREET 1:		C/O NEPHROS, INC.
		STREET 2:		41 GRAND AVENUE
		CITY:			RIVER EDGE
		STATE:			NJ
		ZIP:			07661
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v397356_4.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2014-12-18</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001196298</issuerCik>
        <issuerName>NEPHROS INC</issuerName>
        <issuerTradingSymbol>NEPH</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001411726</rptOwnerCik>
            <rptOwnerName>Evans Daron</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O NEPHROS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>41 GRAND AVENUE</rptOwnerStreet2>
            <rptOwnerCity>RIVER EDGE</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07661</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2014-12-18</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>21239</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.60</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>74084</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On December 18, 2014, Mr. Evans purchased 21,239 shares of common stock of Nephros, Inc. (the &quot;Company&quot;) for $0.60 per share in connection with Mr. Evans' exercise of nontransferable subscription rights to purchase common stock of the Company pursuant to a rights offering.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Daron Evans</signatureName>
        <signatureDate>2014-12-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
