Lantronix Inc. – ‘3’ for 11/20/02 re: Lantronix Inc.

On:  Friday, 11/22/02, at 2:01pm ET   ·   For:  11/20/02   ·   Accession #:  1206732-2-2   ·   File #:  1-16027

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Initial Statement of Beneficial Ownership of Securities by an Insider   —   Form 3   —   SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 3           Initial Statement of Beneficial Ownership of           3     14K 
                Securities by an Insider                                         

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 3

INITIAL STATEMENT OF 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

(Print of Type Responses)                                                       
________________________________________________________________________________
1.   Name and Address of Reporting Person*                                      

Shafer                       David                                        
--------------------------------------------------------------------------------
(Last)                       (First)                   (Middle)           

c/o Lantronix, Inc., 15353 Barranca Parkway                               
--------------------------------------------------------------------------------
(Street)

Irvine                            California             92618            
--------------------------------------------------------------------------------
(City)                            (State)                (Zip)            

________________________________________________________________________________
2.   Date of Event Requiring Statement (Month/Day/Year)                         

11/20/02                                                              
________________________________________________________________________________
3.   I.R.S. Identification Number of Reporting Person, if an entity (voluntary) 

________________________________________________________________________________
4.   Issuer Name and Ticker or Trading Symbol                                   

Lantronix, Inc. (LTRX)                                                          
________________________________________________________________________________
5.   Relationship of Reporting Person(s) to Issuer                              
(Check all applicable)                                                

|_|  Director                             |_|  10% Owner              
|X|  Officer (give title below)           |_|  Other (specify below)  

Vice President, World Wide Sales                                      
________________________________________________________________________________
6.   If Amendment, Date of Original (Month/Day/Year)                            

________________________________________________________________________________
7.   Individual or Joint/Group Filing  (Check Applicable line)                  

|X|  Form filed by One Reporting Person                               

|_|  Form filed by More than One Reporting Person                     

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 Table I -- Non-Derivative Securities Beneficially Owned
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                                                        [Enlarge/Download Table]

                                                                 3. Ownership Form:                                                
                                      2. Amount of Securities       Direct (D) or                                                  
1. Title of Security                     Beneficially Owned         Indirect (I)       4. Nature of Indirect Beneficial Ownership  
   (Instr. 4)                            (Instr. 4)                 (Instr. 5)            (Instr. 5)                               
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Common Stock                             6,625                       D                                                             
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FORM 3 (continued)                                                              

Table II -- Derivative Securities Beneficially Owned                            
      (e.g., puts, calls, warrants, options, convertible securities)

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                                                        [Enlarge/Download Table]

                                                                                                        5. Owner-                   
                                                    3. Title and Amount of Securities                      ship                     
                                                       Underlying Derivative Security                      Form of                  
                         2. Date Exercisable           (Instr. 4)                                          Derivative               
                            and Expiration Date     ---------------------------------    4. Conver-        Securities:              
                            (Month/Day/Year)                               Amount           sion or        Direct      6. Nature of 
                         ----------------------                            or               Exercise       (D) or         Indirect  
                         Date       Expira-                                Number           Price of       Indirect      Beneficial 
1. Title of Derivative   Exer-      tion                                   of               Derivative     (I)            Ownership 
   Security (Instr. 4)   cisable    Date            Title                  Shares           Security       (Instr. 5)     (Instr. 5)
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Stock Option (Right to   (1)        9/18/02         Common Stock           150,000       $0.49          D                           
Buy)                                                                                                                                
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Reminder: Report on a separate line for each class of securities beneficially   
owned directly or indirectly.                               

Explanation of Responses:                                                       

(1)  On  9/18/02, the Reporting Person was granted an option to purchase 150,000
shares  of  Common  Stock.  25%  of  the  option  shall  vest on 9/18/03 and the
remaining  portion  of  the  option  shall  vest  1/36  per  month over the next
thirty-six  (36)  months.                                                       

/S/ DAVID SHAFER                                      11/22/02    
---------------------------------------------            -----------------------
**Signature of Reporting Person                             Date    

*     If the form is filed by more than one reporting person, see Instruction   
5(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).                             

Note:  File three copies of this Form, one of which must be manually signed.    
If space is insufficient, see Instruction 6 for procedure.        

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘3’ Filing		Date		First		Last			Other Filings
		1/31/05		1
Filed on:		11/22/02							4,  4/A
For Period end:		11/20/02							4
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