Edgar Filing: KEANE GEORGE F

Ownership Submission

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

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

KEANE GEORGE F

2. Issuer Name and Ticker or Trading Symbol
UNIVERSAL STAINLESS & ALLOY PRODUCTS INC [USAP]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

600 MAYER STREET

3. Date of Earliest Transaction (Month/Day/Year)
02/04/2005

(Street)

BRIDGEVILLE, PA 15017

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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
USAP Common Stock	02/04/2005		M		1,274	A	$ 7.3	9,274	D
USAP Common Stock	02/04/2005		M		1,650	A	$ 6.25	10,924	D
USAP Common Stock	02/04/2005		M		825	A	$ 5.34	11,749	D
USAP Common Stock	02/04/2005		M		825	A	$ 5.29	12,574	D
USAP Common Stock	02/04/2005		M		825	A	$ 7.35	13,399	D
USAP Common Stock	02/04/2005		M		825	A	$ 8.45	14,224	D
USAP Common Stock	02/04/2005		S		6,224	D	$ 17.088	8,000	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

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

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

USAP Common Stock Option

$ 7.3

02/04/2005

1,274

08/31/2003⁽¹⁾

08/31/2012

Common Stock

1,274

$ 7.3

25,850

USAP Common Stock Option

$ 6.25

02/04/2005

1,650

11/30/2003⁽²⁾

11/30/2012

Common Stock

1,650

$ 6.25

24,200

USAP Common Stock Options

$ 5.34

02/04/2005

825

02/28/2004⁽³⁾

02/28/2013

Common Stock

825

$ 5.34

23,375

USAP Common Stock Option

$ 5.29

02/04/2005

825

05/31/2004⁽⁴⁾

05/31/2013

Common Stock

825

$ 5.29

22,550

USAP Common Stock Option

$ 7.35

02/04/2005

825

08/31/2004⁽⁵⁾

08/31/2013

Common Stock

825

$ 7.35

21,725

USAP Common Stock Option

$ 8.45

02/04/2005

825

11/30/2004⁽⁶⁾

11/30/2013

Common Stock

825

$ 8.45

20,900

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
KEANE GEORGE F 600 MAYER STREET BRIDGEVILLE, PA 15017	X

Signatures

Paul A. McGrath (AIF)		02/07/2005
^**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).
(1)	825 Options are exercisable 08/31/2003 825 Options are exercisable 08/31/2004 850 Options are exercisable 08/31/2005
(2)	825 Options are exercisable 11/30/2003 825 Options are exercisable 11/30/2004 850 Options are exercisable 11/30/2005
(3)	825 Options are exercisable 02/28/2004 825 Options are exercisable 02/28/2005 850 Options are exercisable 02/28/2006
(4)	825 Options are exercisable 05/31/2004 825 Options are exercisable 05/31/2005 850 Options are exercisable 05/31/2006
(5)	825 Options are exercisable 08/31/2004 825 Options are exercisable 08/31/2005 850 Options are exercisable 08/31/2006
(6)	825 Options are exercisable 11/30/2004 825 Options are exercisable 11/30/2005 850 Options are exercisable 11/30/2006

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