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 *
Baldwin Nancy
   2. Issuer Name and Ticker or Trading Symbol
NANOPHASE TECHNOLOGIES Corp [NANX] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP Human Resources & IT
(Last)
(First)
(Middle)
1319 MARQUETTE DRIVE		 3. Date of Earliest Transaction (Month/Day/Year)
05/23/2018
(Street)

ROMEOVILLE, IL 60446		 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)
Code V Amount (A) or (D) Price
Common Stock               987 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock (right to purchase) $ 1.02             05/04/2010(1) 05/04/2019 Common Stock 30,000   30,000 D  
Common Stock (right to purchase) $ 1.7             05/03/2011(1) 05/03/2020 Common Stock 27,000   27,000 D  
Common Stock (right to purchase) $ 1.26             05/02/2012(1) 05/02/2021 Common Stock 31,000   31,000 D  
Common Stock (right to purchase) $ 0.3             08/07/2013(1) 08/07/2022 Common Stock 41,000   41,000 D  
Common Stock (right to purchase) $ 0.415             02/14/2014(1) 02/14/2023 Common Stock 39,000   39,000 D  
Common Stock (right to purchase) $ 0.52             02/13/2015(1) 02/13/2024 Common Stock 40,000   40,000 D  
Common Stock (right to purchase) $ 0.44             02/18/2016(1) 02/18/2025 Common Stock 36,000   36,000 D  
Common Stock (right to purchase) $ 0.42             02/23/2017(1) 02/23/2026 Common Stock 31,500   31,500 D  
Common Stock (right to purchase) $ 0.68             02/21/2018(1) 02/21/2027 Common Stock 36,000   36,000 D  
Common Stock (right to purchase) $ 0.82 05/23/2018   A   40,000   05/23/2019(1) 05/23/2028 Common Stock 40,000 $ 0.82 40,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Baldwin Nancy
1319 MARQUETTE DRIVE
ROMEOVILLE, IL 60446		       VP Human Resources & IT  

Signatures

 By Jess Jankowski, under UPA, for Nancy Baldwin   05/24/2018
**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) Subject to certain restrictions, beginning on this date, options vest in three equal annual installments.

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