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 *
ALARA CAPITAL AVI II, LLC
   2. Issuer Name and Ticker or Trading Symbol
GIGA TRONICS INC [GIGA] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
555 E. LANCASTER AVENUE, SUITE 520		 3. Date of Earliest Transaction (Month/Day/Year)
02/23/2015
(Street)

RADNOR, PA 19087		 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 02/23/2015   X   178,383 A $ 1.43 1,002,818 D  

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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
Warrant to Purchase Common Stock (right to buy) $ 1.43 02/23/2015   X(1)     178,383 07/08/2013 01/08/2016 Common Stock (GIGA) 178,383 $ 0 14,587 D  
Warrant to Purchase Common Stock (right to buy) $ 1.76 02/23/2015   P(2)   194,437   02/13/2015 02/23/2020 Common Stock (GIGA) 194,437 $ 0.125 194,437 D  
Warrant to Purchase Common Stock (right to buy) $ 1.78             02/16/2015 02/16/2020 Common Stock (GIGA) 898,634   898,634 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
ALARA CAPITAL AVI II, LLC
555 E. LANCASTER AVENUE
SUITE 520
RADNOR, PA 19087		   X   X    

Signatures

 /s/ Darren C. Wallis, Managing Member, Alara Capital AVI II, LLC   02/25/2015
**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) Pursuant to the terms of a Securities Purchase Agreement dated February 16, 2015, as amended (the "SPA"), the Reporting Person exercised warrants to purchase 178,383 shares of common stock of the Issuer at a exercise price of $1.43 per share.
(2) Pursuant to the SPA, the Reporting Person purchased a warrant to purchase shares of common stock of the Issuer at an exercise price of $1.78 per share (the "New Warrant"). The Reporting Person paid the Issuer $0.125 per underlying shares for the issuance of the New Warrant.

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