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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1. Name and Address of Reporting Person * MABRY RONALD H   2. Issuer Name and Ticker or Trading Symbol LOGICVISION INC [LGVN] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Vice President (Last) (First) (Middle) C/O LOGICVISION INC, 25 METRO DRIVE THIRD FLOOR 3. Date of Earliest Transaction (Month/Day/Year) 03/08/2007 (Street) SAN JOSE, CA 95110 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

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

Option to purchase common stock

$ 3.25

03/08/2007

D

130,000

(1)

08/01/2013

Common Stock

130,000

$ 0

0

D

Option to purchase common stock

$ 1

03/08/2007

A

104,000

(2)

03/08/2017

Common Stock

104,000

$ 0

104,000

D

Option to purchase common stock

$ 4.85

03/08/2007

D

40,000

(1)

02/06/2014

Common Stock

40,000

$ 0

0

D

Option to purchase common stock

$ 1

03/08/2007

A

32,000

(2)

03/08/2017

Common Stock

32,000

$ 0

32,000

D

Option to purchase common stock

$ 2.64

03/08/2007

D

80,000

(1)

02/18/2015

Common Stock

80,000

$ 0

0

D

Option to purchase common stock

$ 1

03/08/2007

A

64,000

(2)

03/08/2017

Common Stock

64,000

$ 0

64,000

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MABRY RONALD H C/O LOGICVISION INC 25 METRO DRIVE THIRD FLOOR SAN JOSE, CA 95110			Vice President

Signatures

Ronald H. Mabry		03/09/2007
**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)	Each of the options cancelled as part of the 2007 options exchange were to vest over four years from the grant date.
(2)	50% of the shares subject to the option become exercisable on 09/08/2007. The remaining shares become exercisable ratably over the following six months.
Remarks: On March 8, 2007, the issuer cancelled, pursuant to an option exchange program, options granted to the reporting person which are reported as dispositions on this Form 4. In exchange for these options, the reporting person was granted new options which are reported as acquistions on this Form 4.

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