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 *
Ying Charles
   2. Issuer Name and Ticker or Trading Symbol
BITSTREAM INC [BITS] 		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)
C/O BITSTREAM INC., 245 FIRST STREET, 17TH FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
05/17/2007
(Street)

CAMBRIDGE, MA 02142		 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
Class A Common Stock 05/17/2007   X   20,000 A $ 2 145,291 D  
Class A Common Stock 05/17/2007   S   20,000 D $ 7.5272 125,291 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
Stock Option $ 2 05/17/2007   X     20,000 08/04/1998 08/03/2007 Class A Common Stock 20,000 $ 2 470,000 (1) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Ying Charles
C/O BITSTREAM INC.
245 FIRST STREET, 17TH FLOOR
CAMBRIDGE, MA 02142		   X      

Signatures

 Charles Ying   05/18/2007
**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) The reporting person beneficially owns the following options to purchase Class A Common Stock of the Company (i) an option granted on 08/04/1997 to purchase 130,000 shares at $2.00 per share, which option expires on 08/04/2007 and is fully vested; (ii) an option granted on 08/05/1997 to purchase 150,000 shares at $2.00 per share, which option expires on 08/05/2007 and is fully vested; (iii)an option granted on 04/22/1998 to purchase 150,000 shares at $1.875 per share, which option expires on 04/22/2008 and is fully vested; (iv) an option granted on 11/05/2001 to purchase 20,000 shares at $3.96 per share, which expires on 11/02/2011 and is fully vested;(v)an option granted on 09/29/2004 to purchase 10,000 shares at $1.61 per share, which expires on 09/29/2014 and of which 6,666 is vested and 3,334 vest on 09/29/2007; and (vi) an option granted on 08/03/2006, which expires on 08/03/2016 and of which 2,500 shares equally vest each on 08/03/2007, 08/03/2008, 08/03/2009, and 08/03/2010.

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