FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF 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 *   Komet Alan 2. Date of Event Requiring Statement (Month/Day/Year) 10/28/2015 3. Issuer Name and Ticker or Trading Symbol FALCONSTOR SOFTWARE INC [FALC] (Last) (First) (Middle) 2 HUNTINGTON QUADRANGLE 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP Worldwide Field Operations 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) MELVILLE, NY 11747 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 Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 225,015 (1) D Â

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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	  (2)	05/09/2023	A	20,000	$ 1.36	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Komet Alan 2 HUNTINGTON QUADRANGLE MELVILLE, NY 11747	Â	Â	  EVP Worldwide Field Operations	Â

Signatures

/s/ Louis J. Petrucelly as Attorney-in-Fact		11/05/2015
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(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)	Consists of (i) 15 shares of Common Stock, (ii) 100,000 shares of Restricted Stock, 1/3 of which vest on each of the next three anniversaries of the April 21, 2015 grant date, and (iii) 125,000 shares of Restricted Stock that vest upon the satisfaction of various performance criteria.
(2)	The options were granted under the Company's 2006 Incentive Stock Plan, as amended. 6,600 of the options became exercisable on May 9, 2014, an additional 6,600 of the options became exercisable on May 9, 2015, and the remaining 6,800 of the options will become exercisable on May 9, 2016.

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