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 *
BAUN THEODORE W.
  2. Issuer Name and Ticker or Trading Symbol
FreightCar America, Inc. [RAIL]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Commercial Officer
(Last)
(First)
(Middle)
TWO NORTH RIVERSIDE PLAZA SUITE 1300
3. Date of Earliest Transaction (Month/Day/Year)
01/12/2018
(Street)

CHICAGO, IL 60606
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 01/12/2018   A(1)   7,353 A $ 0 (2) 21,855 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
Employee Stock Option (right to buy) $ 16.66 01/12/2018   A(3)   57,794     (4) 01/12/2028 Common stock 57,794 $ 0 (5) 57,794 D  
Employee Stock Option (right to buy) $ 16.66 01/12/2018   A(3)   16,182     (6) 01/12/2028 Common stock 16,182 $ 0 (5) 16,182 D  
Employee Stock Option (right to buy) $ 25.55               (7) 01/15/2024 Common stock 14,575   14,575 D  
Employee Stock Option (right to buy) $ 24.56               (8) 01/18/2023 Common stock 8,300   8,300 D  
Employee Stock Option (right to buy) $ 23.4               (9) 01/12/2022 Common stock 16,400   16,400 D  
Employee Stock Option (right to buy) $ 29.88               (10) 01/13/2021 Common stock 10,600   10,600 D  
Employee Stock Option (right to buy) $ 20.69               (11) 02/23/2020 Common stock 7,250   7,250 D  
Employee Stock Option (right to buy) $ 17.84               (12) 05/12/2019 Common stock 1,000   1,000 D  
Performance shares (13)               (14)   (14) Common stock 5,108 (14)   5,108 D  
Performance shares (15)               (16)   (16) Common stock 5,800 (16)   5,800 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
BAUN THEODORE W.
TWO NORTH RIVERSIDE PLAZA SUITE 1300
CHICAGO, IL 60606
      Chief Commercial Officer  

Signatures

 /s/ Georgia L. Vlamis, as attorney in fact   01/16/2018
**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) Exempt issuance of restricted shares under Rule 16(b)-3 pursuant to the Issuer's 2005 Long Term Incentive Plan. These shares were granted on January 12, 2018 and will vest on January 12, 2021. The restricted shares are subject to certain restrictions (including possible forfeiture)
(2) The restricted shares were granted pursuant to the issuer's 2005 Long Term Incentive Plan, for which no consideration was paid by the recipient.
(3) Exempt issuance of options under Rule 16(b)-3 pursuant to the Issuer's 2005 Long Term Incentive Plan
(4) The options vest and become exercisable based on a trailing 90-consecutive calendar day average closing price of one share of the Issuer's common stock (the "Stock Price") in the following proportions, provided the option holder remains continuously employed by the Issuer until the applicable vesting date: 34% of the shares subject to the option vest on the date the Stock Price is equal to or greater than $5.00 per share above the exercise price, an additional 33% of the shares subject to the option vest on the date the Stock Price is equal to or greater than $10.00 per share above the exercise price and the final 33% of the shares subject to the option vest on the date the Stock Price is equal to or greater than $15.00 per share above the exercise price.
(5) The options were granted pursuant to the Issuer's 2005 Long Term Incentive Plan, for which no consideration was paid by the recipient.
(6) The options vest in three equal annual installments beginning on January 12, 2019.
(7) On January 15, 2014 the recipient was granted 14,575 options which are fully vested and currently exercisable.
(8) On January 18, 2013, the recipient was granted 8,300 options which are fully vested and currently exercisable.
(9) On January 12, 2012, the recipient was granted 16,400 options which are fully vested and currently exercisable.
(10) On January 13, 2011, the recipient was granted 10,600 options which are fully vested and currently exercisable.
(11) On February 23, 2010, the recipient was granted 7,250 options which are fully vested and currently exercisable.
(12) On May 12, 2009, the recipient was granted 1,000 options which are fully vested and currently exercisable.
(13) Each performance share represents the right to receive, at settlement, one share of common stock subject to the Issuer's achievement of performance goals.
(14) Vesting of these performance shares depends on the Issuer's annual return on invested capital and basic earnings per share from January 1, 2016 through December 31, 2018. The target number of performance shares is reported. Between 0% and 200% of the target number of shares may vest on December 31, 2018, with the vesting percentage determined based on actual performance.
(15) Each performance share represents the right to receive, at settlement, one share of common stock subject to the Issuer's achievement of performance goals.
(16) Vesting of these performance shares depends on the Issuer's annual return on invested capital and basic earnings per share from January 1, 2017 through December 31, 2019. The target number of performance shares is reported. Between 0% and 200% of the target number of shares may vest on December 31, 2019, with the vesting percentage determined based on actual performance.

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