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 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * De-Saban Shmuel (Last) (First) (Middle) 22 SHACHAM STREET PO BOX 8091 (Street) PETACH TIKVA L3 49180 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 01/31/2016	3. Issuer Name and Ticker or Trading Symbol OWC Pharmaceutical Research Corp. [ OWCP ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) former CFO	5. If Amendment, Date of 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

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	195,416	D

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: 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
Option	12/15/2016 (1)	12/15/2021	Common Stock	750,000	0.05	D

Explanation of Responses:

1. On December 15, 2016, the Company granted Mr. De-Saban 750,000 options under its 2016 ESOP. The options are exercisable at $0.05 and are subject to the provisions of the applicable Israeli laws. They are held by a trustee and may not be exercisable and sold until 2 years of the date of grant. Nevertheless, these options vest 1/3 on the date of grant and 8.33% vest on a quarterly basis. As a result of Mr. De-Seban's resignation on June 12, 2017, only 309,375 have vested and the remainder have beed returned to the ESOP and are subject to future grants.

	Shmuel De-Saban	06/21/2017
	** Signature of Reporting Person	Date
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