- Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Expires: November 30, 2011 Estimated average burden hours per response... 0.5
	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

1. Name and Address of Reporting Person ^*

Gottschalk Donald E.

2. Date of Event Requiring Statement (MM/DD/YYYY) 6/3/2011

3. Issuer Name and Ticker or Trading Symbol

VALENCE TECHNOLOGY INC [VLNC]

(Last) (First) (Middle)

C/O VALENCE TECHNOLOGY, 12303 TECHNOLOGY BLVD., SUITE 950

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director _____ 10% Owner
___ X ___ Officer (give title below) _____ Other (specify below)
Acting Chief Financial Officer /

(Street)

AUSTIN, TX 78727

(City) (State) (Zip)

5. If Amendment, Date Original Filed (MM/DD/YYYY)

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	4000	D

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		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)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Option (right to buy)	⁽¹⁾	8/13/2017	Common Stock	12000	$1.15	D
Employee Stock Option (right to buy)	⁽²⁾	12/19/2018	Common Stock	30000	$2.80	D
Employee Stock Option (right to buy)	⁽³⁾	4/1/2021	Common Stock	15000	$1.56	D

Explanation of Responses:
( 1)	The option is exercisable in 13 installments. The first installment became exercisable for 3,000 shares on August 13, 2008 and each of the remaining installments become exercisable for 750 shares in 12 equal quarterly installments measured from August 13, 2008.
( 2)	The option is exercisable for 2,500 shares in each of 12 equal quarterly installments measured from December 19, 2008.
( 3)	The option is exercisable in 13 installments. The first installment becomes exercisable for 3,750 shares on April 1, 2012 and the remaining installments each become exercisable for 938 shares per quarter thereafter measured from April 1, 2012, except for the final installment on April 1, 2015 for 932 shares.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Gottschalk Donald E. C/O VALENCE TECHNOLOGY 12303 TECHNOLOGY BLVD., SUITE 950 AUSTIN, TX 78727			Acting Chief Financial Officer

Signatures
/s/ Donald E. Gottschalk		2/3/2012
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	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).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.