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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT 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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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
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. | SEC 1474 (9-02) |
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) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (Right to Buy) | $ 1 | 07/30/2007 | D(1) | 39,000 | 09/30/2002 | 08/16/2007(1) | Common Stock | 39,000 | $ 0 | 418,300 | I | Held by the Estate of Edwin H. Wegman | |||
Stock Option (Right to Buy) | $ 1.1 | 07/30/2007 | D(1) | 100,000 | 01/23/2006 | 08/16/2007(1) | Common Stock | 100,000 | $ 0 | 318,300 | I | Held by the Estate of Edwin H. Wegman | |||
Stock Option (Right to Buy) | $ 1 | 07/30/2007 | A(1) | 39,000 | (1) | 09/29/2012(1) | Common Stock | 39,000 | $ 0 | 357,300 | I | Held by the Estate of Edwin H. Wegman | |||
Stock Option (Right to Buy) | $ 1.1 | 07/30/2007 | A(1) | 100,000 | (1) | 01/22/2011(1) | Common Stock | 100,000 | $ 0 | 457,300 | I | Held by the Estate of Edwin H. Wegman |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Wegman Thomas 1764 BRIAR PLACE MERRICK, NY 11566 |
X | X | President |
/s/Thomas L. Wegman | 08/16/2007 | |
**Signature of Reporting Person | Date |
* | 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 four reported transactions involved an amendment of two outstanding options (by extension of their expiration dates), resulting in the deemed cancellation of the two "old" options and the grant of two replacement options. The option expiration dates were amended under the following circumstances: under the Issuer's 2001 Employee Stock Option Plan, the Estate of Edwin H. Wegman was required to exercise all options held by the estate by midnight on August 16, 2007 because all options expire 6 months from the death of the option holder. At the request of the Estate of Edwin H. Wegman, on July 30, 2007, the Board of Directors of the Issuer extended the expiration dates of the two options from August 16, 2007 to their original expiration dates, September 29, 2012 and January 22, 2011, respectively. The deemed cancellation of the two "old" options and the grant of two replacement options are reported in this form. |