-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CEQTBP9wVXckG5I2YXZSewVHVwqLDkkjTc2sJ8cfhaIWGiivKLgV//Zcy5mrObMT 5pD2C4neZgnBtQn6WZrdBA== 0000074818-96-000007.txt : 19960515 0000074818-96-000007.hdr.sgml : 19960515 ACCESSION NUMBER: 0000074818-96-000007 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19960514 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ORBIT INTERNATIONAL CORP CENTRAL INDEX KEY: 0000074818 STANDARD INDUSTRIAL CLASSIFICATION: MEN'S & BOYS' FURNISHINGS, WORK CLOTHING, AND ALLIED GARMENTS [2320] IRS NUMBER: 111826363 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-17876 FILM NUMBER: 96563747 BUSINESS ADDRESS: STREET 1: 80 CABOT CT CITY: HAUPPAUGE STATE: NY ZIP: 11788 BUSINESS PHONE: 5164358300 MAIL ADDRESS: STREET 1: 80 CABOT COURT STREET 2: 80 CABOT COURT CITY: HAUPPAUGE STATE: NY ZIP: 11788 FORMER COMPANY: FORMER CONFORMED NAME: ORBIT INSTRUMENT CORP DATE OF NAME CHANGE: 19911015 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: REISSMAN BRUCE CENTRAL INDEX KEY: 0001005977 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 80 CABOT COURT CITY: HAUPPAUGE STATE: NY ZIP: 11788 BUSINESS PHONE: 5164358300 MAIL ADDRESS: STREET 1: C/O ORBIT INTERNATIONAL CORP STREET 2: 80 CABOT CT CITY: HAUPPAUGE STATE: NY ZIP: 11788 SC 13D 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Amendment No. 1) Under the Securities Exchange Act of 1934 ORBIT INTERNATIONAL CORP. (Name of Issuer) Common Stock, no par value (Title of Class of Securities) 685559-10-6 (CUSIP Number) COPY TO: Mary Anne E. Busse, Esq. Squadron, Ellenoff, Plesent & Sheinfeld, LLP 551 Fifth Avenue New York, New York 10176 (212) 661-6500 (Name, Address and Telephone Number of Person Authorized to Receive Notice and Communications) March 11, 1996 (Date of Events which Requires filing of this statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d- 1(b)(3) or (4), check the following box: [ ] Check the following box if a fee is being paid with the statement: [ ] (A fee is not required only if the reporting person (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that Section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP NO. 685559-10-6 Page of 6 Pages 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON Bruce Reissman 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS 00 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF 7 SOLE VOTING POWER SHARES 953,614* BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER REPORTING - 0 - PERSON WITH 9 SOLE DISPOSITIVE POWER 953,614* 10 SHARED DISPOSITIVE POWER - 0 - 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 953,614* 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.79%* 14 TYPE OF REPORTING PERSON IN *Assumes exercise of currently exercisable options to purchase 260,000 shares of Common Stock. **SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 Statement on Schedule 13D Pursuant to Rule 13d-1 under the Securities Exchange Act of 1934 The undersigned hereby amends Items 3, 4 and 5 of the Schedule 13D filed by him with respect to the common stock, par value $.10 (the "Common Stock"), of Orbit International Corp., a Delaware corporation (the "Company"). Unless otherwise indicated, all terms referred to herein shall have the same meanings as those set forth in the previously filed Schedule 13D. Item 3. Source and Amount of Funds or Other Consideration. Should any options be exercised, the undersigned anticipates that the source of consideration paid to the Company upon exercise would be personal funds. Item 4. Purpose of the Transaction. The options were granted to Mr. Reissman pursuant to the Company's 1995 Employee Stock Option Plan. Item 5. Interest in Securities of the Issuer. As of the date hereof, pursuant to the provisions of Rule 13d-3, Mr. Reissman is the beneficial owner of 953,614 shares of Common Stock. Such 953,614 shares of Common Stock constitute approximately 14.79% of the total number of shares of Common Stock deemed to be outstanding (based solely upon 6,186,093 shares outstanding as of April 29, 1996 according to the Company's proxy statement filed with the Securities and Exchange Commission on April 30, 1996.) On September 11, 1995, Mr. Reissman was granted options to purchase 260,000 shares of Common Stock, subject to stockholder approval, under the Company's 1995 Employee Stock Option Plan. Stockholder approval was obtained on December 18, 1995. The options are subject to a six month vesting period. Accordingly, the options vested on March 11, 1996 and are currently exercisable. Mr. Reissman has sole power to vote and to direct the vote of all the shares of Common Stock owned by him and to dispose of and to direct the disposition of all of the shares of Common Stock owned by him. Other than the options to purchase 260,000 shares of Common Stock granted to Mr. Reissman on September 11, 1995, Mr. Reissman has effected no other transactions in the equity securities of the Company during the last 60 days. S IGNATURE After reasonable inquiry and to his best knowledge and belief, the undersigned hereby certifies that the information set forth in this Statement is true, complete, and correct. /s/ Bruce Reissman May 14, 1996 Bruce Reissman -----END PRIVACY-ENHANCED MESSAGE-----