SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
BOLEN CLIFFORD K

(Last) (First) (Middle)
C/O VITA FOOD PRODUCTS, INC.
2222 W. LAKE STREET

(Street)
CHICAGO IL 60612

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
VITA FOOD PRODUCTS INC [ VSF ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
CFO and COO
3. Date of Earliest Transaction (Month/Day/Year)
03/20/2006
4. 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 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 1,719(1) D
Common Stock 03/20/2006 P 100,000 A $2.5 100,000 I By immediate family members
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 Securities Underlying Derivative Security (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: 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
Stock option $2.65 12/05/2002(3) 12/05/2011 Common Stock 10,000 10,000 D
Stock Option $1.75 12/14/2001(2)(3) 12/14/2010 Common Stock 30,000 30,000 D
Stock Option $4.03 12/11/2003(4) 12/11/2012 Common Stock 20,000 20,000 D
Warrants $5 03/20/2006 P 50,000 03/20/2006 03/20/2009 Common Stock 50,000 $5 50,000 I By immediate family members
Warrants $7.5 03/20/2006 P 50,000 03/20/2006 03/20/2011 Common Stock 50,000 $7.5 50,000 I By immediate family members
Explanation of Responses:
1. The reporting person acquired such shares under the Company's Employee Stock Purchase Plan as follows: 650 shares at $3.995 per share on June 30, 2004; 467 shares at $3.239 per share on December 31, 2004; and 602 at $2.329 per share on June 30, 2005.
2. The option vested in increments of 6,000 shares on each of December 14, 2001, 2002, 2003, 2004 and 2005.
3. The option was originally granted on December 5, 2001 and vested in increments of 2,000 shares on each of December 5, 2002, 2003, 2004, 2005 and 2006. On December 29, 2005, the Board of Directors accelerated the vesting of the option such that it became vested in full.
4. The option was originally granted on December 11, 2002 and vested in five equal annual installments beginning on December 11, 2003. On December 29, 2005, the Board of Directors accelerated the vesting of the option such that it became vested in full.
Remarks:
Clifford K. Bolen 03/22/2006
** 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 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).
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 Number.