4 1 0001.txt
FORM 4 [ ] Check this box if no longer U.S. SECURITIES AND EXCHANGE COMMISSION subject to Section 16. Form Washington, D.C. 20549 4 or Form 5 obligations may continue. See Instruction 1(b). STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP 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(f) of the Investment Company Act of 1940 1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person to Issuer (Check all applicable) Lancer Partners, Limited Partnership DRS Technologies, Inc. (f/k/a Diagnostic\ ___ Director _X_ 10% Owner __________________________________________ ___Retrieval Systems, Inc. (DRS)_____________ ___ Officer (give ___ Other (Specify (Last) (First) (Middle) 3. IRS or Social 4. Statement for title below) below) Security Number of Month/Year 475 Steamboat Road Reporting Person (Voluntary) October 2000 ____________________________________________ ___________________________________________________________ (Street) 5. If Amendment, Date of 7. Individual or Joint/Group Filing Original (Month/Year) (Check Applicable Line) Greenwich Connecticut 06930 ___ Form Filed by One Reporting Person __________________________________________ _X_ Form Filed by More Than One (City) (State) (Zip) Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 5. Amount of 3. Trans- 4. Securities Acquired (A) Securities 2. Trans- action or Disposed of (D) Beneficially 6. Ownership action Code (Instr. 3, 4 and 5) Owned at Form: 7. Nature of Date (Instr. --------------------------- End of Direct(D) Indirect (Month/ 8) (A) Month or Beneficial 1. Title of Security Day/ Amount or Price (Instr. Indirect(I) Ownership (Instr.3) Year) (D) 3 and 4) (Instr. 4) (Instr. 4) ----------------------------- --------- ---------- -------- --- -------- ------------ ------------- ------------ Common Stock, $.01 par value N/A* N/A* N/A* N/A* N/A* 549,750 D per share Common Stock, $.01 par value N/A* N/A* N/A* N/A* N/A* 27,800 I See p. 3 of per share Attached Common Stock, $.01 par value N/A* N/A* N/A* N/A* N/A* 1,151,350 I See p. 3 of per share Attached Total 1,728,900 * If this form is filed by more than one Reporting Person, see Instruction 4(b)(v). Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Print or Type Responses)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) 2. Conver- 5. Number of Deriv- 6. Date Exercisable sion or 3. Trans- 4. Trans- ative Securities and Expiration Date Exercise action action Acquired (A) or (Month/Day/Year) Price of Date Code Disposed of (D) ----------------------- Deriv- (Month/ (Instr. 8) (Instr. 3, 4, and 5) Date 1. Title of Derivative Security ative Day/ ----- ---- ----------------------- Exercis- Expiration (Instr. 3) Security Year) Code V (A) (D) able Date ---------------------------------- ----------- ---------- ------------ ----------- ----------- ---------- ---------- Option (right to buy) $17.50 10/12/00 J* 549,750 10/12/00 04/11/01 Option (right to buy) $17.50 10/12/00 J* 27,800 10/12/00 04/11/01 Option (right to buy) $17.50 10/12/00 J* 1,151,350 10/12/00 04/11/01 1,728,900 9. Number of 10. Ownership Derivative Form of Securities Derivative 7. Title and Amount of Underlying Benefi- Security: Securities (Instr. 3 and 4) cially Direct 11. Nature of --------------------------------- 8. Price of Owned (D) or Indirect Amount or Derivative at End Indirect Beneficial 1. Title of Derivative Title Number of Security of Month (I) Ownership Security (Instr. 3) Shares (Instr. 5) (Instr. 4) (Instr. 4) (Instr. 4) ---------------------- -------------------- --------- ------------- ------------- -------------- -------------- Option (right to buy) Common Stock, $0.01 549,750 N/A* N/A* N/A* N/A* par value per share Option (right to buy) Common Stock, $0.01 27,800 N/A* N/A* N/A* N/A* par value per share Option (right to buy) Common Stock, $0.01 1,151,350 N/A* N/A* N/A* N/A* par value per share 1,728,900 Explanation of Responses * See p.3 of attached. LANCER PARTNERS, LIMITED PARTNERSHIP **Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and By: Lancer Management Group, II, LLC, General Partner 15 U.S.C. 78ff(a). By: /s/ Michael Lauer Note: File three copies of this Form, ----------------------- one of which must be manually signed. Michael Lauer If space provided is insufficient, see Instruction 6 Manager for procedure. Date: November 3, 2000 ------------------ Page 2 SEC 1474 (8-92) Designated Filer: Lancer Partners, Limited Partnership Date of Event: 10/12/00 Issuer Name and Symbol: DRS Technologies, Inc. (f/k/a Diagnostic/Retrieval Systems, Inc.) (DRS) ----------------------------------------------------------------------------- This Form 4 is filed by Lancer Partners, Limited Partnership ("Lancer Partners"), Michael Lauer ("Lauer") and Lancer Offshore, Inc. ("Lancer Offshore") (collectively the "Group"; each member of the Group being hereinafter referred to individually as a "Member" and collectively as "Members"). Lauer's principal business address is 475 Steamboat Road, Greenwich, Connecticut 06930. Lancer Partners's principal business address is 475 Steamboat Road, Greenwich, Connecticut 06930. Lancer Management Group II, LLC, a Connecticut limited liability company ("LMG II"), is the sole general partner of Lancer Partners. Lauer is the sole manager and principal member of LMG II and he controls all of its operations and activities and, as such, Lauer has full voting and dispositive power with respect to all of the securities owned by Lancer Partners. Lancer Offshore's principal business address is c/o CITCO Fund Services (Curacao) N.V., Kaya Flamboyan 9, P.O. Box 812, Curacao, Netherlands Antilles. Lancer Management Group, LLC, a Connecticut limited liability company ("LMG"), is the sole investment manager of Lancer Offshore. Lauer is the sole manager and principal member of LMG and he controls all of its operations and activities and as such, has full voting and dispositive power with respect to all of the securities owned by Lancer Offshore. Set forth below are the names of the Members and the amount of securities beneficially owned (all ownership is direct): Amount of Securities Name of Member Beneficially Owned -------------- ------------------ Lancer Partners 549,750 Lauer 27,800 Lancer Offshore 1,151,350 ---------- Total 1,728,900 ========== On October 12, 2000, each of the Members has granted to The Veritas Capital Fund, L.P., a Delaware limited partnership, an option to purchase all shares of DRS Technologies, Inc. common stock they respectively own. Designated Filer: Lancer Partners, Limited Partnership Date of Event: 10/12/00 Issuer Name and Symbol: DRS Technologies, Inc. (f/k/a Diagnostic/Retrieval Systems, Inc.) (DRS) _____________________________________________________________________________ SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: November 3, 2000 LANCER PARTNERS, LIMITED PARTNERSHIP By: Lancer Management Group II, LLC, General Partner By: /s/ Michael Lauer ----------------------- Name: Michael Lauer Title: Manager LANCER OFFSHORE, INC. By: Lancer Management Group, LLC Investment Manager By: /s/ Michael Lauer ----------------------- Michael Lauer, Manager /s/ Michael Lauer ---------------------------- MICHAEL LAUER