4 1 form4hs041003a.txt FORM 4 U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB Number: 3235-0287Expires: January Filed pursuant to Section 16(a) of the Securities Exchange 31, 2005 Act of 1934, Section 17(a) of the Public Utility Estimated average burdenhours per Holding Company Act of 1935 or Section 30(h) of the response................ 0.5 Investment Company Act of 1990 U Check this box if no longer subjectto Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b) 1. Name and Address of 2. Issuer Name and Ticker or Trading Symbol6. Relationship of Reporting Reporting Person* Person(s) to Issuer Orbit International Corp. ("ORBT") (Check all applicable) Director Sylvan, Harlan 10% Owner (*) Officer (give title Other (specify below) below) (*) Resigned as Treasurer, effective 04/04/03 (Last) 3. I.R.S. 4. Statement for Month/Day/Year (First) (Middle) Identification 04/10/03 Number ofReporting Person, if an entity (voluntary) 80 Cabot Court (Street) 5. If Amendment, Date of Original (Month/Day/Year)7. Individual or Joint/Group Filing (Check applicable line) Hauppauge, New York x Form filed by One 11788 Reporting Person Form filed by More than One Reporting Person (City)(State) (Zip) TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED 1. Title of Security 2. 2A. Deemed3. Transaction Code4. Securities 5. 6. 7. (Instr. 3) Transaction Execution Date, if Acquired (A) orAmount ofOwnership Nature of any (Instr. 8) Disposed of (D) Securities Form: Indirect Beneficial Ownership Date (Month/Day/Year) (Instr. 3, 4 BeneficiallyOwned Direct (Instr. 4) and 5) Following (D) or (Month/ Day/ Year) Reported Transaction(s) (Instr. 3 Indirect (I) and 4) (Instr. 4) Code V Amount (A) or(D) Price Common Stock M 30,000 (A) $1.97 30,000 04/10/03 (1) Common Stock 30,000 (D) $4.10 04/10/03 (2) S 0 FORM 4 (CONTINUED) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES) 1. Title 2. 3. Trans- 3A. DeemedExecution 4. Transaction Code (Instr.8)5. Number of 6. Date7. Title 8. 9. 10. Owner-ship 11. Natureof Indirect BeneficialOwnership of DerivativeSecurityaction Date (Month/ Day/ Year)Date, ifDerivative and Amount of Underlying Securities Price of Number ofDerivativeSecuritiesForm ofDerivativeSecurities:(Instr. 4) (Instr. 3) Conversion or Exerciseany Exercisable and (Instr. 3 Beneficially Owned Direct (D) Price of (Month/Day/Year) Expiration Date (Month/Day/Year)and 4) Derivative SecurityFollowing ReportedTransaction(s)or DerivativeSecurity Securities (Instr. 5)(Instr. 4) Acquired Indirect (I) (A) or (Instr. 4) Disposed of (D) (Instr. 3, 4, and 5) Date ExpirationDateTitle Exercisable Amount or Number ofShares Code V (A) (D) Option to $1.97 04/10/03(1) N/A M 30,000 N/A N/ACommonStock30,000 16,666 (D) Purchase Common Stock Explanation of Responses: (1) On April 10, 2003, Harlan Sylvan exercised his option (the "Option") to purchase 30,000 shares of common stock of Orbit International Corp. ("the Company") at an exercise price of $1.97 per share. (2) On April 10, 2003, Harlan Sylvan disposed of the 30,000 shares of common stock of the Company he acquired upon exercise of the Option at a purchase price of $4.10 per share. /s/ Harlan Sylvan 04/10/03______ ** Signature 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.