4 1 file001.txt FORM 4 FORM 4 _________________________________ | OMB APPROVAL | [ ] Check this box if no longer subject _________________________________ to Section 16. Form 4 or Form 5 | OMB Number: 3235-0287 | obligations may continue. See | Expires: January 31, 2005 | Instruction 1(b). | Estimated average burden | | hours per response.......0.5 | _________________________________ 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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 (Print or Type Responses) ------------------------------------------------------------------------------- 1. Name and Address of Reporting Person* Scibelli James ----------------------------------------------------- (Last) (First) (Middle) c/o Roberts & Green One Hollow Lane Suite 208 ----------------------------------------------------- (Street) Lake Success NY 11042 ----------------------------------------------------- (City) (State) (Zip) ------------------------------------------------------------------------------- 2. Issuer Name and Ticker or Trading Symbol Acclaim Entertainment, Inc. (AKLM) ------------------------------------------------------------------------------- 3. IRS or Social Security Number of Reporting Person (Voluntary) ------------------------------------------------------------------------------- 4. Statement for Month/Year May 2002 ------------------------------------------------------------------------------- 5. If Amendment, Date of Original (Month/Year) ------------------------------------------------------------------------------- 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) [X] Director [ ] 10% Owner [ ] Officer (give title below) [ ] Other (specify below) -------------------------------------------------- ------------------------------------------------------------------------------- 7. 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 --------------------------------------------------------------------------------------------------------------------------------- 5. Amount of 6. Owner- Securities ship 2. Trans- 3. Trans- 4. Securities Acquired (A) Beneficially Form: action action or Disposed of (D) Owned at Direct 7. Nature of Date Code (Instr. 3, 4 and 5) End of (D) or Indirect 1. Title of Security (Month/ (Instr. 8) -------------------------- Month Indirect Beneficial (Instr. 3) Day/ ---------- Amount (A) or Price (Instr. (I) Ownership Year) Code V (D) 3 and 4) (Instr. 4) (Instr. 4) --------------------------------------------------------------------------------------------------------------------------------- Common Stock, par value $0.02 per share 5/13/02 M 10,000 (A) $1.25 (D) --------------------------------------------------------------------------------------------------------------------------------- Common Stock, par value $0.02 per share 5/28/02 G 10,000 (D) -- 0 --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- 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 person, see Instruction 4(b)(v). POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM ARE NOT (OVER) REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER.
FORM 4 (CONTINUED)
TABLE II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g. puts, calls, warrants, options, convertible securities) ----------------------------------------------------------------------------------------------------------------------------------- 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. ----------------------------------------------------------------------------------------------------------------------------------- Title and Ownership Number of Date Exer- Amount of Form of Derivative cisable and Underlying Number of Deriv- Securities Expiration Securities Price Derivative ative Conver- Trans- Acquired (A) Date (Month/ (Instr. 3 of Securities Security: sion or Trans- action or Disposed Day/Year) and 4) Deriv- Benefi- Direct Exercise action Code of (D) -------------- -------------- ative cially (D) or Nature of Title of Price of Date (Instr. (Instr. 3, Date Amount Secur- Owned at Indirect Indirect Derivative Deriv- (Month/ 8) 4 and 5) Exer- Expir- or Num- ity End of (I) Beneficial Security ative Day/ -------- ---------- cis- ation ber of (Instr. Month (Instr. Ownership (Instr. 3) Security Year) Code V (A) (D) able Date Title Shares 5) (Instr. 4) 4) (Instr. 4) ----------------------------------------------------------------------------------------------------------------------------------- Warrant: Right to Common Buy (1) $1.25 5/13/02 M 10,000 (1) (1) Stock 10,000 -- 20,000 (D) ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses: (1) On March 12, 2001, the Issuer's senior secured third-party lender entered into junior participation agreements with certain Junior Participants (including the Reporting Person), under and pursuant to the terms of its existing Revolving Credit and Term Loan Agreement with the Bank and related documentation. As an inducement to such Junior Participants to effect the participation, five-year warrants to purchase up to an aggregate of 2,375,000 shares of common stock of the Issuer were issued to such Junior Participants at an initial exercise price of $1.25 per share, to be allocated among the Junior Participants based on the Junior Participant's pro rata portion of its participation. In this regard, the Reporting Person received a warrant to purchase 125,000 shares of common stock of the Issuer in connection with his participation. The Reporting Person has partially exercised this warrant; he retains the right to acquire 20,000 shares of common stock of the Issuer. /s/ James Scibelli 6/5/02 ---------------------------------------- -------------------- ** Signature of Reporting Person Date ** 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 provided is insufficient, see Instruction 6 for procedure. Potential persons who are to 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. Page 4