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*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
SERVOTRONICS INC /DE/ [ SVT ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 02/04/2008 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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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 | 15,814(1) | D | ||||||||
Common Stock | 80,110.365(2) | I | By ESOT |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 | ||||||||
Options (Right to Buy) | $8.5 | 02/04/2008 | D | 12,600 | (4) | 03/23/2008 | Common Stock | 12,600 | $6.7(3) | 0 | D | ||||
Options (Right to Buy) | $8.5 | 02/04/2008 | D | 5,800 | (4) | 03/23/2008 | Common Stock | 5,800 | $6.7(3) | 0 | D | ||||
Options (Right to Buy) | $3.8125 | (4) | 07/06/2010 | Common Stock | 18,400 | 18,400 | D | ||||||||
Options (Right to Buy) | $4.38 | (4) | 09/05/2011 | Common Stock | 24,000 | 24,000 | D | ||||||||
Options (Right to Buy) | $2.045 | (4) | 04/10/2013 | Common Stock | 27,000 | 27,000 | D | ||||||||
Options (Right to Buy) | $4.7 | (4) | 12/29/2015 | Common Stock | 15,000 | 15,000 | D |
Explanation of Responses: |
1. Does not include the shares reported by the reporting person's father, Dr. Nicholas D. Trbovich, who files Section 16(a) reports under his own name. |
2. As of the date hereof, includes 25,340.385 shares allocated to the reporting person's account under the Company's Employee Stock Ownership Trust (the "ESOT") as well as shares allocated to the ESOT accounts of the reporting person's father, Dr. Nicholas Trbovich, and the reporting person's brothers, Michael Trbovich and Kenneth Trbovich, that the reporting person is required to report pursuant to Rule 16a-8(b)(2). The reporting person disclaims beneficial interest in the 54,769.98 shares allocated to his family members' ESOT accounts. |
3. Pursuant to an amendment to the applicable stock option agreement, the reporting person elected to surrender these unexercised options to the Company in exchange for a cash payment equal to the difference between the exercise price and the average of the high and the low market price of the Company's common stock on the day of surrender ($15.22) less an administrative charge. |
4. All of the options are currently exercisable. |
Remarks: |
Nicholas D. Trbovich, Jr. | 02/06/2008 | |
** 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. |