-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WAfkp7RQARUJdMYxIGfHvo6n/y0dSTZKZVZpGh6jw6rakL0lBnfZAPLA+STlDGRF cXa2L78euNeMZ4HN1wMRmQ== 0000914749-99-000008.txt : 19990518 0000914749-99-000008.hdr.sgml : 19990518 ACCESSION NUMBER: 0000914749-99-000008 CONFORMED SUBMISSION TYPE: 5 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990331 FILED AS OF DATE: 19990517 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CAI WIRELESS SYSTEMS INC CENTRAL INDEX KEY: 0000914749 STANDARD INDUSTRIAL CLASSIFICATION: CABLE & OTHER PAY TELEVISION SERVICES [4841] IRS NUMBER: 061324691 STATE OF INCORPORATION: CT FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 5 SEC ACT: SEC FILE NUMBER: 033-71662 FILM NUMBER: 99628018 BUSINESS ADDRESS: STREET 1: 18 CORPORATE WOODS BLVD STREET 2: THIRD FLOOR CITY: ALBANY STATE: NY ZIP: 12211 BUSINESS PHONE: 5184622632 MAIL ADDRESS: STREET 1: 18 CORPORATE WOODS BLVD STREET 2: 3RD FLOOR CITY: ALBANY STATE: NY ZIP: 12211 COMPANY DATA: COMPANY CONFORMED NAME: ABBRUZZESE JARED E CENTRAL INDEX KEY: 0000924010 STANDARD INDUSTRIAL CLASSIFICATION: [] OFFICER FILING VALUES: FORM TYPE: 5 BUSINESS ADDRESS: STREET 1: 18 CORPORATE WOODS BLVD. STREET 2: THIRD FLOOR CITY: ALBANY STATE: NY ZIP: 12211 MAIL ADDRESS: STREET 1: 18 CORPORATE WOODS BOULEVARD STREET 2: THIRD FLOOR CITY: ALBANY STATE: NY ZIP: 12211 5 1
/ / CHECK BOX IF NO LONGER ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP SUBJECT TO SECTION 16. FORM 4 OR FORM 5 OBLI- Filed pursuant to Section 16(a) of the Securities GATIONS MAY CONTINUE Exchange Act of 1934, Section 17(a) of the Public SEE INSTRUCTION 1(b). Utility Holding Company Act of 1935 or Section 30(f) / / FORM 3 HOLDINGS REPORTED of the Investment Company Act of 1940 /X/ FORM 4 TRANSACTIONS REPORTED - ------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------- 1. Name and Address of Reporting Person*|2. Issuer Name and Ticker or Trading Symbol |6. Relationship of Reporting Person(s) | | |to Issuer | ABBRUZZESE, JARED E. | CAI WIRELESS SYSTEMS, INC.(CWSS) |(Check all applicable) | (Last) (First) (Middle)| ----------------------------------- |_X__ Director ____ 10% Owner | |3. I.R.S. Identification 4. Statement for |_X__ Officer (give ____ Other | | Number of Reporting Month/Year | title (specify | 18 CORPORATE WOODS BOULEVARD | Person, if an entity March 1999 | below) below) | (Street) | (voluntary) 5. If Amendment, | CEO AND CHAIRMAN | | Date of |7. Individual or Joint/Group Reporting | ALBANY, NEW YORK 12211 | Original | (check applicable line) | (City) (State) (Zip) | (Month/Year) | _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 |2. Transaction |3. Transaction |4. Securities Acquired (A)|5. Amount of |6. Ownership |7. Nature of| (Instr. 3) |Date (Month/ |Code (Instr. 8) |or Disposed of (D) |Beneficially |Form: Direct |Indirect | |Day/Year) | |(Instr. 3,4 and 5) |Owned at end |(D) or |Beneficial | | | | ----------------------- |of Issuer's |Indirect (I) |Ownership | | | | | | |Fiscal Year |(Instr. 4) |(Instr. 4) | | | | |(A) or| |(Instr. 3 | | | | | | Amount | (D) | Price |and 4) | | | | | | | | | | | | - -------------------------------------------------------------------------------------------------------------------------------| None | | | | | | | | | | | | | | | | | | | | | | | | | | | - -------------------------------------------------------------------------------------------------------------------------------|
FORM 5 (continued Table II - Derivative Securities Acquired, Disposed of, Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
- ---------------------------------------------------------------------------------------------------------------------------------- 1.Title |2.Conver-|3.Trans- |4.Trans- |5.Number of |6.Date |7. Title and |8. Price |9. Number |10. Owner- |11. Nature| of |sion or |action |action |Derivative |Exercisable |Amount of |of Deriva-|of Deri- |ship of |of | Derivative|Exercise |Date |Code |Securities |and Expiration |Underlying |tive |vative |Derivative |Indirect | Security |Price of |(Month/ |(Instr. |Acquired(A) |Date(Month/ |Securities |Security |Securities|Security: |Beneficial| (Instr.3) |Deriva- |Day/Year)|8) |or Disposed |Day/Year) |(Instr.3 |(Instr.5) |Benefic- |Direct (D) |Ownership | |tive | | |of(D) | |and 4) | |ially |or Indirect|(Inst. 4) | |Security | | |(Instr. 3, |----------------|--------------| |Owned at |(I) | | | | | |4 and 5) |Date | Expira-| |Amount | |End of |(Instr. 4) | | | | | |-------------|Exer- | tion |Title |Number | |Year | | | | | | |(A) | (D) |cisable| Date | |of | |(Instr.4) | | | | ($) | | | | | | | |Shares | | | | | - ----------|---------|---------|---------|-----|-------|-------|--------|------|------ |----------|----------|-----------|----------| Option to | * |01/19/99 | D4* | |432,510| * | * |Common|432,510| * | 0 | | | Purchase | | | | | | | |Stock | | | | | | - ----------|---------|---------|---------|-----|-------|-------|--------|------|--- ---|----------|----------|-----------|----------| Option to | $0.875 |01/19/99 | A4** | ** | | ** | ** |Common|300,000| ** | ** | (D) | | Purchase | | | | | | | |Stock | | | | | | - ----------|---------|---------|---------|-----|---- -|-------|--------|------|--- ---|----------|----------|-----------|----------|
Explanation of Responses: SEE ATTACHED PAGE.
** Intentional misstatements or omissions of facts /s/ Jared E. Abbruzzese 5-17-99 constitute Federal Criminal Violations, ** Signature of Reporting Person Date 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 number. Form 5 - Statement of Changes in Beneficial Ownership Reporting Person: Jared E. Abbruzzese (the "Reporting Person") CAI Wireless Systems, Inc. (the "Issuer") Explanation of Responses * The Reporting Person was awarded options to purchase 432,510 shares of common stock, par value $.01 per share (the "CAI Common Stock"), of CAI Wireless Systems, Inc. on October 14, 1998 pursuant to the Issuer's Plan of Reorganization and Issuer's 1998 Stock Option Plan (the "Option Plan"). The Reporting Person's award consisted of options to purchase 86,502 shares of CAI Common Stock having an exercise price of $4.76 per share, options to purchase 86,502 shares of CAI Common Stock having an exercise price of $6.78 per share, options to purchase 86,502 shares of CAI Common Stock having an exercise price of $8.79 per share and options to purchase 173,004 shares of CAI Common Stock having an exercise price of $10.81 per share. All options granted to the Reporting Person were to vest upon the occurrence of a "Trigger Event," as defined in the Option Plan. The options expired on the tenth anniversary of the granting thereof, provided that unvested options lapse and expire to the extent of 50% thereof after the 18-month anniversary of the granting thereof and 100% thereof lapse and expire after the 24-month anniversary of the granting thereof. On January 19, 1999, Reporting Person surrendered these options in exchange for options to purchase 300,000 shares of CAI Common Stock, more fully described below. ** On January 19, 1999, the Reporting Person was awarded options to purchase 300,000 shares of CAI Common Stock under the Option Plan. These options have an exercise price of $0.875 per share and vest on the earlier to occur of (i) a change of control of Issuer, (ii) consummation of a material third party acquisition or merger, a material equity investment in Issuer, a material joint venture and/or take-or-pay arrangement, any other material third party transaction with respect to the use of Issuer's MMDS spectrum, and/or any other material third party transaction having a substantially similar economic effect on Issuer as the foregoing, determined by the Governance and Compensation Committee of Issuer's Board of Directors, in its good faith, reasonable judgment; provided that, in the case of any such event other than an acquisition, merger or equity investment, when considered with any such other event in which CAI is participating, such event(s), taken together, in the good faith judgment of the Governance and Compensation Committee, based on the advice of Issuer's financial advisor, would permit the Issuer to finance its business plan, or (iii)(a) to the extent of one-half of the options when the average trading price of Issuer's common stock has been at or above $12.82 per share for 60 consecutive trading days, or (b) in whole, when the average trading price of Issuer's common stock has been at or above $19.23 per share for 45 consecutive trading days. The options expire on the tenth anniversary of the granting thereof, provided that unvested options lapse and expire to the extent of 50% thereof after the 18-month anniversary of the granting thereof and 100% thereof lapse and expire after the 24-month anniversary of the granting thereof. -----END PRIVACY-ENHANCED MESSAGE-----