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OMB Number: 3235-0287
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
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
[_] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Wilpon, Fred
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(Last) (First) (Middle)
c/o Sterling PathoGenesis Company
575 Fifth Avenue
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(Street)
New York New York 10017
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
PathoGenesis Corporation ("PGNS")
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
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5. If Amendment, Date of Original (Month/Year)
June 1998
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [_] 10% Owner
[ ] Officer (give title below) [_] Other (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by one Reporting Person
[_] Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, par value
$.001 per share 6/18/98 P 10,000 A $29.000 758,750 I (1)
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6/18/98 P 9,000 A $28.438 19,000 D(2)(3)
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6/23/98 P 5,000 A $27.2725
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6/23/98 P 5,000 A $27.185
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6/24/98 P 4,000 A $29.437
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6/24/98 P 5,000 A $29.31
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6/24/98 P 2,000 A $29.31
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6/24/98 P 1,000 A $28.685
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6/24/98 P 5,000 A $28.06
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</TABLE>
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).
(Print or Type Responses)
(Over)
SEC 1474 (7/96) 210333-1.wpd
<PAGE>
FORM 4 (continued)
<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, par value
$.001 per share 6/25/98 P 5,000 A $28.46
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6/25/98 P 5,000 A $28.06
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6/26/98 P 3,000 A $29.56
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</TABLE>
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- Form of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity; In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Stock Options (4) Common
(right to buy) $33.25 6/3/98 A V $8,000 6/3/98 6/3/98 Stock $8,000 $8,000 D
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</TABLE>
Explanation of Responses:
(1) Held by Sterling PathoGenesis Company ("Sterling"), of which the Reporting
Person is a managing partner. The Reporting Person disclaims beneficial
ownership of such shares, except to the extent of his pecuniary interest.
Certain other partners in Sterling hold securities of the Issuer outside
of Sterling.
(2) Includes 9,000 shares of common stock held jointly by Reporting Person and
his spouse.
(3) Includes 10,000 shares of common stock held jointly by the Reporting
Person and a partner in Sterling. The Reporting Person disclaims
beneficial ownership of such shares, except to the extent of his pecuniary
interest.
(4) Pursuant to stock options granted under the PathoGenesis Corporation 1997
Stock Option Plan.
/s/ Fred Wilpon 9/2/98
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**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.
SEC (1474 (7/96) Page 2
