UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
|_| Check box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
|_| Form 3 Holdings Reported
|_| Form 4 Transactions Reported
1. Name and Address of Reporting Person
Zotos, Federic P.
2007 Court North Drive
Melville, New York 11747
2. Issuer Name and Ticker or Trading Symbol
Atlantic Pharmaceuticals, Inc. ("ATLC")
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
02/00
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)
President
7. Individual or Joint/Group Reporting (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
|Transaction| or Disposed of (D) | Securities |ect | Beneficial Ownership |
|Date |Code| (Instr.3,4 and 5) | Beneficially |(D)or | (Instr. 4) |
| |(Ins| | A/| | Owned at |Indir | |
| |tr.8) Amount | D | Price | End of Year |ect(I)| |
| | | | | (Instr. 3 and 4) |(Ins | |
| | | | | | tr.4)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
*If form is filed by more than one reporting person, see instruction 4(b)(v).
(Over) SEC 2270(7-96)
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FORM 5 (continued)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise Pr | |(In | red(A) or Dis |Date(Month/| (Instr. 3 and 4 |Secu |Securities |(D)|Ownership |
|ice of | |str.| posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva | | 8) | (Instr.3,4 |Date |Expir| |(Instr.|ficially |Ind| |
|tive | | | and 5) | A/|Exer-|ation| Title and Number | 5) |Owned at |ire| |
|Secu | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity | | | Amount | |ble | | | |Year |(I)| |
| | | | | | | | | |(Instr. 4) |(Instr. 4) |
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Stock Option |$1.375 |5/28/| A | 10,000 | |5/28/|5/27/|Common |10,000 | | | D | |
(right to buy) | | 99 | | | |99(1)| 09 |Stock | | | | | |
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Stock Option |$1.75 |9/23/| A | 2,000 | |9/23/|9/22/|Common | 2,000 | | | D | |
(right to buy) | | 99 | | | |99(2)|09 |Stock | | | | | |
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Stock Option |$1.50 |10/21| A | 25,000 | | (3) |10/20|Common |25,000 | | 37,000 | D | |
(right to buy) | | 99 | | | | |09 |Stock | | | | | |
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</TABLE>
(1) The option vests in three equal annual installments beginning on May
28, 2000.
(2) The option vests on September 23, 2000
(3) The option vests immediately but may only be exercised if the fair
market value of the Common Stock is equal to or greater than $3.50 per
share.
Frederic P. Zotos
/s/ Frederic P. Zotos February 9, 2000
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** Signature of Reporting Person Date
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. Page 2
SEC 2270 (7-96)
