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---------------------------
FORM 4 U.S. SECURITIES AND EXCHANGE COMMISSION
--------------------------- Washington, D.C. 20549
[_] Check this box
if no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
of Section 16. Form 4
or Form 5 obligations Filed pursuant to Section 16(a) of the Securities Exchange
may continue. See Act of 1934 Section 17(a) of the Public Utility Holding
Instruction 1(b). Company Act of 1935 or Section 30(f) of the
(Print or Type Responses) Investment Company Act of 1940
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________________________________________________________________________________
1. Name and Address of Reporting Person*
Petrocelli Santo
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(Last) (First) (Middle)
c/o Petrocelli Communications Company
22-09 Bridge Plaza North
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(Street)
Long Island City, New York 11101
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(City) (State) (Zip)
________________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
FiberNet Telecom Group, Inc. FTGX
________________________________________________________________________________
3. IRS Identification Number of Reporting Person (Voluntary)
________________________________________________________________________________
4. Statement for Month/Year
August 2000
________________________________________________________________________________
5. If Amendment, Date of Original (Month/Year)
________________________________________________________________________________
6. Relationship of Reporting Persons to Issuer
(Check all applicable)
[_] Director [X] 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
________________________________________________________________________________
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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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 Dates ------------ Amount or Price (Instr. 3 (I) Ownership
(Inst. 3) (month/day/ Code V (D) and 4) (Instr.4) (Instr. 4)
year)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock of FiberNet Telecom 8/30/00 S 200,000 D $2,200,000 6,700,000 I By SMFS,
Group, Inc., par value $0.001 Inc., a
per share Delaware
corporation
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Common Stock of FiberNet Telecom 118,753 I By
Group, Inc., par value $0.001 Petrocelli
per share Industries,
Inc., a
Delaware
corporation
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NY-297338.1
Page 1 of 3
<PAGE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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10.
9. Owner-
Number ship
of Form
2. Deriv- 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>
Warrants to $1.50 6/30/99 6/30/04 Common 141,666 I By
purchase shares stock Petrocelli
of common stock of Industries,
FiberNet Inc., a
Telecom Delaware
Group, Inc., corporation
par value
$0.001
per share
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Warrants to $0.67 6/30/99 6/30/04 Common 78,377 I By
purchase shares stock Petrocelli
of common stock of Industries,
FiberNet Inc., a
Telecom Delaware
Group, Inc., corporation
par value
$0.001
per share
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Option to $1.95 5/7/99 5/7/02 Common 190,000 D
purchase shares stock
of common stock of
FiberNet
Telecom
Group, Inc.,
par value
$0.001
per share
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Explanation of Responses:
** 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.
NY-297338.1
Page 2 of 3
SEC 1474 (3/91)
<PAGE>
SANTO PETROCELLI, SR. on behalf of himself
and as President, on behalf of SMFS, Inc.
and PETROCELLI INDUSTRIES, INC.
/s/ Santo Petrocelli 9/11/00
------------------------------- -------
**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 is insufficient, see Instruction 6 for procedure.
NY-297338.1
Page 3 of 3
SEC 1474 (3/91)