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 Instructions 1(b).
( ) Form 3 Holdings Reported
(X) Form 4 Transactions Reported
1. Name and Address of Reporting Person
Jagelman, J. Grant
C/O Spacetec IMC Corporation
The Boott Mill
100 Foot of John Street
Lowell, MA 01852
USA
2. Issuer Name and Ticker or Trading Symbol
Spacetec IMC Corporation
SIMC
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
March 31, 1997
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)
USA
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>
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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| | Beneficially |(D)or | |
| | | | A/| | Owned at |Indir | |
| | | Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock |1/5/96|S4 |12,750 |D |$10.00 |1,132,164 |I |Spatial Systems Ltd |
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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 | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|ice of | | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity | | | Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Stock Option (right to b|$13.00 |9/11/|A |6,000 |A |9/11/|9/11/|Common Stock|6,000 | | |D | |
uy) | |96 | | | |97* |06 | | | | | | |
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Stock Option (right to b|$4.75 |12/31|A |14,000 |A |12/31|12/31|Common Stock|14,000 | |67,000 |D | |
uy) | |/96 | | | |/96**|/06 | | | | | | |
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</TABLE>
Explanation of Responses:
*Vesting Schedule 2,000 9/11/97, 2,000 9/11/98, 2,000
9/11/99.
**Vesting Schedule 4,200 12/31/96, 4,200 12/31/97, 5,600
12/31/98
SIGNATURE OF REPORTING PERSON
s/J. Grant Jagelman
DATE
May 15, 1997
