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OMB APPROVAL
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OMB Number 3235-0362
Expires: September 30, 1998
Estimated average burden
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL 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 box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ X ] Form 4 Transactions Reported
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1. Name and Address of Reporting Person*
Rotter John Ward
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(Last) (First) (Middle)
1700 Montgomery Street, Suite #250
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(Street)
San Francisco CA 94111
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Point West Capital Corporation/PWCC
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
1997
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5. If Amendment, Date of Original (Month/Year)
2/98
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ X ] Director [ X ] 10% Owner
[ X ] Officer (give title below) [ ] Other (specify below)
Executive Vice President and Chief Financial Officer
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7. Individual or Joint/Group Reporting (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>
5. 6.
4. Amount of Owner-
Securities Acquired (A) or Securities ship
Disposed of (D) Beneficially Form: 7.
(Instr. 3, 4 and 5) Owned at End Direct Nature of
2. 3. ----------------------------- of Issuer's (D) or Indirect
1. Transaction Transaction (A) Fiscal Year Indirect Beneficial
Title of Security Date Code Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) (Instr. 8) (D) & 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
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Common Stock 12/24/97 J(1) 397,081(1) A (1) 397,081 D
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206,600 I (2)
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</TABLE>
*If the form is filed by more than one reporting person,
see instruction 4(b)(v).
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(Over)
SEC 2270 (7-96)
<PAGE>
FORM 5 (continued)
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- 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- Securities Date Securities Price Bene- ity: In-
cise 3. Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- 4. or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Trans- of (D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date action (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ Code 4 and 5) Date Expira- Number ity Year (I) ship
Security Secur- Day/ (Instr. ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) 8) (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>
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Employee option $3.438 11/17/97 A(3) 10,000 (3) 11/17/07 Common 10,000 10,000 D
to buy Stock
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Employee option $3.438 11/17/97 A(4) 7,500 (4) 11/17/07 Common 7,500 7,500 I By wife
to buy Stock
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Option (obligation $1.375 5/6/97 J(5) 7,500 (5) 7/17/06 Common 7,500
to sell Stock
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Option (obligation $1.375 12/17/97 J(5) 5,000 (5) 7/17/06 Common 5,000 15,000 D
to sell Stock
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Option (obligation $3.438 11/17/97 J(6) 15,000 (6) 11/17/07 Common 15,000 15,000 D
to sell Stock
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</TABLE>
Explanation of Responses:
(1) The Reporting Person, as a member of The Echelon Group of Companies, LLC
("Echelon"), was previously deemed to be an indirect beneficial owner of
1,588,324 shares (including these 397,081 shares) of the Issuer's common
stock held by Echelon. On December 24, 1997, Echelon distributed to its
members (including the Reporting Person) for no consideration all 1,588,324
shares of the Issuers's common stock previously held by Echelon in
accodance with each members's respective ownership interest in Echelon.
(2) As a member of a limited liability company.
(3) Reflects the grant of an employee option to purchase 10,000 shares of the
Issuer's common stock, which vests at the rate of 2,000 shares on
November 17, 1998, 1999, 2000, 2001 and 2002.
(4) Reflects the grant to the Reporting Person's spouse of an employee option
to purchase 7,500 shares of the Issuer's common stock, which vests at the
rate of 1,500 shares on November 17, 1998, 1999, 2000, 2001 and 2002.
(5) On July 17, 1996, as previously reported, the Reporting Person granted to
its employees covered call options to purchase 27,500 shares of the
Issuer's common stock. On May 6, 1997 and December 17, 1997, options to
purchase an agregate of 12,500 of those shares were canceled upon
termination of the optionees' employment. The remaining options to
purchase 15,000 shares continue to vest at the rate of 3,000 shares on
February 14, 1997, 1998, 1999, 2000 and 2001.
(6) On November 17, 1997, the Reporting Person granted to its employees covered
call options to purchase 15,000 shares of the Issuer's common stock.
These options vest at the rate of 3,000 shares on November 17, 1998, 1999,
2000, 2001 and 2002.
/S/ John Ward Rotter April 8, 1998
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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.
Page 2
SEC 2270 (7-96)
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