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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
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Ciffolillo Joseph A.
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(Last) (First) (Middle)
31 Brimmer St.
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(Street)
Boston MA 02108
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol Innovasive Devices, Inc. ("IDEA")
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3. IRS or Identification Number of Reporting Person if an entity
(Voluntary)
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4. Statement for Month/Year 4/99
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[X] Director [ ] Officer [ ] 10% Owner [ ] Other
(give title below) (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
____ Form filed by One Reporting Person
____ Form filed by More than One Reporting Person
TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<TABLE>
<CAPTION>
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1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
of action action or Disposed of (D) Securities ship of In-
Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene-
Day/ ----------------------------------------------- End of (D) or ficial
Year) Month Indirect Owner-
Code V Amount (A) or Price (Instr. 3 and 4) (I) ship
(D) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 4/6/99 A 8,000 A -- 8,000 D
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By Investment
Common Stock 93,872 I Company
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If this form is filed by more than one reporting person, see Instruction
4(b)(v).
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FORM 4 (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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1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year)
Security
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Code V (A) (D)
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<S> <C> <C> <C> <C> <C> <C>
Stock Option
(Right to Buy) (2) $ 1.69
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Stock Option
(Right to Buy) (2) $ 6.75
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Stock Option
(Right to Buy) (3) $10.00
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Stock Option
(Right to Buy) (3) $12.00
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Stock Option
(Right to Buy) (4) $9.375
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Stock Option
(Right to Buy) (3) $9.375
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<CAPTION>
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)--CONTINUED
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6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative Form of In-
Date ative Secur- of De- direct
(Month/Day/ Secur- ities rivative Bene-
Year) ity Bene- Secu- ficial
(Instr. ficially rity: Owner-
-------------------------------------------- 5) Owned Direct ship
Date Expira- Amount or at End (D) or (Instr.
Exer- tion Title Number of of Indi- 4)
cisable Date Shares Month rect (1)
(Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Stock Option (5)
(Right to Buy) (2) 3/2/95 3/2/04 Common Stock 17,778 17,778 D
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Stock Option (5)
(Right to Buy) (2) 2/20/97 2/20/06 Common Stock 8,889 8,889 D
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Stock Option (5)
(Right to Buy) (3) 6/26/97 6/26/06 Common Stock 10,000 10,000 D
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Stock Option (5)
(Right to Buy) (3) 6/27/98 6/27/07 Common Stock 2,500 2,500 D
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Stock Option (5)
(Right to Buy) (4) 6/8/99 6/8/08 Common Stock 37,500 37,500 D
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Stock Option (5)
(Right to Buy) (3) 6/8/99 6/8/08 Common Stock 2,500 2,500 D
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</TABLE>
Explanation of Responses: (1) The reporting person disclaims beneficial
ownership of such shares, except to the extent of
his proportionate interest therein.
(2) Granted under the Company's 1992 Stock Option
Plan.
(3) Granted under the Company's 1996 Non-Employee
Director Stock Option Plan.
(4) Granted under the Company's 1996 Omnibus Stock
Plan.
(5) The options vest in four equal annual installments
beginning with the stated exercise 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.
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.
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**Signature of Reporting Person Date
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