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FORM 4
__ Check this box if no
longer subject to
Section 16. Form 4
or Form 5 obligations
may continue. See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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.
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OMB Approval
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OMB Number: 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response....0.5
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<TABLE>
<CAPTION>
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1. Name and Address of 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person(s) to Issuer
or Perporting Person* (Check all applicable)
__ Director X 10% Owner
X Officer (give title below) __ Other (specify below)
Chief Executive Officer & President
Rittereiser, Fredric W. The Ashton Technology Group, Inc. "ASTN"
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(Last) (First) (Middle) 3. IRS or Social 4. Statement for 7. Individual or Joint/Group Reporting
Security Number of Month/Year (check applicable line)
Reporting Person X Form Filed by One Reporting Person
(Voluntary) February 1997 __ Form Filed by More than One Reporting
Person
20 Maple Street
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(Street) 5. If Amendment,
Date of Original
(Month/Year)
Toms River, NJ 08753 October, 1996
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(City) (State) (Zip) Table 1 -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
<S> <C> <C> <C> <C> <C> <C>
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1. Title of Security 2. Trans- 3. Transaction 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature of
(Instr. 3) action Code (Instr. or Disposed of (D) Securities Form: Indirect
Date 8) (Instr. 3, 4 and 5) Beneficially Direct (D) Beneficial
(Month/ Owned at End or Indirect Ownership
Day/ of Month (I) (Instr. 4)
Year) (Instr. 3 and (Instr. 4)
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Code V Amount (A) or (D) Price
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Common Stock 2/9/97 P 750,000 A $2.67 750,000 D
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, See Instruction 4(b)(v).
</TABLE>
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<TABLE>
FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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1. Title 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date 7. Title 8. Price 9. Number 10. Owner- 11. Nature of
of sion or action action Derivative Exer- and of of ship Indirect
Deri- Exercise Date Code Securities cisable Amount Deri- deri- Form Beneficial
vative Price of (Instr. Acquired (A) and Expi- of vative vative of Deri- Ownership
Secu- Deri- (Month/ 8) or Disposed ration Under- Secu- Secu- vative (Instr. 4)
rity vative Day/ of (D) Date Lying rity rities Security
(Instr. Security Year) (Instr. 3, (Month/ Securi- (Instr. Benefi- Direct
3) 4, and 5) Day/ ties 5) cially (D) or
Year) (Instr. Owned Indirect
3 and4) at End (I)
of (Instr.
Month 4)
(Instr.
4)
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Code V (A) (D) Date Expir- Title Amount
Exerci- ation or of
sable Date Number
of
Shares
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Common Stock $4.50 10/22/96 J(1) V 1,000,000 4/2/97 6/2/97 Com- 1,000,000 N/A 1,000,000 D
Call Options mon
Stock
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Common Stock $4.50 10/22/96 J(2) V 107,500 (2) (2) Com- 107,500 N/A 107,500 D
Put Options mon
Stock
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Explanation of Responses:
(1) - (3) See Exhibit A
** Intentional misstatements or omissions of /s/ Fredric W. Rittereiser February 14, 1997
facts constitute Federal Criminal -------------------------------------------- ------------------------------
Violations ** Signature of Reporting Person Date
See 18 U.S.C. 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 form
displays a currently valid OMB number.
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, See Instruction 4(b)(v).
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February 1997 Addendum to FORM 4
for Fredric W. Rittereiser for The Ashton Technology Group, Inc.
(1) Subject to the terms and conditions of a Settlement Agreement, dated
October 22, 1996, and in consideration for $250,000 payable by Fredric W.
Rittereiser to Helen J. Tate, as trustee for the Tate Trusts, Fredric W.
Rittereiser or his designee shall have the right and option (the "Call
Option") to purchase and acquire all of the 1,000,000 Trust Shares of
Ashton Common Stock for a total purchase price of $4,500,000.
(2) Subject to the terms and conditions of a Settlement Agreement, dated
October 22, 1996, Fredric W. Rittereiser granted to Raymond T. Tate the
right and option (the "Put Option"), exercisable by written notice to
Fredric W. Rittereiser or his designee, at any time during the period
beginning at 12:00 a.m., New York time, on the business day immediately
following exercise of the Call Option and ending at 11:59 p.m. on the fifth
business day immediately following exercise of the Call Option (the "Put
Exercise Period"), to require Fredric W. Rittereiser or his designee to
purchase and acquire from Raymond T. Tate all 107,500 of the Tate Shares
for a total purchase price of $483,750 (the "Put Exercise Price").
(3) The Dover Group, Inc., Fredric W. Rittereiser, or his or its designee will
purchase $750,000 shares from David N. Rosenaft for $2,000,000 on April 10,
1997, pursuant to a Settlement Agreement and Stock Purchase Agreement dated
as of January 30, 1997.
