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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
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
[ X ] 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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1. Name and Address of Reporting Person*
Gleberman, Joseph H.
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(Last) (First) (Middle)
c/o Goldman, Sachs & Co.
85 Broad Street
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(Street)
New York, New York 10004
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Biofield Corp.
(BZET)
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3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
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4. Statement for Month/Year
December/1998
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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)
[ ] Director [ ] 10% Owner
[ ] Officer (give title below) [ X ] Other (specify below)
Former Director
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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>
<CAPTION>
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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. |
|2. | Transaction| (Instr. 3, 4 and 5) |Beneficially |Direct |Nature of |
|Transaction | Code | -------------------------------|Owned at End |(D) or |Indirect |
1. |Date | (Instr. 8) | | (A) | |of Month |Indirect |Beneficial|
Title of Security |(Month/Day/ | -----------| Amount | or | Price |(Instr. 3 |(I) |Ownership |
(Instr. 3) |Year) | Code | V | | (D) | |and 4) |(Instr.4)|(Instr. 4)|
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
| | | | | | | | | |
Common Stock | 12/28/98 | S(01) | | 2,246,131 | D | 01 | -0- | I | 02 |
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| | | | | | | | | |
| | | | | | | | | |
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</TABLE>
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).
FORM 4 (continued)
<TABLE>
<CAPTION>
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Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned |
(e.g., puts, calls, warrants, options, convertible securities) |
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| | | | | | | |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- | |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>
Option | | | | | | | | | | | | | | |
(right to buy) | $3.75 |6/4/98 |A(03)|V| 2,500| | Immed. |6/4/08 |Common Stock | 2,500 | | | I | 03 |
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Option | | | | | | | | | | | | | | |
(right to buy) | $3.75 |12/28/98|J(03)| | | 2,500| Immed. |6/4/08 |Common Stock | 2,500 | | -0- | I | 03 |
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Option | | | | | | | | | | | | | | |
(right to buy) | $4.69 |12/28/98|J(03)| | | 2,500| Immed. |6/4/07 |Common Stock | 2,500 | | -0- | I | 03 |
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Option | | | | | | | | | | | | | | |
(right to buy) | $11.00 |12/28/98|J(03)| | | 10,000| 04 |1/29/06 |Common Stock | 10,000 | | -0- | I | 03 |
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</TABLE>
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Explanation of Responses:
01: Pursuant to a stock repurchase agreement, dated as of December 28, 1998 (the
"Repurchase Agreement"), by and among Biofield Corp. (the "Company") and GSCP
and various investment partnerships affiliated with Goldman Sachs ("Other
Limited Partnerships", and together with GSCP, the "Limited Partnerships"), the
Limited Partnerships sold all shares of Common Stock held by them to the Company
for a total consideration of $100.00.
02: The Reporting Person is a managing director of Goldman, Sachs & Co.
("Goldman Sach"). The Goldman Sachs Group, L.P. ("GS Group") is the general
partner of and owns a 99% interest in Goldman Sachs. The securities reported
herein as indirectly sold were sold and may be deemed to have been beneficially
owned directly by GS Capital Partners, L.P. ("GSCP") and various investment
partnerships affiliated with Goldman Sachs. Goldman Sachs is the investment
manager of GSCP. The Reporting Person disclaims ownership of the securities
reported herein except to the extent of his pecuniary interest therein.
03: The options were granted to the Reporting Person, who, at the time of the
grant, was a director of the Company, under the Biofield Corp. 1996 Stock Option
Plan for Non-Employee Directors. The Reporting Person had an agreement with GS
Group pursuant to which he held the stock options for the benefit of GS Group.
The Reporting Person disclaims ownership of the securities reported herein
except to the extent of his pecuniary interest therein.
On December 28, 1998, the Reporting Person resigned from the Board of Directors
of the Company. In connection with such resignation and the Repurchase
Agreement, the Reporting Person tendered to the Company for cancellation all of
his options to acquire shares of Common Stock granted to him pursuant to the
Biofield Corp. 1996 Stock Option Plan for Non-Employee Directors.
04: These options become exercisable in three equal annual installments on each
anniversary of the grant date, which was January 29, 1996.
By: s/ Hans L. Reich January 11, 1999
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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 procedures.
Alternatively, this Form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to Rule 101(b)(4) of Regulation S-T.
