U.S. 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
() Form 4 Transactions Reported
1. Name and Address of Reporting Person
Spector, Paul
718 Dickens Avenue
Franklin Square, NY 11010
2. Issuer Name and Ticker or Trading Symbol
Aris Industries, Inc. AISI
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
12/31/97
If Amendment, Date of Original (Month/Year)
Relationship of Reporting Person to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (x) Officer (give title below)
( ) Other (specify below)
Sr. V.P., CFO and Secretary
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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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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>
Opt to Buy Com Stck |$1.00 |8/28/|A |15000 | |8/28/|8/28/|Common |15,000 |N/A |80000 |D | |
(1993 Stock Incentive | |97 | | | |05 [1|07 | | | | | | |
Plan) | | | | | |] | | | | | | | |
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Opt to Buy Com Stck | | |A |0 | | | |Common | | |80000 |D | |
(1993 Stock Incentive | | | | | | | | | | | | | |
Plan) | | | | | | | | | | | | | |
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Explanation of Responses:
1. Subject to earlier vesting and exercisability on certain refinancing of the
issuer's indebtedness, if it should occur.
SIGNATURE OR REPORTING PERSON
Paul Spector
DATE
1/28/98
