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- -------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION
FORM 3 WASHINGTON, D.C. 20549
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INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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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1. Name and Address of Reporting Person 2. Date of Event Re- 4. Issuer Name and Ticker or Trading Symbol
quiring Statement
Ray Paul L. (Month/Day/Year) Image Guided Technologies, Inc./IGTI
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(Last) (First) (Middle) 10/21/96 5. Relationship of Reporting Person(s) 6. If Amendment, Date
----------------------- to Issuer (Check all applicable) of Original
3. IRS or Social Se- X Director 10% Owner (Month/Day/Year)
curity Number of ---- ----
5710-B Flatiron Parkway Reporting Person Officer (give Other (specify ---------------------
- ------------------------------------------------- (Voluntary) X title below) below) 7. Individual or
(Street) ---- ---- Joint/Group Filing
(Check Applicable
Chief Executive Officer Line)
--------------------------- Form filed by One
X Reporting Person
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Form filed by
More than One
Reporting Person
Boulder CO 80301 ---
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(City) (State) (Zip) TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership 4. Nature of Indirect Beneficial
(Instr. 4) Beneficially Owned Form: Direct Ownership (Instr. 5)
(Instr. 4) (D) or Indirect
(I) (Instr. 5)
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Common Stock, no par value 6,086 D
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
(Print or Type Responses) SEC 1473 (7-96)
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FORM 3 (CONTINUED) TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE
SECURITIES)
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1. Title of Derivative Security 2. Date Exer- 3. Title and Amount of Securities 4. Conver- 5. Owner- 6. Nature of Indirect
(Instr. 4) cisable and Underlying Derivative Security sion or ship Beneficial
Expiration (Instr. 4) Exercise Form of Ownership
Date Price of Deriv- (Instr. 5)
(Month/Day/ Deri- ative
Year) vative Security:
-------------------------------------------------- Security Direct
Amount (D) or
Date Expir- of Indirect
Exer- ation Title Number (I)
cisable Date of
Shares (Instr. 5)
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Stock Options (Right to Buy) (1) 3/14/01 Common Stock, 10,000 $1.6656 D
no par value
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Stock Options (Right to Buy) (2) 5/31/01 Common Stock, 7,945 $1.2375 D
no par value
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Stock Options (Right to Buy) (3) 5/31/01 Common Stock, 72,054 $1.2375 D
no par value
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Stock Options (Right to Buy) (4) 6/22/02 Common Stock, 40,000 $1.250 D
no par value
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Stock Options (Right to Buy) (5) 9/3/01 Common Stock, 6,400 Est $5.000 D
no par value (6)
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Explanation of Responses:
(1) Fully exercisable.
(2) Fully exercisable.
(3) Granted 6/1/94, exercisable 1/6 six months after employment and 1/12 quarterly thereafter.
(4) Granted 6/23/95, exercisable 1/6 after six months and 1/12 quarterly thereafter.
(5) Granted 9/4/96, exercisable 1/6 after six months and 1/12 quarterly thereafter.
(6) Initial Public Offering Price.
/s/ PAUL L. RAY
------------------------------------- October 10, 1996
**Intentional misstatements or omissions of facts constitute Federal **Signature of Reporting Person Date
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.
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SEC 1473 (7-96)
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