U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utilitiy Holding Company Act of 1935
or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person
Chen Carl L.
(Last) (First) (Middle)
3060 Airport Way
(Street)
Long Beach CA 90806
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol: Advanced Aerodynamics &
Structures, Inc. AASI
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year: May 1997
5. If Amendment, Date of Original (Month/Day/Year)
6. Relationship of Reporting Person to Issuer (Check all applicable)
/x / Director / x/ 10% Owner
/x / Officer (give title below) / / Other (Specify below)
President
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficiallly
Owned
2. Transaction 3. Transaction 4. Securities Acquired
Date (Month/ Code (Instr. 8) (A) or Disposed (D)
1. Title of Security Day/Year) Code V (Instr. 3, 4 and 5)
(Instr. 3) Amount (A) or Price
(D)
*Class B Common Stock 5/8/97 J 12,541 D *
*Class E-1 Common Stock 5/8/97 J 25,081 D *
*Class E-2 Common Stock 5/8/97 J 25,081 D *
5. Amount of 6. Ownership 7. Nature of Indirect
Securities Form: Direct Beneficial Ownership
Beneficially (D) or Indirect (Instr. 4)
Owned at End (I) (Instr. 4)
of Month
(Instr. 3 and 4)
826,751 D
1,653,503 D
1,453,503 D
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 5(b)(v).
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Table II: Derivative Security Beneficially Owned (e.g., puts, calls, warrants,
options, convertible securities)
2. Conversions 3. Transaction 4. Transaction Code
1. Title of Derivative or Exercise Price Date (Month/ (Instr. 8)
Security (Instr. 4) of Derivative Day/Year)
Security
Employee Stock Option $5.00 5/27/97 A
5. Number of 6. Date Exercisable and
Derative Securities Expiration Date (Month/Day/Year)
Acquired (A) or
Disposed of (D) Date Exercisable Expiration Date
(Instr. 3, 4 and 5)
Amount (A) or (D)
25,000 A 5/27/97 5/27/2002
25,000 A 5/27/98 5/27/2002
25,000 A 5/27/99 5/27/2002
25,000 A 5/27/2000 5/27/2002
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
Title Amount or Number
of Shares
Class A Common Stock 100,000
8. Price of 9. Number of Derative
Derative Security Securities Beneficially
(Instr. 5) Owned at End of Month
(Instr. 4)
10. Ownership Form 11. Nature of Indirect
of Derative Security: Beneficial Ownership
Direct (D) or Indirect (Instr. 4)
(I) (Instr. 4)
D
Explanation of Responses:
*Award of stock to Gene Comfort, an officer and director of the Company, for
past and future services rendered to the issuer.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ Carl L. Chen
_____________________________
Signature of Reporting Person
