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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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U.S. 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
[ ] 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*
Rittenberg Gerald C.
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(Last) (First) (Middle)
Amscan Holdings, Inc.
80 Grasslands Road
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(Street)
Elmsford New York 10523
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Amscan Holdings, Inc. (Nasdaq:AMSN)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
December 1997
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ ] 10% Owner
[ X ] Officer (give title below) [ ] Other (specify below)
Chief Executive Officer
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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 I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) 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, par value $0.10 per
share 12/19/97 J(1) 546,590 D $16.50 60 D
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12/19/97 J(1) 93,380 D $16.50 0 I Held by
Trust
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially
Owned (e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of 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 (contingent Common
right to buy) $75,000.00 12/19/97 A(2) 16.648 (2) (2) Stock 16.648 -- 16.648 D
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</TABLE>
Explanation of Responses:
(1) On December 19, 1997, Confetti Acquisition, Inc., a newly organized Delaware
corporation ("Acquisition") affiliated with GS Capital Partners II, L.P. and
certain other private investment funds managed by Goldman, Sachs & Co., was
merged with and into Amscan Holdings, Inc. (the "Company"), with the Company as
the surviving corporation in the merger (the "Merger"). At the effective time of
the Merger, each share of the Company's common stock, par value $0.10 per share,
with certain exceptions, was converted, at the election of the holder thereof,
into the right to receive from the Company following the Merger either $16.50 in
cash (the "Cash Consideration"), or $9.33 in cash plus a retained interest in
the Company equal to one share for every 150,000 shares so elected, with cash to
be paid in lieu of fractional shares. Pursuant to Mr. Rittenberg's employment
agreement with Acquisition, Mr. Rittenberg contributed to Acquisition
immediately prior to the effective time of the Merger 272,728 shares of the
Company's common stock in exchange for shares of Acquisition's common stock
(valuing Mr. Rittenberg's shares of the Company's common stock at $16.50 per
share) which shares of Acquisition so acquired by Mr. Rittenberg were converted
at the effective time of the Merger into 60 shares of the Company's common stock
(as the surviving corporation in the Merger). The remaining shares of the
Company's common stock beneficially owned by Mr. Rittenberg prior to the Merger
were exchanged for the Cash Consideration in December 1997.
(2) In accordance with the terms of Mr. Rittenberg's employment agreement, and
pursuant to the terms of the Company's stock incentive plan and related option
agreement (the "Option Documents") adopted by the Company after the effective
time of the Merger, Mr. Rittenberg was granted options to purchase 16.648 shares
(approximately 1.6%) of the Company's common stock, exercisable at a per share
price of $75,000.00. The options vest in equal annual installments of 20% per
year over a five-year period and are subject to forfeiture upon termination of
Mr. Rittenberg's employment if not vested and exercised within certain time
periods specified in the Option Documents. Unless sooner exercised or forfeited
as provided in the Option Documents, the options will expire on the tenth
anniversary of the effective time of the Merger.
/s/ Gerald C. Rittenberg 1/9/98
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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.
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form
displays a currently valid OMB Number.
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