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OMB APPROVAL
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OMB Number: 3235-0287
Expires: September 30, 1998
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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*
Harrison James M.
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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)
President
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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) 5000 D $16.50 -0- D
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12/19/97 J(1) 15 A -- 15 D
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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
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 (contingent Common
right to buy) $12.00 12/19/97 J(2) 50,000 (2) (2) Stock 50,000 (2) -0- D
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Common
$54,545.00 12/19/97 J(2) 2.394 (2) (2) Stock 2.394 (2) 2.394 D
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Common
$75,000.00 12/19/97 A(2) 13.874 (2) (2) Stock 13.874 -- 13.874 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. Mr. Harrison tendered 5,000
shares of the Company's common stock in the Merger and elected to receive the
Cash Consideration. Pursuant to Mr. Harrison's employment agreement with
Acquisition, Mr. Harrison was granted 15 restricted shares of Acquisition's
common stock at a per share price of $75,000.00 per share, which shares of
Acquisition so acquired by Mr. Harrison were converted at the effective time of
the Merger into 15 restricted shares of the Company's common stock (as the
surviving corporation in the Merger).
(2) In accordance with Mr. Harrison's employment agreement, and pursuant to
the terms of the Company's stock incentive plan (the "Plan"), the related option
agreement (with the Plan, the "Option Documents") and the rollover stock option
agreement (the "Rollover Agreement") adopted by the Company at the effective
time of the Merger, Mr. Harrison converted his options to purchase 50,000 shares
of the Company's common stock prior to the Merger into options to purchase 2.394
shares of the Company's common stock (as the surviving corporation in the
Merger), exercisable at a per share price of $54,545.00, and he received a cash
payment of $176,531.57. The rollover options vest in equal annual installments
of 20% per year over a five-year period. Unless sooner exercised or forfeited as
provided in Option Documents and the Rollover Agreement, the options will expire
on the tenth anniversary of the effective time of the Merger. Additionally, in
accordance with the terms of Mr. Harrison's employment agreement, and pursuant
to the terms of the Option Documents, Mr. Harrison was granted options to
purchase 13.874 shares 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. Harrison'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/ James M. Harrison 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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