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OMB APPROVAL
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OMB Number 3235-0104
Expires: 12-31-2001
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
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*
Benson, James W.
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(Last) (First) (Middle)
13855 Stowe Drive
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(Street)
Poway, CA 92064
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
1/18/00
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
SpaceDev, Inc. (SPDV)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
CEO, President
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6. If Amendment, Date of Original (Month/Day/Year)
N/A
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7. Individual or Joint/Group Filing (Check applicable line)
[_] Form Filed by One Reporting Person
[X] Form Filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 4)
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<S> <C> <C> <C>
(1) Common Stock* 136,000 D
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(2) Common stock grants** 100,000 D
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(3) Common Stock 8,895,000 I By SD Holdings, LLC, a Nevada LLC
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* If the Form is filed by more than one Reporting Person, see Instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
(Form 3-07/99)
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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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5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
(4) Options 11/24/1997 11/24/2002 Common stock 2,500,000 $1.00 - $3.00 D
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Explanation of Responses:
* (1) Held jointly with Susan Benson, 13885 Stowe Dr., Poway, CA 92064,
Secretary of SpaceDev, Inc. (SPDV, reporting event 1/18/00.
** (2) Issued pursuant to exercise of common stock options issued 10/16/98 with
an exercise price of $0.50 per share.
***(4) Performance-based options: 500,000 fully vested with exercise price of
$1.00 per share; remainder to vest upon occurrence of specified events in
segments of 500,000 shares at exercise prices ranging from $1.50 to $3.00.
/s/ James W. Benson 2/22/2000
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**Signature of Reporting Person Date
/s/ Susan Benson 2/22/2000
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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 procedure.
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