UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
MILLSPAUGH, RICHARD L.
6335 LEMONWOOD DRIVE
COLORADO SPRINGS, CO 80918
USA
2. Issuer Name and Ticker or Trading Symbol
ONLINE POWER SUPPLY, INC.
OPWR
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
MAY 2000
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
CHIEF FINANCIAL OFFICER
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
$.0001 Par Value Common|05/19/|M | |15,000 (a) |A |$2.88/share| |D | |
Stock |00 | | | | | | | | |
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$.0001 Par Value Common|05/19/|F | |3,927(a) |D | |11,073 |D | |
Stock |00 | | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Right to Buy (ISOP) |$2.88 |05/19|M | |15,000 |D |09/03|09/03|$.0001 Par V|25,000 | |10,000 |D | |
| |/00 | | | | |/99 |/01 |alue Common | | | | | |
| | | | | | | | |Stock | | | | | |
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Right to Buy (ISOP) |$5.62 |N/A | | | | |12/14|12/05|$.0001 Par V|3,203 | |3,203 |D | |
| | | | | | |/99 |/09 |alue Common | | | | | |
| | | | | | | | |Stock | | | | | |
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Right to Buy (ISOP) |$5.62 |N/A | | | | |01/02|01/02|$.0001 Par V|100,000| |100,000 |D | |
| | | | | | |/00 |/00 |alue Common | | | | | |
| | | | | | | | |Stock | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(a) The Reporting Person surrendered 3,927 shares as payment for the cashless
exercise of the option and received a net of 11,073 shares. The
purchase of these shares bought on exercise of the "in-the-money derivative
security" (ie., the option) was exempt under Rule 16b-6(b), and also
was exempt as the exercise of an option granted in accordance with the approval
requirements of Rule 16b-3(d)(1).
SIGNATURE OF REPORTING PERSON
/s/ Richard L. Millspaugh
DATE
July 13, 2000
