FORM 4
U. S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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 Utility Holding
Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Agway Inc. (1)
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(Last) (First) (Middle)
333 Butternut Drive
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(Street)
DeWitt New York 13214
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Planet Polymer Technologies, Inc. (POLY)
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3. IRS Identification Number of Reporting Person if an
Entity (Voluntary) 15-0277720
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4. Statement for Month/Year 11/14/00
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5. If Amendment, Date of Original (Month/Day/Year) N/A
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) Officer (X) 10% Owner (X) Other
(give title below) (specify below)
Member of 13d group owning more than 10%. (1)
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7. Individual or Joint/Group Filing (Check Applicable Line)
Form Filed by One Reporting Person
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X Form filed by More than One Reporting Person
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*If this Form is filed by more than one Reporting Person, See Instruction
5(b)(v).
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<TABLE>
<CAPTION>
TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Transaction Date 3. Transaction Code 4. Securities Acquired (A)
(Instr. 3) (Instr. 8) or Disposed of (D)
(Instr. 3, 4, and 5)
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(Month/Day/Year) Code V Amount (A) or (D) Price
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<S> <C> <C> <C> <C>
Common Stock
No Par Value 11/14/00 X V 1,000,000 A $0.75 (2)
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TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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5. Amount of Securities 6. Ownership Form: 7. Nature of Indirect
Beneficially Owned at Direct (D) or Beneficial Ownership
End of Month Indirect (I) (Instr. 4)
(Instr. 3 and 4) (Instr. 4)
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3,000,000 shares D
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
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<TABLE>
<CAPTION>
TABLE II-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
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1. Title of 2. Conversion 3. Trans- 4. Trans- 5. Number 6. Date Exer- 7. Title and
Derivative or action action Derivative cisable Amount of
Security Exercise Date Code Securities Expiration Undlying
Security Price of (Instr. 8) Acquired (A) Date Securities
(Instr. 3) Derivative (Month/ or (Month/Day/Year) (Instr. 3
Security Day/ Disposed of (D) and 4)
Year) (Instr. 3, 4, and 5)
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Date Expiration
Code V (A) (D) Exercisable Date Title
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock Common Stock
Warrants $0.75 11/14/00 X V 1,000,000 11/14/00 1/11/01 No Par Value
</TABLE>
TABLE II-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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8. Price 9. Number 10. Ownership 11. Nature
of of Derivative Form of of
Derivative Securities Derivative Indirect
Security Beneficially Security Benefi-
Instr. 5) Owned at Direct (D) cial
End of or Owner-
Month Indirect (I) ship
Instr. 4) (Instr. 4) (Instr. 4)
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Amount or
Number of
Shares
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<S> <C> <C> <C> <C>
1,000,000 (2) $0.75 0 D See Note (1)
which
describes
relationship
with parties.
</TABLE>
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Explanation of Responses:
(1) This Form is filed on behalf of (i) Agway Inc., a Delaware corporation
("Agway"); (ii) Agway Financial Corporation (IRS Identification Number
06-1174232), a Delaware corporation and wholly owned subsidiary of Agway
("AFC"); and (iii) Agway Holdings Inc. (IRS Identification Number 06-1174231), a
Delaware corporation and wholly owned subsidiary of AFC ("AHI"). Each of the
foregoing is hereinafter referred to, individually, as a "Reporting Person" and,
collectively, as the "Reporting Persons."
(2) Agway Holdings Inc. ("AHI") elected to acquire and purchased 1,000,000
shares of Planet Common Stock on November 14, 2000, for $0.75 per share from the
1,000,000 shares then available to AHI under the Warrant dated January 11, 1999,
as amended. Under the Warrant, as revised. AHI had the right through January 11,
2001, to purchase up to all or any part of 1,000,000 Warrant shares of Common
Stock of Planet for $1 per share. Pursuant to an Agreement dated November 14,
2000, in response to an offer by Planet to reduce the warrant exercise price
from $1.00 per share to $0.75 per share, AHI agree to exercise the remaining
Warrants to purchase 1,000,000 shares of Planet Common stock immediately at
$0.75 per share.
November 17, 2000
/s/ Peter J. O'Neill
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Agway Inc.
by: Peter J. O'Neill
Senior Vice President
Finance & Control
/s/ Peter J. O'Neill
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Agway Financial Corporation
by: Peter J. O'Neill
Vice President & Director
/s/ Peter J. O'Neill
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Agway Holdings Inc.
by: Peter J. O'Neill
Vice President & Director
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S. C. 78ff(a).
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