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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 box if no longer subject of 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*
Zinn Michael F.
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(Last) (First) (Middle)
1151 Flatbush Road
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(Street)
Kingston NY 12401
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Besicorp Group Inc. (BGI.EC)
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
January 1999
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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)
[X] Director [X] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
President and CEO
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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>
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Common Stock 1/05/99 M 20,000 A $3.00 D
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Common Stock 1/05/99 M 25,000 A $1.88 1,572,252(1) D
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Common Stock 1/05/99 M 2,000 A $3.00 59,669 I By Spouse
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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.
(Print or Type Responses)
(1) Includes 59,669 shares and 19,787 shares owned by the reporting person's
spouse and child, respectively. The 59,669 shares are also separately
reflected in Table I as owned by the reporting person's spouse. Does not
include 126,984 shares owned by The Zinn Family Charitable Trust (the
"Trust"). The reporting person disclaims beneficial ownership of the common
stock owned by such persons and the Trust.
<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>
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Options to Buy $3.00 1/05/99 M 20,000 02/05/02(3) 02/05/09 Common 22,000 (2) O D (2)
Stock
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Warrants to Buy $1.88 1/05/99 M 25,000 11/06/91 11/06/00 Common 25,000 O D
Stock
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Options to Buy $3.00 1/05/99 M 2,000 02/05/02(3) 02/05/07 Common 2,000 O I By Spouse
Stock
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</TABLE>
Explanation of Responses:
(2) Includes the options to acquire 2,000 shares of common stock held by the
reporting person's spouse, which options are separately reflected in Table
II and as to which the reporting person disclaims beneficial ownership.
(3) The date such options first became exercisable was accelerated
so that such options became exercisable in full on January 1, 1999.
/s/ Michael F. Zinn February 5, 1999
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Michael F. Zinn 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.
