U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
FORM 4
- ----- Check this box if no longer
subject to Section 16. Form 4
or Form 5 obligations may continue.
SEE Instruction 1(b).
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.
1. Name and Address of Reporting Person:
CALIANESE MCPARTLAND ELIZABETH J.
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(Last) (First) (Middle)
521 ORADELL AVENUE
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(Street)
ORADELL NJ 07649
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol:
EMERSON RADIO CORP. (MSN-AMEX)
3. IRS or Social Security Number of Reporting Person (Voluntary):
###-##-####
4. Statement for (Month/Year): 03/98
5. If Amendment, Date of Original (Month/Year):
6. Relationship of Reporting Person to Issuer (Check all applicable):
Director 10% Owner
- ----- -----
X Officer (give title below): Other (specify below):
- ----- -----
VICE PRESIDENT-HUMAN RESOURCES, SECRETARY
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<TABLE>
TABLE I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
<C> <C> <C> <C> <C> <C> <C>
1.Title of 2.Trans- 3.Trans- 4.Secur- 5.Amount 6.Own- 7.Nature
Security action action ities of ership of In-
(Instr.3) Date Code Acquired Securi- Form: direct
(Month/ (Instr. (A) or ties Direct Bene-
Day/ 8) Disposed Benefi- (D) or ficial
Year) of (D) cially In- Owner-
(Instr. Owned at direct ship
3,4 and End of (I) (Instr.
5) Month (In- 4)
(Instr. str.
3 and 4) 4)
- -------- ------- ------- ------ ------- ------ -------
NONE
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
<TABLE>
TABLE II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(E.G., puts, calls, warrants, options, convertible securities):
<C> <C> <C> <C> <C> <C>
1.Title 2.Conversion 3.Trans- 4.Trans- 5.Number 6.Date
of or Exercise action action Code of Deriv- Exer-
Derivative Price of Date (Instr.8) ative cisable
Security Derivative (Month/ Securi- and Ex-
(Instr.3) Security Day/Year) ties piration
Acquired Date
(A) or (Month/
Disposed Day/
of (D) Year)
(Instr.
3,4 and
5)
- -------- ---------- -------- --------- ------- -------
EMPLOYEE $2.25 05/13/97 D (1) 10,000 Exercis.:
STOCK (D) (2)
OPTION Exp.:
(RIGHT 10/1/06
TO BUY) (2)
EMPLOYEE $1.00 05/13/97 A 10,000 Exercis.:
STOCK (A) (2)
OPTION Exp.:
(RIGHT 10/1/06
TO BUY) (2)
</TABLE>
<TABLE>
<C> <C> <C> <C> <C>
7. Title 8.Price of 9.Number 10. Owner- 11.Nature
and Derivative of Deriv- ship Form of In-
Amount of Security ative of Deriva- direct
Underlying (Instr. 5) Securities tive Secur- Bene-
Securi- Bene- ity: ficial
ties ficially Direct (D) Owner-
(Instr.3 Owned at or Indirect ship
and 4) End of (I) (Instr.4)
Month (Instr.4)
(Instr.4)
- ---------- ---------- --------- ---------- --------
Common -0- D
Stock
30,000
Common 30,000 D
Stock
30,000
</TABLE>
Explanation of Responses:
(1) Cancellation of option in connection with grant of replacement option due to
repricing of the existing option.
(2) The reported transaction involved the repricing of an existing option which
provided for vesting in three equal installments beginning October 1, 1997. The
vesting terms remain unchanged.
/s/ Elizabeth J. Calianese McPartland March 23, 1998
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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).
