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| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION OMB APPROVAL
+--------+ WASHINGTON, D.C. 20549 --------------------------------
[_] Check this box if OMB Number: 3235-0287
no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Expires: September 30 1998
to Section 16. Estimated average burden
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities hours per response.......... 0.5
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
</TABLE>
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1. Name and Address of Reporting Person
Toppan Printing Co., Ltd.
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(Last) (First) (Middle)
Kanda, Izumi-cho, Chiyda-ku
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(Street)
Tokyo Japan 101
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol Photronics, Inc. PLAB
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year December/1998
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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)
[ ] Director [ ] Officer [X] 10% Owner [ ] Other
(give title below) (specify below)
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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<CAPTION>
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1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
of action action or Disposed of (D) Securities ship of In-
Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene-
Day/ ----------------------------------------------- End of (D) or ficial
Year) Month Indirect Owner-
Code V Amount (A) or Price (Instr. 3 and 4) (I) ship
(D) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 12/22/98 D 250,000 D 13.70 2,430,000 D
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Print or Type Responses)
* If the form is filed by more than one reporting person,
see Instruction 4(b)(v).
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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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<CAPTION>
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1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, 5)
ative Year)
Security
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Code V (A) (D)
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</TABLE>
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)--CONTINUED
<TABLE>
<CAPTION>
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1. Title of Derivative 6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
Security (Instr. 3) cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative Form of In-
Date ative Secur- of De- direct
(Month/Day/ Secur- ities rivative Bene-
Year) ity Bene- Secu- ficial
(Instr. ficially rity: Owner-
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Date Expira- Amount or at End (D) or (Instr.
Exer- tion Title Number of of Indi- 4)
cisable Date Shares Month rect (1)
(Instr. 4) (Instr. 4)
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Explanation of Responses:
**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.
Potential persons who are to respond to collection of information contained in
this form are not required to respond unless the form displays a currently valid
OMB Number.
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**Signature of Reporting Person Date
