FORM 4 OMB APPROVAL
OMB NUMBER:3235-0287
EXPIRES:APRIL 30, 1997
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE 0.5
[ ]Check this box if no longer
subject to Section 16. Form 4
or Form 5 obligations may
continue. See Instruction 1(b).
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
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1. Name and Address of Reporting Person
Kaplan Philip
(Last) (First) (Middle)
c/o Loehmann's, Inc., 2500 Halsey Street
Bronx New York 10461
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2. Issuer Name and Ticker or Trading Symbol
Loehmann's, Inc. (LOEH)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement of Month/Year
October 1996
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5. If Amendment, Date or Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
X Director 10% Owner
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X Officer (give title below) Other
---------- ---------- (specify
below)
President and Chief Operating Officer
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Table I - Non-Derivative Securties Acquired, Disposed of, or Beneficially Owned
<TABLE>
<CAPTION>
2.Transaction 3.Transaction 4.Securities 5.Amount of 6.Ownership 7.Nature of
1. Title of security Date Code Acquired (A) Securities Form: Indirect
(Inst.3) (Month/Day/Year) (Instr. 8) or Disposed Beneficially Direct (D) Beneficial
of (D)(Instr. Owned at End or Ownership
3,4,and 5) of Month Indirect (Instr.4)
(Instr.3 and 4) (I)
(Instr.4)
Code V Amount (A) Price
or
(D)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock,
par value $0.01 per share 10/21/96 S(1) - 78,991 D $28.75 0 D -
10/22/96 X - 12,846 A $1.065 0 D -
10/24/96 S(1) - 15,798 D $28.75 0 D -
</TABLE>
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Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly. (Print or Type Response)
<PAGE>
FORM 4 (CONTINUED)TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF
OR BENEFICIALLY OWNED (E.G., PUTS, CALLS,
WARRANTS, OPTIONS, CONVERTIBLE
SECURITIES)
<TABLE>
<CAPTION>
1. Title of 2. Conversion or 3. Transaction 4.Transaction 5. Number of 6.Date
Derivate Exercise Price Date Code Derivative Exercisable
Security of Derivative (Month/ Securities and Expiration
(Instr.3) Security Day/Year) Acquired (A) Date
or Disposed
(D) (Instr.3, (Month/Day/Year)
4 and 5)
Code V (A) (D) Date Expiration
Exercisable Date
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Stock Option $1.065 10/22/96 X - - 12,846 (2) (2)
</TABLE>
<TABLE>
<CAPTION>
7.Title and 8.Price of 9.Number of 10.Ownership 11.Nature
Amount of Derivative Derivative Form of of
Underlying Security Securities Derivative Indirect
Securities (Instr. 5) Beneficially Security: Beneficial
(Instr.3 and Owned at End Direct (D) Ownership
4) of Month or (Instr.4)
(Instr.4) Indirect (I)
(Instr.4)
Title Amount or
Number of
Shares
<C> <C> <C> <C> <C> <C>
Common Stock, 12,846 (2) 221,174 D -
par value $0.01
per share
</TABLE>
Explanation of Responses:
(1) On October 21 1996, the reporting person sold 78,991 shares of Common
Stock in an underwritten public offering at a price of $28.75 per share. On
October 24,1996, the reporting person sold an additional 15,798 shares of
Common Stock pursuant to the exercise by the underwriters of an
over-allotment option granted in connection with such underwritten public
offering at a price of $28.75 per share.
(2) Represents grants to reporting person of stock options with the folowing
exercise prices, vesting schedules and expiration dates: (i) grants pursuant
to the 1988 Stock Option Plan of options to purchase 196,004 shares of Common
Stock at an exercise price of $1.065 per share; such options are currently
vested and exercisable and expire, with certain exceptions, five years after
the dates of vesting; (ii) November 1995 grant pursuant to the 1988 Stock
Option Plan of options to purchase 14,657 shares of Common Stock at an
exercise price of $5.01 per share; such options vest and become exercisable
in two equal annual installments at the end of each of fiscal 1996 and 1997
and expire, with certain exceptions, five years after the date of vesting;
(iii) February 1996 grant pursuant to the 1988 Stock Option Plan of options
to purchase 6,840 shares of Common Stock at an exercise price of $8.06 per
share; such options vest and become exercisable in two equal annual
installments at the end of each of fiscal 1996 and 1997 and expire, with
certain exceptions, five years after the dates of vesting; (iv) April 1996
grant pursuant to the New Stock Incentive Plan of options to purchase 3,673
shares of Common Stock at an exercise price of $8.06 per share; such options
vest and become exercisable at the end of each of fiscal 1996 and 1997 and
expire, with certain exceptions, on the tenth anniversary of the date of
grant.
**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.
/s/Philip Kaplan 11/5/96
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**Signature of Reporting Person Date
PHILIP KAPLAN
