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OMB APPROVAL
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OMB Number 3235-0287
Expires: April 30, 1997
Estimated average burden
hours per response ....... 0.5
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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 this 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
Goldress Jerry E.
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(Last) (First) (Middle)
809 Ocean Ave., #4
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(Street)
Seal Beach CA 90740
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
APPLIED MAGNETICS CORPORATION (APM)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
01/97
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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 [ ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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<PAGE>
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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>
Common Stock 1/27/97 M 37,500 A $4.125 37,500 D
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
<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>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of 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>
Options
(right to buy) $15.625 11/3/95 A 5,000 (1) 11/3/2000 Common 5,000 D
Stock
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Options
(right to buy) $15.50 3/1/96 A 5,000 (2) 3/1/2001 Common 5,000 D
Stock
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Options
(right to buy) $24.625 11/8/96 A 15,000 (3) 11/8/2001 Common 15,000 D
Stock
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Options
(right to buy) $4.125 1/27/97 M 37,500 12/21/1999 Common 37,500 25,000 D
Stock
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</TABLE>
Explanation of Responses:
See p. 4.
/s/ Jerry E. Goldress 2/7/97
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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).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedures.
<PAGE>
FORM 4 (continued)
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
================================================================================
1. Name and Address of Reporting Person
Goldress Jerry E.
- - --------------------------------------------------------------------------------
(Last) (First) (Middle)
809 Ocean Ave., #4
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(Street)
Seal Beach CA 90740
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
APPLIED MAGNETICS CORPORATION (APM)
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4. Statement for Month/Year
01/97
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Explanation of Responses (continued):
(1) Grant to reporting person to buy 5,000 shares of common stock under Applied
Magnetics Corporation 1994 non-employee Director Stock Option Plan
intransaction exempt under Rule 16b-3. The options become exercisable in
33 1/3% increments on 11/3/96, 11/3/97, 11/3/98.
(2) Grant to reporting person to buy 5,000 shares of common stock under Applied
Magnetics Corporation 1994 non-employee Director Stock Option Plan
intransaction exempt under Rule 16b-3. The options become exercisable on
3/1/97, 3/1/98, 3/1/99.
(3) Grant to reporting person to buy 20,000 shares of common stock under
Applied Magnetics Corporation 1994 non-employee Director Stock Option Plan
intransaction exempt under Rule 16b-3. The options become exercisable one
year from date of grant on 11/8/97.
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