UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Greenberg, Scott N.
9 Eli Circle
Morganville, NJ 07751
2. Issuer Name and Ticker or Trading Symbol
GP STRATEGIES CORPORATION
GPX
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
7/1/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Executive Vice President and Chief Financial Officer
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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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |7/1/98|J(1)| |1,006 |A |$14.625 |12,038 |D | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Option |$14.625 |7/1/9|A(1)| |1,006 |A |(2) |12/31|Common Stock|1,006 |$14.625|(2) |D | |
(Right to Buy) | |8 | | | | | |/04 | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Acquisition on 7/1/98 of 1,006 shares of GP Strategies Common Stock at a
price of $14.625 per share, the
closing price on the New York Stock Exchange on 6/30/98, pursuant to the
provisions of Section 2.1(c)(1) of the
Agreement and Plan of Merger among the Issuer, General Physics Corporation and
GPX Acquisition, Inc. dated
as of 11/19/96 and amended on
12/18/96.
(2) The number of derivitive securities is not determinable at this time
because the number of securities that
might be issued is dependent upon a formula based on the last business day
before 7/1/99.
SIGNATURE OF REPORTING PERSON
Scott N. Greenberg
DATE
August 3, 1998