<PAGE>
FORM 5
[ ] Check this box if no ------------------------------------
longer subject to OMB APPROVAL
Section 16. Form 4 or ------------------------------------
Form 5 obligations may OMB Number 3235-0362
continue. See Instruction 1(b) Expires: September 30, 1998
[ ] Form 3 Holdings Reported Estimated average burden
[ ] Form 4 Holdings Reported hours per response .............1.0
------------------------------------
U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
ANNUAL 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
- -------------------------------------------------------------------------------
1. Name and Address of Reporting Person*
FULLWOOD MICHAEL D.
--------------------------------------------------------------------
(Last) (First) (MI)
c/o Commodore Environmental Services, Inc.
150 East 58th Street
--------------------------------------------------------------------
(Street)
New York New York 10155
--------------------------------------------------------------------
(City) (State) (Zip)
- -------------------------------------------------------------------------------
2. Issuer Name and Ticker or Trading Symbol
COMMODORE ENVIRONMENTAL SERVICES, INC.
(COES)
- -------------------------------------------------------------------------------
3. IRS Identification Number
of Reporting Person, if an Entity (Voluntary)
- -------------------------------------------------------------------------------
4. Statement for Month/Year | 5. If Amendment, Date of
| Original (Month/Year)
December 31, 1997 |
|
- -------------------------------------------------------------------------------
6. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director [ ] 10% Owner
[ X ] Officer [ ] Other (specify below)
(give title below)
Senior Vice President, Chief Financial and Administrative Officer & Secretary
-----------------------------------------------------------------------------
- -------------------------------------------------------------------------------
7. Individual or Joint/Group Filing
(Check applicable line)
X Form Filed by one Reporting Person
----
Form Filed by more than one Reporting Person
----
<PAGE>
- -------------------------------------------------------------------------------
TABLE I - Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------------
1. Title of Security | 2. Transaction Date | 3. Transaction Code | 4. Security Acquired (A) or Disposed
(Instr. 3) | (Month/Day/Year) | (Instr. 8) | of (D) (Instr. 3, 4 & 5)
| | |
- ------------------------------------------------------------------------------------------------------------------------------------
| | | Amount | (A)or | Price
| | | | (D) |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
===================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------------
1. Title of Security | 5. Amount of Securities | 6. Ownership Form: | 7. Nature of Indirect Beneficial
(Instr. 3) | Beneficially Owned at | Direct (D) or | Ownership (Instr. 4)
| End of Issuer's | Indirect (I) |
| Fiscal Year | (Instr. 4) |
| (Instr. 3 & 4) | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
===================================================================================================================================
</TABLE>
* If the form is filed by more than one Reporting Person,
see Instruction 4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
SEC 2270 (7-96)
<PAGE>
- -------------------------------------------------------------------------------
TABLE II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative Security | 2. Conversion or | 3. Transaction Date | 4. Transaction | 5. Number of Derivative
(Instr. 3) | Exercise Price of | (Month/Day/Year) | Code (Instr.| Securities Acquired
| Derivative Security | | 8) | (A) or Disposed of
| | | | (D) (Instr. 3, 4 & 5)
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | (A) | (D)
- -----------------------------------------------------------------------------------------------------------------------------------
Employee Stock Option | $0.84 | 5/7/97 | A | 500,000 |
(right to buy) | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
===================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative Security | 6. Date Exercisable and | 7. Title and Amount of Underlying | 8. Price of Derivative
(Instr. 3) | Expiration Date | Securities (Instr. 3 & 4) | Security (Instr. 5)
| (Month/Day/Year) | |
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| Date | Expiration | Title | Amount or Number |
| Exercisable | Date | | of Shares |
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
Employee Stock Option | (1) | 5/7/07 | Common | 500,000 | $0.84
(right to buy) | | | Stock | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | | | |
===================================================================================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative Security | 9. Number of Derivative | 10. Ownership of Derivative | 11. Nature of Indirect
(Instr. 3) | Securities Beneficially | Security: Direct (D) or | Beneficial Ownership
| Owned at End of Year | Indirect (I) (Instr. 4) | (Instr. 4)
| (Instr. 4) | |
- -----------------------------------------------------------------------------------------------------------------------------------
Employee Stock Option | 500,000 | D |
(right to buy) | | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
- -----------------------------------------------------------------------------------------------------------------------------------
| | |
===================================================================================================================================
</TABLE>
Explanation of Responses:
(1) Vest 100,000 per year May 7, 1997, 1998, 1999, 2000, 2001.
/s/ Michael D. Fullwood February 17, 1998
- ------------------------------------ -------------------
**Signature of Reporting Person Date
(Michael D. Fullwood)
** 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.
page 2
SEC 2270 (7-96)
