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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 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*
Blutt, Mitchell J.
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(Last) (First) (Middle)
Chase Equity Associates, LLC (FN 1)
c/o Chase Capital Partners
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(Street)
380 Madison Avenue - 12th Floor
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(City) (State) (Zip)
New York New York 10017
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2. Issuer Name and Ticker or Trading Symbol
Hanger Orthopedic Group, Inc. ("HGR")
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
February 2000
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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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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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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 N/A N/A N/A N/A N/A 796,040 I (FN 2)
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* 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)
(Form 4-07/99)
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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>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or 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>
Warrants (right $4.16 N/A 225,914 8/6/91 12/31/01 Common 225,914 -0- 225,914 I (FN 2)
to purchase) Stock
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Warrants (right $7.65 N/A 244,735 11/5/91 2/31/01 Common 244,735 -0- 244,735 I (FN 2)
to purchase) Stock
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Warrants (right $6.375 N/A 150,817.5 11/1/96 11/1/04 Common 150,817.5 -0- 150,817.5 I (FN 2)
to purchase) Stock
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Warrants (right $4.00865 N/A 204,182.5 11/1/96 11/1/04 Common 204,182.5 -0- 204,182.5 I (FN 2)
to purchase) Stock
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7% Redeemable $16.50 7/1/99 P 3,030,303 Immed. Non-Voting 3,030,303 $1,000 3,030,303 I (FN 2)
Preferred Stock Common
Stock
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Explanation of Responses:
(1) Prior to July 1, 1999, Chase Venture Capital Associates, LP ("CVCA, LP"), an
affiliate of Chase Equity Associates, LP("CEA, LP"), owned the equity securities
of the Issuer reflected in Tables I and II. CVCA, LP caused the securities to be
transferred to CEA, LP effective as of such date. Pursuant to an internal
reorganization effective as of January 1, 2000, (i) Chase Equity Associates, LLC
("CEA, LLC") became the successor to CEA, LP, and (ii) CCP-CMC Consolidating,
LLC ("Consolidating"), a newly-organized affiliate of CEA, LLC and Chase Capital
Partners ("CCP"), became the sole member of CEA, LLC. CCP is the managing member
of Consolidating, and pursuant to a master advisory agreement with
Consolidating, the manager, by delegation, of CEA, LLC. Prior to the internal
reorganization, CCP was the general partner, and the sole shareholder of
Consolidating was the limited partner, of CEA, LP. The internal reorganization
changed CEA, LP's name and form of organization but did not alter the
proportionate interests of its ultimate security holders.
(2) The amounts shown in Tables I and II represent the beneficial ownership of
the Issuer's equity securities by CEA, LLC, a portion of which may be deemed
attributable to the reporting person because the reporting person is a partner
of CCP, which is the managing member of Consolidating and manager, by
delegation, of CEA, LLC pursuant to an advisory agreement with Consolidating.
The actual pro rata portion of such beneficial ownership that may be deemed
attributable to the reporting person is not readily determinable because it is
subject to several variables, including the internal rate of return and vesting
within CCP and CEA, LLC.
/s/ Mitchell J. Blutt 3/9/2000
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Mitchell J. Blutt 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 procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond Page 2 of 2
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