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.
1. Name and Address of Reporting Person(s)
SEESER, JAMES W.
2789 Northpoint Parkway
Santa Rosa, CA 95407-7397
2. Issuer Name and Ticker or Trading Symbol
OPTICAL COATING LABORATORY, INC. (OCLI)
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
May 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
Vice President
7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1)Title of Security 2)Trans- 3.Trans- 4.Securities Acquired(A) 5)Amount of 6) 7)Nature of
action action or Disposed of (D) Securities Indirect
Date Code A Beneficially D Beneficial
(Month/ or Owned at or Ownership
Day/Year) Code V Amount D Price End of Month I
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C><C> <C> <C><C>
Common Stock 05/23/97 M 10,000 A $8.9375 D
Common Stock 05/23/97 S 10,000 D $11.2493 D
Common Stock 05/27/97 M 4,000 A $8.9375 D
Common Stock 05/27/97 S 4,000 D $11.1875 D
Common Stock 05/28/97 M 2,000 A $8.9375 D
Common Stock 05/28/97 S 2,000 D $10.3750 D
Common Stock 05/29/97 M 4,000 A $8.9375 D
Common Stock 05/29/97 S 4,000 D $10.5000 8,451 D
Common Stock 12/31/96 J V 175 (1) A $0.0000 (1) 6,069 I Held by ESOP
<CAPTION>
Table II (PART 1) Derivative Securitites Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
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1)Title of 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and
Derivative or Exercise action action Securities Acquired (A) Expiration Date
Security Price of Date Code or Disposed of (D)
Derivative
Security Code V A D Exercisable Expiration
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Non-Qualified Stock Option $8.9375 05/23/97 M 10,000 06/19/93 06/19/97
(right to buy)
Non-Qualified Stock Option $8.9375 05/27/97 M 4,000 06/19/93 06/19/97
(right to buy)
Non-Qualified Stock Option $8.9375 05/28/97 M 2,000 06/19/93 06/19/97
(right to buy)
Non-Qualified Stock Option $8.9375 05/29/97 M 4,000 06/19/93 06/19/97
(right to buy)
Non-Qualified Stock Option $10.2500 12/16/96 (2) A (2) 10,000 (2) (2) 12/16/01
(right to buy)
<CAPTION>
Table II (PART 2) Derivative Securitites Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative 3)Trans- 7)Title and Amount 8)Price 9)Number of 10) 11)Nature of
Security action of Underlying of Deri- Derivative Indirect
Date Securities vative Securities D Beneficial
Amount or Security Beneficially or Ownership
Number of Owned at I
- Title Shares End of Month
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Non-Qualified Stock Option 05/23/97 Common Stock 10,000 D
(right to buy)
Non-Qualified Stock Option 05/27/97 Common Stock 4,000 D
(right to buy)
Non-Qualified Stock Option 05/28/97 Common Stock 2,000 D
(right to buy)
Non-Qualified Stock Option 05/29/97 Common Stock 4,000 0 D
(right to buy)
Non-Qualified Stock Option 12/16/96 Common Stock 10,000 10,000 D
(right to buy) (2)
<FN>
Explanation of Responses:
(1)
Shares are acquired at various prices throughout the year by the issuer's qualified Employee Stock Ownership Plan (ESOP) and
allocated to the reporting person's account at calendar year end. The shares are held for the benefit of the reporting person by
the OCLI/401(k)/ESOP Plan.
(2)
Granted on 12/16/96 under Issuer's Incentive Compensation Plans in a transaction exempt under Rule 16b-3. The option grant carries
a vesting schedule whereby one-third of the grant vests on the first anniversary of the grant with the remaining two-thirds vesting
monthly beginning with the thirteenth month after the date of grant and becoming fully vested at the end of 36 months from the date
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ JAMES W. SEESER
DATE
