UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue.
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported
1. Name and Address of Reporting Person(s)
PIETRELLI, KENNETH D.
4873 HOEN AVENUE
SANTA ROSA, CA 95405
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
10/97
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, Corporate
Services
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 Amount D Price End of Year I
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<S> <C> <C> <C> <C><C> <C> <C><C>
Common Stock 11,945 D Direct
Common Stock 2,950 I 401K Plan
Common Stock 12/31/96 (1)J (1) 220 (1) A $0.000000 (1)7,045 I Held by ESOP (1)
<CAPTION>
Table II (PART 1) Derivative Securitites Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
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1)Title of Derivative 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and
Security or Exercise action action Securities Acquired (A) Expiration Date
Price of Date Code or Disposed of (D)
Derivative
Security Code A D Exercisable Expiration
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<S> <C> <C> <C> <C> <C> <C> <C>
Non-Qualified Stock Option $10.187500 03/18/97 A (2) 10,000 03/18/98 (3) 03/18/02
(right to buy)
Non-Qualified Stock Option $10.250000 12/16/96 A 15,000 12/16/97 (4) 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)
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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 Year
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<S> <C> <C> <C> <C> <C> <C> <C>
Non-Qualified Stock Option 03/18/97 Common Stock 10,000 10,000 D Direct
(right to buy)
Non-Qualified Stock Option 12/16/96 Common Stock 15,000 15,000 D Direct
(right to buy)
<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)
Right to buy granted under the issuer's Employee Stock Option Plan, a Rule 16b-3 plan.
(3)
Stock options granted on 3/18/97 under the Issuer's 1996 Incentive Compensation Plan in a transaction exempt under Rule 16b-3. The
options carry a vesting schedule whereby one-third (1/3) of the grant vests on the first anniversary of the grant. The remaining
two-thirds (2/3) vest on a monthly basis, on the day of the month the grant was made, over the next two years.
(4)
Granted on 9/15/97 under the 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
(2/3) vesting on a monthly basis, on the day of the month the grant was made, over the next two years.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ PIETRELLI, KENNETH D.
DATE
