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FORM 4 OMB APPROVAL
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[ ] Check this box if no longer OMB Number 3235-0287
subject to Section 16 Form 4 or Expires: September 30, 1998
Form 5 obligations may continue. Estimated average burden
See Instruction 1(b). hours per response ......... 0.5
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Miller, III Lloyd I
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(Last) (First) (Middle)
4550 Gordon Drive
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(Street)
Naples FL 34102
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Porta Systems Corporation (PSI)
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3. IRS or Social Security Number of Reporting Person
(Voluntary)
###-##-####
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4. Statement for Month/Year
August, 1998
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5. If Amendment, Date or Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
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Officer (give Other (specify
----- title below) ----- below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
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Form filed by More than One Reporting Person
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TABLE I - Non-Derivative Securities Acquired, Disposed of or Beneficially Owned
<TABLE>
<CAPTION>
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of Indirect
Date Code (Instr. 3, 4 and 5) Beneficially Form: Beneficial
(Instr. 8) Owned at Direct Owner-
(Month/ End of Month (D) or ship
Day/ ------------------------------------------ Indirect
Year) (A) or (I)
Code V Amount (D) Price (Instr. 3 and 4) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 8/17/98 P 26,400(1) A $2.500 I By Milfam II
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Common Stock 8/18/98 P 6,000(1) A $2.650 I By Milfam II
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Common Stock 8/19/98 P 1,900(1) A $2.500 I By Milfam II
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Common Stock 8/21/98 P 6,700(1) A $2.500 470,763(1) I By Trust A-4
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Common Stock 8/27/98 P 37,000(1) $2.209 181,762(1) I By Milfam II
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Common Stock 34,247 D
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Common Stock 1,000(1) I By wife
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Common Stock 694,503(1) D By Milfam I,
L.P.P
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Common Stock 363,705(1) I By Trust C
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</TABLE>
Reminder: Report on a separate line for each class of (Over)
securities beneficially owned directly or indirectly. SEC 1474(7-96)
*If the form is filed by more than one reporting person,
see Instruction 4(b)(v).
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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)
<TABLE>
<CAPTION>
1. TITLE OF DERIVATIVE SECURITY 2. CONVERSION 3. TRANSACTION 4. TRANSACTION 5. NUMBER OF DERIVATIVE 6. DATE EXERCISABLE
(INSTR. 3) OR EXERCISE DATE (MONTH/ CODE (INSTR. 8) SECURITIES ACQUIRED (A) AND EXPIRATION
PRICE OF DAY/YEAR) OR DISPOSED OF (D) DATE (MONTH/DAY/
DERIVATIVE (INSTR. 3, 4, AND 5) YEAR)
SECURITY -------------------
DATE
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CODE V (A) (D) CISABLE DATE
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
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Non-Qualified Stock Option $3.85 5/98 A 2,000 11/1/98 4/31/08
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Series B Warrants
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Series B Warrants
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Series B Warrants
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Series B Warrants
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Series B Warrants
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Series B Warrants
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Series B Warrants
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</TABLE>
<TABLE>
<CAPTION>
7. TITLE AND AMOUNT OF 8. PRICE OF 9. NUMBER OF 10. OWNERSHIP 11. NATURE OF
UNDERLYING SECURITIES DERIVATIVE DERIVATIVE FORM OF INDIRECT
(INSTR. 3 AND 4) SECURITY SECURITIES DERIVATIVE BENEFICIAL
(INSTR. 5) BENEFICIALLY SECURITY: OWNERSHIP
OWNED AT END DIRECT (D) (INSTR. 4)
OF MONTH INDIRECT (I)
(INSTR. 4) (INSTR. 4)
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AMOUNT OR
TITLE NUMBER OF
SHARES
<S> <C> <C> <C> <C> <C>
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Common Stock 2,000 N/A 2,000 D
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Common Stock 25,000 N/A 75,000(1) I By Trust A-2
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Common Stock 25,000 N/A 75,000(1) I By Lloyd Miller Keogh Plan
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Common Stock 5,000 N/A 15,000(1) I Trust f/b/o Kimberly I
Miller
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Common Stock 5,000 N/A 15,000(1) I Trust f/b/o Catherine
Miller
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Common Stock 5,000 N/A 15,000(1) I UGMA Alexandra Miller
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Common Stock 5,000 N/A 15,000(1) I Trust Lloyd I Miller
GST
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Common Stock 5,000 N/A 15,000(1) I UGMA Loyd I Miller, IV
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</TABLE>
Explanation of Responses:
(1) The reporting person disclaims beneficial ownership of these securities, and
thisreport shall not be deemed an admission that the reporting person is the
beneficial owner of such securities for the purposes of Section 16 or for
any other purpose, except to the extent of his pecuniary interest therein.
** 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 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 unless the form displays a currently
valid OMB Number.
/s/ Lloyd I. Miller, III 9/10/98
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**Signature of Reporting Person Date
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SEC 1474 (7-96)
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