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OMB APPROVAL
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FORM 4
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
[_] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
(Print or Type Responses)
________________________________________________________________________________
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)
________________________________________________________________________________
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, if an entity (Voluntary)
###-##-####
________________________________________________________________________________
4. Statement for Month/Year
June, 2000
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________________________________________________________________________________
5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[X] Director [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
________________________________________________________________________________
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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<TABLE>
<CAPTION>
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) (Month/Day/Year) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Common Stock 6/5/2000 S 33,500(1) D(1) $2.14 I By Trust A-4
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Common Stock 6/6/2000 S 18,900(1) D(1) $2.216 I By Trust A-4
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Common Stock 6/8/2000 S 17,650(1) D(1) $2.133 I By Trust A-4
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Common Stock 6/12/2000 S 37,000(1) D(1) $2.75 I By Trust A-4
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Common Stock 6/19/2000 S 12,700(1) D(1) $2.00 351,013(3) I By Trust A-4
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Common Stock 6/5/2000 S 33,500(1) D(1) $2.14 I By Trust C
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Common Stock 6/6/2000 S 18,900(1) D(1) $2.216 I By Trust C
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Common Stock 6/8/2000 S 17,650(1) D(1) $2.133 I By Trust C
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Common Stock 6/12/2000 S 36,900(1) D(1) $2.75 I By Trust C
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Common Stock 6/15/2000 S 1,500(1) D(1) $2.125 I By Trust C
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Common Stock 6/16/2000 S 1,100(1) D(1) $2.00 254,155(3) I By Trust C
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Common Stock 6/2/2000 S 42,000(1) D(1) $2.00 I By Milfam I,
L.P.
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
(Over)
SEC 1474 (7-96)
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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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<TABLE>
<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>
Non-Qualified Common
Stock Option $3.85 5/98 04/30/08 Stock 2,000(2) 2,000 D
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Common
Series B Warrants $3.00 1/98 12/31/02 Stock 25,000(3) 25,000 I By Trust A-2
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Common
Series B Warrants $3.00 1/98 12/31/02 Stock 25,000(3) 25,000 I By Keogh
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Trust f/b/o
Common Kimberly I.
Series B Warrants $3.00 1/98 12/31/02 Stock 5,000(3) 5,000 I Miller
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Trust f/b/o
Common Catherine
Series B Warrants $3.00 1/98 12/31/02 Stock 5,000(3) 5,000 I Miller
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UGMA
Common Alexandra
Series B Warrants $3.00 1/98 12/31/02 Stock 5,000(3) 5,000 I Miller
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Trust
Common Lloyd I.
Series B Warrants $3.00 1/98 12/31/02 Stock 5,000(3) 5,000 I Miller GST
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UGMA
Common Lloyd I.
Series B Warrants $3.00 1/98 12/31/02 Stock 5,000(3) 5,000 I Miller, IV
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</TABLE>
Explanation of Responses:
(1) Shares sold pursuant to a prospectus
(2) These options are granted pursuant to the Company's 1996 Long-Term Incentive
Plan, a 16b-3 plan, and are exercisable in installments.
(3) The reporting person disclaims beneficial ownership of these securities, and
this report 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.
/s/ Lloyd I. Miller, III 7/10/00
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**Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
** 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.
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<TABLE>
<CAPTION>
<S> <C> <C>
1. Name and Address of 2. Issuer Name and Ticker 3. Statement for Month/Year
Reporting Person* or Trading Symbol
Miller, III Lloyd I Porta Systems Corporation (PSI) June, 2000
</TABLE>
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(Continued)
================================================================================
Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
================================================================================
<TABLE>
<CAPTION>
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) (Month/Day/Year) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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By Milfam I,
Common Stock 6/6/2000 S 37,500(1) D(1) $2.16 I L.P.
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By Milfam I,
Common Stock 6/7/2000 S 47,900(1) D(1) $2.39 I L.P.
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By Milfam I,
Common Stock 6/9/2000 S 26,400(1) D(1) $2.441 I L.P.
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By Milfam I,
Common Stock 6/13/2000 S 41,500(1) D(1) $2.4809 I L.P.
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By Milfam I,
Common Stock 6/14/2000 S 300(1) D(1) $2.1875 I L.P.
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By Milfam I,
Common Stock 6/14/2000 S 7,400(1) D(1) $2.125 I L.P.
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By Milfam I,
Common Stock 6/27/2000 S 50,000(1) D(1) $1.6875 441,502(3) I L.P.
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By Milfam I,
Common Stock 1,000(3) I L.P.
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Common Stock 181,462(3) I By Wife
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By Milfam I,
Common Stock 54,246(3) D L.P.
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====================================================================================================================================
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
(Over)
SEC 1474 (7-96)
3 of 4
<PAGE> 4
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
================================================================================
<TABLE>
<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>
Common
Series C Warrants $1,90 1/99 12/31/03 Stock 6,250(3) 6,250 I By Trust A-2
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Common
Series C Warrants $1.90 1/99 12/31/03 Stock 6,250(3) 6,250 I By Keogh
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Trust f/b/o
Common Kimberly I.
Series C Warrants $1.90 1/99 12/31/03 Stock 1,250(3) 1,250 I Miller
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Trust f/b/o
Common Catherine
Series C Warrants $1.90 1/99 12/31/03 Stock 1,250(3) 1,250 I Miller
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UGMA
Common Alexandra
Series C Warrants $1.90 1/99 12/31/03 Stock 1,250(3) 1,250 I Miller
------------------------------------------------------------------------------------------------------------------------------------
Trust
Common Lloyd I.
Series C Warrants $1.90 1/99 12/31/03 Stock 1,250(3) 1,250 I Miller GST
------------------------------------------------------------------------------------------------------------------------------------
UGMA
Common Lloyd I.
Series C Warrants $1.90 1/99 12/31/03 Stock 1,250(3) 1,250 I Miller, IV
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====================================================================================================================================
</TABLE>
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