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Previous: CROWN GROUP INC /TX/, 10-K405, 1998-08-13 |
Next: TOP SOURCE TECHNOLOGIES INC, NT 10-Q, 1998-08-13 |
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<CAPTION>
- ---------------- U.S. SECURITIES AND EXCHANGED COMMISION ----------------------------
|F O R M 3| Washington, D.C. 20549 | OMB APPROVAL |
- ---------------- |--------------------------|
INITIAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |OMB Number 3235-0104|
|Expires: September 30,1998|
Filed pursuant to Section 16(a) of the Securities Exchanged Act of 1934, |Estimated ave. burden |
Section 17(a) of the Public Utility Holding Company Act of 1935 or |hours per response.....0.5|
Section 30(f) of the Investment Company Act 1940 ----------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
|1.Name and Address of Reporting Person* |2.Date of Event |4.Issuer Name and Ticker or Trading Symbol |
| | Requiring Statement | |
|BROWN GREG | (Month/Day/Year) | TOP SOURCE TECHNOLOGIES, INC. (TPS) |
| | | |
|----------------------------------------| August 3,1998 |-----------------------------------------------------------------|
| (Last) (First) (MI)| |5.Relationship of Reporting Person to |6.If Amendment, Date of |
| | | Issuer (Check all Applicable) | Original (Mon/Day/Year)|
| 7108 FAIRWAY DRIVE, STE. 200 | | | |
| |-----------------------| Director 10% Owner | |
| |3.IRS or Soc. Sec. No. |--- --- |-------------------------|
|----------------------------------------| of Reporting Person | |7.Individual or Joint/ |
| (Street) | (Voluntary) | Officer X Other | Group Filing |
| | |---(give title below)---(Specify below)| (Check Applicable Line)|
| | | | X Form filed by One |
|PALM BCH GARDENS FL 33418-3757| ###-##-#### | Vice President/Top Source |--- Reporting Person |
| | | Instruments, Inc. | Form filed by More |
| | | |--- than Reporting Person|
|----------------------------------------------------------------------------------------------------------------------------------|
| (City) (State) (Zip) |
| TABLE I - Non-Derivative Securities Beneficially Owned |
|----------------------------------------------------------------------------------------------------------------------------------|
|1.Title of Security (Instr. 4) |2.Amount of Securities |3.Ownership |4.Nature of Indirect Beneficial |
| | Beneficially Owned | Form: | Ownership (Instr. 5) |
| | (Instr. 4) | Direct (D) | |
| | | or Indirect | |
| | | (I)(Instr.5)| |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
|<S> |<C> |<C> |<C> |
| Common Stock | 6,112 | D | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
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|------------------------------------------|-----------------------------|--------------|------------------------------------------|
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|------------------------------------------|-----------------------------|--------------|------------------------------------------|
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|------------------------------------------|-----------------------------|--------------|------------------------------------------|
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|------------------------------------------|-----------------------------|--------------|------------------------------------------|
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|------------------------------------------|-----------------------------|--------------|------------------------------------------|
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|------------------------------------------|-----------------------------|--------------|------------------------------------------|
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|------------------------------------------|-----------------------------|--------------|------------------------------------------|
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- ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class securities owned directly or indirectly. SEC 1473 (7-96)
*If the form is filed by more than one reporting person, see Instruction 5(b)(v).
PAGE: 1 OF 2
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<CAPTION>
FORM 3 (continued) TABLE II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible security)
- ------------------------------------------------------------------------------------------------------------------------------------
|1.Title of |2.Date Exercisable and |3.Title and Amount of Underlying |4.Conversion or |5. |6.Nature of |
| Derivative | Expiration Date | Derivative Security (Instr. 4) | Exercise Price |Own. | Indirect |
| Security | (Month/Day/Year) | | of Derivative |Form | Beneficial |
| (Instr. 4) | | | Security |of | Ownership |
| | | | |Deri.| (Instr. 5) |
| | | | |Sec. | |
| | | | |Dir. | |
| | | | |(D) | |
| |-----------------------------|--------------------------------------| |or | |
| |Date |Expiration | |Amount or Number | |Ind. | |
| |Exercisable |Date | Title |of Shares | |(I) | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|<S> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |
|Stock Option | 09/10/1998 | 03/10/2008 |Common Stock | 10,000 | $1.1890 | D | |
| | | | | (01) | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|Stock Option | 01/16/1998 | 07/16/2008 |Common Stock | 15,000 | $1.0000 | D | |
| | | | | (02) | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
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- ------------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses:
(01) Greg K. Brown was granted 10,000 common stock options as part of his Consulting Agreement on March 10, 1998.
Fifty percent of these shares vest in six months and the remaining vest in one year from the date of grant.
(02) Mr. Brown was granted 15,000 common stock options on July 16, 1998. These options are performance based options and are
contingent upon meeting a certain sales goal obtainable by December 31, 1998. If the goal is met, the
options vest during each six-months over a three-year period.
**Intentional misstatements or omissions of facts constitute Federal /s/GREG BROWN 06/24/1998
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------------------ ----------
**Signature of Reporting Person Date
Note: File three copies of this form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure. SEC 1473 (7-96)
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 OMD Number.
BROWN, GREG TOP SOURCE TECHNOLOGIES, INC. PAGE: 2 OF 2
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