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. See Instructions 1(b).
( ) Form 3 Holdings Reported
( ) Form 4 Transactions Reported
1. Name and Address of Reporting Person
HANSON, JOHN N.
3600 South Lake Drive
St. Francis, WI 53235
US
2. Issuer Name and Ticker or Trading Symbol
HARNISCHFEGER INDUSTRIES, INC.
HPH
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
10/31/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Vice Chairman, President and Chief Operating Officer
7. Individual or Joint/Group Reporting (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
|Transaction| or Disposed of (D) | Securities |ect | Beneficial Ownership |
|Date |Code| | Beneficially |(D)or | |
| | | | A/| | Owned at |Indir | |
| | | Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON STOCK |7/798 |A(1)|106 |A |$21.656 |(1) |(1) |(1) |
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COMMON STOCK |10/6/9|A(1)|291 |A |$7.922 |(1) |(1) |(1) |
|8 | | | | | | | |
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COMMON STOCK |10/14/|F(2)|10,845 |D |$6.50 |0 | | |
|98 | | | | | | | |
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COMMON STOCK |7/7/98|A(3)|13 |A |$28.875 |(3) |(3) |(3) |
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COMMON STOCK |10/6/9|A(3)|36 |A |$10.563 |(3) |(3) |(3) |
|8 | | | | | | | |
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COMMON STOCK |10/14/|F(4)|1,771 |D |$6.50 |139,837(1)(3) |D | |
|98 | | | | | | | |
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise Pr | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|ice of | | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity | | | Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Empl. Stock Options (Rig|37.88 |-- |-- |-- -- |A,D|4/13/|10/13|Common Stock|31,000 |-- |31,000 |D |-- |
hts to Buy)(5) | | | | | |97-00|/06 | | | | | | |
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Empl. Stock Options (Rig|31.25 |-- |-- |-- -- |A,D|4/9/9|10/9/|Common Stock|26,000 |-- |26,000 |D |-- |
hts to Buy)(5) | | | | | |6-99 |05 | | | | | | |
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Empl. Stock Options (Rig|6.85 |10/14|A |12,616 -- |A,D|10/14|10/14|Common Stock|12,616 |$6.85 |12,616 |D |-- |
hts to Buy)(5) | |/98 | | | |/98 |/08 | | | | | | |
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Empl. Stock Options (Rig|15.92 |-- |-- |-- -- |A,D|11/29|2/19/|Common Stock|6,191 |-- |6,191 |D |-- |
hts to Buy)(6) | | | | | |/94 |03 | | | | | | |
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</TABLE>
Explanation of Responses:
(1) Shares acquired under the automatic dividend reinvestment feature of the
Harnischfeger Industries, Inc. ("HII") Executive Incentive Plan ("EIP") and
following acquisition, held indirectly through a "rabbi" trust. On October 14,
1998, shares held in the reporting person's EIP account in such trust were
distributed to the reporting person and are reflected in the reporting person's
direct end-of-period holdings of Common Stock. (2) Shares withheld
from distribution of EIP "rabbi" trust account to satisfy the reporting
person's tax liability resulting from such distribution. (3) Shares acquired
under the
automatic dividend reinvestment feature of the HII Supplemental Retirement and
Stock Funding Plan ("SRP") and following acquisition, held indirectly
through a "rabbi" trust. On October 14, 1998, shares held in the reporting
person's SRP account in such trust were distributed to the reporting person
and are reflected in the reporting person's direct end-of-period holdings of
Common Stock. (4) Shares withheld from distribution of SRP "rabbi" trust
account to satisfy the reporting person's tax liability resulting from such
distribution. (5) Options granted under the HII 1988 Incentive Stock Plan or
the HII 1996 Stock Incentive Plan. Options under the plans generally become
exercisable in 25% increments at four 12 month intervals commencing 6
months from the date of grant and expire 10 years after the date of grant;
however, options granted on 10/14/98 were exercisable on the date of
grant. (6) Options granted under the Joy Technologies Inc. ("Joy") 1991 Stock
Option and Equity Incentive Plan. These options were converted to
options for HII Common Stock under the Agreement and Plan of Merger entered
into between HII and Joy dated November 29, 1994.
SIGNATURE OF REPORTING PERSON
/s/ John N. Hanson
DATE
12/8/98
