U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 4
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).
1. Name and Address of Reporting Person
CORBY, FRANCIS M., JR.
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
4/7/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Executive Vice President for Finance and Administration
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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 |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
COMMON STOCK |1/15/9|G |V|1,600 |D |-- |3,900 |D |-- |
|8 | | | | | | | | |
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COMMON STOCK |1/15/9|G |V|1,600 |A |-- |5,100 |I |(1) |
|8 | | | | | | | | |
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COMMON STOCK |-- |-- |-|-- |-- |-- |961 |I |(2) |
| | |-| | | | | | |
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COMMON STOCK |12/26/|A |V|15,654 |A |31.336 | | | |
|98 | | | | | | | | |
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COMMON STOCK |1/6/98|A |V|456 |A |28.172 | | | |
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COMMON STOCK |4/7/98|A |V|536 |A |24.047 |129,311 |I |(3) |
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COMMON STOCK |12/26/|A |V|4,254 |A |41.780 | | | |
|98 | | | | | | | | |
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COMMON STOCK |1/6/98|A |V|139 |A |37.563 | | | |
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COMMON STOCK |4/7/98|A |V|163 |A |32.063 |52,450 |I |(4) |
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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 | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price 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 |Date |Code|V| Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Empl. Stock Options (R|31.25 |-- |-- |-|-- -- |A,D|4/9/9|10/9/|Common Stock|21,000 |-- |21,000 |D |-- |
ights to Buy)(5) | | | |-| | |6-99 |05 | | | | | | |
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Empl. Stock Options (R|26.50 |-- |-- |-|-- -- |A,D|4/3/9|10/3/|Common Stock|15,000 |-- |15,000 |D |-- |
ights to Buy)(5) | | | |-| | |5-98 |04 | | | | | | |
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Empl. Stock Options (R|19.63 |-- |-- |-|-- -- |A,D|4/4/9|10/4/|Common Stock|15,000 |-- |15,000 |D |-- |
ights to Buy)(5) | | | |-| | |4-97 |03 | | | | | | |
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Empl. Stock Options (R|17.25 |-- |-- |-|-- -- |A,D|4/5/9|10/5/|Common Stock|7,500 |-- |7,500 |D |-- |
ights to Buy)(5) | | | |-| | |3-96 |02 | | | | | | |
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Empl. Stock Options (R|37.88 |-- |-- |-|-- -- |A,D|4/13/|10/13|Common Stock|26,000 |-- |26,000 |D |-- |
ights to Buy)(5) | | | |-| | |97-00|/06 | | | | | | |
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Stock Units (6) |1-for-1 |1/6/9|A |V|340 -- |A,D|(6) |(6) |Common Stock|340 |-- | | | |
| |8 | | | | | | | | | | | | |
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Stock Units (6) |1-for-1 |4/7/9|A |V|400 -- |A,D|(6) |(6) |Common Stock|400 |-- |96,609 |D |-- |
| |8 | | | | | | | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Held by three sons. (2) Held in trust pursuant to the Harnischfeger
Industries, Inc. ("HII") Employee Savings Plan ("ESP"). (3) Held in "rabbi"
trust
pursuant to the HII Executive Incentive Plan. Acquisition of shares under the
Plan's annual allocation and automatic dividend reinvestment features.
(4) Held in "rabbi" trust pursuant to the HII Supplemental Retirement and Stock
Funding Plan. Acquisition of shares under the plan's annual allocation
and automatic dividend reinvestment features. (5) Options granted under the
1988 Plan or the HII 1996 Stock Incentive Plan. Options under the plan
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. (6) Stock Units held in "rabbi" trust until a payment date dependant
upon five variables referred to in the Grant Letter. Acquisition of Stock
Units pursuant to the dividend equivalent feature of the Grant
Letter.
SIGNATURE OF REPORTING PERSON
/s/ Francis M. Corby, Jr.
DATE
5/19/98
