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FORM 4
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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
|_| 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)
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1. Name and Address of Reporting Person*
David M. Schulte
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(Last) (First) (Middle)
875 North Michigan Avenue
Suite 2100
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(Street)
Chicago, Illinois 60611
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
NutraMax Products (NMPC)
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3. IRS or Social Security Number of
Reporting Person (Voluntary)
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4. Statement for Month/Year
October 1998
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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 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
-----
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>
<S> <C> <C> <C> <C> <C> <C>
=================================================================================================================================
1. Title of 2. Transaction 3. Transaction 4. Securities Acquired 5. Amount of 6. Ownership 7. Nature of
Security Date Code (A) or Disposed of (D) Securities Form: Direct Indirect
(Instr. 3) (Month/Day/Year) (Instr. 8) (Instr. 3, 4 and 5) Beneficially (D) or Beneficial
Owned at End of Indirect (I) Ownership
----------- ------------------------ Month (Instr. 4) (Instr. 4)
(A) or (Instr. 3 and 4)
Code V Amount (D) Price
--------- --------------- ---- ----- -------- ------ ----- ---------------- ----------- -----------
Common Stock 8/19/98 P4* 2,500 (A) $7.50
8/20/98 P4* 2,500 (A) $7.38
8/21/98 P4* 1,500 (A) $7.75
8/24/98 P4* 20,000 (A) $7.75
8/25/98 P4* 4,100 (A) $7.75
8/26/98 P4* 4,100 (A) $7.48
8/27/98 P4* 4,100 (A) $7.00
8/28/98 P4* 12,000 (A) $6.63
Common Stock 8/31/98 P4* 47,500 (A) $7.00 1,101,468(1) (1) (1)
Common Stock 5,000(1) (2) (2)
- ---------------------------------------------------------------------------------------------------------------------------------
</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).
Page 1 of 3
SEC 1474 (7-96)
<PAGE>
FORM 4 (continued)
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
=================================================================================================================================
1. Title of 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriva- 6. Date Exercis-
Derivative sion or action tion tive Securities Ac- able and Expi-
Security Exer- Date Code quired (A) or Dis- ration Date
(Instr. 3) cise (Month/ (Instr. 8) posed of (D) (Month/Day/
Price of Day/ (Instr. 3, 4 and 5) Year)
Deriva- Year) ------------------
tive Se- Date Expira-
curity ------------------- Exer- tion
Code V (A) (D) cisable Date
------------ -------- -------- ---- ----- -------- ----- -------- --------
Warrants for $3.60 10/14/98 J** 215,425 10/14/98 10/14/03
Common Stock
(right to buy)
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
1. Title of 7. Title and Amount of 8. Price of 9. Number of 10. Ownership Form 11. Nature of
Derivative Underlying Securities Derivative derivative of Derivative Indirect
Security (Instr. 3 and 4) Security Securities Security: Direct Beneficial
(Instr. 3) (Instr. 5) Beneficially (D) or Indirect Ownership
-------------------------- Owned at End (I) (Instr. 4)
Amount or of Month (Instr. 4)
Number of (Instr. 4)
Title Shares
------------ ----------- -------- --------- ------------ -------------- ----------
Warrants for Common Stock 215,425 *** 215,425 (3) (3)
Common Stock
(right to buy)
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Explanation of Responses:
* Reporting Person inadvertently failed to timely file Form 4
relating to these transactions, which were reported
separately on an amendment to Reporting Person's Schedule
13D.
** Exercise price of previously acquired security became fixed
on 10/14/98.
*** Warrants issued on 10/14/97 as part of series of
transactions; no specific price was set for the warrants.
(1), (2) and (3) See continuation sheet.
/s/ David M. Schulte 11/6/98
--------------------- --------------
** Signature of Date
Reporting Person
David M. Schulte
** 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.
Page 2 of 3
SEC 1474 (7-96)
<PAGE>
STATEMENT ATTACHED TO FORM 4
FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
BY DAVID M. SCHULTE
875 NORTH MICHIGAN AVENUE
SUITE 2100
CHICAGO, ILLINOIS 60611
ISSUER NAME: NutraMax Products, Inc. (NMPC)
STATEMENT FOR MONTH/YEAR: October 1998
Continuation of Explanation of Responses:
1. These shares are owned directly by Cape Ann Investors, L.L.C.
and indirectly by David M. Schulte by virtue of his direct and
indirect control over Cape Ann Investors, L.L.C. and Chilmark
Fund II, L.P. (managing member of, and holder of a majority of
the ownership interests in, Cape Ann), Chilmark II, L.L.C.
(sole general partner of Chilmark Fund II) and Chilmark
Partners, L.L.C. (sole member of Chilmark II, L.L.C.). Mr.
Schulte disclaims beneficial ownership of these securities
under Rule 16a-1(a)(2) except to the extent of his pecuniary
interest therein.
2. These shares are owned directly by Chilmark Fund II, L.P. and
indirectly by David M. Schulte by virtue of his direct and
indirect control over Chilmark II, L.L.C. (sole general
partner of Chilmark Fund II) and Chilmark Partners, L.L.C.
(sole member of Chilmark II, L.L.C.). Mr. Schulte disclaims
beneficial ownership of these securities under Rule 16a-
1(a)(2) except to the extent of his pecuniary interest
therein.
3. These Warrants for Common Stock (right to buy) are owned
directly by Cape Ann Investors, L.L.C. and indirectly by David
M. Schulte by virtue of his direct and indirect control over
Cape Ann Investors, L.L.C. and Chilmark Fund II, L.P.
(managing member of, and holder of a majority of the ownership
interests in, Cape Ann), Chilmark II, L.L.C. (sole general
partner of Chilmark Fund II) and Chilmark Partners, L.L.C.
(sole member of Chilmark II, L.L.C.). Mr. Schulte disclaims
beneficial ownership of these securities under Rule
16a-1(a)(2) except to the extent of his pecuniary interest
therein.
Date: November 6, 1998
/s/ David M. Schulte
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David M. Schulte
Page 3 of 3
