<PAGE>
<TABLE>
<S> <C> <C>
OMB APPROVAL
+--------+ -----------------------------
| FORM 5 | U.S. SECURITIES AND EXCHANGE COMMISSION |OMB Number 3235-036 |
+--------+ WASHINGTON, D.C. 20549 |Expires September 30, 1997|
[_] Check box if |Estimated average burden |
no longer subject ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |hours per response.......1 |
to Section 16. -----------------------------
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
</TABLE>
[_] Form 3 Holdings Reported
[_] Form 4 Transactions Reported
- --------------------------------------------------------------------------------
1. Name and Address of Reporting Person
Um, Gregory
----------------------------------------------------------------------------
(Last) (First) (Middle)
2335 Alaska Avenue
----------------------------------------------------------------------------
(Street)
El Segundo, CA 90245
----------------------------------------------------------------------------
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol Aura Systems, Inc. ("Aura")
-----------------------------------
3. IRS or Social Security Number of Reporting Person (Voluntary) 000-00-0000
--------------
4. Statement for Month/Year FYE Feb. 1997
---------------------------------------------------
5. If Amendment, Date of Original (Month/Year)
--------------------------------
6. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director [X] Officer [ ] 10% Owner [ ] Other
(give title below) (specify below)
Senior Vice President
----------------------------------------------------------------------------
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 I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Month/ (Instr. 8) Owned at Direct Bene-
Day/ End of (D) or ficial
Year) Issuer's Indirect Owner-
(A) or Fiscal Year (I) ship
Amount (D) Price (Instr. 3 and 4) (Instr. 4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock I 401(k)
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 15,552 I ESOP
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 103,818 D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 2/28/1997 L 3,172 A $3.25 3,172 I 401(k)
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
122,542
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Print or Type Responses)
<PAGE>
FORM 5 (continued)
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year)
Security
---------------------------
(A) (D)
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Stock Option 5.25 9/09/1993 A 100,000
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)--CONTINUED
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative 6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
Security (Instr. 3) cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative of De- of In-
Date ative Secur- rivative direct
(Month/Day/ Secur- ities Secu- Bene-
Year) ity Bene- rity: ficial
(Instr. ficially Direct Owner-
-------------------------------------------- 5) Owned (D) or ship
Date Expira- Amount or at End Indi- (Instr.
Exer- tion Title Number of of Year rect (1) 4)
cisable Date Shares (Instr. 4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 9/09/2003 Common 100,000 5.25 D
Stock
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
100,000
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Explanation of Responses:
1) Options vest 20% on each of the first five anniversaries of the date of
grant.
**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.
/s/ Gregory Um 4-15-97
------------------------------- -----------------
**Signature of Reporting Person Date
Gregory Um
