FORM 4
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C., 20549
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<CAPTION>
[ ] Check box if no longer subject
to Section 16. Form 4
or Form 5 obligations may con-
tinue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported
<S> <C> <C> <C>
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Sec. 16(a) of the Securities Exchange Act of 1934, Sec. 17(a) of
the Public Utility Holding Company Act of 1935 or Sec. 30(f) of the Investment Company
Act of 1940.
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1. Name and Address of Reporting person* 2. Issuer Name and Ticker or Trading Symbol
Brown Charles WAVERIDER COMMUNICATIONS INC. WAVC
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(Last) (First) (Middle) 3. IRS or Social Security Number of 4. Statement for Month/Year
Reporting Person (Voluntary) August 2000
156 Mildenhall Road
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(Street) 5. If Amendment, Date of Original
(Month/Year)
Toronto Ontario, Canada M4N 3H6
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(City) (State) (Zip)
*If the Form is filed by more than one
Reporting Person, see Instruction 4(b)(v).
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6.Relationship of Reporting Person to Issuer 7. Individual or Joint/Group Filing (Check applicable
(Check all applicable) line)
Director 10% Owner X Form filed by One Reporting Person
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Form filed by More than One Reporting Person
X Officer (give title below) Other ------
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Vice President, Marketing
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1. Title of Security 2. Transaction 3. Transaction 4. Securities Acquired (A) or 5. Amount of 6. Ownership 7. Nature of
(Instr. 3) Date Code (Instr. 8) Disposed of (D) ; (Instr. 3, Securities Form: Direct (D) Indirect
(Month/Day/Year) 4, and 5) Beneficially or Indirect (I) Beneficial
Owned at end (Instr. 4) Ownership
of Issuer's (Instr.4)
Fiscal
Month (Instr.
3 and 4)
----------------------- ---------------- --------------- ------------------------------ ------------ ---------------- -------------
Amount (A) or (D) Price
----------------------- ---------------- --------------- --------- ---------- --------- ------------ ---------------- -------------
WaveRider Common Stock 08/31/00 M 50,000 A $ 1.07 0
----------------------- ---------------- --------------- --------- ---------- --------- ------------ ---------------- -------------
08/30/00 M 50,000 D $5.7125
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly (Print or Type
Responses)
Page 1 of 2 pages (Over)
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FORM 4 (continued)
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<CAPTION>
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(eg., puts, calls, warrants, options, convertible securities)
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1. Title of 2.Conver- 3. Transac- 4. Transac- 5. Number of 6. Date Exercisable 7. Title and Amount
Derivative sion or tion Date tion Code Derivative and Expiration of Underlying
Securitiy Exer- (Month/Day/ (Instr. 8) Securities Date (Month/Day/ Securities
(Instr. 3) cise Price Year) Acquired (A) Year) (Instr. 3 and 4)
of Deriva- or Disposed
tive of (D)
Security (Instr. 3,
4, and 5)
------------ ---------- ------------ ----------- ------------ ---------- ---------- ---------- ---------
Date Expira- Title Amount or
Exer- tion Date Number of
cisable Shares
------------ ---------- ------------ ----------- --- -------- -------- ---------- ---------- ---------
(A) (D)
------------ ---------- ------------ ----------- --- -------- -------- ---------- ---------- ---------
Employee Stock
Option Anytime 02/16/10 Common 114,600
(1997) Plan -
Options
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Employee Stock
Option Anytime 08/28/10 Common 225,000
(1997) Plan -
Options
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1999 Incentive
And Nonqualified Anytime 04/08/09 Common 80,250
Stock Option Plan Note 1
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1999 Incentive
And Nonqualified Note 1 04/08/09 Common 454,750
StockOption Plan
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Employee Stock
Option (2000) 02/25/05 02/25/10 Common 200,000
Plan - Option Note 2
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Table II (continued)
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1. Title of 8. Price 9. Number 10. Owner- 11. Nature
Derivative of of Deriva- ship of De- of
Securitiy Derivative tive rivative Indirect
(Instr. 3) Security Securi- Security; Beneficial
and ties Direct (D) Ownership
(Instr.5) Benefi- or (Instr. 4)
cially Indirect
Owned at (I)
end of (Instr. 4)
Month
(Instr. 4)
------------ ---------- ----------- ----------- ------------
Employee
Stock Option $1.07 114,600 (D)
(1997) Plan
- Options
------------ ---------- ----------- ----------- ------------
Employee
Stock Option $1.68 225,000 (D)
(1997) Plan
- Options
------------ ---------- ----------- ----------- ------------
1999
Incentive
And $2.03 80,250 (D)
Nonqualified
Stock Option
Plan
------------ ---------- ----------- ----------- ------------
1999
Incentive
And $2.03 454,750 (D)
Nonqualified
Stock Option
Plan
------------ ---------- ----------- ----------- ------------
Employee
Stock
Option (2000) $9.03 200,000 (D)
Plan - Option
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Explanation of Responses:
Note 1: Vesting of Stock Options is based on the achievement of certain
milestones. The first two milestones, worth 15% of the total, has been
achieved and those shares have vested as shown. The balance of the
shares will vest based on the achievement of the following: 15% upon
receipt of at least 25 purchase orders for LMS systems, from qualified
purchasers, having a minimum total value of CDN$5 million; 15% upon at
least 25 LMS systems, representing a minimum total revenue of CDN$5
million, having been installed and operational; 25% upon gross revenue
exceeding CDN$10 million; and, 35% upon gross revenue exceeding CDN $25
million.
Note 2: Vesting of Stock Options can be accelerated based on the achievement
of certain milestones: 100,000 shares will vest immediately upon the
Company achieving the Board approved Conservative Plan revenues and net
loss for the year ended December 31, 2000; 50,000 shares immediately
upon the Commercial launch of the LMS 2000; and, 50,000 shares
immediately upon the Commercial launch of the LMS 3000.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a)
/s/Charles Brown September 5, 2000
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** 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.
Page 2 of 2 pages.
