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OMB APPROVAL
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OMB Number 3235-0287
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
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 box if no longer subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
________________________________________________________________________________
1. Name and Address of Reporting Person*
Vassell, William C.
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(Last) (First) (Middle)
c/o Command Security Corporation
Lexington Park, Route 55
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(Street)
Lagrangeville, NY 12540
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Command Security Corporation CMMD
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
________________________________________________________________________________
4. Statement for Month/Year
12/00
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [X] 10% Owner
[X] Officer (give title(1) below) [_] Other (specify below)
Chairman of the Board, CEO and President
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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
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code -------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------- Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, par value $.0001 11/14/00 P 2,300 A 25/32 2,300 D
Common Stock, par value $.0001 12/26/00 P 15,000 A 9/16 15,000 D
Common Stock, par value $.0001 12/27/00 P 5,000 A 9/16 5,000 D
Common Stock, par value $.0001 12/28/00 P 4,000 A 9/16 4,000 D
Common Stock, par value $.0001 1,030,000 D
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
<PAGE>
FORM 4 (continued)
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Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, -------------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ -------- ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Warrant $1.25 11/13/00 A 11/13/01(2) 11/13/05 Common 204,485 0 D
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Warrant $1.25 11/13/00 A 3/31/02 11/13/05 Common 1,012,959(3) 0 D
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</TABLE>
Explanation of Responses:
1. Mr. Vassell has been Chairman of the Board since 1983. A new employment
agreement dated September 12, 2000 has expanded his responsibilities
within the corporation, he now also serves as CEO and President of the
Company.
2. The Warrant may not be exercised until, and only to the extent of,
exercise by Reliance Security Group plc of a Warrant issued to Reliance.
3. One-third of the shares covered by the Warrant shall become exercisable
if the Company's earnings before taxes exceed certain projections set
forth in a confidential letter agreement between the Company and Mr.
Vassell dated September 12, 2000. The Warrant becomes exercisable with
respect to two-thirds of the shares covered by the Warrants, if the
Company's earnings before taxes for the year ended March 31, 2003 exceed
the projected earnings before taxes for that year. All of the shares
covered by the Warrant become exercisable if the Company's earnings
before taxes for the year ended March 31, 2004 exceed the projected
amount of earnings before taxes for that year.
/s/ William C. Vassell January 10, 2001
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**Signature of Reporting Person Date
** 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.
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