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<PAGE>
FORM 4
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
<square>Check this box if no longer
subject to Section 16. Form 4 Filed pursuant to Section 16(a) of the
or Form 5 obligations Securities 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
may continue. SEE Instruction 1(b).
<TABLE>
<CAPTION>
1. Name and Address of Reporting Person 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person
to Issuer
Jeffries, Michael J. OSTEOTECH, INC. (Check all applicable)
X Director______ 10% Owner
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
(Last) (First) (Middle) 3. IRS or Social 4. Statement for ___X____ Officer ______ Other
Security Number Month/Year (give title below)
C/O OSTEOTECH, INC. of Reporting (specify below)
51 JAMES WAY Person June 1996
(Voluntary) Executive Vice President
Chief Operating Officer
###-##-#### Chief Financial Officer
(Street) 5. If Amendment, Date of
Original (Month/Year)
EATONTOWN, NEW JERSEY 07724
(City) (State) (Zip)
TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action (A) or Disposed of Securities ship of In-
Date Code (D) Beneficially Form: direct
(Month/ (Instr. (Instr. 3, 4 and 5) Owned at (D) or Bene-
Day/ 8) End of Indirect ficial
Year) Month (I) Owner-
(Instr. 3 (Instr. ship
and 4) 4) (Instr.
4)
Code V Amount (A) or Price
(D)
COMMON STOCK 6/17/96 T v 4,412 A $.663
COMMON STOCK 6/17/96 T v 2,290 A $.663
COMMON STOCK 6/17/96 T v 1,916 A $.663
COMMON STOCK 6/17/96 M v 7,352 A $5.10
COMMON STOCK 6/17/96 M v 5,200 A $5.25
COMMON STOCK+ 6/28/96 P v 148 A $6.1625 31,828 D ---
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
<PAGE>
FORM 4 (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 of6.Date 7.Title and Amount 8.Price 9.Number 10. Owner- 11. Na-
Security sion action tion Deriv- Exercisableof Under-lying of of ship ture
(Instr. 3) or Date Code ative and Securities (Instr. Deriv- Deriv- Form of In-
Exercise (Month/Day/(Instr.SecuritiesExpiration3 and 4) ative ative of De- direct
Price Year)8) Ac- Date Secur- Secur- rivative Bene-
of quired (A) (Month/Day/ ity ities Secur- ficial
Deriv- or Dis- Year) (Instr. Bene- ity: Own-
ative posed of 5) ficially (D) or ership
Security (D) Owned Indi- Instr. 4)
(Instr. 3, at End rect (I)
4, and 5) of (Instr. 4)
Month
(Instr.
4)
<S> <C> <C> <C><C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CodeV (A) (D) Date Expira- Title Amount
Exer- tion or
cisable Date Number
of
Shares
Employee Stock Option $.663 6/17/96 T v 4,412 12/31/91 12/31/96 Common 4,412 $.663 0 -- --
(Right to Buy) Stock
Employee Stock Option $.663 6/17/96 T v 2,290 3/22/92 3/22/97 Common 2,290 $.663 0 -- --
(Right to Buy) Stock
Employee Stock Option $.663 6/17/96 T v 1,916 12/20/91 12/20/96 Common 1,916 $.663 0 -- --
(Right to Buy) Stock
Employee Stock Option $5.10 6/17/96 M v 7,352 3/21/92 3/21/97 Common 7,352 $5.10 0 -- --
(Right to Buy) Stock
Employee Stock Option $5.10 6/17/96 M v 5,200 3/27/91 3/27/96 Common 5,200 $5.10 0 -- --
(Right to Buy) Stock
</TABLE>
Explanation of Responses:
+ Purchased under the Company's Stock Purchase Plan, a Rule 16b-3 plan.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations .
/s/ MICHAEL J. JEFFRIES 7/8/96
SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
**Signature of Reporting Person
Date
Michael J. Jeffries
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, SEE Instruction 6 for procedure.
SEC 1474 (8-92)
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