<PAGE>
FORM 4 (CONTINUED)
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
or Form 5 obligations may continue.
SEE Instruction 1(B)
Filed pursuant to Section 16(a) of the Securities Act of 1934,
Section 17(a) of the Public Utility or Form 5 obligations Holding
Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
<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. (OSTE) (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 September 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 A 09/30/96 P v 186 A $4.8875 32,014 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.Price9.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
cisableDate Number
of
Shares
</TABLE>
Explanation of Responses:
a 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 10/7/96
**Signature of Reporting Person Date
Michael J. Jeffries
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.
SEC 1474 (8-92)