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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
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1. Name and Address of Reporting Person*
Russo Richard
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(Last) (First) (Middle)
c/o Osteotech, Inc.
51 James Way
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(Street)
Eatontown NJ 07724
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
April 1, 1998
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
OSTEOTECH, INC. (OSTE)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ ] 10% Owner
[ X ] Officer (give title below) [ ] Other (specify below)
Executive Vice President
Strategic Planning & Business Development
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6. If Amendment, Date of Original (Month/Day/Year)
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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 Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
Common Stock 213 D --
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(over)
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
Stock Options
(Right to Buy)(1) (2) 09/29/05 Common Stock 12,000 8.25 D --
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Stock Options
(Right to Buy)(1) (3) 12/07/05 Common Stock 6,000 6.625 D --
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Stock Options
(Right to Buy)(1) (4) 12/06/06 Common Stock 12,000 5.75 D --
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Stock Options
(Right to Buy)(1) (5) 07/30/07 Common Stock 48,029 12.75 D --
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Stock Options
(Right to Buy)(1) 2/14/98 02/01/03 Common Stock 3,000 4.25 D --
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Stock Options
(Right to Buy)(1) 12/30/98 12/30/03 Common Stock 1,250 4.375 D --
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</TABLE>
Explanation of Responses:
(1) Granted under the Company's 1991 Stock Option Plan and qualified under rule
16b-3.
(2) Exercisable as to 3,000 shares on September 29, 1996; as to an additional
3,000 shaes on September 29, 1997; as to an additional 3,000 shares on
September 29, 1998; and as to the remaining 3,000 shares on September 29,
1999.
(3) Exercisable as to 3,000 on December 7, 1998 and as to the remaining 3,000
shares on December 7, 1999.
(4) Exercisable as to 3,000 shares on December 6, 1997; as to an additional
3,000 shares on December 6, 1998; as to an additional 3,000 shares on
December 6, 1999; and as to the remaining 3,000 shares on December 6, 2000.
(5) Became exercisable as to 14,409 shares on September 5, 1997; as to an
additional 19,211 shares on September 15, 1997; and as to the remaining
14,409 shares on November 11, 1997.
/s/ Richard Russo April 6, 1998
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**Signature of Reporting Person Date
Richard Russo
** 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.
Alternatively, this form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to Rule 101(b)(4) of Regulation S-T.
Page 2
(122795DTI)
