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OMB APPROVAL
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OMB Number 3235-0287
Expires: 12-31-2001
Estimated average burden
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
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
[_] Check box if no longer subject to Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
________________________________________________________________________________
1. Name and Address of Reporting Person*
Clayton Stephen T.
________________________________________________________________________________
(Last) (First) (Middle)
c/o Tremont Advisers, Inc.
555 Fremd Avenue
Suite C 206
________________________________________________________________________________
(Street)
Rye NY 10580
________________________________________________________________________________
(City) (State) (Zip)
________________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
Tremont Advisers, Inc. TMAVB
________________________________________________________________________________
3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
________________________________________________________________________________
4. Statement for Month/Year
3/00
________________________________________________________________________________
5. If Amendment, Date of Original (Month/Year)
________________________________________________________________________________
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
Chief Financial Officer
________________________________________________________________________________
7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by 1 Reporting Person
[_] Form filed by more than 1 Reporting Person
________________________________________________________________________________
<PAGE>
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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>
Class B Common Stock 3/9/00 S 100 D $9.875 25,897 D --
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Class B Common Stock 3/17/00 S 500 D $9.500 25,397 D --
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Class B Common Stock 3/21/00 S 400 D $9.750 24,997 D --
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Class B Common Stock -- -- -- -- -- -- 4,500 I spouse
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Class B Common Stock -- -- -- -- -- -- 125 I minor child
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Class B Common Stock -- -- -- -- -- -- 125 I minor child
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
SEC 1474(3-99)
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
================================================================================
<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)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class B
Common
Options $10.00 -- -- -- -- -- 12/9/99 12/9/04 Stock 1,750 -- 1,750 D --
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Class B
Common
Options $10.00 -- -- -- -- -- 12/9/00 12/9/04 Stock 1,750 -- 1,750 D --
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Class B
Common
Options $10.00 -- -- -- -- -- 12/9/01 12/9/04 Stock 3,500 -- 3,500 D --
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Class B
Common
Options $ 3.00 -- -- -- -- -- 5/15/99 5/15/02 Stock 12,500 -- 12,500 D --
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Class B
Common
Options $ 6.40 -- -- -- -- -- 12/9/97 12/9/03 Stock 781 -- 781 D --
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Class B
Common
Options $ 6.40 -- -- -- -- -- 12/9/98 12/9/03 Stock 781 -- 781 D --
- ------------------------------------------------------------------------------------------------------------------------------------
Class B
Common
Options $ 6.40 -- -- -- -- -- 12/9/99 12/9/03 Stock 1,563 -- 1,563 D --
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Class B
Class A Common Common
Stock 1.1 -- -- -- -- -- 8/15/98 N/A Stock 948 -- 948 D --
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====================================================================================================================================
</TABLE>
Explanation of Responses:
/s/ Stephen T. Clayton April 7, 2000
- --------------------------------------------- -----------------------
**Signature of Reporting Person Date
Stephen T. Clayton
* 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 owned directly
or indirectly.
** 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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