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FORM 5
|_| Check this box if no longer
subject to Section 16.
Form 4 or Form 5
obligations may continue.
See Instruction 1(b).
|_| Form 3 Holdings Reported.
|_| Form 4 Transactions Reported.
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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
<S> <C> <C>
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1. Name and Address of Reporting Person 2.Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person to Issuer
(Check all applicable)
Manzke Sandra L. Tremont Advisers, Inc. TMAV __X__Director _X__10% Owner
(Last) (First) (Middle) 3.IRS or Social Security 4.Statement for __X__Officer ____Other
Number of Reporting Month/Year (give title below) (specify below)
c/o Tremont Advisers, Inc. Person (Voluntary) Chief Executive Officer
555 Fremd Avenue, Suite C206 12/99
(Street) 5.If Amendment, 7. Individual or Joint/Group Filing
Date of Original (check applicable line)
Rye, New York 10580 (Month/Year)
__X__ Form filed by One Reporting Person
(City) (State) (Zip)
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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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature of
(Instr. 3) action action or Disposed of (D) Securities ship Indirect
Date Code (Instr. 3, 4 and 5) Beneficially Form: Beneficial
(Month/ (Instr. 8) Owned at End Direct Ownership
Day/ of Issuer's (D) or (Instr. 4)
Year) Fiscal Year Indirect
(Instr. 3 and 4) (I)
(Instr. 4)
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Amount (A) or Price
(D)
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Class B Common Stock - - - - - - - - - - - - 435,970 D ---
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If the form is filed by more than one Reporting Person, see Instruction 4(6)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned direcly or indirectly.
(Print or Type Responses)
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<S> <C> <C> <C> <C> <C> <C> <C>
FORM 5 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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1.Title of 2.Conver 3.Transac- 4.Transac- 5.Number of 6.Date Exer- 7.Title 8.Price of 9.Number of 10.Owner- 11. Nature of
Derivative sion or tion Date tion Code Derivative cisable and Amount Derivative Deriva- ship form Indirect
Security Exercise (Month/ (Instr. 8) Securities Expiration of Under- Security tive of Deriva- Beneficial
(Instr.3) Price of Day/Year) Acquired (A) Date (Month lying Sec (Instr.5) Securities tive Sec- Ownership
Deriv- or Disposal /Day/Year) urities Beneficially urity; (Instr.4)
ative (D)(Instr. 3, (Instr.3 Owned at End Direct(D)
Security 4, and 5) and 4) of Month or In-
(Instr.4) direct(I)
(Instr.4)
Date Expira- Amount or
(A) (D) Exer- tion Title Number of
cisable Date Shares
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Options $11.00 12/9/99 A 12/09/99 12/09/04 Class B 2,750 --- 2,750 D ---
Common Stock
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Options $11.00 12/9/99 A 12/09/00 12/09/04 Class B 2,750 --- 2,750 D ---
Common Stock
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Options $11.00 12/9/99 A 12/09/01 12/09/04 Class B 5,500 --- 5,500 D ---
Common Stock
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Options $3.00 --- --- --- 6/12/99 6/12/02 Class B 43,750 --- 43,750 D ---
Common Stock
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Class A 1.1 --- --- --- 8/15/98 N/A Class B 229,500 --- 229,500 D ---
Common Stock Common Stock
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Explanation of Responses:
/s/ Sandra L. Manzke 2/08/00
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**Signature of Reporting Person Date
Sandra L. Manzke
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**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.
