U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
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
[_] Check box if no longer subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Allard John R.
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(Last) (First) (Middle)
WPI Group, Inc. 1155 Elm Street
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(Street)
Manchester NH 03101
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
WPI Group, Inc. (WPIC:OTC)
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
August, 2000
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5. If Amendment, Date of Original (Month/Year)
N/A
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
Chairman, President and Chief Executive Officer
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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 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>
Common Stock 08/09/00 P 14,390 A $1.50(1) 64,790 I By Trust
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</TABLE>
* 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 beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
(Form 4-07/99)
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<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- icial
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)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Employee Stock
Option (right $6.75 07/31/98 (2) 07/30/98 Common Stock 20,000 D
to buy)
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Employee Stock
Option (right $3.562 03/23/99 (3) 03/22/09 Common Stock 25,000 D
to buy)
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Employee Stock
Option (right $1.437 01/26/00 (4) 01/27/10 Common Stock 200,000 245,000 D
to buy)
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Common Stock $1.75 08/09/00 P 12,264 08/09/00 08/09/05 Common Stock 12,264 $0.54(1) 12,264 I By
Purchase Warrant Trust
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Convertible $1.75 08/09/00 P $107,314 08/09/00 08/09/03 Common Stock 62,548 $107,314(1)$107,314 I By
Subordinated Note Trust
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</TABLE>
Explanation of Responses:
(1) The Common Stock, Common Stock Purchase Warrants and Convertible
Subordinated Note were acquired in a single transaction in which the total
consideration paid was $107,314. The $1.50 price of the Common Stock and $0.54
price of the Common Stock Purchase Warrants are allocations for tax purposes.
(2) Option to purchase 20,000 shares of common stock issued under the WPI Group,
Inc. 1997 Equity Incentive Plan in a transaction exempt under Rule 16b-3. The
option becomes exercisable in 1/3 increments on 07/31/99, 07/31/00 and 07/31/01.
(3) Option to purchase 25,000 shares of common stock issued under the WPI Group,
Inc. 1997 Equity Incentive Plan in a transaction exempt under Rule 16b-3. The
option becomes exercisable in 1/3 increments on 03/23/00, 03/23/01 and 03/23/02.
(4) Option to purchase 200,000 shares of common stock issued under the WPI
Group, Inc. 1997 Equity Incentive Plan in a transaction exempt under Rule 16b-3.
The option becomes exercisable in three installments, the first of which shall
vest upon the closing of the sale of the Company's Husky Technology business,
the second of which shall vest upon the closing of the sale of the Company's
Instruments business and third of which shall vest upon the refinancing of the
Company's current credit facility or the sale of the Company, whichever shall
occur first. Notwithstanding the foregoing, the options shall vest one year from
the date of grant, regardless of whether these events have occurred.
/s/ John R. Allard 9/5/00
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**Signature of Reporting Person Date
** 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.
Potential persons who are to respond to the collection of information contained
in this form are not Page 2 required to respond unless the form displays a
currently valid OMB Number
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