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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 this box if no longer subject to 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*
Berg Carl E.
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(Last) (First) (Middle)
301 Conestoga Way
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(Street)
Henderson NV 89015
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Valence Technology, Inc.; VLNC
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
02/00
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [_] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
________________________________________________________________________________
7. Individual or Joint/Group Filing (Check applicable line)
[_] 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 02/01/00 C 304,900 A $5.05 4,113,629 I Various
Entities
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279,636 D
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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)
<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)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Convertible $5.05 10/18/99 P 1** 02/01/00 None* Common 304,900 $1,500,000* 1** I By Berg
Note Per Stock and Berg
Share Enter-
prises,
LLC
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Convertible $5.05 02/01/00 C 1 02/01/00 N/A* Common 304,900 $1,539,750* 0 N/A
Note Per Stock
Share
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</TABLE>
Explanation of Responses:
/S/ CARL E. BERG March 8, 2000
- --------------------------------------------- -----------------------
**Carl E. Berg Date
* Explanation of Responses: Berg and Berg Enterprises, LLC, a California
limited liability company, controlled by Carl E. Berg, lent Valence
Technology, Inc. ("VT") $1,500,000, pursuant to a convertible note
providing that from and after February 1, 2000, principal and accrued
interest may be converted, at the option of the holder, into shares of VT
common stock at a conversion price of $5.05 per share. The holder exercised
the conversion privilege as of February 1, 2000. The note was redeemed by
VT in exchange for 304,900 shares of common stock of VT, representing
principal and accrued interest on the note of $1,539,750 through that date.
** The number of convertible securities is reported as "1" because the note is
a single instrument.
** 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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