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OMB APPROVAL
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OMB Number: 3235-0104
Expires: October 31, 2001
Estimated average burden
hours per response.....0.5
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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
(Print or Type Responses)
_______________________________________________________________________________
1. Name and Address of Reporting Person*
MAHAN MICHAEL W.
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(Last) (First) (Middle)
C/0 VALENCE TECHNOLOGY, INC.
301 CONESTOGA WAY
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(Street)
HENDERSON NEVADA 89015
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(City) (State) (Zip)
_______________________________________________________________________________
2. Date of Event Requiring Statement (Month/Day/Year)
12/27/00
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
_______________________________________________________________________________
4. Issuer Name and Ticker or Trading Symbol
VALENCE TECHNOLOGY, INC. (NASDAQ: VLNC)
_______________________________________________________________________________
5. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
SENIOR VICE PRESIDENT, MARKETING & LICENSING
_______________________________________________________________________________
6. If Amendment, Date of Original (Month/Day/Year)
_______________________________________________________________________________
7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form Filed by One Reporting Person
[ ] Form Filed by More than one Reporting Person
_______________________________________________________________________________
<TABLE>
<CAPTION>
TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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2. 3.
Amount of Ownership
Securities Form: 4.
1. Beneficially Direct (D) or Nature of Indirect
Title of Security Owned Indirect (I) Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
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</TABLE>
SEC 1472 (3-99)
<PAGE>
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TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS,
CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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<TABLE>
<CAPTION>
2. 3.
Date Title and Amount
Exercisable and of Securities Underlying 5.
Expiration Date Derivative Security 4. Ownership Form
1. (month/day/year) (Instr. 4) Conversion of Derivative
Title of ---------------- -------------------------- or Exercise Securities 6.
Derivative Date Expira- Amount or Price of Direct (D) or Nature of Indirect
Security Exer- tion Number of Derivative Indirect (I) Beneficial Ownership
(Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
OPTION 04/06/00 04/06/10 COMMON STOCK 150,000 $15.25 D
(1)
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OPTION 11/20/00 11/20/10 COMMON STOCK 50,000 $15.1875 D
(2)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Explanation of Responses:
(1) Twenty-five percent of the shares subject to this Option vest on April 26,
2001, and the remaining shares vest in equal quarerly installments over
the following three year period.
(2) The shares subject to this Option vest in equal quarterly installments
over a three year period commencing on the date of grant.
/S/ MICHAEL W. MAHAN 01/17/01
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**Signature of Reporting Person Date
* If the form is filed by more than one reporting person, SEE
Instruction 5(b)(v).
** 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 required to respond unless the form displays
a currently valid OMB number
Page 2
SEC 1473 (3-99)
