SPACELABS MEDICAL INC
5, 1999-01-27
ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS
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<PAGE>   1
- ------                                                                         
FORM 5                                                                         
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/X/ Check box if no               U.S. SECURITIES AND EXCHANGE COMMISSION      
    longer subject to                       WASHINGTON, DC 20549               
    Section 16. Form                                                           
    4 or Form 5             ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
    obligations may                                                            
    continue. See            Filed pursuant to Section 16(a) of the Securities 
    Instruction 1(b)                         Exchange Act of 1934,            
/ / Form 3 Holdings                  Section 17(a) of the Public Utility      
    Reported                 Holding Company Act of 1935 or Section 30(f) of 
/ / Form 4                              the Investment Company Act            
    Transactions                                   of 1940                    
    Reported                                                                   

<TABLE> 
<S>                             <C>            <C>                        <C>                <C>          <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
    Messina George P.                             Spacelabs Medical, Inc. SLMD                  Issuer (Check all applicable)
- -------------------------------------------    ----------------------------------------------       Director         10% Owner
  (Last)          (First)          (Middle)    3. IRS or Social Security  4. Statement for      ----              ---
  1664 West Weecroft Court                        Number of Reporting        Month/Year             Officer (give  X Other (specify
- -- ----------------------------------------       Person (Voluntary)            01/99           ----        title ---       below)
                 (Street)                                                 -------------------               below)
  Jamesville         WI              53545                                5. If Amendment,             Former Officer
- -------------------------------------------                                  Date of Original       -------------------------------
  (City)           (State)           (Zip)                                   (Month/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
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                         TABLE 1 -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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 1. Title of Security           2. Trans-   3. Transac-  4. Securities Acquired (A)  5.  Amount of Se-    6. Owner-      7. Nature  
    (Instr. 3)                     action      tion         or Disposed of (D)           curities Benefi-    ship           of In-  
                                   Date        Code         (Instr. 3, 4 and 5)          cially Owned at     Form:          direct  
                                               (Instr. 8)                                End of Issuer's     Direct         Benefi-
                                  (Month/                                                Fiscal Year         (D) or         cial
                                   Day/                 ----------------------------     (Instr. 3 and 4)    Indirect       Owner- 
                                   Year)                Amount    (A) or      Price                          (I)            ship   
                                                                  (D)                                        (Instr. 4)     (Instr.
                                                                                                                            4)     
Spacelabs Medical, Inc.            1/22/98       P      150.9434  (A)         $19.875                           D
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    Common Stock
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Spacelabs Medical, Inc.            2/20/98       P       96.0961  (A)         $20.812                           D
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    Common Stock
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Spacelabs Medical, Inc.            3/11/98       P       84.6561  (A)         $23.625                           D
- ------------------------------------------------------------------------------------------------------------------------------------
    Common Stock
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Spacelabs Medical, Inc.            4/8/98        P      105.2632  (A)         $19.00         436.9588           D
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    Common Stock
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*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.                   (Over)

                                                                               (Print or Type Responses)                      (8/96)
</TABLE>
<PAGE>   2
<TABLE>
<CAPTION>
 
FORM 5 (CONTINUED)        TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
                                  (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)

<S>                       <C>          <C>        <C>         <C>              <C>             <C>                   <C>          
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative    2. Conver-   3. Trans-  4. Trans-   5. Number of     6. Date Exer-   7. Title and Amount   8. Price     
   Security                  sion or      action     action      Derivative       cisable and     of Underlying         of        
   (Instr. 3)                Exercise     Date       Code        Securities Ac-   Expiration      Securities            Deriv-    
                             Price of     (Month/    (Instr. 8)  quired (A) or    Date            (Instr. 3 and 4)      ative     
                             Deriv-       Day/                   Disposed of (D)  (Month/Day/                           Secur-    
                             ative        Year)                  (Instr. 3, 4,    Year)                                 ity       
                             Security                            and 5)                                                 (Instr. 5)
                                                                               -----------------------------------             
                                                                               Date    Expira-            Amount or            
                                                               --------------- Exer-   tion       Title   Number of            
                                                                (A)     (D)    cisable Date               Shares               
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Employee Stock              $21.47          11/20/98  (D)         20,000(D)         (1)        Common Stock 20,000            
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option (right
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to acquire)
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<C>                          <C>                    <C>                         <C>                              
1. Title of Derivative       9. Number of           10. Ownership               11. Nature of                              
   Security                     Derivative              of Derivative               Indirect                     
   (Instr. 3)                   Securities              Security:                   Beneficial                   
                                Beneficially            Direct (D)                  Ownership                    
                                Owned at End            or Indirect (I)             (Instr. 4)                   
                                of Year                 (Instr. 4)                                               
                                (Instr. 4)                                                                       
                                                                                 
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                                   0       
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Explanation of Responses:
(1) Mr. Messina's stock options, previously reported on Form 4 dated March 6, 1998, were cancelled on
    his last day of employment with the Company (which was November 20, 1998).  
**  Intentional misstatements or omissions of facts constitute Federal Criminal Violations.   
    See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).                                                 
                                                                                             /s/ George P. Messina by
                                                                                                 Eugene V. DeFelice, as
                                                                                                 attorney-in-fact            1/22/99
                                                                                             ------------------------------- -------
                                                                                             **Signature of Reporting Person   Date
                                         

Note. File three copies of this form, one of which must be manually signed.                                               Page 2   
      If space provided is insufficient, see Instruction 6 for procedure.                                                  (8/96)

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