OMB Number 3235-0287
Expires: September 30, 1998
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
/ / Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See
Instruction 1(b).
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
1. Name and Address of Reporting Person (If the form is filed
by more than one reporting person, see Instruction 4(b)(v).)
Bramson, Edward J.
(Last) (First) (Middle)
65 East 55th Street
(Street)
New York, NY 10022
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Ampex Corporation (AXC)
3. IRS or Social Security Number of Reporting Person
(Voluntary)
4. Statement for
(Month/Year)
5/97
5. If Amendment, Date of Original
(Month/Year)
<PAGE>
6. Relationship of Reporting Persons to Issuer
(Check all applicable)
___X____ Director ___X___ 10% Owner
___X____ Officer (give title below) _______ Other (specify below)
Chairman and CEO
7. Individual or Joint/Group filing (Check Applicable Line)
_______ Form filed by One Reporting Person
___X___ Form filed by More than One Reporting Person
<PAGE>
<TABLE>
<CAPTION>
TABLE I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
<S> <C> <C> <C> <C>
1. Title of 2. Trans- 3. Trans- 4. Securities Acquired (A)
Security action action or Disposed of (D)
(Instr.3) Date Code (Instr.3, 4 and 5)
(Month/ (Instr.8)
Day/
Year)
----------------------------------------------------------------------------
Code V Amount (A) or (D) Price
- -------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 1) 5/2/97 S 5,000 D $5.5625
- -------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 1) 5/6/97 S 5,000 D $6.375
- -------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 1) 5/7/97 S 5,000 D $5.9375
- -------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 1) 5/9/97 S 5,000 D $5.9375
- -------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 1) 5/12/97 S 5,000 D $5.75
- -------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 1) 5/13/97 S 5,000 D $5.8125
- -------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 1) 5/14/97 S 5,000 D $5.8125
- -------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 1) 5/15/97 S 5,000 D $5.6875
- -------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 1) 5/16/97 S 5,000 D $5.6875
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 1) 5/20/97 S 5,000 D $5.8125
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 3) 5/12/97 S 6,000 D $5.875
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 3) 5/19/97 S 10,000 D $5.875
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 3) 5/20/97 S 4,000 D $5.75
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 3) 5/20/97 S 2,000 D $5.875
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 3) 5/20/97 S 5,000 D $5.812
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 3) 5/21/97 S 2,000 D $6.375
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 3) 5/21/97 S 11,000 D $6.50
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 3) 5/30/97 S 10,000 D $6.50
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 4) 5/21/97 S 10,000 D $6.4375
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 4) 5/22/97 S 2,500 D $6.25
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 4) 5/22/97 S 7,500 D $6.375
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 4) 5/23/97 S 15,000 D $6.25
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 4) 5/27/97 S 3,000 D $6.25
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 4) 5/27/97 S 5,000 D $6.1875
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 4) 5/27/97 S 7,000 D $6.125
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 4) 5/28/97 S 10,000 D $6.6875
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 4) 5/28/97 S 15,000 D $6.50
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 4) 5/29/97 S 5,000 D $6.6875
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 4) 5/29/97 S 15,000 D $6.625
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 4) 5/29/97 S 5,000 D $6.75
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 4) 5/30/97 S 2,500 D $6.4375
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 4) 5/30/97 S 12,500 D $6.375
- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
Class A Common Stock (Note 6) 5/8/97 S 10,000 D $5.6875
- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
S D
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
1. Title of 5. Amount of 6. Ownership 7. Nature of
Security Securities Form: Indirect
(Instr.3) Beneficially Direct (D) Beneficial
Owned or Ownership
at End of Indirect
Month (I) (Instr. 4)
(Inst. 3 (Instr. 4)
and 4)
- -------------------------------
Class A Common Stock (Note 1)
- -------------------------------
Class A Common Stock (Note 1)
- -------------------------------
Class A Common Stock (Note 1)
- -------------------------------
Class A Common Stock (Note 1)
- -------------------------------
Class A Common Stock (Note 1)
- -------------------------------
Class A Common Stock (Note 1)
- -------------------------------
Class A Common Stock (Note 1)
- -------------------------------
Class A Common Stock (Note 1)
- -------------------------------
Class A Common Stock (Note 1) 2,359,910 D
- --------------------------------------------------------------
Class A Common Stock (Note 1) 2,920,545 I (Note 2)
- --------------------------------------------------------------
Class A Common Stock (Note 3)
- --------------------------------------------------------------
Class A Common Stock (Note 3)
- --------------------------------------------------------------
Class A Common Stock (Note 3)
- --------------------------------------------------------------
Class A Common Stock (Note 3)
- --------------------------------------------------------------
Class A Common Stock (Note 3)
- --------------------------------------------------------------
Class A Common Stock (Note 3)
- --------------------------------------------------------------
Class A Common Stock (Note 3) 1,450,000 D
- --------------------------------------------------------------
Class A Common Stock (Note 3) 0 I
- --------------------------------------------------------------
Class A Common Stock (Note 4)
- --------------------------------------------------------------
Class A Common Stock (Note 4)
- --------------------------------------------------------------
Class A Common Stock (Note 4)
- --------------------------------------------------------------
Class A Common Stock (Note 4)
- --------------------------------------------------------------
Class A Common Stock (Note 4)
- ---------------------------------------------------------
Class A Common Stock (Note 4)
- -----------------------------------
Class A Common Stock (Note 4)
- -----------------------------------
Class A Common Stock (Note 4)
- -----------------------------------
Class A Common Stock (Note 4)
- -----------------------------------
Class A Common Stock (Note 4)
- -----------------------------------
Class A Common Stock (Note 4)
- -----------------------------------
Class A Common Stock (Note 4)
- -----------------------------------
Class A Common Stock (Note 4) 376,979 D
- -----------------------------------
Class A Common Stock (Note 4) 693,566 I (Note 5)
- -----------------------------------
- -----------------------------------
Class A Common Stock (Note 6) 574,192 D
- -----------------------------------
119,374 I (Note 7)
- -----------------------------------
- -----------------------------------
- -----------------------------------
Explanation of Responses: THE FILING OF THIS REPORT SHALL NOT BE DEEMED AN
ADMISSION THAT THE REPORTING PERSONS ARE, FOR PURPOSES OF SECTION 16 OR
OTHERWISE, THE BENEFICIAL OWNERS OF ALL OF THE SECURITIES DESCRIBED IN NOTES 2,
5 AND 7 TO TABLE I OF THIS REPORT.
Note 1: These shares were sold by Edward J. Bramson.
- ------
Note 2: This number includes 1,450,000 shares owned by Sherborne Investments
- ------
Corporation ("SIC"), of which Mr. Bramson is the controlling stockholder;
400,000 shares owned by SH Securities Co., LLC, a limited liability company
controlled by Mr. Bramson ("SHSC"); 376,979 shares owned by Sherborne & Company
Incorporated ("SCI"), of which Mr. Bramson is a controlling stockholder; 574,192
shares owned by Sherborne Holdings Incorporated ("SHI"), a subsidiary of Newhill
(defined below); and 119,374 shares owned by NH Bond Corp. ("NHBC"), a
subsidiary of SHI. Mr. Bramson may be deemed to be the beneficial owner of the
shares owned by SIC, SHSC, SCI, SHI and NHBC.
Note 3: These shares were sold by SIC.
- ------
Note 4: These shares were sold by SCI.
- ------
Note 5: These shares include 574,192 shares owned by SHI and 119,374 shares
- ------
owned by NHBC. SCI is the general partner of Newhill Partners, L.P. ("Newhill"),
which is the sole stockholder of SHI. Accordingly, SCI and Newhill may be deemed
to be beneficial owners of the shares owned by SHI and NHBC.
Note 6: These shares were sold by SHI. This sale may be attributable to
- ------
Newhill, the sole shareholder of SHI.
Note 7: These shares are owned by NHBC. SHI may be deemed to be the beneficial
- ------
owner of the shares owned by its subsidiary, NHBC.
** Intentional misstatements or omissions of facts constitute
Federal Criminal Violations. See 18 U.S.C. 1001 and
15 U.S.C. 78ff(a).
/s/ Edward J. Bramson 6/5/97
---------------------------------- ---------
**Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be manually signed.
If space 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>
JOINT FILER INFORMATION
Name: Sherborne Investments Corporation
Address: 65 East 55th Street
New York, New York 10022
Designated Filer: Edward J. Bramson
Issuer & Ticker Symbol: Ampex Corporation (AXC)
Period Covered
by Statement: May 1997
Signature: SHERBORNE INVESTMENTS CORPORATION
By: /s/Edward J. Bramson
Name: Edward J. Bramson
Title: President
Page 7 of 10 pages
604902.1
<PAGE>
JOINT FILER INFORMATION
Name: Sherborne & Company Incorporated
Address: 65 East 55th Street
New York, New York 10022
Designated Filer: Edward J. Bramson
Issuer & Ticker Symbol: Ampex Corporation (AXC)
Period Covered
by Statement: May 1997
Signature: SHERBORNE & COMPANY INCORPORATED
By: /s/Edward J. Bramson
Name: Edward J. Bramson
Title: President
Page 8 of 10 pages
604902.1
<PAGE>
JOINT FILER INFORMATION
Name: Sherborne Holdings Incorporated
Address: 65 East 55th Street
New York, New York 10022
Designated Filer: Edward J. Bramson
Issuer & Ticker Symbol: Ampex Corporation (AXC)
Period Covered
by Statement: May 1997
Signature: SHERBORNE HOLDINGS INCORPORATED
By: /s/Edward J. Bramson
Name: Edward J. Bramson
Title: President
Page 9 of 10 pages
604902.1
<PAGE>
JOINT FILER INFORMATION
Name: Newhill Partners, L.P.
Address: 65 East 55th Street
New York, New York 10022
Designated Filer: Edward J. Bramson
Issuer & Ticker Symbol: Ampex Corporation (AXC)
Period Covered
by Statement: May 1997
Signature: NEWHILL PARTNERS, L.P.,
by Sherborne & Company Incorporated,
its general partner
By: /s/Edward J. Bramson
Name: Edward J. Bramson
Title: President
Page 10 of 10 pages
604902.1
