UNITED STATES 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 Instructions 1(b).
1. Name and Address of Reporting Person
Kendrick, Peter J.
2656 Black Fir Court
Reston, Virginia 20191
2. Issuer Name and Ticker or Trading Symbol
Netrix Corporation
(NTRX)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
02/29/2000
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Vice President and Chief Financial Officer
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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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Time Options (Right to|$2.50 | | | | | |(1) |08/02|Common Stock|100,000| |100,000 |D | |
Buy) | | | | | | | |/09 | | | | | | |
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Time Options (Right to|$11.83 |02/17|A | |12,500 |A |(2) |02/17|Common Stock|12,500 | |12,500 |D | |
Buy) | |/00 | | | | | |/10 | | | | | | |
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Time Options (Right to|$14.83 |02/17|A | |12,500 |A |(2) |02/17|Common Stock|12,500 | |12,500 |D | |
Buy) | |/00 | | | | | |/10 | | | | | | |
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Explanation of Responses:
(1) 50,000 of the options became exercisable on December 31, 1999. The
remaining 50,000 options will become exercisable on August 3, 2000.
(2) Options to purchase shares of Common Stock vested and became exercisable as
to 12.5% of these options on the date of grant, and the
remainder will vest and become exercisable on each subsequent quarter-annual
anniversary of the date of grant to the extent of 12.5% of these
options.
SIGNATURE OF REPORTING PERSON
/s/ Peter J. Kendrick
DATE
March 10, 2000
