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
Chapman, Lynn C.
Netrix Corporation
13595 Dulles Technology Drive
Herndon, Virginia 20171
USA
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
6/30/2000
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
Director
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>
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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>
Common Stock, par value $.0|06/06/|S | |40,000 |D |$11.83 | | | |
5 per share (1) |00 | | | | | | | | |
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Common Stock, par value $.0|06/07/|S | |30,000 |D |$10.64 | | | |
5 per share(1) |00 | | | | | | | | |
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Common Stock, par value $.0|06/08/|S | |20,000 |D |$10.97 | | | |
5 per share(1) |00 | | | | | | | | |
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Common Stock, par value $.0|06/09/|S | |28,700 |D |$10.62 |10,000 |D | |
5 per share(1) |00 | | | | | | | | |
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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|$2.33 | | | | | |veste|05/19|Common Stock|5,000 | |5,000 |D | |
Buy)(2) | | | | | | |d |/03 | | | | | | |
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Time Options (Right to|$2.33 | | | | | |veste|05/11|Common Stock|10,000 | |10,000 |D | |
Buy)(2) | | | | | | |d |/04 | | | | | | |
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Time Options (Right to|$2.33 | | | | | |veste|02/16|Common Stock|10,000 | |10,000 |D | |
Buy)(2) | | | | | | |d |/05 | | | | | | |
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Time Options (Right to|$2.33 | | | | | |veste|09/07|Common Stock|15,000 | |15,000 |D | |
Buy)(2) | | | | | | |d |/05 | | | | | | |
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Time Options (Right to|$2.33 | | | | | |(3) |03/11|Common Stock|29,000 | |29,000 |D | |
Buy)(2) | | | | | | | |/07 | | | | | | |
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Time Options (Right to|$3.13 | | | | | |(4) |05/07|Common Stock|100,000| |100,000 |D | |
Buy)(2) | | | | | | | |/08 | | | | | | |
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Time Options (Right to|$2.50 | | | | | |veste|09/29|Common Stock|50,000 | |50,000 |D | |
Buy)(2) | | | | | | |d |/09 | | | | | | |
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Time Options (Right to|$2.33 | | | | | |veste|03/20|Common Stock|72,000 | |72,000 |D | |
Buy)(2) | | | | | | |d |/06 | | | | | | |
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Time Options (Right to|$26.75 |02/16|A | |75,000 |A |(5) |02/16|Common Stock|75,000 | |75,000 |D | |
Buy) | |/00 | | | | | |/10 | | | | | | |
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Time Options (Right to|$2.33 |06/06|M | |20,000 |D | | |Common Stock|20,000 | |12,000 |D | |
Buy) | |/00 | | | | | | | | | | | | |
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Time Options (Right to|$3.13 |06/06|M | |20,000 |D | | |Common Stock|20,000 | |73,333 |D | |
Buy) | |/00 | | | | | | | | | | | | |
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Time Options (Right to|$2.50 |06/07|M | |30,000 |D | | |Common Stock|30,000 | |20,000 |D | |
Buy) | |/00 | | | | | | | | | | | | |
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Time Options (Right to|$2.50 |06/08|M | |20,000 |D | | |Common Stock|20,000 | |0 |D | |
Buy) | |/00 | | | | | | | | | | | | |
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Time Options (Right to|$2.33 |06/09|M | |15,367 |D | | |Common Stock|15,367 | |0 |D | |
Buy) | |/00 | | | | | | | | | | | | |
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Time Options (Right to|$3.13 |06/09|M | |13,333 |D | | |Common Stock|13,333 | |60,000 |D | |
Buy) | |/00 | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) These transactions represent exercise and immediate sale of stock options,
as reflected herein on Table II.
(2) These option grants inadvertantly omitted from previous Form 4
filing.
(3) These options to purchase shares of Common Stock originally vested ratably
on the monthly anniversary of the date of grant (March 11, 1997)
over a period of five years from the date of grant (1.67% of total grant per
month). In connection with Mr. Chapman's resignation, this vesting
schedule was subsequently accelerated. As of June 30, 2000, the option grant
is vested with respect to 22,254 options.
(4) Options to purchase shares of Common Stock vested with respect to 20% of
the options on May 7, 1999, the first anniversary of the date of
grant. The remaining options vest ratably on the monthly anniversary of the
date of grant over a period from June 1998 through the fourth anniversary
of the date of grant (2.22% of total grant per month). As of June 30, 2000, the
option grant is vested with respect to 48,860 options.
(5) Options to purchase shares of Common Stock vested and became exercisable as
to 8.37% of these options on the date of grant, and the
remainder will vest and become exercisable in each subsequent month, on the
anniversary of the date of grant, to the extent of 8.33% of these
options.
SIGNATURE OF REPORTING PERSON
/s/ Lynn C. Chapman
DATE
July 10 , 2000
