<PAGE>
<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
[X] ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the Fiscal Year Ended December 31, 1995
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ----to----
COMMISSION FILE NUMBER 1-11846
APTARGROUP, INC.
Profit Sharing and Savings Plan
--------------------------------
(Full title of the Plan)
APTARGROUP, INC.
---------------------------
(Name of issuer of certain securities held pursuant to the Plan)
475 WEST TERRA COTTA AVENUE, SUITE E
CRYSTAL LAKE, IL 60014
(ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICE AND PLAN)<PAGE>
<PAGE> 2
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
INDEX TO FINANCIAL STATEMENTS AND SCHEDULES
--------------------------------------------
Title PAGE
- ----- ----
Report of independent accountants 3
Financial statements:
Statement of Financial Position, With
Fund Information, at December 31, 1995 and 1994 4-7
Statement of Income and Changes in
Plan Equity, With Fund Information,
for the years ended December 31, 1995 and 1994 8-14
Notes to financial statements 15-22
Supplemental schedules:
Assets held for investment purposes (Schedule I) 23-24
Reportable transactions for year ended
December 31, 1995 (Schedule II) 25-27
Consent of Independent Accountants Exhibit A
Note: Supplementary schedules not included have been omitted because
they are not applicable.
<PAGE>
<PAGE> 3 REPORT OF INDEPENDENT ACCOUNTANTS
---------------------------------
To the Participants and the
Administrative Committee of the
AptarGroup, Inc.
Profit Sharing and Savings Plan
In our opinion, the accompanying statements of financial position, and the
related statements of income and changes in plan equity present fairly, in
all material respects, the financial position of the AptarGroup, Inc.
Profit Sharing and Savings Plan at December 31, 1995 and 1994, and the
results of its operations and changes in its plan equity for the years
ended December 31, 1995 and 1994, in conformity with generally accepted
accounting principles. These financial statements are the responsibility
of the Plan's management; our responsibility is to express an opinion on
these financial statements based on our audits. We conducted our audits of
these statements in accordance with generally accepted auditing standards
which require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements,
assessing the accounting principles used and significant estimates made by
management, and evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for the opinion
expressed above.
Our audits were performed for the purpose of forming an opinion on the
basic financial statements taken as a whole. The additional information
included in Schedules I and II is presented for purposes of additional
analysis and is not a required part of the basic financial statements but
is additional information required by the Department of Labor's Rules and
Regulations for Reporting and Disclosure under the Employee Retirement
Income Security Act of 1974. The Fund Information in the Statement of
Financial Position and the Statement of Income and Changes in Plan Equity
is presented for purposes of additional analysis rather than to present the
financial position and statement of income and changes in plan equity of
each fund. Schedules I and II and the Fund Information have been subjected
to the auditing procedures applied in the audit of the basic financial
statements and, in our opinion, are fairly stated in all material respects
in relation to the basic financial statements taken as a whole.
/s/ Price Waterhouse LLP
Chicago, Illinois
June 5, 1996<PAGE>
<PAGE> 4
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
STATEMENTS OF FINANCIAL POSITION,
WITH FUND INFORMATION,
AT DECEMBER 31, 1995 AND 1994
-----------------------------
Money Market Magellan
Fund Fund
------------------ -------------------
ASSETS: 1995 1994 1995 1994
---- ---- ---- ----
Investments, at
market value $5,002,524 $4,619,384 $11,817,471 $8,034,694
Contributions
receivable:
Participating
employees -- 33,040 -- 41,895
Employer -- 11,719 -- 14,447
Participant loans 781,868 480,933 -- --
--------- --------- ---------- ---------
$5,784,392 $5,145,076 $11,817,471 $8,091,036
========= ========= ========== =========
PLAN EQUITY:
Participant's
equity $5,784,392 $5,145,076 $11,817,471 $8,091,036
========= ========= ========== =========
The accompanying notes are an integral part of this statement.
<PAGE>
<PAGE> 5
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
STATEMENTS OF FINANCIAL POSITION,
WITH FUND INFORMATION,
AT DECEMBER 31, 1995 AND 1994
AptarGroup Pittway
Stock Fund Stock Fund
--------------------- --------------------
ASSETS: 1995 1994 1995 1994
---- ---- ---- ----
Investments, at
market value $2,670,922 $1,539,198 $ -- $ --
Contributions
receivable:
Participating
employees 7,282 -- --
Employer 2,416 -- --
Participant loans -- --
--------- --------- ------- ------
$2,670,922 $1,548,896 $ -- $ --
========= ========= ======= ======
PLAN EQUITY:
Participants'
equity $2,670,922 $1,548,896 $ -- $ --
========= ========= ======= ======
The accompanying notes are an integral part of this statement.
<PAGE>
<PAGE> 6
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
STATEMENTS OF FINANCIAL POSITION,
WITH FUND INFORMATION
AT DECEMBER 31, 1995 AND 1994
-----------------------------
Growth and Managed
Income Fund Income Fund
--------------------- ------------------
ASSETS: 1995 1994 1995 1994
---- ---- ---- ----
Investment, at
market value $3,211,670 $1,894,060 $806,088 $690,808
Contributions
receivable:
Participating
employees -- 13,076 -- 6,189
Employer -- 4,442 -- 2,242
Participant loans -- -- -- --
--------- --------- ------- -------
$3,211,670 $1,911,578 $806,088 $699,239
========= ========= ======= =======
PLAN EQUITY:
Participants'
equity $3,211,670 $1,911,578 $806,088 $699,239
========= ========= ======== =======
The accompanying notes are an integral part of this statement.<PAGE>
<PAGE> 7
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
STATEMENTS OF FINANCIAL POSITION
WITH FUND INFORMATION
AT DECEMBER 31, 1995 AND 1994
-----------------------------
TOTAL
-----------------------
1995 1994
------- -------
ASSETS:
Investments, at market
value $23,508,675 $16,778,144
Contributions receivable:
Participating employees -- 101,482
Employer -- 35,266
Participant loans 781,868 480,933
---------- ----------
$24,290,543 $17,395,825
========== ==========
PLAN EQUITY:
Participants' equity $24,290,543 $17,395,825
=========== ===========
<PAGE>
<PAGE> 8
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
STATEMENTS OF INCOME AND CHANGES IN PLAN EQUITY,
WITH FUND INFORMATION
FOR THE YEARS ENDED DECEMBER 31, 1995 AND 1994
----------------------------------------------
Money Market Magellan
Fund Fund
----------------- ----------------
1995 1994 1995 1994
---- ---- ---- ----
Contributions:
From
participating
employees $ 465,063 $ 511,994 $ 790,393 $ 889,678
From employer 210,995 219,651 297,877 306,703
Income from
investments:
Dividends and
interest 290,658 187,036 692,129 327,519
Realized
appreciation/
(depreciation) -- -- 162,688 (6,927)
Unrealized
appreciation/
(depreciation)
in market value
of investments -- -- 2,192,411 (446,044)
Benefits paid to
participants (310,374) (318,221) (108,469) (140,103)
Administrative
expenses (1,216) (2,041) (209) (443)
Transfers between
funds, net (15,810) (336,394) (300,385) (212,087)
-------- --------- --------- --------
<PAGE>
<PAGE> 9
PROFIT SHARING AND SAVINGS PLAN
STATEMENTS OF INCOME AND CHANGES IN PLAN EQUITY,
WITH FUND INFORMATION (CONT'D)
FOR THE YEARS ENDED DECEMBER 31, 1995 AND 1994
----------------------------------------------
Money Market Magellan
Fund Fund
----------------- ----------------
1995 1994 1995 1994
----- ----- ----- -----
Net increase/
(decrease) in
participants'
equity for the
period $ 639,316 $ 262,025 $ 3,726,435 $ 718,296
Participants'
equity,
beginning of
the period 5,145,076 4,883,051 8,091,036 7,372,740
--------- --------- --------- ---------
Participants'
equity, end
of the
period $5,784,392 $5,145,076 $11,817,471 $8,091,036
========= ========= ========== =========
The accompanying notes are an integral part of this statement.
<PAGE>
<PAGE> 10
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
STATEMENTS OF INCOME AND CHANGES IN PLAN EQUITY,
WITH FUND INFORMATION
FOR THE YEARS ENDED DECEMBER 31, 1995 AND 1994
AptarGroup Pittway
Stock Fund Stock Fund
-------------------- -------------------
1995 1994 1995 1994
------ ------ ------ ------
Contributions:
From
participating
employees $ 204,698 $ 46,158 $ -- $ --
From Employer 73,261 15,890 -- --
Income from
investments:
Dividends and
interest 22,490 6,432 -- 1,184
Realized
appreciation/
(depreciation) 64,971 22,017 -- 229
Unrealized
appreciation/
(depreciation)
in market value
of investments 512,802 280,851 -- (264)
Benefits paid to
participants (3,205) (18,047) -- --
Administrative
expenses -- -- -- --
Transfers between
funds, net 247,009 551,252 -- (112,363)
-------- -------- ------- --------
<PAGE>
<PAGE> 11
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
--------------------------------
STATEMENTS OF INCOME AND CHANGES IN PLAN EQUITY,
WITH FUND INFORMATION (CONT'D)
FOR THE YEARS ENDED DECEMBER 31, 1995 AND 1994
-----------------------------------------------
AptarGroup Pittway
Stock Fund Stock Fund
------------------- -----------------
1995 1994 1995 1994
------ ------ ------ ------
Net increase/
(decrease) in
participants'
equity for the
period $ 1,122,026 $ 904,553 -- $ (111,214)
Participants'
equity,
beginning of
the period 1,548,896 644,343 -- 111,214
--------- --------- ------ -------
Participants'
equity, end of
the period $ 2,670,922 $ 1,548,896 $ -- $ --
========= ========= ====== =======
The accompanying notes are an integral part of this statement.
<PAGE>
<PAGE> 12 APTARGROUP, INC
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
STATEMENTS OF INCOME AND CHANGES IN PLAN EQUITY,
WITH FUND INFORMATION
FOR THE YEARS ENDED DECEMBER 31, 1995 AND 1994
----------------------------------------------
Growth and Managed
Income Fund Income Fund
-------------------- --------------------
1995 1994 1995 1994
------ ------ ------ ------
Contributions:
From
participating
employees $ 274,629 $ 289,317 $ 104,232 $ 100,861
From employer 98,023 89,331 38,791 36,464
Income from
investments:
Dividends and
interest 163,141 136,053 46,133 27,785
Realized
appreciation/
(depreciation) 18,227 2,252 -- --
Unrealized
appreciation/
(depreciation)
in market value
of investments 608,446 (97,796) -- --
Benefits paid to
participants (10,209) (14,093) (3,492) (315)
Administrative
expenses (90) (243) (76) (73)
Transfers between
funds, net 147,925 (4,706) (78,739) 114,298
-------- ------ ------- -------<PAGE>
<PAGE> 13
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
--------------------------------
STATEMENTS OF INCOME AND CHANGES IN PLAN EQUITY,
WITH FUND INFORMATION (CONT'D),
FOR THE YEARS ENDED DECEMBER 31, 1995 AND 1994
-----------------------------------------------
Growth and Managed
Income Fund Income Fund
-------------------- ------------------
1995 1994 1995 1994
------ ------ ------ ------
Net increase/
(decrease) in
participants'
equity for the
period $ 1,300,092 $ 400,115 $ 106,849 $ 279,020
Participants'
equity,
beginning of
the period 1,911,578 1,511,463 699,239 420,219
----------- ---------- -------- --------
Participants'
equity, and
of the period $ 3,211,670 $ 1,911,578 $ 806,088 $ 699,239
========== ========== ======== ========
The accompanying notes are an integral part of this statement.<PAGE>
<PAGE> 14 APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
STATEMENTS OF INCOME AND CHANGES IN PLAN EQUITY,
WITH FUND INFORMATION
FOR THE YEARS ENDED DECEMBER 31, 1995 AND 1994
----------------------------------------------
Total
-----------------------
1995 1994
----- -----
Contributions:
From participating employees $ 1,839,015 $ 1,838,008
From employer 718,947 668,039
Income from investments:
Dividends and interest 1,214,551 686,009
Realized appreciation/
(depreciation) 245,886 17,571
Unrealized appreciation/
(depreciation) in market
value of investments 3,313,659 (263,253)
Benefits paid to participants (435,749) (490,779)
Administrative expenses (1,591) (2,800)
Transfers between funds, net -- --
---------- ----------
Net increase/(decrease) in
participants' equity for
the period 6,894,718 2,452,795
Participants' equity, beginning
of the period 17,395,825 14,943,030
---------- ----------
Participants' equity,
end of the period $ 24,290,543 $ 17,395,825
========== ==========
The accompanying notes are an integral part of this statement.<PAGE>
<PAGE> 15 APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1995 AND 1994
--------------------------------
NOTE 1 - DESCRIPTION OF THE PLAN
- ---------------------------------
The AptarGroup, Inc. Profit Sharing and Savings Plan (the "Plan"),
established on April 22, 1993, covers eligible full-time employees of
AptarGroup, Inc. and certain of its subsidiaries (the "Company" or the
"Employer"). The Plan is administered by a committee appointed by the
Company.
An employee becomes eligible to participate at the beginning of each
quarter after the completion of one year of service. Participation is
elective and is exercised by means of authorizing contributions of salary
to the Plan of not less than 1 percent and not more than 12 percent of
earnings (subject to Internal Revenue Code limitations). Participants'
earnings are generally defined as total compensation for services rendered
to the Employer. Participants may elect to suspend their contributions at
any time. Eligible employees will not share in any Employer contributions
for any period in which they voluntarily suspend their contributions or do
not participate in the Plan. Active participation can be elected again on
the next regular enrollment date.
The amount of Employer contributions is determined annually by the
Employer. Such contributions are computed as a matching percentage of each
participant's contribution within specified limits.
Investment funds available that participants may select include the Money
Market Fund, Magellan Fund, Managed Income Fund, Growth and Income Fund,
and the AptarGroup Stock Fund. A participant may elect to transfer certain
portions of his or her account in the Plan from one fund to another up to
twelve times per year subject to certain restrictions between the Money
Market Fund and Managed Income Fund. For those employees with investments
in the Pittway Stock Fund prior to the spin-off (see Note 3),investments in
the AptarGroup Stock Fund were made. On the date of the spin-off, the
AptarGroup, Stock Fund and the Pittway Stock Fund were "frozen" (i.e., no
new contributions or transfers from other funds, other than dividends which
were reinvested, were allowed into or from these funds after such date).<PAGE>
<PAGE> 16 APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
NOTES TO FINANCIAL STATEMENTS (CONT'D)
DECEMBER 31, 1995 AND 1994
---------------------------------------
Effective July 1, 1994, the AptarGroup Stock Fund was reactivated and
contributions and transfers were once again permitted into the fund.
Fidelity Institutional Retirement Services Company is the trustee for the
Money Market Fund, Magellan Fund, Growth and Income Fund and the Managed
Income Fund. CTC Illinois Trustee Company is the trustee for the
AptarGroup Stock Fund and Bank of America was the trustee for the Pittway
Stock Fund.
Each participant is fully vested in his or her contributions at all times.
Vesting of the Employer contribution occurs at the rate of 20 percent per
year on a cumulative basis for each year of service with a participating
Employer. Forfeitures of nonvested amounts occur when a participant
terminates employment for any reason other than retirement after age 65,
death, or disability. Upon withdrawal from the Plan, the participant will
receive the amount of his or her contributions plus the vested portion of
his or her Employer contributions. Forfeited amounts are used to reduce
contributions of the Employer.
Further information about the Plan and the vesting and benefit provisions
is contained in the booklet Summary Plan Description which is available
from the Plan Administrator.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
- ---------------------------------------------------
Basis of accounting
- -------------------
The financial statements of the Plan have been prepared on the accrual
basis of accounting.
Valuation of investments
- ------------------------
All investments are stated at current market prices in actively traded
markets.<PAGE>
<PAGE> 17 APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
NOTES TO FINANCIAL STATEMENTS (CONT'D)
DECEMBER 31, 1995 AND 1994
--------------------------------------
Contributions
- -------------
Employer and employee contributions are invested directly in appropriate
funds based upon employee elections made at the date of enrollment or
through authorized changes.
Security transactions and investment income
- -------------------------------------------
Purchases and sales of securities, including related gains and losses, are
recorded as of the trade date. Unsettled security investments represent
transactions entered into prior to the end of the accounting period for
which cash settlement is made in a subsequent period.
Interest income is recorded when earned. Dividend income is recorded on
the ex-dividend date.
The cost of securities sold is determined on an average cost basis. In
accordance with the policy of stating investments at current value, net
unrealized appreciation or depreciation is reflected in the Statement of
Income and Changes in Plan Equity.
Benefit payments
- ----------------
The plan follows the method of accounting for benefit payment obligations
to terminated employees based upon AICPA guidance for accounting and
disclosure by employee benefit plans. Based on this accounting method,
participant distributions payable at year-end are not presented as a
liability in the Statement of Financial Position or as benefit payments in
the Statement of Income and Changes in Plan Equity. This treatment results
in a difference between benefit payments in the Plan's Form 5500 and the
benefit payments in the financial statements. Benefit obligations payable
at December 31, 1995 and 1994 were $1,364,531 and $958,590, respectively.<PAGE>
<PAGE> 18 APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
--------------------------------
NOTES TO FINANCIAL STATEMENTS (CONT'D)
DECEMBER 31, 1995 AND 1994
--------------------------------------
Trustee and administrative expenses
- -----------------------------------
Expenses incurred in the administration of the Plan, except for loan
service fees which are paid by the participants, are paid by the Company.
NOTE 3 - TRANSFER FROM ANOTHER TRUST
- ------------------------------------
On April 22, 1993 Pittway Corporation completed a tax-free spinoff of its
investment in AptarGroup, Inc. (formerly the Seaquist packaging group) to
its stockholders. As a result of this spinoff, Plan assets of $12,089,426
were transferred into the AptarGroup, Inc. Profit Sharing and Savings Plan
representing AptarGroup, Inc. participant balances as of April 22, 1993 in
the Pittway Corporation Blue Chip Profit Sharing and Savings Plan.
NOTE 4 - PARTY-IN-INTEREST TRANSACTIONS
- ---------------------------------------
Party-in-interest transactions consisted of loans made to participants and
investments in the AptarGroup Stock Fund.
The Plan provides that a participant may, for specified reasons, borrow
from the Plan an amount not to exceed 50 percent of the participant's
vested account balance. Each participant loan is evidenced by a note and
is considered an investment to that participants's account. Accordingly,
principal and interest payments are credited to the respective
participant's account. Each participant note carries an interest rate
equal to the prime rate plus one percent (at December 31, 1995 interest
rates ranged from 7.0% to 11.0%) charged by the Trustee on the date of the
loan, and repayment occurs through payroll withholding over a period not to
exceed 60 months.
Stock in the AptarGroup Stock Fund was acquired by the Trustee in 1995 <PAGE>
<PAGE> 19 APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
NOTES TO FINANCIAL STATEMENTS (CONT'D)
DECEMBER 31, 1995 AND 1994
--------------------------------------
and 1994 through investment elections by participants in the Plan and in
1993 as a result of the tax free spinoff from Pittway Corporation.
NOTE 5 - FEDERAL INCOME TAX STATUS
- ----------------------------------
The Internal Revenue Service has determined, and informed the Company by a
letter dated March 27, 1995, that the Plan and related Trust are designed
in accordance with applicable sections of the Internal Revenue Code.
NOTE 6 - AMENDMENT AND TERMINATION OF PLAN
- ------------------------------------------
The Plan may be amended at any time by the Company. However, no amendment
may adversely affect the current rights of the participants in the Plan
with respect to contributions made prior to the date of the amendment.
Employer contributions may be discontinued and the Company may terminate
its participation in the Plan at any time.
The Plan is subject to the provisions of the Employee Retirement Income
Security Act of 1974 (ERISA) applicable to defined contribution plans.
Since the Plan provides for an individual account for each participant and
for benefits based solely on the amount contributed to the participant's
account and any income, expenses, gains and losses attributed thereto, its
benefits are not insured by the Pension Benefit Guaranty Corporation
pursuant to Title IV of ERISA.
NOTE 7 - SUBSEQUENT EVENTS
- --------------------------
Effective January 1, 1996, participants are permitted to invest in two
additional Fidelity funds and may contribute up to 16% of earnings.<PAGE>
<PAGE> 20 APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
--------------------------------
NOTES TO FINANCIAL STATEMENTS (CONT'D)
DECEMBER 31, 1995 AND 1994
NOTE 7 - INVESTMENTS:
- ---------------------
The cost and market value of investments at December 31, 1995 and 1994 are
as follows:
Market
1995 Investments Cost Value
- ---------------- ----- -------
Money Market Fund-
Fidelity Money Market Fund,
5,002,524 Shares $ 5,002,524 $ 5,002,524
Magellan Fund-
Fidelity Magellan Fund Portfolio,
137,444 Shares 9,840,187 11,817,471
AptarGroup Stock Fund-
AptarGroup, Inc. Stock,
71,463 Shares 1,720,595 2,670,922
Growth and Income Fund-
Fidelity Growth and Income
Portfolio #027-0254927262,
118,731 Shares 2,625,766 3,211,670
Managed Income Fund-
Fidelity Managed Income,
806,088 Shares 806,088 806,088
----------- -----------
$19,995,160 $23,508,675
=========== ===========<PAGE>
<PAGE> 21 APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
--------------------------------
NOTES TO FINANCIAL STATEMENTS (CONT'D)
DECEMBER 31, 1995 AND 1994
Market
1994 Investments Cost Value
- ---------------- ----- -------
Money Market Fund-
Fidelity Money Market Fund,
4,619,384 shares $ 4,619,384 $ 4,619,384
Magellan Fund-
Fidelity Magellan Fund Portfolio,
120,280 shares 8,249,821 8,034,694
AptarGroup Stock Fund-
AptarGroup, Inc. Stock,
53,537 shares 1,101,673 1,539,198
Growth and Income Fund-
Fidelity Growth and Income Portfolio
#027-0254927262,
89,808 shares 1,916,602 1,894,060
Managed Income Fund-
Fidelity Managed Income,
690,808 shares 690,808 690,808
----------- -----------
$16,578,288 $16,778,144
=========== ===========
<PAGE>
<PAGE> 22 APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
--------------------------------
NOTES TO FINANCIAL STATEMENTS (CONT'D)
DECEMBER 31, 1995 AND 1994
The changes in unrealized appreciation/(depreciation) of investments during
the years ended December 31, 1995 and 1994 are as follows:
Balance at Appreciation/ Balance at
1/1/95 (Depreciation) 12/31/95
------------- --------------- -----------
Magellan Fund $ (215,127) $ 2,192,411 $ 1,977,284
AptarGroup Stock
Fund 437,525 512,802 950,327
Growth and Income Fund (22,542) 608,446 585,904
-------- --------- ---------
Total $ 199,856 $ 3,313,659 $ 3,513,515
======== ========= =========
Balance at Appreciation/ Balance at
1/1/94 (Depreciation) 12/31/94
----------- ------------- ----------
Magellan Fund $ 230,917 $ (446,044) $ (215,127)
AptarGroup Stock Fund 156,674 280,851 437,525
Growth and Income Fund 75,254 (97,796) (22,542)
Pittway Stock Fund 264 (264) --
---------- ----------- -----------
Total $ 463,109 $ (263,253) $ 199,856
========== =========== ===========
<PAGE>
<PAGE> 23 SCHEDULE I
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1995
-----------------
Number of
Party Involved Description Shares
- ---------------------- ------------ ----------
Fidelity Money Market
Trust Retirement
Government Money Market
Portfolio Mutual Fund 5,002,524
Fidelity Magellan Fund
Portfolio Mutual Fund 137,444
AptarGroup, Inc. Stock Common Stock 71,463
Fidelity Growth and
Income Portfolio
#027-0254927262 Mutual Fund 118,731
Fidelity Managed Income
Fund Mutual Fund 806,088
Participant Loans Loan --
<PAGE>
<PAGE> 24 SCHEDULE I
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN (CONT'D)
----------------------------------------
ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1995
-----------------
Party Involved Cost Market Value
- ------------------------- ------ -------------
Fidelity Money Market Trust
Retirement Government Money
Market Portfolio $ 5,002,524 $ 5,002,524
Fidelity Magellan Fund Portfolio 9,840,187 11,817,471
AptarGroup, Inc. Stock 1,720,595 2,670,922
Fidelity Growth and Income
Portfolio #027-0254927262 2,625,766 3,211,670
Fidelity Managed Income Fund 806,088 806,088
Participant Loans 781,868 781,868
---------- ----------
Total Assets Held for Investment $20,777,028 $24,290,543
========== ==========
<PAGE>
<PAGE> 25 SCHEDULE II
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
--------------------------------
REPORTABLE TRANSACTIONS
For the Year Ended December 31, 1995
-------------------------------------
AGGREGATED 5% SECURITY TRANSACTIONS BY ISSUE
Description No. of Purchase Selling
Party involved of investment transactions price price
- -------------------- ------------- ------------- -------- ---------
Fidelity Magellan Fund Mutual fund 119 $2,709,368 $ --
Fidelity Magellan Fund Mutual fund 66 -- 1,281,690
Fidelity Money
Market Trust Mutual fund 82 1,458,531 --
Fidelity Money
Market Trust Mutual fund 82 -- 1,075,392
Fidelity Growth &
Income Mutual fund 81 1,278,529 --
Fidelity Growth &
Income Mutual fund 32 -- 587,592
Managed Income
Fund Mutual fund 55 320,359 --
Managed Income
Fund Mutual fund 29 -- 205,079
AptarGroup Stock
Fund Common stock 53 752,037 --
AptarGroup Stock
Fund Common stock 24 -- 198,086
<PAGE>
<PAGE> 26 SCHEDULE II
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN (CONT'D)
----------------------------------------
REPORTABLE TRANSACTIONS
For the Year Ended December 31, 1995
-------------------------------------
AGGREGATED 5% SECURITY TRANSACTIONS BY ISSUE
Lease Expense
Party involved rental incurred
- ---------------------- ------- ---------
Fidelity Magellan Fund -- --
Fidelity Magellan Fund -- --
Fidelity Money
Market Trust -- --
Fidelity Money
Market Trust -- --
Fidelity Growth &
Income -- --
Fidelity Growth &
Income -- --
Managed Income
Fund -- --
Managed Income
Fund -- --
AptarGroup Stock
Fund -- --
AptarGroup Stock
Fund -- --
<PAGE>
<PAGE> 27 SCHEDULE II
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN (CONT'D)
----------------------------------------
REPORTABLE TRANSACTIONS
For the Year Ended December 31, 1995
-------------------------------------
AGGREGATED 5% SECURITY TRANSACTIONS BY ISSUE
Current Net
Cost value gain
Party involved of asset transaction date or (loss)
- ---------------------- ---------- ----------------- -----------
Fidelity Magellan Fund $ -- $ 2,709,368 $ --
Fidelity Magellan Fund 1,119,002 1,281,690 162,688
Fidelity Money
Market Trust -- 1,458,531 --
Fidelity Money
Market Trust 1,075,392 1,075,392 --
Fidelity Growth &
Income -- 1,278,529 --
Fidelity Growth &
Income 569,365 587,592 18,227
Managed Income
Fund -- 320,359 --
Managed Income
Fund 205,079 205,079 --
AptarGroup Stock
Fund -- 752,037 --
AptarGroup Stock
Fund 133,115 198,086 64,971<PAGE>
<PAGE> 28
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
AptarGroup, Inc., as plan administrator, has duly caused this annual report
to be signed on its behalf by the undersigned hereunto duly authorized.
AptarGroup, Inc.
By: AptarGroup, Inc., as Plan Administrator
By: /s/Lawrence Lowrimore
----------------------
Lawrence Lowrimore
Vice President-Human Resources
June 12, 1996<PAGE>
<PAGE> 29
EXHIBIT INDEX
Exhibit No. Description Sequential Page No.
- ----------- ------------ --------------------
A Consent of Independent Accountants 30
<PAGE>
<PAGE> 30 EXHIBIT A
CONSENT OF INDEPENDENT ACCOUNTANTS
-----------------------------------
We hereby consent to the incorporation by reference in the Registration
Statement of Form S-8 (No. 33-80408) of AptarGroup, Inc of our report dated
June 5, 1996 appearing on page 3 of this Form 11-K.
/S/ Price Waterhouse LLP
- ------------------------
Price Waterhouse LLP
Chicago, Illinois
June 5, 1996
