<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, 1996
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:
Statements of Financial Position, With
Fund Information, at December 31, 1996 and 1995 4-7
Statements of Income and Changes in
Plan Equity, With Fund Information,
for the years ended December 31, 1996 and 1995 8-15
Notes to financial statements 16-22
Supplemental schedules:
Assets held for investment purposes at
December 31, 1996 (Schedule I) 23-24
Reportable transactions for year ended
December 31, 1996 (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, 1996 and 1995, and the results of its
operations and changes in its plan equity for the years ended December 31, 1996
and 1995, 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 Statements of Financial Position and the Statements 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 12, 1997
<PAGE>
PAGE 4
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
STATEMENTS OF FINANCIAL POSITION,
WITH FUND INFORMATION,
AT DECEMBER 31, 1996 AND 1995
-----------------------------
Money Market Magellan
Fund Fund
------------------ -------------------
ASSETS: 1996 1995 1996 1995
---- ---- ---- ----
Investments, at
market value $5,451,545 $5,002,524 $11,727,436 $11,817,471
Participant loans 846,506 781,868 -- --
--------- --------- ---------- ----------
$6,298,051 $5,784,392 $11,727,436 $11,817,471
========= ========= ========== ==========
PLAN EQUITY:
Participant's
equity $6,298,051 $5,784,392 $11,727,436 $11,817,471
========= ========= ========== ==========
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 (CONTINUED),
AT DECEMBER 31, 1996 AND 1995
--------------------------------
AptarGroup Growth and
Stock Fund Income Fund
--------------------- --------------------
ASSETS: 1996 1995 1996 1995
---- ---- ---- ----
Investments, at
market value $3,191,712 $2,670,922 $5,535,499 $3,211,670
Participant loans -- -- -- --
--------- --------- --------- ---------
$3,191,712 $2,670,922 $5,535,499 $3,211,670
========= ========= ========= =========
PLAN EQUITY:
Participants'
equity $3,191,712 $2,670,922 $5,535,499 $3,211,670
========= ========= ========= =========
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 (CONTINUED),
AT DECEMBER 31, 1996 AND 1995
-----------------------------
Managed Overseas
Income Fund Fund
--------------------- ------------------
ASSETS: 1996 1995 1996 1995
---- ---- ---- ----
Investments, at
market value $843,225 $806,088 $384,416 $ --
Participant loans -- -- -- --
------- ------- ------- -------
$843,225 $806,088 $384,416 $ --
======= ======= ======= =======
PLAN EQUITY:
Participants'
equity $843,225 $806,088 $384,416 $ --
======= ======= ======= =======
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 (CONTINUED),
AT DECEMBER 31, 1996 AND 1995
-----------------------------
Fidelity
Asset Manager TOTAL
--------------------- ---------------------
1996 1995 1996 1995
------- ------- ------- -------
ASSETS:
Investments, at
market value $ 55,450 $ -- $27,189,283 $23,508,675
Participant loans -- -- 846,506 781,868
------- ------- ---------- ----------
$ 55,450 $ -- $28,035,789 $24,290,543
======= ======= ========== ==========
PLAN EQUITY:
Participants'
equity $ 55,450 $ -- $28,035,789 $24,290,543
======= ======= =========== ===========
<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, 1996 AND 1995
----------------------------------------------
Money Market Magellan
Fund Fund
------------------ -----------------
1996 1995 1996 1995
---- ---- ---- ----
Contributions:
From
Participating
employees $ 505,506 $ 465,063 $ 842,060 $ 790,393
Employer 185,665 210,995 306,813 297,877
Income from
investments:
Dividends and
interest 288,859 290,658 1,822,898 692,129
Appreciation/
(depreciation)
in market value
of investments -- -- (526,284) 2,355,099
Benefits paid to
participants (277,649) (310,374) (727,197) (108,469)
Administrative
expenses (3,196) (1,216) (633) (209)
Transfers between
funds, net (185,526) (15,810) (1,807,692) (300,385)
-------- --------- --------- --------
<PAGE>
PAGE 9
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
STATEMENTS OF INCOME AND CHANGES IN PLAN EQUITY,
WITH FUND INFORMATION (CONTINUED),
FOR THE YEARS ENDED DECEMBER 31, 1996 AND 1995
----------------------------------------------
Money Market Magellan
Fund Fund
------------------ ----------------------
1996 1995 1996 1995
----- ----- ----- -----
Net increase/
(decrease) in
participants'
equity for the
period $ 513,659 $ 639,316 $ (90,035) $ 3,726,435
Participants'
equity,
beginning of
the period 5,784,392 5,145,076 11,817,471 8,091,036
--------- --------- ---------- ----------
Participants'
equity, end
of the
period $6,298,051 $5,784,392 $11,727,436 $11,817,471
========= ========= ========== ==========
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 (CONTINUED),
FOR THE YEARS ENDED DECEMBER 31, 1996 AND 1995
-----------------------------------------------
AptarGroup Growth and
Stock Fund Income Fund
-------------------- -------------------
1996 1995 1996 1995
------ ------ ------ ------
Contributions:
From
Participating
employees $ 290,730 $204,698 $419,972 $274,629
Employer 103,954 73,261 138,231 98,023
Income from
investments:
Dividends and
interest 32,375 22,490 257,161 163,141
Appreciation/
(depreciation)
in market value
of investments (161,983) 577,773 553,537 626,673
Benefits paid to
participants (123,299) (3,205) (394,385) (10,209)
Administrative
expenses -- -- (484) (90)
Transfers between
funds, net 379,013 247,009 1,349,797 147,925
-------- -------- --------- --------
<PAGE>
PAGE 11
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
--------------------------------
STATEMENTS OF INCOME AND CHANGES IN PLAN EQUITY,
WITH FUND INFORMATION (CONTINUED),
FOR THE YEARS ENDED DECEMBER 31, 1996 AND 1995
-----------------------------------------------
AptarGroup Growth and
Stock Fund Income Fund
------------------- -----------------
1996 1995 1996 1995
------ ------ ------ ------
Net increase/
(decrease) in
participants'
equity for the
period $ 520,790 $ 1,122,026 $2,323,829 $1,300,092
Participants'
equity,
beginning of
the period 2,670,922 1,548,896 3,211,670 1,911,578
--------- --------- --------- ---------
Participants'
equity, end of
the period $ 3,191,712 $ 2,670,922 $5,535,499 $3,211,670
========= ========= ========= =========
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 (CONTINUED),
FOR THE YEARS ENDED DECEMBER 31, 1996 AND 1995
----------------------------------------------
Managed Overseas
Income Fund Fund
-------------------- --------------------
1996 1995 1996 1995
------ ------ ------ ------
Contributions:
From
Participating
employees $ 116,348 $ 104,232 $ 30,782 $ --
Employer 40,086 38,791 11,575 --
Income from
investments:
Dividends and
interest 52,111 46,133 23,557 --
Appreciation/
(depreciation)
in market value
of investments -- -- 928 --
Benefits paid to
participants (75,713) (3,492) (21) --
Administrative
expenses (170) (76) -- --
Transfers between
funds, net (95,525) (78,739) 317,595 --
-------- ------ ------- -------
<PAGE>
PAGE 13
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
--------------------------------
STATEMENTS OF INCOME AND CHANGES IN PLAN EQUITY,
WITH FUND INFORMATION (CONTINUED),
FOR THE YEARS ENDED DECEMBER 31, 1996 AND 1995
-----------------------------------------------
Managed Overseas
Income Fund Fund
-------------------- ------------------
1996 1995 1996 1995
------ ------ ------ ------
Net increase/
(decrease) in
participants'
equity for the
period $ 37,137 $ 106,849 $ 384,416 $ --
Participants'
equity,
beginning of
the period 806,088 699,239 -- --
----------- ---------- -------- --------
Participants'
equity, and
of the period $ 843,225 $ 806,088 $ 384,416 $ --
========== ========== ======== ========
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 (CONTINUED),
FOR THE YEARS ENDED DECEMBER 31, 1996 AND 1995
----------------------------------------------
Asset
Manager Total
----------------------- -----------------------
1996 1995 1996 1995
----- ----- ----- -----
Contributions:
From
Participating
employees $ 8,209 $ -- $ 2,213,607 $ 1,839,015
Employer 2,408 -- 788,732 718,947
Income from
investments:
Dividends and
interest 3,478 -- 2,480,439 1,214,551
Appreciation/
(depreciation)
in market value
of investments (940) -- (134,742) 3,559,545
Benefits paid to
participants (43) -- (1,598,307) (435,749)
Administrative
expenses -- -- (4,483) (1,591)
Transfers between
funds, net 42,338 -- -- --
-------- -------- ---------- ----------
<PAGE>
PAGE 15
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
STATEMENTS OF INCOME AND CHANGES IN PLAN EQUITY,
WITH FUND INFORMATION (CONTINUED),
FOR THE YEARS ENDED DECEMBER 31, 1996 AND 1995
----------------------------------------------
Asset
Manager Total
----------------------- -----------------------
1996 1995 1996 1995
----- ----- ----- -----
Net increase/
(decrease) in
participants'
equity for
the period $ 55,450 $ -- $ 3,745,246 $ 6,894,718
Participants'
equity,
beginning
of the period -- -- 24,290,543 17,395,825
------- -------- ---------- ----------
Participants'
equity, end of
the period $ 55,450 $ -- $28,035,789 $24,290,543
======= ======= ========== ==========
The accompanying notes are an integral part of this statement.
<PAGE>
PAGE 16
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1996 AND 1995
--------------------------------
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 six months 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 16 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, Overseas Fund,
Asset Manager 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.
<PAGE>
PAGE 17
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
NOTES TO FINANCIAL STATEMENTS (CONT'D)
DECEMBER 31, 1996 AND 1995
---------------------------------------
Fidelity Institutional Retirement Services Company is the trustee for the Money
Market Fund, Magellan Fund, Growth and Income Fund, Managed Income Fund,
Overseas Fund, and Asset Manager Fund. CTC Illinois Trustee Company is the
trustee for the AptarGroup 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 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. Certain previously reported amounts have been reclassified to
conform to the current period presentation.
Valuation of investments
- ------------------------
All investments are stated at current market prices in actively traded markets.
<PAGE>
PAGE 18
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
NOTES TO FINANCIAL STATEMENTS (CONT'D)
DECEMBER 31, 1996 AND 1995
--------------------------------------
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 in elections.
Use of estimates
- ----------------
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of net assets and changes thereto. Actual amounts
could differ from those estimates.
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.
In accordance with the policy of stating investments at current value, net
appreciation or depreciation is reflected in the Statement of Income and Changes
in Plan Equity. This net appreciation consists of realized and unrealized gains
and losses. Realized gains and losses are calculated as the difference between
proceeds from a sales transaction and cost determined on an average basis.
Unrealized gains and losses are calculated as the change in the fair value
between the beginning of the year (or purchase date if later) and the end of the
year. Realized gains (losses) for the years ended December 31, 1996 and 1995
were $(154,276) and $378,300, respectively.
<PAGE>
PAGE 19
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
--------------------------------
NOTES TO FINANCIAL STATEMENTS (CONT'D)
DECEMBER 31, 1996 AND 1995
--------------------------------------
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, 1996 and 1995
were $1,445,868 and $1,364,531, respectively.
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 - 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, 1996 interest rates on outstanding notes 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.
<PAGE>
PAGE 20
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
NOTES TO FINANCIAL STATEMENTS (CONT'D)
DECEMBER 31, 1996 AND 1995
--------------------------------------
Stock in the AptarGroup Stock Fund was acquired by the Trustee in 1996 and 1995
on behalf of investment elections by participants in the Plan.
NOTE 5 - 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.
<PAGE>
PAGE 21
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
--------------------------------
NOTES TO FINANCIAL STATEMENTS (CONT'D)
DECEMBER 31, 1996 AND 1995
-------------------------------------
NOTE 6 - INVESTMENTS:
- ---------------------
The cost and market value of investments at December 31, 1996 and 1995 are as
follows:
Market
1996 Investments Cost Value
- ---------------- ----- -------
Money Market Fund-
Fidelity Money Market Fund,
5,451,545 shares $ 5,451,545 $ 5,451,545
Magellan Fund-
Fidelity Magellan Fund Portfolio,
145,411 shares 10,555,922 11,727,436
AptarGroup Stock Fund-
AptarGroup, Inc. Stock,
90,545 shares 2,483,054 3,191,712
Growth and Income Fund-
Fidelity Growth and Income
Portfolio #027-0254927262,
180,133 shares 4,444,659 5,535,499
Managed Income Fund-
Fidelity Managed Income,
843,225 shares 843,225 843,225
Overseas Fund-
Fidelity Overseas Fund
12,465 shares 383,723 384,416
Asset Manager Fund-
Fidelity Asset Manager
3,367 shares 56,378 55,450
Participant Loans-
Range of interest rates 7-11% 846,506 846,506
----------- -----------
$25,065,012 $28,035,789
=========== ===========
<PAGE>
PAGE 22
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
--------------------------------
NOTES TO FINANCIAL STATEMENTS (CONT'D)
DECEMBER 31, 1996 AND 1995
-------------------------------------
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
Participant Loans-
Range of interest rates 7-11% 781,868 781,868
----------- -----------
$20,777,028 $24,290,543
=========== ===========
<PAGE>
PAGE 23 SCHEDULE I
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
-------------------------------
ASSETS HELD FOR INVESTMENT PURPOSES
AT DECEMBER 31, 1996
--------------------
Number of
Party Involved Description Shares
- ---------------------- ------------ ----------
Fidelity Money Market
Trust Retirement
Government Money Market
Portfolio Mutual Fund 5,451,545
Fidelity Magellan Fund
Portfolio Mutual Fund 145,411
AptarGroup, Inc. Stock Common Stock 90,545
Fidelity Growth and
Income Portfolio
#027-0254927262 Mutual Fund 180,133
Fidelity Managed Income
Fund Mutual Fund 843,225
Fidelity Overseas Fund Mutual Fund 12,465
Fidelity Asset Manager Mutual Fund 3,367
Participant Loans Loan --
<PAGE>
PAGE 24 SCHEDULE I
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN (CONT'D)
----------------------------------------
ASSETS HELD FOR INVESTMENT PURPOSES
AT DECEMBER 31, 1996
--------------------
Party Involved Cost Market Value
- ------------------------- ------ -------------
Fidelity Money Market Trust
Retirement Government Money
Market Portfolio $ 5,451,545 $ 5,451,545
Fidelity Magellan Fund Portfolio 10,555,922 11,727,436
AptarGroup, Inc. Stock 2,483,054 3,191,712
Fidelity Growth and Income
Portfolio #027-0254927262 4,444,659 5,535,499
Fidelity Managed Income Fund 843,225 843,225
Fidelity Overseas Fund 383,723 384,416
Fidelity Asset Manager 56,378 55,450
Participant Loans 846,506 846,506
---------- ----------
Total Assets Held for Investment $25,065,012 $28,035,789
========== ==========
<PAGE>
PAGE 25 SCHEDULE II
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN
--------------------------------
REPORTABLE TRANSACTIONS
For the Year Ended December 31, 1996
-------------------------------------
AGGREGATED 5% SECURITY TRANSACTIONS BY ISSUE
--------------------------------------------
Description No. of Purchase Selling
Party involved of investment transactions price price
- -------------------- ------------- ------------- -------- ---------
Fidelity Magellan Fund Mutual fund 123 $3,319,720 $ --
Fidelity Magellan Fund Mutual fund 98 -- 2,883,471
Fidelity Money
Market Trust Mutual fund 78 1,350,346 --
Fidelity Money
Market Trust Mutual fund 82 -- 901,325
Fidelity Growth &
Income Mutual fund 104 2,330,558 --
Fidelity Growth &
Income Mutual fund 38 -- 560,266
Managed Income
Fund Mutual fund 53 585,147 --
Managed Income
Fund Mutual fund 39 -- 548,010
AptarGroup Stock
Fund Common stock 63 1,069,580 --
AptarGroup Stock
Fund Common stock 35 -- 386,806
Fidelity Overseas
Fund Mutual fund 34 386,739 --
Fidelity Overseas
Fund Mutual fund 5 -- 3,251
Fidelity Asset
Manager Mutual fund 22 56,471 --
Fidelity Asset
Manager Mutual fund 4 -- 80
<PAGE>
PAGE 26 SCHEDULE II
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN (CONT'D)
----------------------------------------
REPORTABLE TRANSACTIONS
For the Year Ended December 31, 1996
-------------------------------------
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 -- --
Fidelity Overseas
Fund -- --
Fidelity Overseas
Fund -- --
Fidelity Asset
Manager -- --
Fidelity Asset
Manager -- --
<PAGE>
PAGE 27 SCHEDULE II
APTARGROUP, INC.
PROFIT SHARING AND SAVINGS PLAN (CONT'D)
----------------------------------------
REPORTABLE TRANSACTIONS
For the Year Ended December 31, 1996
-------------------------------------
AGGREGATED 5% SECURITY TRANSACTIONS BY ISSUE
--------------------------------------------
Current Net
Cost value gain
Party involved of asset transaction date or (loss)
- ---------------------- ---------- ----------------- -----------
Fidelity Magellan Fund $ -- $ 3,319,720 $ --
Fidelity Magellan Fund 2,603,985 2,883,471 279,486
Fidelity Money
Market Trust -- 1,350,346 --
Fidelity Money
Market Trust 901,325 901,325 --
Fidelity Growth &
Income -- 2,330,558 --
Fidelity Growth &
Income 511,665 560,266 48,601
Managed Income
Fund -- 585,147 --
Managed Income
Fund 548,010 548,010 --
AptarGroup Stock
Fund -- 1,069,580 --
AptarGroup Stock
Fund 307,120 386,806 79,686
Fidelity Overseas
Fund -- 386,739 --
Fidelity Overseas
Fund 3,016 3,251 235
Fidelity Asset
Manager -- 56,471 --
Fidelity Asset
Manager 92 80 (12)
<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 25, 1997
<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
12, 1997 appearing on page 3 of this Form 11-K.
/S/ Price Waterhouse LLP
- ------------------------
Price Waterhouse LLP
Chicago, Illinois
June 25, 1997
