<PAGE>
FORM 5
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Check this box if no longer
subject to Section 16. Form
4 or Form 5 obligations may
continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
<TABLE>
<CAPTION>
- - ------------------------------------- ------------------------------------------- ------------------------------------------
1.Name and Address of Reporting Person* 2.Issuer Name and Ticker or Trading Symbol 6.Relationship of Reporting Person to Issuer
<S> <C> <C>
(Check all applicable)
Smith, William W.
Elcom International, Inc. - ELCO X Director 10% Owner
- - ---------------------------------------- -----------------------------------------
(Last)(First)(Middle) 3.IRS or Social Security 4.Statement for Officer(Give Other(specify
Number of Reporting Month/Year title below) below)
10 Oceana Way Person (Voluntary) 12/98
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(Street) 5.If Amendment, Date 7.Individual or Joint/Group Filing
of Original (Month (Check applicable line)
Norwood, MA 02062 /Year)
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(City) (State)(Zip) X Form Filed by one Reporting Person
Form Filed by more than one Reporting
Person
</TABLE>
Table 1 - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
<TABLE>
<CAPTION>
- - -----------------------------------------------------------------------------------------------------------------------------------
- - -------------------------- ---------------- -------------- ----------------------- ----------------- ----------------- ------------
1.Title of Security 2.Transaction 3.Transaction 4.Securities Acquired 5.Amount of 6.Ownership 7.Nature of
(Instr. 3) Date Code (A)or Disposed of(D) Securities Form: Indirect
Month/Day/ (Instr. 8) (Instr. 3, 4 and 5) Beneficially Direct (D)or Beneficial
Year) ------- ------ ------ Owned at End Indirect (I) Ownership
Amount (A)or Price of Issuer's (Instr. 3) (Instr. 4)
(D) Fiscal Year
(Instr. 3
and 4)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
- - -------------------------- ---------------- --------------- --------------------- ------------------- ------------- -------------
Common Stock, $.01 par value -0-
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</TABLE>
* If the form is filed by more than one Reporting Person, see Instruction 4(b)
(v). Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
(Print or Type Responses)
<PAGE>
FORM 5 (continued)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
1.Title of Derivative 2.Conver- 3.Trans- 4.Trans- 5.Number of 6.Date Exer- 7.Title and 8.Price 9.Number 10.Owner- 11.Na-
Security(Instr. 3) sion or action action Derivative cisable and Amount of of of Deriv- ship ture
Exercise Date Code Securities Expiration Underlying Deriv- ative Form of In-
Price of (Month/ Acquired(A) Date Securities ative Secur- of De- direct
Deriv- Day/ Instr.8) or Disposed (Month/Day/ (Instr.3 and Secur- ities tivative Bene-
ative Year) of (D) Year) 4) ity Bene- Secur- ficial
Security (Instr. Ficially ity; Own-
(Instr. 3,4 Owned Direct ership
and 5) at End (D) or
of Month Indi-
(Date of rect(I) Instr.4)
Option Date Expira- Amount or (Instr.4)
Grant) Exer- tion Title Number of (Instr.4)
cis- Date Shares
(A) (D) able
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
- - --------------------- -------- --------- -------- ----- ----- ------- ------- ------- -------- ------- -------- ----------------
Stock Option
(right to buy) $.11 2/23/93 (3) 2/23/03 Common 5,540 D
(1)(2) Stock
- - ---------------------- ------- --------- -------- ----- ------ ------- --------- ------- --------- ------ -------- -------- ------
Stock Option
(right to buy) (4) (4) (4) (4) Common 20,000(4) D
(1)(4) Stock
- - ---------------------- ------- --------- -------- ----- ------ ------- --------- -------- --------- ----- --------- -------- ------
Stock Option
(right to buy) $4.25 6/1/98 A 5,000 6/1/99 6/1/08 Common 5,000 5,000 D
(1) (5) Stock
- - ---------------------- ------- -------- -------- ----- ------ ------- -------- --------- --------- ----- ---------- ------- -------
</TABLE>
Explanation of Responses:
(1)Granted in tandem with tax withholding rights pursuant to a stock option
plan of Elcom International, Inc. which complies with Rule 16b-3.(2)
(2)Previously reported.
(3)Such option was fully vested on March 30, 1997.
(4)The reporting person was granted options to buy 20,000 shares of Common Stock
(in tandem with tax withholding rights) pursuant to a stock option plan of
Elcom International, Inc., in reliance on the exemption provided by Rule 16b-3.
All options were granted between October 9, 1995 and June 2, 1997, at exercise
prices ranging from $5.875 to $6.57 per share, will expire between October 9,
2005 and June 2, 2007 and are exercisable between October 9, 1996 and June 2,
2000, with each grant vesting ratablyover three years commencing one year from
date of option grant. Ownership of these securities was reported on a previous
Form 3, Form 4 or Form 5.
(5)The date noted is one year from the original date of option grant. One-third
of the option vests on each anniversary of the original date of grant,
commencing one year from the date of original option grant.
**Intentional misstatements or omissions of fact constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ William W. Smith ________ February 13, 1999
**Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
