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FORM 5
[ ] Check this box if no ------------------------------------
longer subject to OMB APPROVAL
Section 16, Form 4 or ------------------------------------
Form 5 obligations may OMB Number 3235-0362
continue. See Instruction 1(b) Expires: December 31, 2001
[ ] Form 3 Holdings Reported Estimated average burden
[ ] Form 4 Transactions Reported hours per response .............1.0
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U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
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
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1. Name and address of Reporting Person*
Vukovich, Robert A.
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(Last) (First) (MI)
InKine Pharmaceutical Company, Inc. Sentry Park East 1720 Walton Road
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(Street)
Blue Bell, PA 19422
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
InKine Pharmaceutical Company, Inc. (INKP)
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3. IRS or Social Security Number
of Reporting Person (Voluntary) 000-00-0000
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4. Statement for Month/Year | 5. If Amendment, Date of
| Original (Month/Year)
6/2000 |
|
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6. Relationship of Reporting Person to Issuer (Check all applicable)
[ X ] Director [ ] 10% Owner
[ ] Officer [ ] Other (specify below)
(give title below)
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7. Individual or Joint/Group Reporting (Check applicable line)
X Form Filed by One Reporting Person
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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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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
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1. Title of Security | 2. Transaction Date | 3. Transaction Code | 4. Securities Acquired (A) or Disposed
(Instr. 3) | (Month/Day/Year) | (Instr. 8) | of (D) (Instr. 3, 4 and 5)
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| | | Amount | (A)or | Price
| | | | (D) |
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</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
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1. Title of Security | 5. Amount of Securities | 6. Ownership Form: | 7. Nature of Indirect Beneficial
(Instr. 3) | Beneficially Owned at | Direct (D) or | Ownership (Instr. 4)
| End of Issuer's Fiscal | Indirect (I) |
| Year (Instr. 3 & 4) | (Instr. 4) |
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</TABLE>
* If the form is filed by more than one reporting person,
see instruction 4(b)(v).
SEC 2270 (9-96)
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TABLE II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
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1. Title of Derivative Security | 2. Conversion or | 3. Transaction Date | 4. Transaction | 5. Number of Derivative
(Instr. 3) | Exercise Price of | (Month/Day/Year) | Code (Instr.| Securities Acquired
| Derivative Security | | 8) | (A) or Disposed of
| | | | (D) (Instr. 3, 4 & 5)
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| | | | (A) | (D)
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Stock Option (Right to buy) | $1.813 | 11/08/99 | A | 10,000 |
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Right to Receive Stock Grant | (FN2) | 11/08/99 | A | 5,000 |
(Subject to time vesting) | | | | |
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Stock Option (Right to buy) | $1.813 | 11/08/99 | A | 10,000 |
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Right to Receive Stock Grant | (FN3) | 05/03/00 | A | 10,000 |
(Subject to performance goals) | | | | |
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Stock Option (Right to buy) | $5.563 | 5/03/00 | A | 15,000 |
(Subject to performance goals) | | | | |
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</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security | 6. Date Exercisable and | 7. Title and Amount of Underlying | 8. Price of Derivative
(Instr. 3) | Expiration Date | Securities (Instr. 3 and 4) | Security (Instr. 5)
| (Month/Day/Year) | |
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| Date | Expiration | Title | Amount or Number |
| Exercisable | Date | | of Shares |
| | | | |
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Stock Option (Right to buy) | (FN1) | 11/07/09 | Common Stock | 10,000 |
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Right to Receive Stock Grant | (FN2) | 11/07/09 | Common Stock | 5,000 |
(Subject to time vesting) | | | | |
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Stock Option (Right to buy) | 11/08/00 | 11/07/09 | Common Stock | 10,000 |
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Right to Receive Stock Grant | (FN3) | 05/02/10 | Common Stock | 10,000 |
(Subject to performance goals) | | | | |
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Stock Option (Right to buy) | (FN4) | 05/02/10 | Common Stock | 15,000 |
(Subject to performance goals) | | | | |
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</TABLE>
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security | 9. Number of Derivative | 10. Ownership of Derivative | 11. Nature of Indirect
(Instr. 3) | Securities Beneficially | Security: Direct (D) or | Beneficial Ownership
| Owned at End of Year | Indirect (I) (Instr. 4) | (Instr. 4)
| (Instr. 4) | |
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Stock Option (Right to buy) | 10,000 | D |
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Right to Receive Stock Grant | 5,000 | D |
(Subject to time vesting) | | |
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Stock Option (Right to buy) | 10,000 | D |
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Right to Receive Stock Grant | 10,000 | D |
(Subject to performance goals) | | |
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Stock Option (Right to buy) | 15,000 | D |
(Subject to performance goals) | | |
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</TABLE>
Explanation of Responses:
(FN1) On the Transaction Date, the reporting person was granted options to
buy 10,000 shares of common stock. Of these options, 2,000 were immediately
exercisable, the remaining 8,000 options will become exercisable as follows:
2,000 options one year after the Transaction Date, 2,000 options two years after
the Transaction Date, 2,000 options three years after the Transaction Date, and
the remaining 2,000 options four years after the Transaction Date.
(FN2) On the Transaction Date, the reporting person was granted the right to
receive 5,000 shares of common stock. The right to receive 2,500 shares will
vest one year after the Transaction Date while the right to receive the
remaining 2,500 shares will vest two years after the Transaction Date.
(FN3) On the Transaction Date, the reporting person was granted the right to
receive 10,000 shares of common stock upon the achievement of certain
performance based requirements. This right will not vest until such requirements
are met.
(FN4) On the Transaction Date, the reporting person was granted options to
buy 15,000 shares of common stock. These options will become exercisable only
upon the achievement of certain performance based requirements.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ Robert F. Apple September 5, 2000
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** Signature of Reporting Person Date
Robert F. Apple
as attorney-in-fact for
Robert A. Vukovich
Note: File three copies of this form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB number.
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SEC 2270 (9/96)
