<PAGE> 1
- ------
FORM 4
- ------
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check box if no
longer subject to Filed pursuant to Section 16(a) of the Securities
Section 16. Form 4 Exchange Act of 1934, Section 17(a) of the
or Form 5 obligations Public Utility Holding Company Act of 1935
may continue. See or Section 30(f) of the Investment Company
Instruction 1(b). Act of 1940
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
| 1. Name and Address of Reporting Person | 2. Issuer Name and Ticker or Trading Symbol |6. Relationship of Reporting Person to|
| Stern Yoav | Kellstrom Industries, Inc. (KELL) | Issuer (Check all applicable) |
|--------------------------------------------|----------------------------------------------| |
| (Last) (First) (Middle) | 3. IRS Identification | 4. Statement For | [X] Director [ ] 10% Owner |
| | Number of Reporting | Month/Year | [ ] Officer (give [ ] Other (Specify|
| | Person, if an Entity | | title below) |
| c/o Kellstrom Industeies, Inc. | (Voluntary) | April 2000 | below) |
| 1100 International Parkway | | | |
|--------------------------------------------| |--------------------|--------------------------------------|
| (Street) | | 5. If Amendment, |7. Individual or Joint/Group Filing |
| | | Date of Original| (Check applicable line) |
| | | (Month/Year) | [X] Form Filed by One |
| Sunrise FL 33323 | | | Reporting Person |
|--------------------------------------------|----------------------------------------------| [ ] Form Filed by More Than |
| (City) (State) (Zip) | | One Reporting Person |
| | | |
|----------------------------------------------------------------------------------------------------------------------------------|
| TABLE 1 -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED |
|----------------------------------------------------------------------------------------------------------------------------------|
|1. Title of Security |2. Transaction |3. Transac- |4. Securities Acquired (A) | 5. Amount of Se- |6. Owner- |7. Nature |
| (Instr. 3) | Date | tion Code | or Disposed of (D) | curities Benefi-| ship | of In- |
| | (Month/Day/ | (Instr. 8) | | cially Owned at | Form: | direct |
| | Year) | | | End of Month | Direct | Benefi-|
| | | | (Instr. 3, 4 and 5) | (Instr. 3 and 4)| (D) or | cial |
| | |--------------|---------------------------| | Indirect | Owner- |
| | | Code | V | Amount | (A) or| Price| | (I) | ship |
| | | | | | (D) | | | (Instr. 4)| (Instr.|
| | | | | | | | | | 4) |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| Common Stock | 04/27/00 | P | -- | 2,300 | A |$4.02 | | D | N/A |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| Common Stock | 04/27/00 | P | -- | 10,500 | A |$4.07 | | D | N/A |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| Common Stock | 04/27/00 | P | -- | 2,200 | A |$4.13 | | D | N/A |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| Common Stock | 04/28/00 | P | -- | 5,000 | A |$4.13 | | D | N/A |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| Common Stock | 04/28/00 | P | -- | 5,000 | A |$4.04 | 222,399 | D | N/A |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| | | | | | | | | | |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| | | | | | | | | | |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| | | | | | | | | | |
- ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
(Print or Type Responses)
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
FORM 4 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
|1. Title of Derivative | 2. Conver- |3. Trans- |4. Trans- |5. Number of | 6. Date Exer- |7. Title and Amount |8. Price |
| Security | sion or | action | action | Derivative | cisable and | of Underlying | of |
| (Instr. 3) | Exercise | Date | Code | Securities | Expiration | Securities | Deriv- |
| | Price of | (Month/| (Instr.| Acquired (A) | Date | (Instr. 3 and 4) | ative |
| | Deriv- | Day/ | 8) | or Disposed | (Month/Day/ | | Secur- |
| | ative | Year) | | or (D) | Year) | | ity |
| | Security | | | (Instr. 3, | | | (Instr. 5)|
| | | | | 4, and 5) |-----------------|--------------------| |
| | | | | | Date |Expira- | | Amount or| |
| | | |----------|----------------| Exer- |tion | Title | Number of| |
| | | | Code| V | (A) | (D) | cisable|Date | | Shares | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| Employee Stock Options| $10.125/sh. | -- | -- | -- | -- | -- | (1) |10/08/08| Common | 107,000 | -- |
| (Right to buy) | | | | | | | | | Stock | | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| Employee Stock Options| $10.125/sh. | -- | -- | -- | -- | -- | (2) |10/08/08| Common | 176,000 | -- |
| (Right to buy) | | | | | | | | | Stock | | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| Employee Stock Options| $8.38/sh. | -- | -- | -- | -- | -- | (3) |01/02/07| Common | 245,000 | -- |
| (Right to buy) | | | | | | | | | Stock | | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| Employee Stock Options| $7.63/sh. | -- | -- | -- | -- | -- | (4) |09/19/96| Common | 100,000 | -- |
| | | | | | | | | | Stock | | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| Employee Stock Options| $5.00/sh. | -- | -- | -- | -- | -- | (5) |09/07/05| Common | 49,000 | -- |
| (Right to buy) | | | | | | | | | Stock | | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| Warrants | $19.00/sh. | -- | -- | -- | -- | -- | immed |09/09/02| Common | 2,888 | -- |
| (Right to buy) | | | | | | | | | Stock | | |
- ------------------------------------------------------------------------------------------------------------------------------------
| Warrants | $22.00/sh. | -- | -- | -- | -- | -- | immed |09/09/00| Common | 1,238 | -- |
| (Right to buy) | | | | | | | | | Stock | | |
- ------------------------------------------------------------------------------------------------------------------------------------
| Warrants | $26.00/sh. | -- | -- | -- | -- | -- | immed |06/17/01| Common | 2,750 | -- |
| (Right to buy) | | | | | | | | | Stock | | |
- ------------------------------------------------------------------------------------------------------------------------------------
| Warrants | $27.50/sh. | -- | -- | -- | -- | -- | immed |12/31/02| Common | 1,238 | -- |
| (Right to buy) | | | | | | | | | Stock | | |
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
<S> <C> <C>
- ------------------------------------------------------------------------------
| 9. Number of | 10. Ownership | 11. Nature of |
| Derivative | Form of | Indirect |
| Securities | Derivative | Beneficial |
| Beneficially | Security: | Ownership |
| Owned at End | Direct (D) | (Instr. 4) |
| of Month | or Indirect (I) | |
| (Instr. 4) | (Instr. 4) | |
| | | |
|---------------------|-------------------------------|----------------------|
| 107,000 | D | N/A |
|---------------------|-------------------------------|----------------------|
| 176,000 | D | N/A |
|---------------------|-------------------------------|----------------------|
| 245,000 | D | N/A |
|---------------------|-------------------------------|----------------------|
| 100,000 | D | N/A |
|---------------------|-------------------------------|----------------------|
| 49,000 | D | N/A |
|---------------------|-------------------------------|----------------------|
| 2,362 | D | N/A |
- ------------------------------------------------------------------------------
| 1,012 | D | N/A |
|---------------------|-------------------------------|----------------------|
| 2,250 | D | N/A |
- ------------------------------------------------------------------------------
| 1,012 | D | N/A |
- ------------------------------------------------------------------------------
Explanation of Responses:
(1) These Employee Stock Options were acquired 10/08/98 and fully vested on
12/19/99.
(2) These Employee Stock Options were acquired 10/08/98 and vest in two equal
installments on 04/27/99 and 10/27/00.
(3) These Employee Stock Options were acquired 01/02/97 and vest in two equal
installments on 01/02/98 and 01/02/99.
(4) These Employee Stock Options were acquired 09/19/96 and vest in three equal
installments on 09/19/97 and 09/19/98 and 09/19/99.
(5) These Employee Stock Options were acquired 09/07/95 and vest in three equal
installments on 09/07/96, 09/07/97 and 09/07/98.
** Intentional misstatements or omissions of facts constitute Federal Criminal /s/ Yoav Stern 5/2/00
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). -------------------------------- ----------
**Signature of Reporting Person(1) Date
Yoav Stern
Note. File three copies of this form, one of which must be manually signed. Page 2
If space provided is insufficient, see Instruction 6 for procedure.
(Print or Type Responses)
</TABLE>
