1 ------------------------------ FORM 4 OMB APPROVAL ------------------------------ OMB NUMBER 3235-0287 EXPIRES: FEBRUARY 1, 2001 ESTIMATED AVERAGE BURDEN HOURS PER RESPONSE ....... 1.0 ------------------------------ U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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(1) OF THE INVESTMENT COMPANY ACT OF 1940 / / CHECK THIS BOX IF NO LONGER SUBJECT TO SECTION 16. FORM 4 OR FORM 5 OBLIGATIONS MAY CONTINUE. SEE INSTRUCTION 1(b). ________________________________________________________________________________ 1. Name and Address of Reporting Person Reicher Michael K. - -------------------------------------------------------------------------------- (Last) (First) (Middle) C/o Halsey Drug Co., Inc. 695 N. Perryville Rd. Bldg. 2 - -------------------------------------------------------------------------------- (Street) Rockford, Illinois 61107 - -------------------------------------------------------------------------------- (City) (State) (Zip) ________________________________________________________________________________ 2. Issuer Name and Ticker or Trading Symbol Halsey Drug Co., Inc. Symbol: HDG ________________________________________________________________________________ 3. IRS or Social Security Number of Reporting Person (Voluntary) ________________________________________________________________________________ 4. Statement for Month/Year 4/00 ________________________________________________________________________________ 5. If Amendment, Date of Original (Month/Year) ________________________________________________________________________________ 6. Relationship of Reporting Person to Issuer (Check all applicable) /X/ Director / / 10% Owner /X/ Officer (give title below) / / Other (specify below) Chief Executive Officer ________________________________________________________________________________ TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED ================================================================================ Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (over) (Print or Type Responses) SFC 1474 (3/91)
6. 4. 5. Owner- Securities Acquired (A) or Amount of ship 2. 3. Disposed of (D) Securities Form: 7. Transaction Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of Date Code ---------------------------- Owned at End (D) or Indirect 1. (Month/ (Instr. 8) (A) of Month Indirect Beneficial Title of Security Day/ ------------ or (Instr. 3 (I) Ownership (Instr. 3) Year) Code V Amount (D) Price and 4) (Instr.4) (Instr. 4) - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ==================================================================================================================================== 2 FORM 4 (Continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================ EXPLANATION OF RESPONSES: (1) Purchased in connection with a private offering on March 10, 1998 consisting of a Convertible Debenture convertible at any time and Stock Purchase Warrants (32,375 shares of which are presently exercisable at $1.404 per share and 31,579 shares of which are presently exercisable at $2.279 per share). (2) Acquired pursuant to an option exercise in June 1998, consisting of: (i) a Convertible Debenture, convertible at any time, (ii) Warrants to purchase shares of common stock (7,782 shares of which are presently exercisable at $1.404 per share and 7,590 shares of which are presently exercisable at $2.279 per share) (3) Options vest quarterly, with 62,500 options vesting every quarter effective May 1, 1998. (4) Certain quarterly interest payments are paid in the form of convertible debentures. (5) Options vest 25% annually. (6) Transferred without consideration of as part of a settlement agreement contained within a QDRO. By: /s/ Michael K. Reicher May 1, 2000 - --------------------------------------------- ----------------------- Michael K. Reicher SIGNATURE OF REPORTING PERSON INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL CRIMINAL VIOLATIONS. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a) NOTE: FILE THREE COPIES OF THIS FORM, ONE OF WHICH MUST BE MANUALLY SIGNED. IF SPACED PROVIDED IS INSUFFICIENT, SEE INSTRUCTION 6 FOR PROCEDURE.
10. 9. Owner- Number ship of Form 2. Deriv- of Conver- 5. 7. ative Deriv- 11. sion Number of Title and Amount Secur- ative Nature or Derivative 6. of Underlying 8. ities Secur- of Exer- 4. Securities Date Securities Price Bene- ity: In- cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene- 1. of action Code of (D) (Month/Day/Year) Amount ative at End In- ficial Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner- Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship Security Secur- Day/ ------- ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) - ------------------------------------------------------------------------------------------------------------------------------------ 5% Convertible Senior Secured Common Debentures $ 1.404 3/10/98 A (1) 3/10/98 3/15/03 Stock 213,675 213,675 D - ------------------------------------------------------------------------------------------------------------------------------------ Common Warrants $ 1.404 3/10/98 A (1) 3/10/98 3/15/05 Stock 32,375 32,375 D - ------------------------------------------------------------------------------------------------------------------------------------ Common Warrants $ 2.279 3/10/98 A (1) 3/10/98 3/15/05 Stock 31,579 31,579 D - ------------------------------------------------------------------------------------------------------------------------------------ 5% Convertible Senior Secured Common Debentures $ 1.404 6/12/98 A (2) 6/12/98 3/15/03 Stock 51,363 51,363 D - ------------------------------------------------------------------------------------------------------------------------------------ Common Warrants $ 1.404 6/12/98 A (2) 6/12/98 3/15/05 Stock 7,782 7,782 D - ------------------------------------------------------------------------------------------------------------------------------------ Common Warrants $ 2.279 6/12/98 A (2) 6/12/98 3/15/05 Stock 7,590 7,590 D - ------------------------------------------------------------------------------------------------------------------------------------ Non- qualified Stock Common Options $ 2.375 2/19/98 A (3) 2/19/08 Stock 1,000,000 1,000,000 D - ------------------------------------------------------------------------------------------------------------------------------------ 5% Convertible Senior Secured Common Debentures $1.1312 4/1/99 A (4) 4/1/99 3/15/03 Stock 4,111 4,111 D - ------------------------------------------------------------------------------------------------------------------------------------ Non- qualified Stock Common Options $ 1.125 4/12/99 A (5) 3/8/00 3/8/09 Stock 100,000 100,000 D - ------------------------------------------------------------------------------------------------------------------------------------ 5% Convertible Senior Secured Common Debentures $2.4250 7/1/99 A (4) 7/1/99 3/15/03 Stock 1,939 1,939 D - ------------------------------------------------------------------------------------------------------------------------------------ 5% Convertible Senior Secured Common Debentures $2.3063 10/1/99 A (4) 10/1/99 3/15/03 Stock 1,789 1,789 D - ------------------------------------------------------------------------------------------------------------------------------------ Non- qualified Stock Common Options $ 1.875 2/17/00 A (5) 2/17/01 2/17/10 Stock 125,000 125,000 D - ------------------------------------------------------------------------------------------------------------------------------------ 5% Convertible Senior Secured Common Debentures $ 1.722 4/1/00 A (4) 4/1/00 3/15/03 Stock 1,440 1,440 D - ------------------------------------------------------------------------------------------------------------------------------------ 5% Convertible Senior Secured Common Debentures $ 1.404 3/10/98 J (6) 3/10/98 3/15/03 Stock (106,837) (106,837) D - ------------------------------------------------------------------------------------------------------------------------------------ Common Warrants $ 1.404 3/10/98 J (6) 3/10/98 3/15/05 Stock (16,187) (16,187) D - ------------------------------------------------------------------------------------------------------------------------------------ Common Warrants $ 2.279 3/10/98 J (6) 3/10/98 3/15/05 Stock (15,789) (15,789) D - ------------------------------------------------------------------------------------------------------------------------------------ 5% Convertible Senior Secured Common Debentures $ 1.404 6/12/98 J (6) 6/12/98 3/15/03 Stock (25,681) (25,681) D - ------------------------------------------------------------------------------------------------------------------------------------ Common Warrants $ 1.404 6/12/98 J (6) 6/12/98 3/15/05 Stock (3,891) (3,891) D - ------------------------------------------------------------------------------------------------------------------------------------ Common Warrants $ 2.279 6/12/98 J (6) 6/12/98 3/15/05 Stock (3,795) (3,795) D ====================================================================================================================================