FORM 4
U.S. SECURITIES AND EXCHANGE COMMISSION
FORM 4 Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
|_| Check this box if no longer subject
to Section 16. Form 4 or Form 5
obligations may continue. See
Instruction 1(b).
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
(Print or Type Responses)
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1. Name and Address of Reporting Person*/ 2. Issuer Name and / 5. Relationship of Reporting
/ Ticker or Trading Symbol / Person(s) to Issuer
/ / (Check all applicable)
/ / -X- Director --- 10% Owner
(Last) (First) (Middle) / DIGITAL POWER CORPORATION / -X- Officer --- Other
SMITH, ROBERT / (AMEX:DPW) / (give title below) (specify below)
/ / CHIEF EXECUTIVE OFFICER
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/ /
/ 3. Statement 4. If Amendment, Date / 6. Individual or Joint/Group Filing
/ for Month/Year of Original(Month/Year) / (Check Applicable Line)
/ / X Form filed by one Reporting Person
/ 03/2000 ---- / -- Form filed by More than One
/ / Reporting Person
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/ /
/ /
C/O DIGITAL POWER CORPORATION / /
41920 CHRISTY STREET / /
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(Street) / /
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/ /
/ /
FREMONT, CALIFORNIA 94538 / /
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(City) (State) (Zip) / /
/ /
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TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR
BENEFICIALLY OWNED
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1. Title / 2. Transaction / 3. Transaction / 4. Securities Acquired (A) / 5. Amount of / / /
of / Date / Code / or Disposed (D)(Instr.3,4,and 5) / Securities / 6. Ownership / 7.Nature of /
Security / (Mo/Day/Yr) / (Instr. 8) / / Beneficially Owned / Form: Direct/ Indirect /
(Inst.3) / / ---------------------------------------------------/ at End of Month / (D) or / Beneficial /
/ / Code / V / Amount / (A) or (D) / Price / (Instr. 3 / Indirect(I) / Ownership /
/ / / / / / / and 4 / (Instr.4) / (Instr.4) /
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n/a /
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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FORM 4 (continued)
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Title / Conversion/ Trans- / Trans- / Nature of / Date / Title /Price of / Number / Ownership / Nature of /
of / of / action / action / Derivative/ Exercisable / and / Deriv- / of / Form of / Indirect /
Derivative / Exercise / Date / Code / Securities/ and / Amount / ative / Deriv- / Derivative / Beneficial/
Security / Price of / (Mo./ / (Instr./ Aquired(A)/ Expiration / of / Secur- / ative / Security: / Ownership /
(Instr. 3) / Derivative/ Day/ / 8) / Disposed / Date / Under- / ity / Securi-/ Direct (D) / (Instr.4) /
/ Security / Year) / / of (D) / (Month / lying /Benefic- / ties / or Indirect/ /
/ / / / (Instr. 3,/ Day/ year) / Securities / ally / (I) / (Instr. 4) / /
/ / / / 4 and 5) / / (Instr. 3 / Owned /(Instr4)/ / /
/ / / / / / and 4) / at end / / / /
/ / /-----------------------------------------------------/ of / / / /
/ / /Code/ V / (A) /(D)/ Date / Expir-/ Title /Amount/ month / / / /
/ / / / / / / Exer- / ation / / / (Instr. / / / /
/ / / / / / / cisable/ Date / / / 4) / / / /
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OPTIONS TO / (1) /3/1/00 / A / /100,000/ / IMMED. /1/3/2010/COMMON / / GRANT /598,400 / D
PURCHASE / / / / / / / / /STOCK / / / /
COMMON / / / / / / / / / / / / /
STOCK / / / / / / / / / / / / /
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(1) PURSUANT TO MR. SMITH'S EMPLOYMENT CONTRACT EXECUTED ON MARCH 1, 2000, THE EXERCISE PRICE SHALL BE EQUAL TO THE LOWER OF (A) THE CLOSING PRICE OF THE COMMON STOCK AS OF JANUARY 3, 2000 ($1.56) OR (B) THE AVERAGE CLOSING PRICE OF THE COMMON STOCK FOR THE FIRST SIX MONTHS OF THE YEAR.
Explanation of Responses:
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
/s/ROBERT SMITH 4/3/2000 -------------------------------- --------- Robert Smith Date **Signature of Reporting Person |
Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.