Form 4 - Jay Gelman

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549

 

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

        Check here 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(h) of the Investment Company Act of 1940

 

1  Name and Address of Reporting Person *

    Gelman        Jay       
    (Last)        (First)        (Middle)

    95 Rockwell Place
    (Street 1)

   
    (Street 2)

    Brooklyn        NY        11217
    (City)        (State)        (Zip)

2  Issuer Name and Ticker or Trading Symbol

    Track Data Corporation
    TRAC

6  Relationship of Reporting Person(s) to Issuer
    (Check All Applicable)

          X     Director                       10% Owner
        X     Officer                         Other
    (Give Title below)          (Specify below)
      Executive Vice President          

3  IRS Identification
    Number of
    Reporting Person,
    if an entity
    (Voluntary)

4  Statement for
    Month/Day/Year

01/23/2003

5  If Amendment,
    Date of Original
      (Month/Day/Year)

7  Individual or Joint/Group Filing
    (Check Applicable Line)

     X   Filed by One Reporting Person
          Filed by More Than One Reporting Person

Table I -- Non-Derivative Securities Acquired, Disposed Of or Beneficially Owned

1 Title of Security
     (Instruction 3)

2 Trans-
   action
   Date
    mm/dd/yy

2A Deemed
   Execution
   Date
    mm/dd/yy

3 Trans-
   action
   Code
     (Instr 8)

4 Securities Acquired (A)
   or Disposed Of (D)
     (Instructions 3, 4, 5)

5 Amount of
   Securities
   Beneficially
   Owned After
   Reported
   Transactions
     (Instructions 3, 4)

6 Owner-
   ship
   Form:
   Direct (D)
   or
   Indirect (I)
     (Instr 4)

7 Nature of Indirect
   Beneficial Ownership
     (Instruction 4)


Code


V


Amount

(A)
or
(D)


Price

Common Stock

 

 

 

 

 

 

None  

 

 

FORM 4     (Continued)

Table II -- Derivative Securities Acquired, Disposed Of or Beneficially Owned
(Puts, Calls, Warrants, Options, Convertible Securities)

1 Title of
   Derivative
   Security
     (Instruction 3)

2 Con-
  version
  or
  Exer-
  cise
  Price of
  Deriv-
  ative
  Security

3 Trans-
   action
   Date
    mm/dd/yy

3A
  Deemed
  Execu-
  tion
  Date
    mm/dd/yy

4
Trans-
action
Code
   (Instr 8)

5 Number of
   Derivative
   Securities
   Acquired (A) or
   Disposed Of (D)
     (Instructions 3, 4, 5)

6 Date
   Exercisable and
   Expiration Date
      (Month/Day/Year)

7 Title and Amount
   of Underlying
   Securities
     (Instructions 3, 4)

8 Price
   of Deri-
   vative
   Sec-
   urity
     (Instr 5)

9 Number
of Deri-
vative
Securities
Owned
After
Reported
Trans-
actions    (Instr 4)

10 Own-
  ership
  Form:
  Direct
  (D)
  or
  Indirect
  (I)
    (Instr 4)

11 Nature
   of Indirect
   Beneficial
   Ownership
     (Instr 4)


Code


V


(A)


(D)

  Date
  Exer-
  cisable

  Expir-
  ation
  Date


Title

Amount
or
Number
of Shares

Stock Options

$1.00-1.25

01/23/03

A

 

  100,000

                

*

01/22/08

Common Stock

  100,000

$1.00-1.25

  600,000

D

 

Explanation of Responses:
Exercisable 1/2 on 12/31/03 and 1/2 on 1/31/04

 

        Jay Gelman
        __________________________
    ** Signature of Reporting Person

Jan 24, 2003
___________
Date

*   If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**  Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
    See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).


SEC 1474 (08-02)