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OMB APPROVAL
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OMB Number 3235-0287
Expires: January 31, 2005
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 4
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(h) 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).
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Martin Bidart
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(First) (Middle) (Last)
c/o Penn Engineering & Manufacturing Corp.
5190 Old Easton Road
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(Street)
Danboro PA 18916
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Penn Engineering & Manufacturing Corp. (PNN) & (PNNA)
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3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
________________________________________________________________________________
4. Statement for Month/Day/Year
December 5, 2002
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5. If Amendment, Date of Original (Month/Day/Year)
December 2002
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
|X| Director |_| 10% Owner
|X| Officer (give title below) |_| Other (specify below)
President and Chief Operating Officer
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________________________________________________________________________________
7. Individual or Joint/Group Filing (Check Applicable line)
|X| Form Filed by One Reporting Person
|_| 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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5.
Amount of 6.
4. Securities Owner-
Securities Acquired (A) or Beneficially ship
2A. 3. Disposed of (D) Owned Form: 7.
2. Deemed Transaction (Instr. 3, 4 and 5) Following Direct Nature of
Trans- Execution Code --------------------------- Reported (D) or Indirect
1. action Date, if (Instr. 8) (A) Transaction(s) Indirect Beneficial
Title of Security Date any ------------ or (Instr. 3 & (I) Ownership
(Instr. 3) (mm/dd/yy) (mm/dd/yy) Code V Amount (D) Price Instr.4) (Instr.4) (Instr.4)
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Common Stock, $.01 par value -- -- -- -- -- -- -- 4,064.026(1) D
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Common Stock, $.01 par value -- -- -- -- -- -- -- 49.581(2) D
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Common Stock, $.01 par value -- -- -- -- -- -- -- 800 I By Wife
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Class A Common Stock,
$.01 par value -- -- -- -- -- -- -- 200 I By Wife
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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).
Persons who respond to the collection of information contained in this
form are not required to respond unless the form displays a currently
valid OMB control number
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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9.
Number 10.
of Owner-
deriv- ship
ative Form
2. Secur- of
Conver- 5. 7. ities Deriv- 11.
sion Number of Title and Amount Bene- ative Nature
or Derivative 6. of Underlying 8. ficially Secur- of
Exer- 3A. 4. Securities Date Securities Price Owned ity: In-
cise Deemed Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Follow- Direct direct
Price 3. Execut- action or Disposed Expiration Date ---------------- Deriv- ing (D) or Bene-
1. of Trans- ion Code of(D) (Month/Day/Year) Amount ative Reported In- ficial
Title of Deriv- action Date if (Instr. (Instr. 3, ---------------- or Secur- Trans- direct Owner-
Derivative ative Date any 8) 4 and 5) Date Expira- Number ity action(s) (I) ship
Security Secur- (mm/dd/ (mm/dd/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity yy) yy) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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Employee
Stock Option
(Right Common
to Buy) $11.70 12/5/02 A 8,750 12/5/03 12/5/12 Stock 8,750 (3) 8,750 D
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Employee
Stock Option
(Right Common
to Buy) $11.70 12/5/02 A 8,750 12/5/04 12/5/12 Stock 8,750 (3) 8,750 D
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Employee
Stock Option
(Right Common
to Buy) $11.70 12/5/02 A 8,750 12/5/05 12/5/12 Stock 8,750 (3) 8,750 D
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Employee
Stock Option
(Right Common
to Buy) $11.70 12/5/02 A 8,750 12/5/06 12/5/12 Stock 8,750 (3) 8,750 D
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Explanation of Responses:
(1) Reflects shares purchased under the Penn Engineering & Manufacturing Corp.
Stock Purchase Plan.
(2) Reflects shares purchased under the PennEngineering Dividend Reinvestment
and Stock Purchase Plan.
(3) These stock options were granted pursuant to Rule 16b-3 under the
Company's 1999 Stock Option Plan.
/s/ Martin Bidart March 14, 2003
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**Signature of Reporting Person Date
** 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 space is insufficient, see Instruction 6 for procedure.
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