5 1 d5.txt FORM 5 FOR NED BARLAS /------------------------------/ / OMB APPROVAL / /------------------------------/ / OMB Number: 3235-0362 / / Expires:...December 31, 2001 / / Estimated average burden / / hours per response...... 1.0 / /------------------------------/ +--------+ UNITED STATES | FORM 5 | SECURITIES AND EXCHANGE COMMISSION +--------+ Washington, D.C. 20549 [_] Check box if no longer subject ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP to Section 16. Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities obligations may Exchange Act of 1934, Section 17(a) of the continue. See Public Utility Holding Company Act of 1935 or Instruction 1(b). Section 30(f) of the Investment Company Act of 1940 [_] Form 3 Holdings Reported [_] Form 4 Transactions Reported -------------------------------------------------------------------------------- 1. Name and Address of Reporting Person* Barlas Ned E. -------------------------------------------------------------------------------- (Last) (First) (Middle) c/o Axeda Systems Inc. 257 Great Valley Parkway -------------------------------------------------------------------------------- (Street) Malvern PA 19355 -------------------------------------------------------------------------------- (City) (State) (Zip) 2. Issuer Name and Ticker or Trading Symbol Axeda Systems Inc (XEDA) ----------------------------------- 3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary) -------------- 4. Statement for Month/Year 12/2001 --------------------------------------------------- 5. If Amendment, Date of Original (Month/Year) -------------------------------- 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) [_] Director [x] Officer [_] 10% Owner [_] Other (give title below) (specify below) Senior Vice President and Chief Legal Officer 7. Individual or Joint/Group Filing (check applicable line) x Form filed by One Reporting Person --- ___ Form filed by More than One Reporting person ------------------------------------------------------------------------------- Table I--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

* If the form is filed by more than one reporting person, see instruction 4(b)(v). Potential Persons who are to 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. SEC 2270 (3-99) FORM 5 (continued) Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

Explanation of Responses: /1/ These options vest as follows: 25% after one year and the remainder in equal installments over 36 months (1/36 per month). /2/ These options will vest as follows: full vesting after one year of the vesting commencement date /3/ These options will vest as follows: vesting over a one year period on a monthly basis (1/12 per month) -------------------------------- ----------------- **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 provided is insufficient, see Instruction 6 for procedure. Potential Persons who are to 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. Page 2

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