WAHRSAGER STEWART H 4

4 · ALPINE GROUP INC /DE/ · Filed Apr 26, 2005

Form 4

Period: 2005-04-25

S.V.P., GEN.COUNSEL, CORP. SEC

Transactions

Other
Common Stock
2005-04-25+923→ 51,416 total
Purchase
Series A Cumulative Convertible Preferred Stock
2003-06-23$380.00/sh+265$100,700→ 265 total
Exercise: $0.55From: 2003-11-11Exp: 2009-12-21→ Common Stock (183,115 underlying)
Award
Common Stock
2004-01-20+40,000→ 40,000 total(indirect: See Footnote (2))
Award
Employee Stock Option (Right to Buy)
2004-01-20+90,000→ 90,000 total
Exercise: $0.91From: 2005-01-20Exp: 2014-01-20→ Common Stock (90,000 underlying)
Award
Employee Stock Option (Right to Buy)
1996-04-10+16,500→ 16,500 total
Exercise: $3.75From: 1997-04-10Exp: 2006-04-10→ Common Stock (16,500 underlying)

Footnotes (5)

[F1]Restricted Stock
[F2]Shares deposited in The Alpine Group, Inc. Deferred Stock Acct. Plan for benefit of reporting person.
[F3]The option vests and is exercisable in three equal annual installments commencing on January 20, 2005.
[F4]If a change of control occurs prior to December 31, 2009, then the expiration for conversion shall be the date which is ten days preceding the date fixed for redemption of the Series A Convertible Preferred Stock ("Series A Preferred Stock") pursuant to the offer to redeem made by the Company by reason of such change of control; provided that there is no default in payment of the control redemption price. Additionally, the Company will redeem 1/12 of the outstanding shares of Series A Preferred Stock on December 31, 2009 and on the last day of every calendar quarter thereafter until all outstanding shares of Series A Preferred Stock have been redeemed.
[F5]Shares earned by Mr. Wahrsager under the Company's Deferred Stock Account Plan, based on election of Mr. Wahrsager made in April 2000. Additionally, the 1,846 shares previously deposited in such Plan for the benefit of Mr. Wahrsager (and shown as indirectly owned) were released to his direct ownership upon expiration of the five year deferral period.

Documents

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