Edgar Filing: MECHANICAL TECHNOLOGY INC

SEC Form 4

FORM 4
[ ] Check this box if no longer
subject to Section 16. Form 4 or Form
5 obligations may continue.
See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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(f) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number: 3235-0287
Expires: December 31, 2001
Estimated average burden
hours per response. . . . . 0.5

1. Name and Address of Reporting Person^*
McNamee, George C.

(Last) (First) (Middle)30 South Pearl

(Street)Albany, NY 12205

(City) (State) (Zip)

2. Issuer Name and Ticker
or Trading Symbol

Mechanical Technology Incorporated MKTY

3. I.R.S. Identification
    Number of Reporting
    Person, if an entity
    (voluntary)

4. Statement for
(Month/Year)

December 2002

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

6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer Other

Officer/Other
Description

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

X Individual Filing
Joint/Group Filing

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

1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	3. Transaction Code and Voluntary Code (Instr. 8) Code \| V	4. Securities Acquired (A) or Disposed (D) Of (Instr. 3, 4, and 5) Amount \| A/D \| Price	5. Amount of Securities Beneficially Owned at End of Month (Instr. 3 and 4)	6. Owner- ship Form: Direct(D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/01/2002	S \|	14,700.00 \| D \| $3.41		I	By Corporation
Common Stock	04/02/2002	S \|	2,600.00 \| D \| $3.50		I	By Corporation
Common Stock	04/02/2002	S \|	100.00 \| D \| $3.45		I	By Corporation
Common Stock	04/02/2002	S \|	3,600.00 \| D \| $3.75		I	By Corporation
Common Stock	04/02/2002	S \|	2,200.00 \| D \| $3.71		I	By Corporation
Common Stock	04/02/2002	S \|	100.00 \| D \| $3.66		I	By Corporation
Common Stock	04/02/2002	S \|	2,700.00 \| D \| $3.63		I	By Corporation
Common Stock	04/02/2002	S \|	2,800.00 \| D \| $3.62		I	By Corporation
Common Stock	04/02/2002	S \|	100.00 \| D \| $3.61		I	By Corporation
Common Stock	04/02/2002	S \|	100.00 \| D \| $3.60		I	By Corporation
Common Stock	04/02/2002	S \|	2,000.00 \| D \| $3.56		I	By Corporation
Common Stock	04/02/2002	S \|	1,000.00 \| D \| $3.50		I	By Corporation
Common Stock	04/02/2002	S \|	100.00 \| D \| $3.55		I	By Corporation
Common Stock	04/02/2002	S \|	1,000.00 \| D \| $3.56		I	By Corporation
Common Stock	04/02/2002	S \|	1,600.00 \| D \| $3.50		I	By Corporation
Common Stock	04/03/2002	S \|	5,000.00 \| D \| $3.63		I	By Corporation
Common Stock	04/03/2002	S \|	1,637.00 \| D \| $3.53		I	By Corporation
Common Stock	04/03/2002	S \|	3,000.00 \| D \| $3.56		I	By Corporation
Common Stock	04/03/2002	S \|	3,116.00 \| D \| $3.50		I	By Corporation
Common Stock	04/03/2002	S \|	5,900.00 \| D \| $3.46		I	By Corporation
Common Stock	04/04/2002	S \|	2,306.00 \| D \| $3.35		I	By Corporation
Common Stock	04/04/2002	S \|	1,900.00 \| D \| $3.36		I	By Corporation
Common Stock	04/04/2002	S \|	2,100.00 \| D \| $3.37		I	By Corporation
Common Stock	04/04/2002	S \|	1,100.00 \| D \| $3.38		I	By Corporation
Common Stock	04/04/2002	S \|	700.00 \| D \| $3.40		I	By Corporation
Common Stock	04/04/2002	S \|	100.00 \| D \| $3.35		I	By Corporation
Common Stock	04/04/2002	S \|	2,800.00 \| D \| $3.45		I	By Corporation
Common Stock	04/04/2002	S \|	100.00 \| D \| $3.40		I	By Corporation
Common Stock	04/04/2002	S \|	100.00 \| D \| $3.36		I	By Corporation
Common Stock	04/05/2002	S \|	6,537.00 \| D \| $3.36		I	By Corporation
Common Stock	04/08/2002	S \|	100.00 \| D \| $3.49		I	By Corporation
Common Stock	04/08/2002	S \|	1,700.00 \| D \| $3.38		I	By Corporation
Common Stock	04/08/2002	S \|	100.00 \| D \| $3.43		I	By Corporation
Common Stock	04/08/2002	S \|	100.00 \| D \| $3.39		I	By Corporation
Common Stock	04/08/2002	S \|	100.00 \| D \| $3.38		I	By Corporation
Common Stock	04/08/2002	S \|	100.00 \| D \| $3.44		I	By Corporation
Common Stock	04/09/2002	S \|	4,654.00 \| D \| $3.45		I	By Corporation
Common Stock	04/09/2002	S \|	6,000.00 \| D \| $3.35		I	By Corporation
Common Stock	04/10/2002	S \|	1,900.00 \| D \| $3.27		I	By Corporation
Common Stock	04/10/2002	S \|	2,500.00 \| D \| $3.28		I	By Corporation
Common Stock	04/10/2002	S \|	5,600.00 \| D \| $3.33		I	By Corporation
Common Stock	04/11/2002	S \|	3,000.00 \| D \| $3.31		I	By Corporation
Common Stock	04/12/2002	S \|	5,700.00 \| D \| $3.25		I	By Corporation
Common Stock	04/16/2002	S \|	2,600.00 \| D \| $3.10		I	By Corporation
Common Stock	04/16/2002	S \|	2,300.00 \| D \| $3.11		I	By Corporation
Common Stock	04/16/2002	S \|	600.00 \| D \| $3.12		I	By Corporation
Common Stock	04/16/2002	S \|	2,100.00 \| D \| $3.15		I	By Corporation
Common Stock	04/16/2002	S \|	2,500.00 \| D \| $3.16		I	By Corporation
Common Stock	04/16/2002	S \|	1,800.00 \| D \| $3.17		I	By Corporation
Common Stock	04/16/2002	S \|	2,600.00 \| D \| $3.20		I	By Corporation
Common Stock	04/16/2002	S \|	300.00 \| D \| $3.21		I	By Corporation
Common Stock	04/16/2002	S \|	200.00 \| D \| $3.24		I	By Corporation
Common Stock	04/17/2002	S \|	500.00 \| D \| $3.33		I	By Corporation
Common Stock	04/17/2002	S \|	5,900.00 \| D \| $3.35		I	By Corporation
Common Stock	04/17/2002	S \|	2,600.00 \| D \| $3.37		I	By Corporation
Common Stock	04/17/2002	S \|	2,500.00 \| D \| $3.38		I	By Corporation
Common Stock	04/17/2002	S \|	2,500.00 \| D \| $3.40		I	By Corporation
Common Stock	04/17/2002	S \|	1,000.00 \| D \| $3.41		I	By Corporation
Common Stock	04/19/2002	S \|	2,000.00 \| D \| $3.24		I	By Corporation
Common Stock	04/19/2002	S \|	2,000.00 \| D \| $3.25		I	By Corporation
Common Stock	04/19/2002	S \|	5,000.00 \| D \| $3.27		I	By Corporation
Common Stock	04/19/2002	S \|	5,000.00 \| D \| $3.28		I	By Corporation
Common Stock	04/19/2002	S \|	100.00 \| D \| $3.29		I	By Corporation
Common Stock	04/19/2002	S \|	100.00 \| D \| $3.35		I	By Corporation
Common Stock	04/19/2002	S \|	500.00 \| D \| $3.38		I	By Corporation
Common Stock	04/22/2002	S \|	15,000.00 \| D \| $3.19		I	By Corporation
Common Stock	04/23/2002	S \|	2,050.00 \| D \| $3.37		I	By Corporation
Common Stock	04/23/2002	S \|	500.00 \| D \| $3.32		I	By Corporation
Common Stock	04/23/2002	S \|	3,000.00 \| D \| $3.29		I	By Corporation
Common Stock	04/23/2002	S \|	600.00 \| D \| $3.30		I	By Corporation
Common Stock	04/23/2002	S \|	1,000.00 \| D \| $3.32		I	By Corporation
Common Stock	04/23/2002	S \|	500.00 \| D \| $3.37		I	By Corporation
Common Stock	04/23/2002	S \|	1,000.00 \| D \| $3.32		I	By Corporation
Common Stock	04/23/2002	S \|	2,500.00 \| D \| $3.34		I	By Corporation
Common Stock	04/23/2002	S \|	600.00 \| D \| $3.35		I	By Corporation
Common Stock	04/24/2002	S \|	12,000.00 \| D \| $3.38		I	By Corporation
Common Stock	04/25/2002	S \|	15,000.00 \| D \| $3.21		I	By Corporation
Common Stock	04/26/2002	S \|	15,000.00 \| D \| $3.02		I	By Corporation
Common Stock	04/29/2002	S \|	11,800.00 \| D \| $2.78		I	By Corporation
Common Stock	04/30/2002	S \|	15,000.00 \| D \| $2.74		I	By Corporation
Common Stock	05/01/2002	S \|	6,275.00 \| D \| $2.78		I	By Corporation
Common Stock	05/02/2002	S \|	12,300.00 \| D \| $2.71		I	By Corporation
Common Stock	05/03/2002	S \|	13,700.00 \| D \| $2.70		I	By Corporation
Common Stock	05/06/2002	S \|	8,700.00 \| D \| $2.59		I	By Corporation
Common Stock	05/07/2002	S \|	13,000.00 \| D \| $2.51		I	By Corporation
Common Stock	05/08/2002	S \|	4,600.00 \| D \| $2.46		I	By Corporation
Common Stock	05/08/2002	S \|	3,500.00 \| D \| $2.49		I	By Corporation
Common Stock	05/08/2002	S \|	100.00 \| D \| $2.51		I	By Corporation
Common Stock	05/09/2002	S \|	700.00 \| D \| $2.53		I	By Corporation
Common Stock	05/14/2002	S \|	6,100.00 \| D \| $2.46		I	By Corporation
Common Stock	05/14/2002	S \|	100.00 \| D \| $2.47		I	By Corporation
Common Stock	05/14/2002	S \|	1,200.00 \| D \| $2.56		I	By Corporation
Common Stock	12/20/2002	SK (1) \|	8,000,000.00 \| D \|	3,091,040.00	I	By Corporation
Common Stock				1,380,741.00	D
Common Stock				57,375.00	I	By Immediate Family

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).

(over)
SEC 1474 (3-99)

McNamee, George C. - December 2002

Form 4 (continued)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conver- sion or Exercise Price of Deri- vative Security	3. Transaction Date (Month/ Day/ Year)	4. Transaction Code and Voluntary (V) Code (Instr.8) Code \| V	5. Number of Derivative Securities Acquired (A) or Disposed (D) Of (Instr. 3,4 and 5)	6. Date Exercisable(DE) and Expiration Date(ED) (Month/Day/Year) (DE) \| (ED)	7. Title and Amount of Underlying Securities (Instr. 3 and 4)	8. Price of Derivative Security (Instr.5)	9. Number of Derivative Securities Beneficially Owned at End of Month (Instr.4)	10. Owner- ship Form of Deriv- ative Security: Direct (D) or Indirect (I)	11. Nature of Indirect Beneficial Ownership (Instr.4)

Explanation of Responses :

** 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.

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 number.

________________________________ 12-24-2002
** Signature of Reporting Person Date

George C. McNamee

Page 2
SEC 1474 (3-99)

McNamee, George C. - December 2002

Form 4 (continued)

FOOTNOTE Descriptions for Mechanical Technology Incorporated MKTY

Form 4 - December 2002

George C. McNamee
30 South Pearl

Albany, NY 12205
Explanation of responses:

(1) On December 20, 2002, MTI entered into an exchange transaction with First Albany Companies Inc. (FAC) where 8 million shares of MTI common stock owned by FAC were exchanged for 2,721,088 shares of Plug Power common stock owned by MTI.

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