Whitman Education Group Inc/Jack R. Borsting
 

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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

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

1. Name and Address of Reporting
Person*
2. Issuer Name and Ticker or Trading
Symbol
3. I.R.S. Identification Number of Reporting
Person, if an entity
(Voluntary)
  Borsting, Jack R.
(Last) (First) (Middle)
  Whitman Education Group, Inc. "WIX"
 
     
  PO Box 209

(Street)
4. Statement for Month/Day/Year 5. If Amendment, Date of Original (Month/Day/Year)
    04/28/2003 - 04/29/2003
 
     
    6. Relationship of Reporting Person(s)
to Issuer
(Check All Applicable)
7. Individual or Joint/Group Filing
(Check Applicable Line)
  Palm Desert, CA 92261
(City)        (State)        (Zip)
  x  Director o  10% Owner   x Form Filed by One Reporting Person
    o  Officer (give title below)   o Form Filed by More than One Reporting Person
    o  Other (specify below)  
     
     

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).


 

                                               

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

1. Title of Security
(Instr. 3)
2. Transaction
Date

(Month/Day/Year)
2A. Deemed Execution
Date, if any

(Month/Day/Year)
3. Transaction
Code

(Instr. 8)
4. Securities Acquired (A) or
Disposed of (D)

(Instr. 3, 4 and 5)
5. Amount of Sec-
urities Beneficially
Owned Following
Reported Trans-
action(s)

(Instr. 3 and 4)
6. Ownership
Form:
Direct (D) or
Indirect (I)

(Instr. 4)
7. Nature of
Indirect
Beneficial
Ownership

(Instr. 4)

              Code V   Amount (A)
or
(D)
Price          

  Common Stock, no par value   04-28-2003     M     10,000   A   $3.1875          

  Common Stock, no par value   04-28-2003     S     10,000   D   $14.2400          

  Common Stock, no par value   04-28-2003     M     7,500   A   $8.6250          

  Common Stock, no par value   04-28-2003     S     7,500   D   $14.2501          

  Common Stock, no par value   04-28-2003     M     7,500   A   $5.7500          

  Common Stock, no par value   04-28-2003     S     7,500   D   $14.2501          

  Common Stock, no par value   04-28-2003     M     2,500   A   $5.7500          

  Common Stock, no par value   04-28-2003     S     2,500   D   $14.2500          

  Common Stock, no par value   04-29-2003     M     7,500   A   $4.9375          

  Common Stock, no par value   04-29-2003     S     7,500   D   $14.2600          

  Common Stock, no par value   04-29-2003     M     2,500   A   $4.9375          

  Common Stock, no par value   04-29-2003     S     2,500   A   $14.2600     6,600     D  

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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. Conversion or Exercise
Price of Derivative
Security
3. Transaction
Date

(Month/Day/Year)
3A.  Deemed Execution
Date, if any

(Month/Day/Year)
4. Transaction
Code

(Instr. 8)
5. Number of Derivative Securities
Acquired (A) or Disposed of (D)

(Instr. 3, 4 and 5)

                      Code V   (A) (D)

  Stock Option, (Right to Buy)     $3.1875     04-28-2003     M   10,000

  Stock Option, (Right to Buy)     $8.6250     04-28-2003     M   7,500

  Stock Option, (Right to Buy)     $5.7500     04-28-2003     M   7,500

  Stock Option, (Right to Buy)     $5.7500     04-28-2003     M   2,500

  Stock Option, (Right to Buy)     $4.9375     04-29-2003     M   7,500

  Stock Option, (Right to Buy)     $4.9375     04-29-2003     M   2,500

               

               

               

               

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

6. Date Exercisable and
Expiration Date

(Month/Day/Year)
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 Following
Reported Transaction(s)

(Instr. 4)
10. Ownership Form of
Derivative Security:
Direct (D) or
Indirect (I)

(Instr. 4)
11. Nature of
Indirect
Beneficial
Ownership

(Instr. 4)

  Date
Exercisable
Expiration
Date
  Title Amount or
Number of
Shares
                       

  11-09-1995 11-09-2005   Common Stock, no par value 10,000           0     D  

  10-14-1996 10-14-2006   Common Stock, no par value 7,500           0     D  

  10-20-1997 10-20-2007   Common Stock, no par value 7,500           0     D  

  10-20-1997 10-20-2007   Common Stock, no par value 2,500           0     D  

  08-28-1998 08-28-2008   Common Stock, no par value 7,500           0     D  

  08-28-1998 08-28-2008   Common Stock, no par value 2,500           0     D  

                   

                   

                   

                   

Explanation of Responses:

/s/ Jack R. Borsting   04-30-2003

**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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