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U.S. 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(f) 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*
Boshart Joseph A.
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(Last) (First) (Middle)
17801 Fieldbrook Circle W.
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(Street)
Boca Raton FL 33496
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Cross Country, Inc. (CCRN)
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
August 2002
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
President and Chief Executive 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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4. 5. 6.
Securities Acquired (A) Amount of Owner-
3. or Disposed of (D) Securities ship
Trans- (Instr. 3, 4 and 5) Benefi- Form: 7.
2. action ----------------------- cially Direct Nature of
1. Transaction Code Owned at End (D) or Indirect
Title of Security Date (Instr. 8) (A) or Month Indirect Beneficial
(Instr. 3) (Month/ ---------- or (Instr. 3 (I) Ownership
Day/Year) Code V Amount (D) Price and 4) (Instr.4) (Instr. 4)
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Common Stock 8/22/02 X 14,000 A 7.75
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Common Stock 8/22/02 P 1,000 A 14.56
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Common Stock 8/22/02 P 100 A 14.64
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Common Stock 8/22/02 P 600 A 14.62
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Common Stock 8/22/02 P 1800 A 14.65
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118,159 D
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105,053 1 (1)
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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
5(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 Number.
(Over)
SEC 1474 (3-99)
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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10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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Employee Stock Common
Option(right to buy)Exercise 8/22/02 X 14,000 (2) 12/16/09 Stock 14,000 7.75(3) 498,964 D
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Explanation of Responses:
(1) 89,480 are held by his spouse, 10,382 shares are held by his daughters (each
daughter holding 5,191 shares) and 5,191 shares are held by his son.
(2) The option is subject to the vesting schedule set forth in the Amended and
Restated Cross Country, Inc. 1999 Equity Participation Plan. The option is
immediately exercisable as to 320,434 shares. The option will be exercisable as
to 384,521 shares as of December 16, 2002, 448,607 shares as of June 16, 2003
and 512,964 shares as of December 16, 2003. After this transaction, the option
will be immediately exercisable as to 306,434 shares and will be exercisable as
to 370,521 shares as of December 16, 2002, 434,607 shares as of June 16, 2003
and 498,964 shares as of December 16, 2003.
(3) Pursuant to the Amended and Restated Cross Country, Inc. 1999 Equity
Participation Plan, the first tranche of 91,745 shares will be exercisable at
$7.75 per share, the second tranche of 172,697 shares will be exercisable at
$11.62 per share, the third tranche of 172,697 shares will be exercisable at
$15.50 per share, the fourth tranche of 37,777 shares will be exercisable at
$19.37 per share and the remaining tranche of 37,778 shares will be exercisable
at $23.25 per share. After this transaction the first tranche will be reduced by
14,000 shares to 77,745 shares, which shares will be exercisable at $7.75 per
share and the remainder of the tranches will be exercisable in the amounts and
at the prices described above.
Joseph A. Boshart
/s/ Joseph A. Boshart 8/23/02
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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.
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.