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UNITED STATES SECURITIES AND OMB APPROVAL
EXCHANGE COMMISSION -------------------------
FORM 4 Washington, D.C. 20549 OMB Number:.3235-0287
Expires:.January 31, 2005
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Estimated average burden
hours per response:...0.5
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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
|X| 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 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person(s) to Issuer
Person*
Agway Inc. (1) Planet Polymer Technologies, Inc. (POLY) (Check all applicable)
Director X 10% Owner
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Officer (give title Other (specify
---- below) ---- below)
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(Last) (First) (Middle) 3. IRS or Social 4. Statement for 7. Individual or Joint/Group Filing (Check
Security Number of Month/Date/Year applicable line)
333 Butternut Drive Reporting Person 4/23/03 X(1) Form filed by One Reporting Person
(Voluntary) ----
Form filed by More than One Reporting
15-0277720 Person
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(Street)
5. If Amendment,
Date of Original
(Month/Year)
DeWitt, New York 13214 N/A
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(City) (State) (Zip)
Table 1 - Non-Derivative Securities Acquired, Disposed of, or
Beneficially Owned
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1. Title of 2. Transac- 2A. Deemed 3. Transaction 4. Securities 5. Amount of 6.Ownership 7. Nature
Security tion Date Execution Code Acquired (A) Securities Form: of
(Instr. 3) (Month/ Date, if (Instr. 8) or Disposed Beneficially Direct (D) Indirect
Day/ Year) any of (D) Owned or Benefitial
(Month/ (Instr. 3, Following Indirect (I) Ownership
Day/ Year) 4 and 5) Reported (Instr. 4) Instr. 4)
Transaction(s)
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Code V Amount (A) Price and 4)
or
(D)
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Common Stock, 4/23/03 J (2) 3,000,000 D (2) 0 D (1)
No Par Value
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Reminder: Report on a separate line for each class of securities (Over)
beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person,
see Instruction 4(b)(v). SEC 1474 (9-02)
Form 4 Table II - Derivative Securities Acquired, Disposed of,
(continued) or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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1.Title 2.Conversion 3.Transac- 3A.Deemed 4.Transac- 5.Number 6.Date 7.Title 8.Price 9.Number 10.Ownership 11.Nature
of or Exercise tion Execution tion of Excer- and of of Form of of
Derivative Price of Date Date, Code Derivative ciseable Amount Deriva- Deriva- Derivative Indirect
Security Derivative (Month/ if any (Instr.8) Securities and of tive tive Security: Benefit-
(Instr. 3) Security Day/ (Month/ Acquired Expira- Underlying Security Secuties Direct (D) ial
Year) Day/ (A) or tion Securities (Instr. Benefic- or Owner-
Year) Disposed Date (Inst. 3 5) ially Indirect (I) ship
of (D) (Month/ and 4) Owned at (Instr. 4) (Instr.
(Instr.3, Day/ End of 4)
4 and 5) Year) Month
(Instr. 4)
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Code V (A) (D) Date Expir- Title Amount
Exerc- ation or
isable Date Number
of
Shares
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/s/ Peter J. O'Neill April 25, 2003
Senior VP of Agway Inc
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** Signature of Reporting Person Date
Page 2
SEC 1474 (9-02)
(1) A Form 3 was originally filed on behalf of Agway Inc., a Delaware
corporation ("Agway") and two of its wholly owned subsidiaries, Agway
Financial Corporatiaon, a Delaware corporation and wholly owned subsidiary
of Agway ("AFC"), and Agway Holdings Inc., a Delaware corporation and
wholly owned subsidiary of AFC ("AHI"). Effective July 1, 2001, the Agway
corporate structure was simplified by merging AFC and AHI into Agway. Agway
assumed all the assets and liabilities of AFC and AHI, including the
securities to which this report relates. Agway is hereinafter referred to
individually as the "Reporting Person."
(2) Agway entered into a Sale and Licensing Agreement for certain technology in
connection with animal feed, fertilizer and related products effective as
of March 31, 2003 with PLANET POLYMER TECHNOLOGIES, INC. ("Planet"). As
partial consideration for Planet's execution of this Agreement, Agway
agreed to assign and transfer to Planet 3,000,000 shares of capital stock
of Planet, representing all of the capital stock of Planet directly or
indirectly owned by Agway (the "Planet Shares"), by delivering to Planet
the share certificates representing such shares together with an Assignment
Separate From Certificate. The Planet Shares are delivered to Planet free
and clear of all liens and encumbrances.
** 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 Number.