- ------------ U.S. SECURITIES AND EXCHANGE COMMISSION ---------------------------
|F O R M 4 | Washington, D.C. 20549 | OMB APPROVAL |
- ------------ ---------------------------
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |OMB Number 3235-0287|
[ ] Check this box if |Expires: September 30, 1998|
no longer subject Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, |Estimated average burden |
to Section 16. Section 17(a) of the Public Utility Holding Company Act of 1935 or | hours per response....0.5 |
Section 30(f) of the Investment Company Act of 1940 - -------------------------
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|1. Name & Address of Reporting Person |2.Issuer Name & Ticker or Trading Symbol |6. Relationship of Reporting Person to Issuer|
| | | (Check all Applicable) |
| Regan, Jr. Hugh T. | inTEST Corporation (INTT) | |
| | | Director 10% Owner |
|---------------------------------------|--------------------------------------------| --- --- |
| (Last) (First) (MI) |3.IRS or Soc. Sec. No.|4. Statement for | X Officer Other |
| | of Reporting Person | Month/Year | --- (Give title below) --- (Specify below)|
| c/o inTEST Corporation | (Voluntary) | | Treasurer and CFO |
| 2 Pin Oak Lane | | June 1998 | ----------------- |
|---------------------------------------| |---------------------|---------------------------------------------|
| (Street) | |5. If Amendment, |7. Individual or Joint/Group Filing |
| | | Date of | (Check Applicable Line) |
| | | Original | |
| | | (Month/Year) | X Form filed by One Reporting Person |
| | | | --- |
| | | | Form filed by More than One Reporting |
| Cherry Hill NJ 08003 | | | --- Person |
|---------------------------------------|----------------------|---------------------|---------------------------------------------|
| (City) (State) (Zip) |
| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
|----------------------------------------------------------------------------------------------------------------------------------|
|1.Title of Security |2.Transaction |3.Transaction|4.Securities Acquired (A) |5.Amount of |6.Ownership |7. Nature of Indirect |
| (Instr. 3) | Date (M/D/Y)| Code | or Disposed of (D) | Securities | Form: | Beneficial Ownership|
| | | (Instr. 8) | (Inst. 3, 4 and 5) | Beneficially | Direct (D)| Ownership |
| | |-------------|--------------------------| Owned at End | or In- | (Instr. 4) |
| | | | |(A)| | of Month | direct(I) | |
| | | Code | V | Amount |(D)| Price | Instr. 3 & 4)| (Instr. 4)| |
|---------------------|--------------|--------|----|------------|---|---------|---------------|------------|-----------------------|
| | | | | || | | | |
| | | | | | | | | | |
|---------------------|--------------|--------|----|------------|---|---------|---------------|------------|-----------------------|
| | | | | | | | | | |
|---------------------|--------------|--------|----|------------|---|---------|---------------|------------|-----------------------|
| | | | | | | | | | |
|---------------------|--------------|--------|----|------------|---|---------|---------------|------------|-----------------------|
| | | | | | | | | | |
|---------------------|--------------|--------|----|------------|---|---------|---------------|------------|-----------------------|
| | | | | | | | | | |
|---------------------|--------------|--------|----|------------|---|---------|---------------|------------|-----------------------|
| | | | | | | | | | |
|---------------------|--------------|--------|----|------------|---|---------|---------------|------------|-----------------------|
Reminder: Report on a separate line for each class securities owned directly or
indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
- ----------------------------------------------------------------------------------------------------------------------------------
|1.Title of |2.Conver- |3.Trans-|4.Trans-|5. Number of |6. Date Exer-|7.Title & Amount |8.Price of |9. # of |10.Owner-|11.Nature|
| Derivative| sion or | action | action| Derivative | cisable and| of Underlying | Derivative|Derivative| ship | of In- |
| Security | Exercise | Date | Code | Securities | Expiration | Securities | Security |Securities| Form of| direct |
| (Instr. 3)| Price of | (M/D/Y)|(Inst.8)| Acquired | Date(M/D/Y)| (Instr. 3 and 4)| (Instr. 5)|Benefi- | Deriva- | Benefi-|
| |Derivative| | | (A) or Dis- |-------------|-----------------| |cially | tive | cial |
| |Security | | | posed of(D) |Date | | |Amount | |Owned at | Security| Owner- |
| | | |--------|-------------|Exer-| Expir-| |or Num- | |End of | Direct | ship |
| | | | | | | |cisa-| ation | |ber of | |Month | (D) or |(Instr 4)|
| | | |Code| V | (A) | (D) | ble | Date |Title |Shares | |Instr. 4) |(Instr.4)| |
|------------|----------|--------|----|---|------|------|-----|-------|--------|--------|-----------|----------|---------|---------|
| | | | || | | | | | | | | | |
|Employee | | | | | | | | | | | | | | |
|Stock Option| $7.50 |6/30/98 | D* | V | |30,000| * |6/16/07|Common | 30,000 | | | | |
|(Registered | | | | | | | | |Stock | | | | | |
| to Buy) | | | | | | | | | | | | | | |
|------------|----------|--------|----|---|------|------|-----|-------|--------|--------|-----------|----------|---------|---------|
|Employee | | | | | | | | | | | | | | |
|Stock Option| $6.00 |6/30/98 | A* | V |30,000| | * |6/16/07|Common | 30,000 | | 30,000 | D | |
|(Registered | | | | | | | | |Stock | | | | | |
| to Buy) | | | | | | | | | | | | | | |
|------------|----------|--------|----|---|------|------|-----|-------|--------|--------|-----------|----------|---------|---------|
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
|------------|----------|--------|----|---|------|------|-----|-------|--------|--------|-----------|----------|---------|---------|
Explanation of Responses:
* Deemed cancellation of existing option and deemed grant of new option
resulting from the repricing of existing option which was originally
granted on 6/17/97 and which provided for vesting in five equal
annual installments commencing 6/17/98. The vesting terms were not
amended
/s/Hugh T. Regan, Jr. 8/10/98
- ------------------------------------------ --------------
** 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 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.
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