FORM 4
U.S. SECURITIES AND EXCHANGE COMMISSION
FORM 4 Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
| | Check this box if no longer subject
to Section 16. Form 4 or Form 5
obligations may continue. See
Instruction 1(b).
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
(Print or Type Responses)
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1. Name and Address of Reporting Person*/ 2. Issuer Name and / 6. Relationship of Reporting
/ Ticker or Trading Symbol / Person(s) to Issuer
/ / (Check all applicable)
/ ITEX Corporation / X Director --- 10% Owner
Calvitti, Daniela / ("ITEX") / X Officer --- Other
/ / (give title below) (specify below)
(Last) (First) (Middle) / / Chief Financial Officer
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/ 3. I.R.S. 4. Statement for /
/ Identification (Month/Year) /
/ Number of Reporting /
/ Person, if an 01/2002 /
----------------------------------------/ Entity -----------------/
/ (Voluntary) /
/ /
c/o ITEX Corporation / -- / 7. Individual or Joint/Group Filing
3400 Cottage Way / 5. If Amendment, / (Check Applicable Line)
--------------------------------------- / Date of Original / X Form filed by one Reporting Person
(Street) / (Month/Year) / --- Form filed by More than One
/ / Reporting Person
/ --------------------------------------/
Sacramento, CA 95825 / /
--------------------------------------- / /
(City) (State) (Zip) / /
/ /
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TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR
BENEFICIALLY OWNED
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1. Title / 2. Transaction / 3. Transaction / 4. Securities Acquired (A) / 5. Amount of / /
of / Date / Code / or Disposed (D)(Instr.3,4,and 5) / Securities / 6. Ownership / 7.Nature of
Security / (Mo/Day/Yr) / (Instr. 8) / / Beneficially Owned / Form: Direct/ Indirect
(Inst.3) / / ---------------------------------------------------/ at End of Month / (D) or / Beneficial
/ / Code / V / Amount / (A) or (D) / Price / (Instr. 3 / Indirect(I) / Ownership
/ / / / / / / and 4 / (Instr.4) / (Instr.4)
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Common 01/17/02 A 62,500 A $.09 106,250 D N/A
Stock
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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 4(b)(v).
2
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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Title / Conversion/ Trans- / Trans- / Nature of / Date / Title /Price of / Number / Ownership / Nature of
of / of / action / action / Derivative/ Exercisable / and / Deriv- / of / Form of / Indirect
Derivative/ Exercise / Date / Code / Securities/ and / Amount / ative / Deriv- / Derivative / Beneficial
Security / Price of / (Mo./ / (Instr./ Aquired(A)/ Expiration / of / Secur- / ative / Security: / Ownership
(Instr. 3)/ Derivative/ Day/ / 8) / Disposed / Date / Under- / ity / Securi-/ Direct (D) / (Instr.4)
/ Security / Year) / / of (D) / (Month / lying / / ties / or Indirect/
/ / / / (Instr. 3,/ Day/ year) / Securities / /Benefic-/ (Instr. 4) /
/ / / / 4 and 5) / / (Instr. 3 / /ally / /
/ / / / / / and 4) / /Owned at/ /
/ / /------------------------------------------------------/ /end of / /
/ / /Code/ V / (A) /(D)/ Date / Expir-/ Title /Amount / / Month / /
/ / / / / / / Exer- / ation / / of / / Instr. / /
/ / / / / / / cisable/ Date / /shares / / 4 / /
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Options $.09 01/17/02 A V 175,000 *(1) 01/17/07 Common 175,000 ---- 275,000 D N/A
to Stock
Purchase
Common
Stock
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Explanation of Responses:
*(1) 43,750 vests 01/17/02
43,750 vests 01/17/03
43,750 vests 01/17/04
43,750 vests 01/17/05
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
/S/ DANIELA CALVITTI 2/8/02
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Daniella Calvitti
**Signature of Reporting Person
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.