OMB APPROVAL OMB NUMBER 3235-0287 EXPIRES: JANUARY 31, 2005 ESTIMATED AVERAGE BURDEN HOURS PER RESPONSE 0.5 U.S. SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 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* Burstein Lawrence S. -------------------------------------------------------------------------------- (Last) (First) (Middle) c/o I.D. Systems, Inc. One University Place -------------------------------------------------------------------------------- (Street) Hackensack NJ 07601 -------------------------------------------------------------------------------- (City) (State) (Zip) ________________________________________________________________________________ 2. Issuer Name and Ticker or Trading Symbol I.D. Systems, Inc. (IDSY) ________________________________________________________________________________ 3. IRS Identification Number of Reporting Person, if an Entity (Voluntary) ________________________________________________________________________________ 4. Statement for Month/Day/Year 10/1/02 ________________________________________________________________________________ 5. If Amendment, Date of Original (Month/Day/Year) ________________________________________________________________________________ 6. Relationship of Reporting Person to Issuer (Check all applicable) [X] Director [ ] 10% Owner [ ] Officer (give title below) [ ] Other (specify below) ________________________________________________________________________________ 7. Individual or Joint/Group Filing (Check applicable line) [X] Form filed by one Reporting Person [ ] Form filed by more than one Reporting Person ________________________________________________________________________________ ================================================================================ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned ================================================================================ 5. 6. 4. Amount of Owner- Securities Acquired (A) Securities ship 3. or Disposed of (D) Beneficially Form: 7. Transaction (Instr. 3, 4 and 5) Owned Follow- Direct Nature of 2. 2A. Deemed Code ------------------------------ ing Reported (D) or Indirect 1. Transaction Execution (Instr. 8) (A) Transaction(s)Indirect Beneficial Title of Security Date Date, if any ------------ Amount or Price (Instr. 3 (I) Ownership (Instr. 3) (mm/dd/yy) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4) ----------------------------------------------------------------------------------------------------------------------------------- =================================================================================================================================== (Over) FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ============================================================================== 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. 3A. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct Price Trans- Deemed action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene- 1. of action Execut- Code of(D) (Month/Day/Year) Amount ative at End In- ficial Title of Deriv- Date ion date,(Instr. (Instr. 3, ---------------- or Secur- of direct Owner- Derivative ative (Month/ if any 8) 4 and 5) Date Expira- Number ity Month (I) ship Security Secur- Day/ (Month/Day/------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) ----------------------------------------------------------------------------------------------------------------------------------- Options Common (Right to Buy) $4.07 10/1/02 A 5,000 (1) 10/1/12 Stock 5,000 - 5,000 D =================================================================================================================================== Explanation of Responses: (1) Exercisable on a cumulative monthly basis over a four year period beginning November 1, 2002. /s/ Lawrence S. Burstein 1/3/03 ----------------------------------- ------------- ** Signature of Reporting Person Date Lawrence S. Burstein 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). ** 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. Page 2