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------ U.S. SECURITIES AND EXCHANGE COMMISSION ------------------------------
FORM 4 WASHINGTON, D.C. 20549 OMB APPROVAL
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STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB Number: 3235-0287
[ ] Check box if no Expires: December 31, 2001
longer subject to Filed pursuant to Section 16(a) of the Securities Estimated average burden
Section 16. Form 4 Exchange Act of 1934, Section 17(a) of the hours per response.........0.5
or Form 5 obligations Public Utility Holding Company Act of 1935 ------------------------------
may continue. See or Section 30(f) of the Investment Company
Instruction 1(b). Act of 1940
(Please Print or Type Responses)
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1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person to
CYPRES GARY M. Hispanic Express, Inc. (HXPR) Issuer (Check all applicable)
--------------------------------------------- ---------------------------------------------- X Director X 10% Owner
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- ---
5480 East Ferguson Drive Number of Reporting Month/Year X Officer (give Other (Specify
--------------------------------------------- Person (Voluntary) February, 2001 ---- title --- below)
(Street) ------------------ below)
Commerce, CA 90022 5. If Amendment, Chairman of the Board, Chief
--------------------------------------------- -------------------------- Date of Original Executive Officer, Chief
(City) (State) (Zip) (Month/Year) Financial Officer, Secretary
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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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1. Title of Security 2. Trans- 3. Transac- 4. Securities Acquired (A) 5. Amount of Se- 6. Owner- 7. Nature
(Instr. 3) action tion or Disposed of (D) curities Benefi- ship of In-
Date Code (Instr. 3, 4 and 5) cially Owned at Form: direct
(Instr. 8) End of Month Direct Benefi-
(Month/ (Instr. 3 and 4) (D) or cial
Day/ --------------------------------------- Indirect Owner-
Year) Code V Amount (A) or Price (I) ship
(D) (Instr. 4) (Instr. 4)
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Common Stock 2/28/01 J(2) 5,150,000 A (2) 5,150,000 I (1)
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Common Stock 2/28/01 J(2) 77,500 A (2) 77,500 D
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Common Stock 2/28/01 J(2) 12,500 A (2) 12,500 I By wife
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Common Stock 2/28/01 J(2) 12,500 A (2) 12,500 I In trust
for children
by Mr. Cypres
and wife
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Note (1) - Consists of 5,150,000 shares owned by West Coast Private Equity Partners, L.P., Wells Fargo & Company and WCEP Pte.
Ltd., for which Mr. Cypres has voting power.
Note (2) - Received as a result of a pro rata distribution pursuant to the spin off of the issuer from its predecessor parent
company.
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v). SEC 1474 (3-99)
SEC 1474 (Over)
(3/99)
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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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1. Title of Derivative 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date Exer- 7. Title and Amount 8. Price
Security sion or action action Derivative cisable and of Underlying of
(Instr. 3) Exercise Date Code Securities Expiration Securities Deriv-
Price of (Instr. Acquired (A) Date (Instr. 3 and 4) ative
Deriv- (Month/ 8) or Disposed (Month/Day/ Secur-
ative Day/ of (D) (Instr. Year) ity
Security Year) 3, 4, and 5) (Instr. 5)
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Date Expira- Amount or
-------------------------- Exer- tion Title Number of
Code V (A) (D) cisable Date Shares
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Stock Option (right to buy) $1.53 per 2/28/01 A 395,000 2/28/01 2/28/11 Common 395,000
share (1) (1) Stock
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9. Number of 10. Ownership 11. Nature of
Derivative Form of Indirect
Securities Derivative Beneficial
Beneficially Security: Ownership
Owned at End Direct (D) (Instr. 4)
of Month or Indirect (I)
(Instr. 4) (Instr. 4)
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395,000 D
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Explanation of Responses:
(1) Of the 395,000 options granted, 237,000 options were vested and immediately exercisable as of 2/28/01. The remaining 158,000
options will vest in equal installments over a five-year period.
*** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. /s/ Gary M. Cypres March 8, 2001
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a) ------------------------------- ---------------
**Signature of Reporting Person Date
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.
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