FORM 4
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
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(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*/ 2. Issuer Name and Ticker or Trading / 6. Relationship of Reporting Person(s) to Issuer
/ Symbol / (Check all applicable)
/ /
/ / X Director X 10% Owner
/ Digital Power Corporation (AMEX:DPW) / X Officer ___ Other
/ / (give title below) (specify below)
/ /
Diamant, Ben-Zion / / Chairman of the Board
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(Last) (First) (Middle) / 3. IRS Identification/ 4. Statement for / 7. Individual or Joint/Group Filing
/ Number of / (Month/Day/Year) / (Check Applicable Line)
/ Reporting Person, / /
41920 Christy Street / if an entity / 3/31/03 / X Form filed by One Reporting Person
----------------------------------------/ (Voluntary) /------------------/
(Street) / / 5. If Amendment, / ___ Form filed by More than One Reporting
/ / Date of Original / Person
/ / (Month/Day/Year) /
Fremont, CA 94538 / / /
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(City) (State) (Zip) / / /
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TABLE I - NONDERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title /2.Trans- /2A. Deemed /3.Transaction/4. Securities Acquired (A) or /5. Amount of /6. Ownership / 7. Nature of
of / action / Execution/ Code / Disposed of (D) (Instr. 3, / Securities / Form: / Indirect
Security / Date / Date, if / Instr. 8) / 4 and 5) / Beneficially/ Direct (D)/ Beneficial
(Inst.3) /(Mo/Day/Yr)/ any / / / Owned / or / Ownership
/ / (Mo/Day/Yr) /------------------------------------------------/ Following / Indirect /
/ / / Code / V / Amount /(A) or (D)/ Price / Reported / (I) / (Instr. 4)
/ / / / / / / / Trans- / /
/ / / / / / / / action(s) / (Instr.4) /
/ / / / / / / /(Inst. 3 & 4)/ /
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Common Stock 3/31/03 P 900,000 A $0.666 2,150,000 I N/A
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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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1. / 2. /3. /3A. Deemed/4.Trans-/5. Number of/6. Date /7. Title and /8. /9. /10. /11.
Title of / Con- / Trans-/ Execution/ action / Derivative / Exercisable / Amount of / Price / Number / Owner- /Nature
Derivative / version / action / Date, if / Code / Securities / and Expiration / Underlying / of / of / ship /of
Security / or / Date / any / / Acquired / Date / Securities / Deriv- / Deriv- / Form of/In-
(Instr. 3) / Exercise/ (Month// (Month/ /(Inst.8)/ (A) or / / / ative / ative / Deriv- /direct
/ Price of/ Day/ / Day/ / / Disposed of/(Month/Day/Year)/(Instr. 3 & 4) / Secu- / Secu- / ative /Bene-
/ of / Year) / Year) / / (D) / / / rity / rities / Secu- /ficial
/ Deriv- / / / / / / / / Benefi-/ rities /Owner-
/ ative / / / /(Inst.3,4,5)/ / /(Inst.4)/ cially / Benefi-/ship
/ Secu- / / /--------/------------/----------------/---------------/ / Owned / cially /
/ rity / / /Code/ V / (A) / (D) / Date / Expir-/ Title /Amount / /Follow- / Owned /(Inst.
/ / / / / / / / Exer- / ation / / or / /ing / / 4)
/ / / / / / / / cisable/ Date / /No. of / /Reported/(Inst.4)/
/ / / / / / / / / / /Shares / /Trans- / /
/ / / / / / / / / / / /actions / /
/ / / / / / / / / / / /(Inst.4)/ /
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Options to 200,000 D N/A
Purchase
Stock
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Warrants to - 3/31/03 J(2) 900,000 11/13/01 5/23/03 Common 900,000 - 1,000,000 I Owned
Purchase Stock by
Stock Telkoor
Telecom
Ltd.(1)
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Explanation of Responses:
(1) Mr. Diamant is Chairman of the Board of Telkoor Telecom Ltd. He owns 42.45% of the shares of Telkoor Telecom Ltd. Mr. Diamant
disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.
(2) Cancellation of a long derivative position, with no value received (exempt pursuant to Rule 16b-6(d)).
/S/ Ben-Zion Diamant 4/1/03
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Ben-Zion Diamant Date
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.