UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
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 Instructions 1(b).
1. Name and Address of Reporting Person
Rosenfeld, Eric
c/o Crescendo Partners II LP Series L
350 Park Avenue
4th Floor
New York, NY 10022
USA
2. Issuer Name and Ticker or Trading Symbol
CPI Aerostructures, Inc.
CVU
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
April 1, 2003
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director (X) 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
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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Common Stock, $.001 par val|-- |-- |-|-- |-- |-- |46,000 |D(1) |-- |
ue | | |-| | | | | | |
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Common Stock, $.001 par val|-- |-- |-|-- |-- |-- |873,334(2) |I |(2) |
ue | | |-| | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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Option to purchase com|$6.45 |4/1/0|A |-|5,000 -- |A,D|4/1/0|3/31/|Common Stock|5,000 |$6.45 |5,000 |D | |
mon stock | |3 | |-| | |3 |08 | | | | | | |
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Explanation of Responses:
(1) Held as joint tenant with Reporting Person's
wife.
(2) Held by Crescendo Partners II, L.P. Series L. Reporting Person is the
manager of the sole general partner of Crescendo Partners II, L.P. Series L.
Reporting Person disclaims beneficial ownership of these securities except to
the extent of his pecuniary interest therein.
SIGNATURE OF REPORTING PERSON
/s/ Eric Rosenfeld
DATE
April 2, 2003