F O R M 4 U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 [ ] Check this box if OMB APPROVAL no longer subject OMB Number 3235-0287 to Section 16, Form 4 Expires: December 31, 2001 or Form 5 obligations may Estimated ave. burden continue. See Instructin 1(b) hours per response 0.5 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 1940 -------------------------------------------------------------------------------- 1.Name and Address of 2.Issuer Name and Ticker 6.Relationship of Reporting Reporting Person* or Trading Symbol Person to Issuer (check all Applicable) The Hallwood Group Incorporated ("HWG") Gumbiner, Anthony J. October, 2001 X Director 10% Owner --------------------------------------- ----------------------- ----------------- --- --- (Last) (First) (MI) 3.IRS or Soc.Sec.No. 4.Statement for X Officer Other of Reporting Person Month/Year --- --- (Voluntary) (Give title (specify below) below) c/o Le Roccabella 24 Princess Grace Ave. Chairman, President & CEO --------------------------------------------------------- ------------------------------- (Street) ---------------- 5.If Amendment, 7.Individual or Joint/Group Date of Original Filing (Check Applicable Monte Carlo 98000, Monaco (Month/Year) Line) -------------------------------------------------------- (City) (State) (Zip) 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 -------------------------------------------------------------------------------- 1. Title of Security 2. Transaction 3. Transaction 4. Security Acquired (A) (Inst.3) Date Code or Disposed of (D) (Month/ (Instr.8) (Inst.3, 4 & 5) Day/Yr) _________________________________________ (A) Code V Amount (D) Price ----------------------------------------- ------------------- ------- ----- ---------------- ---- --------- ----------------------------------------- ------------------- ------- ----- ---------------- ---- --------- ----------------------------------------- ------------------- ------- ----- ---------------- ---- --------- ----------------------------------------- ------------------- ------- ----- ---------------- ---- --------- ----------------------------------------- ------------------- ------- ----- ---------------- ---- --------- ----------------------------------------- ------------------- ------- ----- ---------------- ---- --------- 5. Amount of Securities 6. Ownership Form 7. Nature of Indirect Beneficially Owned at Direct (D) or Beneficial Ownership at End of Month Indirect (I) (Inst. 4) (Inst. 3 & 4) (1) --------------------------------------- ------------------------------ ----------------------------- --------------------------------------- ------------------------------ ----------------------------- --------------------------------------- ------------------------------ ----------------------------- --------------------------------------- ------------------------------ ----------------------------- --------------------------------------- ------------------------------ ----------------------------- Reminder: Report on a separate line for each class securities owned directly or indirectly. *If the form is filed by more than one reporting person, see Instruction 4(b)(v). Page 1 FORM 4 (continued) Page 2 -------------------------------------------------------------------------------- Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible security) -------------------------------------------------------------------------------- 1. Title of 2. Conversion 3. Transaction 4. Transaction Derivative or Exercise Date (Month Code Security Price of (Day/Year) (Instr. 8) (Instr.3) Derivative Security Code V Option to Purchase Common Stock $10.31 5/19/00 A ------------------------------------------ -------------------- ---------------- --------------- ------------------------------------------ -------------------- ---------------- --------------- ------------------------------------------ -------------------- ---------------- --------------- ------------------------------------------ -------------------- ---------------- --------------- ------------------------------------------ -------------------- ---------------- --------------- ------------------------------------------ -------------------- ---------------- --------------- 5. Number of Derivative 6. Date Exercisable 7. Title & Amount of Securities Acquired & Expiration Date Underlying Securities (A) or Disposed of (D) (Mon./Day/Year) (Inst. 3 & 4) (Instr. 3, 4 & 5) ------------------------------------------------------------------------------------------------------------------- (A) (D) Date Expiration Title Amount or number Exercisable Date of Shares 66,300 Immed. 5/19/10 Common Stock 66,300 ----------------- ----------------- ------------ ------------- -------------- ----------------- ----------------- ----------------- ------------ ------------- -------------- ----------------- ----------------- ----------------- ------------ ------------- -------------- ----------------- ----------------- ----------------- ------------ ------------- -------------- ----------------- 8. Price of Derivative 9. Number of Derivative Securities 10. Ownership Form of 11. Nature of Indirect Security (Inst.5) Beneficially Owned at end of Derivative Security Beneficial Month (Instr. 4) Direct (D) or Ownership (Instr.4) Indirect (I) (Instr.4) N/A 150,000 D ----------------------- ----------------------------------- -------------------------- -------------------------------- ----------------------- ----------------------------------- -------------------------- -------------------------------- ----------------------- ----------------------------------- -------------------------- -------------------------------- ----------------------- ----------------------------------- -------------------------- -------------------------------- (1) Mr. Gumbiner is the principal officer and director of Hallwood Investments Limited ("HIL"), organized in the Jersey Islands. HIL is wholly owned by the Alpha Trust (the "Trust"), a trust organized in Switzerland. Mr. Gumbiner is a discretionary beneficiary of the Trust and has the power to remove the trustee of the Trust. The Trust, through HIL, owns 790,087 shares of common stock of The Hallwood Group Incorporated and has the right to purchase 343,949 shares of common stock upon conversion of certain convertible promissory notes. /s/ Anthony J. Gumbiner 11/8/01 **Intentional misstatements or omissions of facts constitute Federal ------------------------------------------ Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Anthony J. Gumbiner Date Potential persons who are to respond to the collections of information contained in this form are not required to respond unless the form displays a currently valid OMD Number. Page: 2 of 2