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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).
(Print or Type Responses)
________________________________________________________________________________
1. Name and Address of Reporting Person*
Blackstone Management Associates III L.L.C.
- --------------------------------------------------------------------------------
(Last) (First) (Middle)
345 Park Avenue, 31st Floor
- --------------------------------------------------------------------------------
(Street)
New York, New York 10154
- --------------------------------------------------------------------------------
(City) (State) (Zip)
________________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
Sirius Satellite Radio Inc. Symbol: SIRI
________________________________________________________________________________
3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
________________________________________________________________________________
4. Statement for Month/Day/Year
March 7, 2003
________________________________________________________________________________
5. If Amendment, Date of Original (Month/Day/Year)
January 31, 2000
________________________________________________________________________________
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
_______________________________________________________________________________
7. Individual or Joint/Group Filing (Check applicable line)
[_] Form filed by one Reporting Person
[X] Form filed by more than one Reporting Person
_______________________________________________________________________________
===============================================================================
Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
===============================================================================
2A.
Deemed 4.
Execu- Securities Acquired (A)
2. tion 3. or Disposed of (D)
Transaction Date, Transaction (Instr. 3, 4 and 5)
Date if any Code ------------------------------------
1. (Month/ (Month/ (Instr. 8) (A)
Title of Security Day/ Day/ ------------ Amount or Price
(Instr. 3) Year) Year) Code V (D)
- ------------------------------------------------------------------------------------------------
Common Stock 3/7/03 P 19,103,771 A $19,849,912
- -------------------------------------------------------------------------------------------------
Common Stock 3/7/03 P 3,456,343 A $3,591,338
- -------------------------------------------------------------------------------------------------
Common Stock 3/7/03 P 1,440,007 A $1,496,250
- -------------------------------------------------------------------------------------------------
J (See
Common Stock 3/7/03 (4)) 29,429,517 A See (4)
- -------------------------------------------------------------------------------------------------
J (See
Common Stock 3/7/03 (4)) 5,324,545 A See (4)
- -------------------------------------------------------------------------------------------------
J (See
Common Stock 3/7/03 (4)) 2,218,344 A See (4)
- -------------------------------------------------------------------------------------------------
5.
Amount of 6.
Securities Owner-
Beneficially ship
Owned Form: 7.
Following Direct Nature of
Reported (D) or Indirect
Transaction(5) Indirect Beneficial
(Instr. 3 (I) Ownership
and 4) (Instr.4) (Instr. 4)
- ------------ ---------- ----------
1 See (1)
- ----------------------------------------
1 See (2)
- ----------------------------------------
1 See (3)
- ----------------------------------------
48,533,288 1 See (1)
- ----------------------------------------
8,780,888 1 See (2)
- ----------------------------------------
3,658,351 1 See (3)
- ----------------------------------------
==============================================================================
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).
(Over)
SEC 1474 (3-99)
Page 1 of 5
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
==============================================================================
2.
Conver- 5.
sion Number of
or Derivative
Exer- 4. Securities
cise 3. Trans- Acquired (A)
Price Trans- action or Disposed
1. of action Code of(D)
Title of Deriv- Date (Instr. (Instr. 3,
Derivative ative (Month/ 8) 4 and 5)
Security Secur- Day/ ------ ------------------------
(Instr. 3) ity Year) Code V (A) (D)
- -----------------------------------------------------------------------
Warrant $1.04 3/7/03 J (See 20,085,138
(4))
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Warrant $1.04 3/7/03 J (See 3,633,896
(4))
- -----------------------------------------------------------------------
Warrant $1.04 3/7/03 J (See 1,513,981
(4))
- -----------------------------------------------------------------------
Warrant $0.92 3/7/03 J (See 13,390,091
(4))
- -----------------------------------------------------------------------
Warrant $0.92 3/7/03 J (See 2,422,597
(4))
- -----------------------------------------------------------------------
Warrant $0.92 3/7/03 J (See 1,009,321
(4))
- -----------------------------------------------------------------------
Preferred Stock 3/7/03 J (See 2,031,562
(4))
- -----------------------------------------------------------------------
Preferred Stock 3/7/03 J (See 367,561
(4))
- -----------------------------------------------------------------------
Preferred Stock 3/7/03 J (See 153,136
(4))
- -----------------------------------------------------------------------
- -----------------------------------------------------------------------
10.
9. Owner-
Number ship
of Form
Deriv- of
7. ative Deriv- 11.
Title and Amount Secur- ative Nature
6. of Underlying 8. ities Secur- of
Date Securities Price Bene- ity: In-
Exercisable and (Instr. 3 and 4) of ficially Direct direct
Expiration Date ---------------- Deriv- Owned (D) or Bene-
(Month/Day/Year) Amount ative Following In- ficial
- ---------------- or Secur- Reported direct Owner-
Date Expira- Number ity Transactions (I) ship
Exer- tion of (Instr. (Instr. (Instr. (Instr.
cisable Date Title Shares 5) 4) 4) 4)
- -------------------------------------------------------------------------------
3/7/03 3/7/05 Common 20,085,138 See (4) 20,085,138 1 See (1)
Stock
- --------------------------------------------------------------------------------
3/7/03 3/7/05 Common 3,633,896 See (4) 3,633,896 1 See (2)
Stock
- --------------------------------------------------------------------------------
3/7/03 3/7/05 Common 1,513,981 See (4) 1,513,981 1 See (3)
Stock
- --------------------------------------------------------------------------------
3/7/03 3/7/05 Common 13,390,091 See (4) 13,390,091 1 See (1)
Stock
- --------------------------------------------------------------------------------
3/7/03 3/7/05 Common 2,422,597 See (4) 2,422,597 1 See (2)
Stock
- --------------------------------------------------------------------------------
3/7/03 3/7/05 Common 1,009,321 See (4) 1,009,321 1 See (3)
Stock
- --------------------------------------------------------------------------------
Common 5,972,792 0 1 See (1)
Stock
- --------------------------------------------------------------------------------
Common 1,080,629 0 1 See (2)
Stock
- --------------------------------------------------------------------------------
Common 450,220 0 1 See (3)
Stock
- --------------------------------------------------------------------------------
================================================================================
(1) Blackstone CCC Capital Partners L.P. ("BCP CCC") directly owns 48,533,288
shares of Common Stock and Warrants exercisable for 33,475,229 shares of
Common Stock. Blackstone Management Associates III L.L.C. ("BMA III") is
the sole general partner of BCP CCC. Peter G. Peterson and Stephen A.
Schwarzman are the founding members and managing members of BMA III.
Therefore, each of BMA III, Peter G. Peterson and Stephen A. Schwarzman
may be deemed to beneficially own all of the Common Stock and Warrants
owned by BCP CCC.
Page 2 of 5
FORM 4 (continued)
(2) Blackstone CCC Offshore Capital Partners L.P. ("BCP CCC Offshore")
directly owns 8,780,888 shares of Common Stock and Warrants exercisable
for 6,056,493 shares of Common Stock. BMA III is the sole investment
general partner of BCP CCC Offshore. Peter G. Peterson and Stephen A.
Schwarzman are the founding members and managing members of BMA III.
Therefore, each of BMA III, Peter G. Peterson and Stephen A. Schwarzman
may be deemed to beneficially own all of the Common Stock and Warrants
owned by BCP CCC Offshore.
(3) Blackstone Family Investment Partnership III L.P. ("BFIP III") directly
owns 3,658,351 shares of Common Stock and Warrants exercisable for
2,523,302 shares of Common Stock. BMA III is the sole general partner of
BFIP III. Peter G. Peterson and Stephen A. Schwarzman are the founding
members and managing members of BMA III. Therefore, each of BMA III,
Peter G. Peterson and Stephen A. Schwarzman may be deemed to
beneficially own all of the Common Stock and Warrants owned by BFIP III.
(4) On March 7, 2003, the outstanding Preferred Stock held by BCP CCC, BCP
CCC Offshore and BFIP III was exchanged for Warrants and Common Stock.
See Amendment No. 2 to Schedule 13D filed by the reporting persons
on March 11, 2003.
** Intentional misstatements or omissions Blackstone Management
of facts constitute Federal Associates III L.L.C.
Criminal Violations.
- ------------------------------------------- ----------------------
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Date: March 11, 2003
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 3 of 5
FORM 4 (continued)
JOINT FILER INFORMATION
-----------------------
Title of Security: Common Stock
Issuer & Ticker Symbol: Sirius Satellite Radio Inc. (SIRI)
Designated Filer: Blackstone Management Associates III L.L.C.
Other Joint Filers: Blackstone CCC Capital Partners L.P., Blackstone
CCC Offshore Capital Partners L.P., Blackstone
Family Investment Partnership III L.P., Peter G.
Peterson and Stephen A. Schwarzman.
Addresses: The principal business office address of each of
the reporting persons above, except for Blackstone
CCC Offshore Capital Partners L.P., is 345 Park
Avenue, 31st Floor, New York, New York 10154. The
principal business office address of Blackstone
CCC Offshore Capital Partners L.P. is c/o
Blackstone Services (Cayman) LDC c/o Hemisphere
Management (Cayman) Ltd., Zephyr House, Mary
Street, 5th Floor, Georgetown, Grand Cayman,
Cayman Islands.
Signatures:
BLACKSTONE CCC CAPITAL PARTNERS L.P.
By: Blackstone Management Associates III L.L.C.,
its general partner
By: /s/ Chinh E. Chu
_____________________________________
Name: Chinh E. Chu
Title: Senior Managing Director
Page 4 of 5
FORM 4 (continued)
BLACKSTONE CCC OFFSHORE CAPITAL PARTNERS L.P.
By: Blackstone Management Associates III L.L.C.,
its general partner
By: /s/ Chinh E. Chu
________________________________
Name: Chinh E. Chu
Title: Senior Managing Director
BLACKSTONE FAMILY INVESTMENT PARTNERSHIP III L.P.
By: Blackstone Management Associates III L.L.C.,
its general partner
By: /s/ Chinh E. Chu
________________________________
Name: Chinh E. Chu
Title: Senior Managing Director
/s/ Peter G. Peterson
___________________________________
PETER G. PETERSON
/s/ Stephen A. Schwarzman
___________________________________
STEPHEN A SCHWARZMAN
Page 5 of 5