4 1 form4isi-key3_020303.txt STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP ------------------------------ OMB APPROVAL ------------------------------ OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response . . . 0.5 ------------------------------ U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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(h) of the Investment Company Act of 1940 [_] Check this box if no longer subject of 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* Invemed Securities, Inc. -------------------------------------------------------------------------------- (Last) (First) (Middle) 375 Park Avenue Suite 2205 -------------------------------------------------------------------------------- (Street) New York NY 10152 -------------------------------------------------------------------------------- (City) (State) (Zip) ================================================================================ 2. Issuer Name and Ticker or Trading Symbol Key3Media Group, Inc. ("KMED") ================================================================================ 3. IRS Identification Number of Reporting Person, if any (Voluntary) ================================================================================ 4. Statement for Month/Day/Year 02/03/03 ================================================================================ 5. If Amendment, Date of Original (Month/Day/Year) ================================================================================ 6. Relationship of Reporting Person to Issuer (Check all applicable) [_] Director [_] 10% Owner [_] Officer (give title below) [X] Other (specify below) (1) ================================================================================ 7. Individual or Joint/Group Filing (Check Applicable Line) [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 ================================================================================

5. Amount of 6. 4. Securities Owner- Securities Acquired (A) or Beneficially ship 2. 2A. 3. Disposed of (D) Owned Follow- Form: 7. 2.Transac- Deemed Transaction (Instr. 3, 4 and 5) ~~Following~~ing Reported Direct Nature of ~~Trans-~~tion Execution Code ------------------------------- ~~Reported~~Transac- (D) or Indirect 1. ~~action~~Date Date, if (any Instr. 8) (A) ~~Transaction~~tions(s) Indirect Beneficial Title of Security ~~Date~~(Month/ ~~any~~(Month/ ------------ Amount or Price (Instr. 3 & (I) Ownership (Instr. 3) ~~(mm~~Day/~~dd/yy~~Year) ~~(mm~~Day/~~dd/yy~~Year) Code V ~~Amount~~ (D) ~~Price~~and ~~Instr.~~4) (Instr.4) (Instr. 4) ------------------------------------------------------------------------------------------------------------------------------------ Common Stock, par value $0.01 per share 1102/2503/0203 PS 745,~~074~~166,667 (AD) ~~(3)~~$0.004 ~~5,166,667~~0 (I) (21) ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ (1) Michael B. Solomon resigned as a director of the Issuer on January 6, 2003. ====================================================================================================================================

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). PERSONS WHO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB NUMBER. (Over) SEC 1474 (9-02) FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================

9. Number 10. of Owner- ~~deriv~~Deriv- ship ative Form 2. Secur- of Conver- 5. 7. ities Deriv- 11. sion 3A Number of Title and Amount Bene- ative Nature orof Deemed Derivative 6. of Underlying 8. ficially Secur- of Exer- ~~3A.~~Exe- 4. Securities Date Securities Price Owned ity: In- cise ~~Deemed~~3. cution Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Follow- Direct direct Price ~~3. Execut~~Trans- Date, action or Disposed Expiration Date ---------------- Deriv- ing Re- (D) or Bene- 1. of ~~Trans-~~action ~~ion~~if Code of (D) (Month/Day/Year) Amount ative ~~Reported~~ported In- ficial Title of Deriv- ~~action~~ Date ifany (Instr. (Instr. 3, ---------------- or Secur- Trans- direct Owner- Derivative ative ~~Date~~(Month/ ~~any~~(Month/ 8) 4 and 5) Date Expira- Number ity action(s) (I) ship Security Secur- ~~(mm~~Day/~~dd/~~ ~~(mm~~Day/~~dd/~~ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity yyYear) yyYear) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) ------------------------------------------------------------------------------------------------------------------------------------ Options to ~~10/21/~~$ 8.00 A N/A Immed. (42) Common 20,000 ~~$8.00~~ N/A (I) (21) purchase Stock shares of Common Stock ------------------------------------------------------------------------------------------------------------------------------------ Options to $11~~/21/00~~.375 A N/A Immed. (53) Common 6,666 ~~$11.375~~ N/A (I) (21) purchase Stock shares of Common Stock ------------------------------------------------------------------------------------------------------------------------------------ Series A ~~11/27/01~~5.5% P$ 5.55 1,~~000~~0000,000 Immed. (64) Common (75) ~~$25~~ 1,000,000 (I) (21) ~~5.5%~~Convertible Stock ~~Convertible~~ Redeemable Preferred Stock, par value $0.01 per share ------------------------------------------------------------------------------------------------------------------------------------ Series B ~~11/25/02~~5.5% P$ 5.55 80,000 Immed. (86) Common (97) ~~(3)~~ 80,000 (I) (21) ~~5.5%~~Convertible Stock ~~Convertible~~ Redeemable Preferred Stock, par value $0.01 per share ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ~~====================================================================================================================================~~------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------

Explanation of Responses: (1) The Reporting Person is one of the managing members of Invemed Catalyst GenPar, LLC, the general partner of Invemed Catalyst Fund, L.P., and may be deemed to own the securities held by such person. The Reporting Person disclaims beneficial ownership of such securities in excess of its direct interest in the profits or capital accounts of Invemed Catalyst GenPar, LLC and this report shall not be deemed an admission of that the Reporting Person is the beneficial owner of these securities in excess of such amount. The Reporting Person may be deemed a member of section 13(d) group that owns more than 10% of the Issuer's outstanding Common Stock. However, the Reporting Person disclaims such group membership, and this report shall not be deemed an admission that the Reporting Person is a member of Section 13(d) group that owns more than 10% of the Issuer's outstanding Common Stock for purposes of Section 16 or for any other purpose. (2) In accordance with the Key3Media Group, Inc. Stock Option Agreement, dated October, 21, 2000, entered into between Invemed Catalyst Fund, L.P. and the Issuer, the options must be exercised within 90 days after Michael B. Solomon's termination of service on the board of directors of the Issuer. Michael B. Solomon resigned from his position as a director of the Issuer, effective as of January 6, 2003. (3) In accordance with the Key3Media Group, Inc. Stock Option Agreement, dated November 21, 2000, entered into between Invemed Catalyst Fund, L.P. and the Issuer, the options must be exercised within 90 days after Michael B. Solomon's termination of service on the board of directors of the Issuer. Michael B. Solomon resigned from his position as a director of the Issuer, effective as of January 6, 2003. (4) Automatic conversion on November 27, 2011. (5) One share of Series A 5.5% Convertible Redeemable Preferred Stock is convertible into a number of common stock of the Issuer equal to the ratio the numerator of which is the adjusted liquidation preference and the denominator of which is the conversion price. The adjusted liquidation preference is (i) the liquidation preference at the beginning of the quarter divided by the conversion price, plus (ii) the amount of dividend accrued as of the conversion date divided by the closing price of a share of Common Stock the last trading day before the conversion date. The liquidation preference is originally $25 but accrues over time by the amount of unpaid dividends. As of February 3, 2003, one million shares of Series A 5.5% Convertible Redeemable Preferred Stock would be convertible into 25,674,710 shares of Common Stock of the Issuer. (6) Automatic conversion on November 27, 2011. (7) One share of Series B 5.5% Convertible Redeemable Preferred Stock is convertible into a number of common stock of the Issuer equal to the ratio the numerator of which is the adjusted liquidation preference and the denominator of which is the conversion price. The adjusted liquidation preference is (i) the liquidation preference at the beginning of the quarter divided by the conversion price, plus (ii) the amount of dividend accrued as of the conversion date divided by the closing price of a share of common stock the last trading day before the conversation date. The liquidation preference is originally $25 but accrues over time by the amount of unpaid dividends. As of February 3, 2003, 80,000 shares of Series B 5.5% Convertible Redeemable Preferred Stock would be convertible into 2,053,976 shares of Common Stock of the Issuer. Invemed Securities, Inc. /s/ John Baran February 3, 2003 ---------------------------------------- ------------------------- **Signature of Reporting Person Date Name: John Baran Title: Chief Financial Officer **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 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. Page 2

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