4 1 spartaf4_reinermar2602.txt 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). ________________________________________________________________________________ 1. Name and Address of Reporting Person* Reiner Thomas Francis -------------------------------------------------------------------------------- (Last) (First) (Middle) 4478 Fleetwood Road -------------------------------------------------------------------------------- (Street) Danville CA 94506 -------------------------------------------------------------------------------- (City) (State) (Zip) ________________________________________________________________________________ 2. Issuer Name and Ticker or Trading Symbol Sparta Surgical Corporation (SPSG) ________________________________________________________________________________ 3. IRS Identification Number of Reporting Person, if an Entity (Voluntary) ________________________________________________________________________________ 4. Statement for Month/Year March 2002 ________________________________________________________________________________ 5. If Amendment, Date of Original (Month/Year) ________________________________________________________________________________ 6. Relationship of Reporting Person to Issuer (Check all applicable) [X] Director [_] 10% Owner [X] Officer (give title below) [_] Other (specify below) Chairman, President and CEO --------------------------- ________________________________________________________________________________

==================================================================================================================================== Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned ==================================================================================================================================== 6. 4. 5. Owner- Securities Acquired (A) or Amount of ship 3. Disposed of (D) Securities Form: 7. Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of 2. Code ------------------------------- Owned at End (D) or Indirect 1. Transaction (Instr. 8) (A) of Month Indirect Beneficial Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership (Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4) ------------------------------------------------------------------------------------------------------------------------------------ Common Stock-See Note #1 0203/2714/02 ~~D 5,000~~ A ~~$0.13 2~~20,~~226,029 D See Note #1 ------------------------------------------------------------------------------------------------------------------------------------ Common Stock-See Note #1 02/25/02 D 5,~~000 A $0.13055 2,~~221~~246,029 D See Note #1 ------------------------------------------------------------------------------------------------------------------------------------ Common Stock-See Note #34 08/01/00 J 1,066,680 A $0.0 4,382,762 I See Note #2 ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================

* If the Form is filed by more than one Reporting Person, see Instruction 4(b)(v). Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Print or Type Responses) (Over) (Form 4-07/99)

FORM 4 (continued) ==================================================================================================================================== Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ==================================================================================================================================== 10. 9. Owner- Number ship of Form 2. Deriv- of Conver- 5. 7. ative Deriv- 11. sion Number of Title and Amount Secur- ative Nature or Derivative 6. of Underlying 8. ities Secur- of Exer- 4. Securities Date Securities Price Bene- ity: In- cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene- 1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner- Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) ------------------------------------------------------------------------------------------------------------------------------------ Common Stock Options -- 11/29/01 D 950,000 -- -- Stock -- $0.22-$1.65 1,454,335 D See Note #4 ------------------------------------------------------------------------------------------------------------------------------------ Common Stock Options -- 11/30/01 D 173,335 -- -- Stock -- $0.59-$13.50 1,281,000 D See Note #4 ------------------------------------------------------------------------------------------------------------------------------------ Common Warrants -- 10/31/00 A 604,237 -- -- Stock -- 604,237 I See Note #3 ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================

Explanation of Responses: Note #1 - Held by the Reporting Person as Trustee for the Company and subject to an Escrow Agreement by and between the Reporting Person and the Company, - 1,902,986 Note #2 - Held by the Reporting Person as Trustee - 4,382,762 for Unaffiliated Parties. Note #3 - Held by the Reporting Person as Trustee - 604,237 for Unaffiliated Parties. Note #4 - Held by and cancelled by Reporting Person. /s/ Thomas F. Reiner 03/26/2002 --------------------------------------------- ----------------------- **Signature of Reporting Person Date ** 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. Page 2

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