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UNITED STATES
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

x Check this 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*
2. Issuer Name and Ticker or Trading
Symbol
3. I.R.S. Identification Number of Reporting
Person, if an entity
(Voluntary)
  Lernout & Hauspie Speech Products N.V.
(Last) (First) (Middle)
  ScanSoft, Inc. (“SSFT”)
 
     
  Flanders Language Valley 50

(Street)
4. Statement for Month/Day/Year 5. If Amendment, Date of Original (Month/Day/Year)
    September 16, 2002
 
     
    6. Relationship of Reporting Person(s)
to Issuer
(Check All Applicable)
7. Individual or Joint/Group Filing
(Check Applicable Line)
  Ieper, Belgium, 8900
(City)        (State)        (Zip)
  o  Director x  10% Owner   x Form Filed by One Reporting Person
    o  Officer (give title below)   o Form Filed by More than One Reporting Person
    o  Other (specify below)  
     
     

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).

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 control number.


 

                                               

Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security
(Instr. 3)
2. Transaction
Date

(Month/Day/Year)
2A. Deemed Execution
Date, if any

(Month/Day/Year)
3. Transaction
Code

(Instr. 8)
4. Securities Acquired (A) or
Disposed of (D)

(Instr. 3, 4 and 5)
5. Amount of Sec-
urities Beneficially
Owned Following
Reported Trans-
action(s)

(Instr. 3 and 4)
6. Ownership
Form:
Direct (D) or
Indirect (I)

(Instr. 4)
7. Nature of
Indirect
Beneficial
Ownership

(Instr. 4)

              Code V   Amount (A)
or
(D)
Price          

  Common Stock, par value $0.001   9/16/02     S     1,305,387   D   $4.79          

  Common Stock, par value $0.001                   4,040,400 (1)     D  

  Common Stock, par value $0.001                   1,994,006     I   L&H Holdings USA, Inc.

                         

                         

                         

                         

                         

                         

                         

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Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned
  (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative
Security

(Instr. 3)
2. Conversion or Exercise
Price of Derivative
Security
3. Transaction
Date

(Month/Day/Year)
3A.  Deemed Execution
Date, if any

(Month/Day/Year)
4. Transaction
Code

(Instr. 8)
5. Number of Derivative Securities
Acquired (A) or Disposed of (D)

(Instr. 3, 4 and 5)

                      Code V   (A) (D)

               

               

               

               

               

               

               

               

               

               

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Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned — Continued
(e.g., puts, calls, warrants, options, convertible securities)

6. Date Exercisable and
Expiration Date

(Month/Day/Year)
7. Title and Amount
of Underlying Securities

(Instr. 3 and 4)
8. Price of Derivative
Security

(Instr. 5)
9. Number of Derivative Securities
Beneficially Owned Following
Reported Transaction(s)

(Instr. 4)
10. Ownership Form of
Derivative Security:
Direct (D) or
Indirect (I)

(Instr. 4)
11. Nature of
Indirect
Beneficial
Ownership

(Instr. 4)

  Date
Exercisable
Expiration
Date
  Title Amount or
Number of
Shares
                       

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

Explanation of Responses:

(1) Lernout & Hauspie Speech Products N.V. (“L&H”) received 7,400,000 shares of common stock of ScanSoft, Inc. (“ScanSoft”) pursuant to an Asset Purchase Agreement, dated as of December 7, 2001, among L&H, L&H Holdings USA, Inc. (a wholly-owned subsidiary of L&H) (“Holdings”) and various of their subsidiaries and ScanSoft. Subsequently, L&H became an indirect beneficial owner of an additional 121,359 shares of ScanSoft common stock issued to Holdings pursuant to an asset purchase agreement, dated as of February 22, 2002, relating to the sale of Holdings' Audiomining business to ScanSoft. L&H transferred a total of 181,566 shares to certain of its creditors in settlement of certain disputes. By order of the United States Bankruptcy Court for the District of Delaware, the remaining 7,339,793 shares of ScanSoft common stock were allocated between L&H and Holdings, 4,040,400 and 3,299,393 respectively. On September 16, 2002 pursuant to a purchase agreement among ScanSoft, L&H and Holdings, ScanSoft repurchased 1,305,387 shares of ScanSoft common stock from Holdings.

\s\ Jean Marc Vanstaen   September 18, 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 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 control number.

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