X0202 4 2006-03-15 0000004164 ALPINE GROUP INC /DE/ APNI 0001249544 KARP HAROLD M C/O THE ALPINE GROUP, INC. ONE MEADOWLANDS PLAZA, SUITE 801 EAST RUTHERFORD NJ 07073 0 1 0 0 President-Essex Electric Inc. Common Stock 2006-03-15 4 M 0 83334 .76 A 145492 D Employee Stock Option (right to buy) .76 2006-03-15 4 M 0 83334 0 D 2004-06-21 2013-06-20 Common Stock 83334 83334 D Employee Stock Option (right to buy) .76 2004-08-19 4 M 0 41666 0 D 2004-06-21 2013-06-20 Common Stock 41666 41666 D Series A Cumulative Convertible Preferred Stock .51 2003-06-23 4 P 0 53 380.00 A 2003-11-11 2009-12-21 Common Stock 36623 53 D Employee Stock Option (right to buy) .76 2003-06-20 4 A 0 125000 0 A 2004-06-21 2013-06-20 Common Stock 125000 125000 D The option, which was granted in a transaction exempt under Rule 16b-3, vests in three equal annual installments beginning on the first anniversary of the date of grant. As previously disclosed in the Company filings with the Commission, the original conversion price of the Series A Preferred Stock ($.55) was adjusted to $.51, as a result of the payment of a special dividend in respect of the Company's common stock. Convertible into common stock at any time after the earlier to occur of (y) the consummation of the first public offering to stockholders of the Company of rights to purchase shares of Series A Cumulative Convertible Preferred Stock ("Series A Preferred Stock") and (z) March 31, 2004, and prior to (i) the date which is 10 days preceding the date fixed for the redemption of the Series A Preferred Stock if there is no default in payment of the change of control redemption price and (ii) December 21, 2009. The Company will redeem 1/12th of the outstanding shares of Series A Preferred Stock on December 31, 2009 and on the last day of every calendar quarter thereafter until all outstanding shares of Series A Preferred Stock have been redeemed. Stewart H. Wahrsager 2006-03-17