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+--------+
| FORM 4 |                       U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+                               WASHINGTON, D.C. 20549
[_] Check this box if
    no longer subject         STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
    to Section 16.
    Form 4 or Form 5       Filed pursuant to Section 16(a) of the Securities
    obligations may           Exchange Act of 1934, Section 17(a) of the
    continue. See            Public Utility Holding Company Act of 1935 or
    Instruction 1(b).      Section 30(f) of the Investment Company Act of 1940


- --------------------------------------------------------------------------------
1.  Name and Address of Reporting Person*

    Crane                           Anthony                           S.
- --------------------------------------------------------------------------------
        (Last)                      (First)                        (Middle)

    C/O/ OSI Systems, Inc.  12525 Chadron Avenue
- --------------------------------------------------------------------------------
                                   (Street)

    Hawthorne,                        Ca.                             90250
- --------------------------------------------------------------------------------
        (City)                      (State)                           (Zip)

*   If the Form is filed by more than one Reporting Person, see Instruction
    4(b)(v).
- --------------------------------------------------------------------------------

2.  Issuer Name and Ticker or Trading Symbol OSI Systems, Inc. (OSIS)
                                             -----------------------------------

3.  IRS or Social Security Number of Reporting Person (Voluntary)

                --------------

4.  Statement for Month/Year March 2000
                             ---------------------------------------------------

5.  If Amendment, Date of Original (Month/Year)
                                               ---------------------------------


6.  Relationship of Reporting Person to Issuer (Check all applicable)

                       X
    ___ Director      --- Officer             ___ 10% Owner    ___ Other
                        (give title below)                       (specify below)

    Managing Director of Rapiscan Security Products, Ltd. (Subsidiary)
                             -------------------
    ------------------------------------------------------------------

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

- ------------------------------------------------------------------------------------------------------------------------------------ 1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature of action action or Disposed of (D) Securities ship of In- Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct (Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene- Day/ ----------------------------------------------- End of (D) or ficial Year) Month Indirect Owner- Code V Amount (A) or Price (Instr. 3 and 4) (I) ship (D) (Instr. 4) (Instr. 4) - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 3-24-00 M 6,000 A $ 2.833 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 3-21-00 S 6,308 D $16.125 - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 3-24-00 S 6,000 D $15.875 0 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Print or Type Responses) (Over) Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
- ----------------------------------------------------------------------------------------------------------------------------- 1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- Security (Instr. 3) sion or action tion Code ative Securities Exercise Date (Instr. 8) Acquired (A) or Price of (Month/ Disposed of (D) Deriv- Day/ (Instr. 3, 4, and 5) ative Year) Security --------------------------------------------------- Code V (A) (D) - ----------------------------------------------------------------------------------------------------------------------------- Employee $7.00 8-3-99 A 2,500 - ----------------------------------------------------------------------------------------------------------------------------- Stock Option $8.62 2-7-00 A 1,500 - ----------------------------------------------------------------------------------------------------------------------------- $2.833 2-24-00 M 6,000 - ----------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------------ 6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na- cisable and Underlying Securities of of Deriv- ship ture Expiration (Instr. 3 and 4) Deriv- ative Form of In- Date ative Secur- of De- direct (Month/Day/ Secur- ities rivative Bene- Year) ity Bene- Security: ficial (Instr. ficially Direct (D) Owner- -------------------------------------------- 5) Owned or Indirect ship Date Expira- Amount or at End (I) (Instr. Exer- tion Title Number of of 4) cisable Date Shares Month (Instr. 4) (Instr. 4) - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ (1) 8-3-04 Common 2,500 $7.00 Stock - ------------------------------------------------------------------------------------------------------------------------------------ (1) 2-7-05 Common 1,500 $8.62 Stock - ------------------------------------------------------------------------------------------------------------------------------------ (2) 11-14-01 Common 6,000 $2.833 16,007 D Stock - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses: (1) Vested over four year period from the date of grant. (2) Entire employee stock is vested. ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). /s/ Anthony Crane 4-10-00 ------------------------------- ----------------- **Signature of Reporting Person Date 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