SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-C REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ INTERDEALER QUOTATION SYSTEM FILED PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 AND RULE 13a-17 OR 15d-17 THEREUNDER NAI TECHNOLOGIES, INC. (EXACT NAME OF ISSUER AS SPECIFIED IN CHARTER) 2405 TRADE CENTRE AVENUE, LONGMONT, COLORADO 80503 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICE) Issuer's telephone number, including area code (303) 776-5674 I. CHANGE IN NUMBER OF SHARES OUTSTANDING Indicate any change (increase or decrease) of 5% or more in the number of shares outstanding: 1. Title of security Common Stock, par value $0.10 per share 2. Number of shares outstanding before the change 7,459,437 3. Number of shares outstanding after the change 8,459,437 4. Effective date of change May 9, 1996 5. Method of change: Issuance of 1,000,000 shares of Common Stock from the conversion of a 12% convertible subordinated promissory note in the aggregate principal amount of $2,000,000. Specify method (such as merger, acquisition, exchange, distribution, stock split, reverse split, acquisition of stock for treasury, etc.) Give brief discription of transaction: Issuance of 1,000,000 shares of Common Stock from the conversion of a 12% convertible subordinated promissory note. II. CHANGE IN NAME OF ISSUER 1. Name prior to change______________________________________________________ 2. Name after change_________________________________________________________ 3. Effective date of charter amendment changing name_________________________ 4. Date of shareholder approval of change, if required_______________________ Date May 22, 1996 NAI TECHNOLOGIES, INC. /s/ RICHARD A. SCHNEIDER By: ................................. Richard A. Schneider Executive Vice President