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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(AMENDMENT NO. 2)
WSI Industries, Inc.
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(Name of Issuer)
Common Stock, $0.10 par value
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(Title of Class of Securities)
92932Q-10-2
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(CUSIP Number)
Michael N. Taglich
700 New York Ave.
Huntington
NY 11743
631-757-1500
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
April 20, 2004
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box. / /
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Section
240.13d-7 for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
CUSIP NO. 92932Q-10-2
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Michael N. Taglich
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
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(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
Not Applicable
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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7 SOLE VOTING POWER
NUMBER OF
1,000
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
1,000
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [X]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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14 TYPE OF REPORTING PERSON (See Instructions)
IN
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Item 1. Security and Issuer.
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(a) Title of Class of Securities: Common Stock, $0.10
par value
(b) Name of Issuer: WSI Industries, Inc. (the "Company")
(c) Address of Issuer's Principal Executive Offices:
18151 Territorial Road, Osseo, Minnesota 55369.
Item 2. Identity and Background.
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(a) Name of Person Filing: Michael N. Taglich.
(b) Residence or Business Address: 700 New York Ave,
Huntington NY, 11743.
(c) Principal Occupation or Employment: Mr. Taglich is a
partner in the brokerage firm, Taglich Brothers,
Inc., the principal address of which is listed in
Item 2(b) above. Mr. Taglich is also a partner in
Tag/Kent Partners.
(d) Conviction in a criminal proceeding during the last
five years: None.
(e) Subject, during the last five years, to a judgment,
decree or final order enjoining securities laws
violations: None.
(f) Citizenship: United States of America.
Item 3. Source and Amount of Funds or Other Consideration.
--------------------------------------------------
Not applicable.
Item 4. Purpose of Transaction.
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Item 5. Interest in Securities of Issuer
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(a) Number and Percentage of Class beneficially owned:
As of April 20, 2004, Mr. Taglich owned no shares of common stock
directly and no shares of the Company's common stock indirectly,
through his IRA, Taglich Bros., Inc. or Tag/Kent Partners.
As of April 20, 2004, Mr. Taglich held options exercisable within
60 days to purchase 1,000 shares of the Company's common stock.
Thus, as of April 20, 2004, Mr. Taglich is the beneficial owner
of 0% of the 2,553,629 shares outstanding as of February 29,
2004, as reported by the Company in its Quarterly Report on Form
10-Q for the year ended February 29, 2004.
(b) Voting and Dispositive Power:
Mr. Taglich has sole voting and dispositive power over the options
exercisable within 60 days of April 20, 2004 to purchase 1,000 shares
of the Company's common stock.
(c) Transactions within 60 days:
In the past sixty days, transactions effected by Mr. Taglich or by
any other person whose beneficial ownership may be attributable to
Mr. Taglich consisted only of sales of the Company's common stock
and were as follows:
Price Per Share Date Number Of Shares Sold
--------------- ---- ---------------------
$4.807 4/20/04 80,710
$4.807 4/20/04 8,340
$4.807 4/20/04 5,000
$4.807 4/20/04 39,205
(d) Right to Direct the Receipt of Dividends: Not Applicable.
(e) Last Date on Which Reporting Person Ceased to be a 5% Holder:
April 20, 2004
Item 6. Contracts, Arrangements, Understandings or Relationships with
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Respect to Securities of the Issuer.
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None.
Item 7. Material to be Filed as Exhibits.
---------------------------------
None.
Signature
After reasonable inquiry and to the best of his knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: May 5, 2004
/s/ Michael N. Taglich
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Michael N. Taglich