Prepared by MERRILL CORPORATION


    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.           Net2Phone, Inc. (NTOP)           Director    X  10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue       77-0398689       09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
 X  Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California 94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/4/01       S           714   D   $3.95                        

    Common Stock       9/4/01       S           714   D   $3.96                        

    Common Stock       9/4/01       S           1,428   D   $4.00                        

    Common Stock       9/4/01       S           2,144   D   $4.01                        

    Common Stock       9/4/01       S           714   D   $4.04                        

    Common Stock       9/4/01       S           714   D   $4.05                        

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 1 of 19


FORM 4 (Continued)   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)
  4.   Transaction Code
(Instr. 8)
  5.   Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
  6.   Date Exercisable and Expiration Date (Month/Day/Year)
                       
 
                            Code   V       (A)   (D)       Date
Exercisable
  Expiration Date

                                                                                       

                                                         

                                                         

                                                         

                                                         

                                                         

                                                         

                                                         

                                                         

                                                         

                                                         


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 at End of Month
(Instr. 4)
  10.   Ownership Form of Derivative Securities Beneficially Owned at End of Month (Instr. 4)   11.   Nature of Indirect Beneficial Ownership
(Instr. 4)
   
                               
    Title   Amount or Number of Shares                                

                                                   

                                         

                                         

                                         

                                         

                                         

                                         

                                         

                                         

                                         

                                         

Explanation of Responses: XXX

    /s/ SUSAN DECKER     October 10, 2001
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).  
**Signature of Reporting Person
Susan L. Decker, Senior Vice President, Finance and Administration and Chief Financial Officer
 
Date
         
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 Number.        

Page 2 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.           Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
    Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California 94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/4/01       S           714   D   $4.06                        

    Common Stock       9/4/01       S           1,429   D   $4.07                        

    Common Stock       9/4/01       S           1,429   D   $4.13                        

    Common Stock       9/5/01       S           714   D   $3.60                        

    Common Stock       9/5/01       S           950   D   $3.66                        

    Common Stock       9/5/01       S           955   D   $3.70                        

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 3 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.           Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
    Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California 94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/5/01       S           714   D   $3.71                        

    Common Stock       9/5/01       S           714   D   $3.73                        

    Common Stock       9/5/01       S           714   D   $3.76                        

    Common Stock       9/5/01       S           955   D   $3.77                        

    Common Stock       9/5/01       S           1,428   D   $3.91                        

    Common Stock       9/5/01       S           714   D   $3.95                        

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 4 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.           Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
    Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California 94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/5/01       S           714   D   $3.97                        

    Common Stock       9/5/01       S           714   D   $4.00                        

    Common Stock       9/5/01       S           714   D   $4.01                        

    Common Stock       9/6/01       S           746   D   $3.47                        

    Common Stock       9/6/01       S           2,142   D   $3.50                        

    Common Stock       9/6/01       S           4,284   D   $3.51                        

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 5 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.               Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California   94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/6/01       S           2,114   D   $3.53                        

    Common Stock       9/6/01       S           714   D   $3.57                        

    Common Stock       9/7/01       S           714   D   $3.15                        

    Common Stock       9/7/01       S           1,400   D   $3.17                        

    Common Stock       9/7/01       S           714   D   $3.20                        

    Common Stock       9/7/01       S           2,856   D   $3.21                        

                                                                 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 6 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.               Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California   94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/7/01       S           714   D   $3.22                        

    Common Stock       9/7/01       S           714   D   $3.23                        

    Common Stock       9/7/01       S           714   D   $3.26                        

    Common Stock       9/7/01       S           714   D   $3.28                        

    Common Stock       9/7/01       S           714   D   $3.30                        

    Common Stock       9/7/01       S           746   D   $3.34                        

                                                                 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 7 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.               Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California   94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/10/01       S           1,400   D   $3.26                        

    Common Stock       9/10/01       S           1,428   D   $3.27                        

    Common Stock       9/10/01       S           4,284   D   $3.30                        

    Common Stock       9/10/01       S           1,428   D   $3.31                        

    Common Stock       9/10/01       S           714   D   $3.33                        

    Common Stock       9/10/01       S           746   D   $3.34                        

                                                                 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 8 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.               Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California   94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/18/01       S           714   D   $2.72                        

    Common Stock       9/18/01       S           1,432   D   $2.75                        

    Common Stock       9/18/01       S           1,428   D   $2.76                        

    Common Stock       9/18/01       S           714   D   $2.77                        

    Common Stock       9/18/01       S           714   D   $2.78                        

    Common Stock       9/18/01       S           2,142   D   $2.80                        

                                                                 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 9 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.               Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California   94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/18/01       S           714   D   $2.83                        

    Common Stock       9/18/01       S           714   D   $2.85                        

    Common Stock       9/18/01       S           714   D   $2.87                        

    Common Stock       9/18/01       S           714   D   $2.90                        

    Common Stock       9/19/01       S           720   D   $2.22                        

    Common Stock       9/19/01       S           720   D   $2.25                        

                                                                 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 10 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.               Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California   94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/19/01       S           720   D   $2.30                        

    Common Stock       9/19/01       S           1,400   D   $2.35                        

    Common Stock       9/19/01       S           720   D   $2.45                        

    Common Stock       9/19/01       S           714   D   $2.54                        

    Common Stock       9/19/01       S           1,428   D   $2.66                        

    Common Stock       9/19/01       S           714   D   $2.70                        

                                                                 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 11 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.               Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California   94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/19/01       S           2,142   D   $2.72                        

    Common Stock       9/19/01       S           722   D   $2.80                        

    Common Stock       9/20/01       S           714   D   $2.41                        

    Common Stock       9/20/01       S           714   D   $2.46                        

    Common Stock       9/20/01       S           714   D   $2.50                        

    Common Stock       9/20/01       S           2,143   D   $2.55                        

                                                                 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 12 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.               Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California   94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/20/01       S           1,428   D   $2.57                        

    Common Stock       9/20/01       S           1,428   D   $2.61                        

    Common Stock       9/20/01       S           2,144   D   $2.63                        

    Common Stock       9/20/01       S           715   D   $2.80                        

    Common Stock       9/21/01       S           3,570   D   $2.50                        

    Common Stock       9/21/01       S           714   D   $2.55                        

                                                                 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 13 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.               Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California   94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/21/01       S           714   D   $2.65                        

    Common Stock       9/21/01       S           2,100   D   $2.70                        

    Common Stock       9/21/01       S           714   D   $2.74                        

    Common Stock       9/21/01       S           1,428   D   $2.80                        

    Common Stock       9/21/01       S           760   D   $3.25                        

    Common Stock       9/24/01       S           10,000   D   $3.25                        

                                                                 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 14 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.               Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California   94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/25/01       S           714   D   $3.00                        

    Common Stock       9/25/01       S           714   D   $3.09                        

    Common Stock       9/25/01       S           2,142   D   $3.10                        

    Common Stock       9/25/01       S           2,618   D   $3.14                        

    Common Stock       9/25/01       S           1,428   D   $3.25                        

    Common Stock       9/25/01       S           2,384   D   $3.29                        

                                                                 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 15 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.               Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California   94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/26/01       S           714   D   $2.90                        

    Common Stock       9/26/01       S           1,428   D   $2.96                        

    Common Stock       9/26/01       S           1,428   D   $3.00                        

    Common Stock       9/26/01       S           2,856   D   $3.01                        

    Common Stock       9/26/01       S           714   D   $3.02                        

    Common Stock       9/26/01       S           1,432   D   $3.03                        

                                                                 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 16 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.               Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale, California   94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/26/01       S           714   D   $3.04                        

    Common Stock       9/26/01       S           714   D   $3.08                        

    Common Stock       9/27/01       S           714   D   $2.50                        

    Common Stock       9/27/01       S           1,428   D   $2.51                        

    Common Stock       9/27/01       S           2,142   D   $2.52                        

    Common Stock       9/27/01       S           714   D   $2.53                        

                                                                 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (3-99)

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.

Page 17 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.       Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale   California   94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/27/01       S           714   D   $2.54                        

    Common Stock       9/27/01       S           714   D   $2.57                        

    Common Stock       9/27/01       S           714   D   $2.59                        

    Common Stock       9/27/01       S           718   D   $2.65                        

    Common Stock       9/27/01       S           714   D   $2.80                        

    Common Stock       9/27/01       S           714   D   $2.95                        

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (9-99)

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.

Page 18 of 19



    FORM 4

/ / Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(f) of the Investment Company Act of 1940
 
OMB APPROVAL

OMB Number:  3235-0287
Expires: December 31, 2001
Estimated average burden hours per response .... 0.5


1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer (Check all applicable)
    Yahoo! Inc.       Net2Phone, Inc. (NTOP)           Director       10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person (voluntary)   4.   Statement for Month/Year            Officer
    (give title below)
       Other
    (specify below)
    701 First Avenue               09/2001            

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
    Sunnyvale   California   94089                       One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned at End of Month   6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/ Day/ Year)  
      (Instr. 3 and 4)                
                    Code   V       Amount   (A) or (D)   Price                        

    Common Stock       9/27/01       S           714   D   $3.00                        

    Common Stock       9/28/01       S           5,000   D   $3.00       1,904,278       D        

                                                                 

                                                                 

                                                                 

                                                                 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (9-99)

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.

Page 19 of 19