SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                               ___________________

                                    FORM 8-K

                                 CURRENT REPORT


                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

        Date of Report (Date of Earliest Event Reported): April 30, 2002

                           FREQUENCY ELECTRONICS, INC.
             (Exact name of registrant as specified in its charter)


     Delaware                        1-8061                      11-1986657
(State or other jurisdiction      (Commission                 (I.R.S. Employer
  of incorporation)               File Number)               Identification No.)


55 Charles Lindbergh Blvd., Mitchel Field, NY                        11553
(Address of principal executive offices)                          (Zip Code)

                                 (516) 794-4500
              (Registrant's telephone number, including area code)

                                      NONE
              (Former name, former address and former fiscal year,
                         if changed since last report)

_______________________________________________________________________

                                Page 1 of 3 pages


<PAGE>

ITEM 5.  OTHER EVENTS

     On April 30,  2002,  Frequency  Electronics,  Inc.  (referred  to as "FEI")
settled the  arbitration  proceeding  it had  commenced  in June 2001 before the
American Arbitration  Association against The Home Insurance Company of Illinois
("Home") under an excess directors and officers liability  insurance policy. FEI
had asserted claims for its loss relating to, among other matters,  sums it paid
in connection with the Global  Settlement and Disposition with the Government on
June 19, 1998.  Under the terms of the settlement  agreement,  Home paid FEI One
Million Five Hundred Thousand  ($1,500,000) Dollars, FEI released its claims and
the arbitration was discontinued.  FEI has now recovered a total of Nine Million
($9,000,000)  Dollars  under the primary  and excess  insurance  policies  which
covered the loss relating to the Global  Settlement and  Disposition and related
matters.

     For a further  discussion of FEI's claims  against its  insurance  carriers
reference  is made to the Forms 10-K for the fiscal  years  ended April 30, 2001
and  April  30,  1998,  respectively,  filed  by  FEI  under  Section  13 of the
Securities  Exchange  Act of  1934,  which  are on  file at the  Securities  and
Exchange Commission.

<PAGE>

                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                       FREQUENCY ELECTRONICS, INC.


                                       By: /s/Alan Miller
                                           --------------
                                             Alan Miller
                                             Treasurer and
                                             Chief Financial Officer


Dated:  May 6, 2002
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{"company-data": {"conformed-name": "FREQUENCY ELECTRONICS INC", "cik": "0000039020", "assigned-sic": "3825", "irs-number": "111986657", "state-of-incorporation": "DE", "fiscal-year-end": "0430"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-08061", "film-number": "02635715"}, "business-address": {"street1": "55 CHARLES LINDBERGH BLVD", "city": "MITCHEL FIELD", "state": "NY", "zip": "11553", "phone": "5167944500"}, "mail-address": {"street1": "55 CHARLES LINDBERGH BOULEVARD", "city": "MITCHELL FIELD", "state": "NY", "zip": "11553"}}
SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                               ___________________

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

        Date of Report (Date of Earliest Event Reported): April 30, 2002

                           FREQUENCY ELECTRONICS, INC.
             (Exact name of registrant as specified in its charter)

     Delaware                        1-8061                      11-1986657
(State or other jurisdiction      (Commission                 (I.R.S. Employer
  of incorporation)               File Number)               Identification No.)

55 Charles Lindbergh Blvd., Mitchel Field, NY                        11553
(Address of principal executive offices)                          (Zip Code)

                                 (516) 794-4500
              (Registrant's telephone number, including area code)

                                      NONE
              (Former name, former address and former fiscal year,
                         if changed since last report)

_______________________________________________________________________

                                Page 1 of 3 pages
ITEM 5.  OTHER EVENTS

     On April 30,  2002,  Frequency  Electronics,  Inc.  (referred  to as "FEI")
settled the  arbitration  proceeding  it had  commenced  in June 2001 before the
American Arbitration  Association against The Home Insurance Company of Illinois
("Home") under an excess directors and officers liability  insurance policy. FEI
had asserted claims for its loss relating to, among other matters,  sums it paid
in connection with the Global  Settlement and Disposition with the Government on
June 19, 1998.  Under the terms of the settlement  agreement,  Home paid FEI One
Million Five Hundred Thousand  ($1,500,000) Dollars, FEI released its claims and
the arbitration was discontinued.  FEI has now recovered a total of Nine Million
($9,000,000)  Dollars  under the primary  and excess  insurance  policies  which
covered the loss relating to the Global  Settlement and  Disposition and related
matters.

     For a further  discussion of FEI's claims  against its  insurance  carriers
reference  is made to the Forms 10-K for the fiscal  years  ended April 30, 2001
and  April  30,  1998,  respectively,  filed  by  FEI  under  Section  13 of the
Securities  Exchange  Act of  1934,  which  are on  file at the  Securities  and
Exchange Commission.
SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                       FREQUENCY ELECTRONICS, INC.

                                       By: /s/Alan Miller
                                           --------------
                                             Alan Miller
                                             Treasurer and
                                             Chief Financial Officer

Dated:  May 6, 2002