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FORM 4 OMB APPROVAL
[ ] Check this box if no longer
subject to Section 16. Form 4
or Form 5 obligations may
continue. See Instruction 1(b).
U.S. 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
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<CAPTION>
<S> <C> <C>
1. Name and Address of 2. Issuer Name and Ticker or 6. Relationship of Reporting Person to Issuer
Reporting Person Trading Symbol (Check all applicable)
Anderson Ronald D. Pacific Gateway Exchange, Inc. _____ Director ______ 10% Owner
(NASDAQ/NMS: PGEX) X Officer (give Other (specify
----- title ------ below)
(Last) (First) (Middle) below)
Senior Vice President
3. IRS or Social Security 4. Statement for
c/o Pacific Gateway Exchange Number of Reporting Month/Year
533 Airport Blvd. Suite 505 Person (Voluntary) June 1997
(Street) 5. If Amendment,
Date of Original
Burlingame California 94010
(City) (State) (Zip)
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6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 6/2/97 S 2,872 D $26.075
6/5/97 S 5,204 D $26.25
6/5/97 J 1/ 40,000 D $26.00 183,620
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
(Print or Type Responses) SEC 1474 (8-92)
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1/ Represents shares transferred into an exchange fund.
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FORM 4 (continued) Table II-- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Option
(Right to Buy) $8.50 9/30/95 (No Change) 9/30/96 9/30/00 Common 10,250 1/ 10,250 D
Option
(Right to Buy) $8.50 9/30/95 (No Change) 12/31/96 9/30/00 Common 2,562 1/ 2,562 D
Option
(Right to Buy) $8.50 9/30/95 (No Change) 3/31/97 9/30/00 Common 2,562 1/ 2,562 D
Option
(Right to Buy) $8.50 9/30/95 (No Change) 6/30/97 9/30/00 Common 2,562 1/ 2,562 D
Option
(Right to Buy) $8.50 9/30/95 (No Change) 9/30/97 9/30/00 Common 2,562 1/ 2,562 D
Option
(Right to Buy) $8.50 9/30/95 (No Change) 12/31/97 9/30/00 Common 2,562 1/ 2,562 D
Option
(Right to Buy) $8.50 9/30/95 (No Change) 3/31/98 9/30/00 Common 2,562 1/ 2,562 D
Option
(Right to Buy) $8.50 9/30/95 (No Change) 6/30/98 9/30/00 Common 2,562 1/ 2,562 D
Option
(Right to Buy) $8.50 9/30/95 (No Change) 9/30/98 9/30/00 Common 2,562 1/ 2,562 D
Option
(Right to Buy) $8.50 9/30/95 (No Change) 12/31/98 9/30/00 Common 2,562 1/ 2,562 D
Option
(Right to Buy) $8.50 9/30/95 (No Change) 3/31/99 9/30/00 Common 2,562 1/ 2,562 D
Option
(Right to Buy) $8.50 9/30/95 (No Change) 6/30/99 9/30/00 Common 2,562 1/ 2,562 D
Option
(Right to Buy) $8.50 9/30/95 (No Change) 9/30/99 9/30/00 Common 2,568 1/ 2,568 D
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Explanation of Responses:
1/ Options granted pursuant to the Company's 1995 Stock Option Plan.
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ Ronald Anderson 7/10/97
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**Signature of Reporting Person (Authorized Signer) 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 3
SEC 1474 (8-92)
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