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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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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1. Name and Address of Reporting Person*
Calafell Robert C.
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(Last) (First) (Middle)
c/o Pacific Gateway Exchange, Inc.
533 Airport Boulevard, Suite 505
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(Street)
Burlingame, California 94010
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
October 23, 1998
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Pacific Gateway Exchange, Inc. (NASDAQ:PGEX)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[ X ] Director [ ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
[ X ] Form Filed by One Reporting Person
[ ] Form Filed by More than One Reporting Person
<PAGE>
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
Common Stock 400 D
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
5(b)(v)
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 2
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
Option (Right to Buy) (1) (1) Common Stock 20,000 $31.1875 D
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</TABLE>
Explanation of Responses:
(1) Options granted pursuant to Company's 1997 Long-Term Incentive Plan. Such
options vest as follows: 5,000 shares vest on 10/23/99; 1,250 shares vest
on 1/23/00; 1,250 shares vest on 4/23/00; 1,250 shares vest on 7/23/00; 1,250
shares vest on 10/23/00; 1,250 shares vest on 1/23/01; 1,250 shares vest on
4/23/01; 1,250 shares vest on 7/23/01; 1,250 shares vest on 10/23/01; 1,250
shares vest on 1/23/02; 1,250 shares vest on 4/23/02; 1,250 shares vest on
7/23/02; 1,250 shares vest on 10/23/02.
/s/ Robert C. Calafell October 26, 1998
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient. See Instruction 6 for procedure.
Alternatively, this form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to Rule 101(b)(4) of Regulation S-T.
Page 2 of 2
(122795DTI)
