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OMB APPROVAL
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
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
[ ] Check box if no longer subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Neckowitz Howard A.
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(Last) (First) (Middle)
c/o Pacific Gateway Exchange
533 Airport Blvd. Suite 505
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(Street)
Burlingame California 94010
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Pacific Gateway Exchange, Inc. (NASDAQ/NMS: PGEX)
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
November 1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[x] Director [ ] 10% Owner
[x] Officer (give title below) [ ] Other (specify below)
President and Chief Executive Officer
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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
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<PAGE>
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
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>
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Common Stock 6/11/98 G(1) V 100,000 D D
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Common Stock 6/11/98 G(1) V 100,000 A I (1)
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Common Stock 11/17/98 S 10,000 D $41 I (2)
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Common Stock 11/18/98 S 90,000 D $40.5023 I (2)
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Common Stock 11/23/98 S 25,000 D $45 I (2)
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Common Stock 11/24/98 S 25,000 D $44.6658 I (2)
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Common Stock 1,338,809 D
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Common Stock 119,640 I (3)
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Common Stock 46,045 I (4)
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
(Form 4-07/98)
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or 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>
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Explanation of Responses:
(1) Represents shares donated without consideration by Howard A. Neckowitz to the Howard A. Neckowitz and Cheryl
Neckowitz 1997 Trust.
(2) Represents sales of shares by the Howard A. Neckowitz and Cheryl Neckowitz 1997 Trust.
(3) Represents shares owned by Cheryl A. Kempton-Neckowitz, the wife of Mr. Neckowitz, who granted Mr. Neckowitz an
irrevocable proxy giving him the right to vote such shares. Mr. Neckowitz disclaims beneficial ownership of such shares.
(4) Represents shares owned by the Howard A. Neckowitz and Cheryl Neckowitz 1997 Trust, of which Howard and Cheryl Neckowitz
are co-trustees.
</TABLE>
/s/ Howard A. Neckowitz 12/9/98
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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.
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