- -------
FORM 4
- -------
STATEMENT OF CHANGES OF BENEFICIAL OWNERSHIP
- --------------------------------------------------------------------------------
1. Name and Address of Reporting Person
Posey, H. Wayne
801 Cherry Street, Suite 1450
Fort Worth, Texas 76102
- --------------------------------------------------------------------------------
2. Issuer Name and Ticker or Trading Symbol
ProMedCo Management Company (PMCO)
- --------------------------------------------------------------------------------
3. IRS or Social Security Number of Reporting Person (Voluntary)
- --------------------------------------------------------------------------------
4. Statement for Month/Year - March 1998
- --------------------------------------------------------------------------------
5. If Amendment, Date of Original (Month/Day/Year)
- --------------------------------------------------------------------------------
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
1. Director 2. Officer - President and Chief Executive Officer
- --------------------------------------------------------------------------------
TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
- --------------------------------------------------------------------------------
1. Title of Security -
- --------------------------------------------------------------------------------
2-4 Transaction Date Transaction Securities Acquired (A)
(Month/Day/Year) Code Amount Price (per share)
All securities were Acquired.
- --------------------------------------------------------------------------------
5-7. Amount of Securities Ownership Form: Nature of Indirect
Beneficially Owned at Direct (D) or Beneficial Ownership
End of Month. Indirect (I)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
1. Title of Security - Common Stock Warrants
- --------------------------------------------------------------------------------
2-5 Conversion Number of Derivative
or Exercise Securities Acquired
Price of Derivative Transaction Date Transaction or Disposed of
Security (Month/Day/Year) Code
1.25 3/25/98 J* 43,693
All securities were Acquired.
- --------------------------------------------------------------------------------
6-8. Date Exercisable and Title and Amount Price of
Expiration Date of Underlying Securities Derivative
(Month/Day/Year) Title Amount or Number Securities
Immed. 6/30/03 Common Stock 43,693 ---
- --------------------------------------------------------------------------------
9-10. Number of Derivative Securities Ownership Form of Derivative
Beneficially Owned at End Security: Direct (D)
of Month or Indirect (I)
499,863 D
- --------------------------------------------------------------------------------
Explanation of Responses:
* Reflects the cancellation of warrants held by the reporting person
in payment of the outstanding principal of and accrued interest on
a $600,000 loan from the Issuer.
SIGNATURE OF REPORTING PERSON
/s/ H. WAYNE POSEY
H. Wayne Posey
Date: April 10, 1998
