<PAGE>
THIS REPORT HAS BEEN FILED WITH
THE SECURITIES AND EXCHANGE COMMISSION
VIA EDGAR
-----------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-----------------------------------------------------------------------------
FORM 4
Statement of Changes in Beneficial Ownership
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instructions 1(b)
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.
Commission File Number 000-20841
U G L Y D U C K L I N G C O R P O R A T I O N
(Exact name of registrant as specified in its charter)
Delaware 86-0721358
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification no.)
2525 E. Camelback Road,
Suite 1150
Phoenix, Arizona 85016
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (602) 852-6600
<PAGE>
1. Name and Address of Reporting Person*:
JOHNSON, STEVEN P.
2525 E. Camelback Blvd., Suite
1150
Phoenix, Arizona 85016
2. Issuer Name and Ticker or Trading Symbol: UGLY DUCKLING CORPORATION "UGLY"
3. IRS or Social Security Number of Reporting Person (Voluntary):
4. Statement for Month/Year: MAY 1997
5. If Amendment, Date of Original (Month/Year):
6. Relationship of Reporting Person to Issuer: OFFICER: SENIOR VICE
PRESIDENT
7. Individual or Joint/Group Filing: FORM FILED BY ONE REPORTING PERSON
<TABLE>
<CAPTION>
Table 1 - Non-Derivative Securities Acquired,
Disposed of, or Beneficially Owned
Amount of Ownership
Securities Securities Form: Nature of
Acquired(A) Beneficially Direct(D) Indirect
Title of Transaction Transaction or Owned at or Beneficial
Security Date Code Disposed of(D) End of Month Indirect(I) Ownership
- ----------- -----------------------------------------------------------------------------
Code V Amount A/D Price
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock No Change 300,000 D
</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.
<PAGE>
<TABLE>
<CAPTION>
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options,
convertible securities)
Number of
Number of Derivative Ownership
Conversion Derivative Securities Form of
or Securities Date Benefi- Derivative
Exercise Acquired Exercisable cially Security:
Title of Price of (A) or and Price of Owned Direct
Derivative Derivative Transaction Transaction Disposed Expiration Title and Amount of Derivative at End of (D) or
Security Security Date Code of (D) Date Underlying Securities Securities Month Indirect(I)
- ---------- ---------- ----------- ----------- ----------- ------------ --------------------- ---------- ---------- ------------
Date Expira Amount or
Exerci -tion Number of
Code V (A) (D) -sable Date Title Shares
----------- ----------- ------------ ---------------------- ---------- ---------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
OPTIONS 15.750* 5/27/97 A V 20,000 * * Common Stock 20,000 * 45,000 D
</TABLE>
Explanation of Responses:
*These options were granted under the Ugly Duckling Long-Term Incentive Plan
("Plan") on May 27, 1997, December 2, 1996 and June 1, 1996 at exercise prices
ranging between $17.688 and $6.75 per share. The options will expire six
years following the respective grant dates. No option is exercisable before
one year from the date of grant. Thereafter, options vest and become
exercisable as follows: 20% per year.
/s/ Steven P. Johnson
- -------------------------------
**Signature of Reporting Person
06/09/97
- -------------------------------
Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 19 U.S.C. 788(a).
