<PAGE> 1
THIS REPORT HAS BEEN FILED WITH
THE SECURITIES AND EXCHANGE COMMISSION
VIA EDGAR
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
/x/ CHECK THIS BOX IF NO LONGER SUBJECT TO SECTION 16. FORM 4 OR FORM 5
OBLIGATIONS MAY CONTINUE. SEE INSTRUCTION 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 20(f) OF THE INVESTMENT COMPANY ACT OF 1940
Commission File Number 000-20841
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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
1. NAME AND ADDRESS OF REPORTING PERSON*
Page 1 of 4
SEC 1474 (7-96)
<PAGE> 2
Vonsh, Walter
2525 E. Camelback Rd., Suite 1150
Phoenix, Arizona 85016
<TABLE>
<S> <C>
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
5/98
5. IF AMENDMENT,
DATE OF ORIGINAL
(MONTH/YEAR)
6. RELATIONSHIP OF REPORTING PERSON(S) TO ISSUER
(CHECK ALL APPLICABLE)
DIRECTOR
X OFFICER Sr. V.P. (Former) + 10% OWNER OTHER
7. INDIVIDUAL OR JOINT/GROUP FILING (CHECK APPLICABLE LINE)
X FORM FILED BY ONE REPORTING PERSON
</TABLE>
<TABLE>
<CAPTION>
TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
- ------------ --------- ----------- --------------------------- --------------- --------- ------------
6. OWNER-
SHIP
2. TRANS- 5. AMOUNT OF FORM: 7. NATURE OF
ACTION SECURITIES DIRECT INDIRECT
DATE 3. TRANS- BENEFICIALLY (D) OR BENEFICIAL
(MONTH/ ACTION 4. SECURITIES ACQUIRED (A) OWNED AT INDIRECT OWNER-
1. TITLE OF DAY/ CODE OR DISPOSED OF (D) END OF MONTH (I) SHIP
SECURITY YEAR) (INSTR. 8) (INSTR. 3, 4 AND 5) (INSTR. 3 AND 4) (INSTR. 4) (INSTR. 4)
- ------------ --------- ----------- --------------------------- --------------- --------- ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CODE V AMOUNT (A) OR (D) PRICE
- ------------ --------- ----------- ------- --------- -------- --------------- --------- ------------
Common Stock 5/13/98 S 58,000& D $9.75 14,000# D&
- ------------ --------- ----------- ------- --------- -------- --------------- --------- ------------
* 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.
</TABLE>
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SEC 1474 (7-96)
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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)
<TABLE>
<CAPTION>
2. Conversion or 3. Transaction 5. Number of Derivative
1. Title of Exercise Date Securities Acquired 6. Date Exercisable
Derivative Price of (Month/ 4. Transaction (A) or Disposed and Expiration
Security Derivative Day/ Code of (D) Date
(Instr. 3) Security Year) (Instr. 8) (Instr. 3, 4, and 5) (Month/Day/Year)
- -------------- ---------------- -------------- ------- ------ ----------- ----------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Date Expira-
Exer- tion
Code V (A) (D) cisable Date
- ---------------- ---------------- -------------- ------- ------ ----------- ----------- -------- ----------
Options - Various% Various%
unchanged%
- ---------------- ---------------- -------------- ------- ------ ----------- ----------- -------- ----------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------ ------------- --------------- --------------- --------------
10. Ownership
9. Number of Form of
derivative Derivative
Securities Security 11. Nature of
8. Price of Beneficially Direct (D) Indirect
7. Title and Amount of Derivative Owned at End or Indirect Beneficial
Underlying Securities Security of Month (I) Ownership
(Instr. 3 and 4) (Instr. 5) (Instr. 4) (Instr. 4) (Instr. 4)
- -------------- --------- ------------- --------------- --------------- --------------
Title Amount or
Number of
Shares
- -------------- --------- ------------- --------------- --------------- --------------
<S> <C> <C> <C> <C> <C>
Common Stock 50,000% % 50,000% D
</TABLE>
Explanation of Responses:
& On 5/13/98 sold 58,000 shares of UGLY Common Stock at a sales price of $9.75
per share.
%25,000 options vest over a five (5) year period with 20% vesting on 6/1/97
(granted on 6/1/96) and each 6/1 thereafter at an exercise price of $6.75 per
share. An additional 25,000 options vest over a five (5) year period with 20%
vesting on 12/2/97 (granted on 12/2/96) and each 12/2 thereafter at $17.688 per
share. All options were issued under the UGLY Long Term Incentive Plan
("Plan"). Generally, the options expire six (6) years from the grant date for
the option.
#End of month ownership of 14,000 shares is based on 4/30/98 ownership's ending
balance of 72,000 shares of UGLY Common Stock less 58,000 sold 5/13/98
(72,000 - 58,000 = 14,000).
@Power-of-Attorney forms included with and a part of the filing hereto.
+Effective as of March 1998, resigned as Senior Vice Pres.-Credit of UGLY.
Walter Vonsh
/s/Judith A. Boyle
- --------------------------------
**Signature of Reporting Person
By: Judith A. Boyle 6/4/98
Attorney-in-Fact@ ------
Date
**Intentional misstatements or omiss Date ions 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 is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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SEC 1474(7-96)
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POWER OF ATTORNEY
I hereby appoint Steven P. Johnson, Judith A. Boyle and Steven D. Pidgeon,
and each of them, attorney-in-fact for me, each with full power of substitution,
to prepare, execute and deliver on my behalf reports required to be filed by me
pursuant to Section 16 of the Securities Exchange Act of 1934, as amended
("Section 16"). Among other things, each attorney-in-fact is authorized to file
original reports (either electronically or otherwise), signed by me or on my
behalf, on Forms 3, 4 and 5 with the Securities and Exchange Commission, and to
provide any necessary copies of such signed forms to The NASDAQ Stock Market and
Ugly Duckling Corporation as required by the rules under Section 16 as in effect
from time to time.
This power of attorney is effective from the date hereof until June 30,
1998, unless earlier revoked or terminated.
/S/ WALTER T. VONSH
_______________________
Walter T. Vonsh
Dated: May 5, 1997
