<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 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
1. Name and Address of Reporting Person*:
<PAGE> 2
VONSH, WALTER T.+
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: MARCH 1998
5. If Amendment, Date of Original (Month/Year):
6. Relationship of Reporting Person to Issuer: OFFICER: SENIOR VICE PRESIDENT
- CREDIT
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
- ------------------- ---------- -------------- ------------------------ ------------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Code V Amount A/D Price
- ------------------- ---------- -------------- ---------- --- ------- ------------- ----------- ------------
UGLY Common Stock Various -- -- Various Varous 72,000 D
(restricted) -
UNCHANGED
- ------------------- ---------- -------------- ------------------------ ------------- ----------- ------------
</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> 3
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
Number of
Conversion Derivative
or Securities Date
Exercise Acquired Exercisable Title and
Title of Price of (A) or and Amount of Price of
Derivative Derivative Transaction Transaction Disposed Expiration Underlying Derivative
Security Security Date Code of (D) Date Securities Securities
- -------------- -------------- ------------ ------------------ ----------- ------------------ -------------------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Date Expira Amount or
Exerci -tion Number of
Code V (A) (D) -sable Date Title Shares
- -------------- -------------- ------------ ------------------ ----------- ------------------ -------------------- ----------
OPTIONS - Various* Various* * Common 50,000*
UNCHANGED* Stock
- -------------- -------------- ------------ ------------------ ----------- ------------------ -------------------- ----------
</TABLE>
<TABLE>
<CAPTION>
Number of
Derivative Ownership
Securities Form of
Benefi- Derivative
cially Security: Nature of
Owned Direct Indirect
at End of (D) or Beneficial
Month Indirect(I) Ownership
----------- ----------- -----------
<S> <C> <C>
----------- ----------- -----------
50,000* D
----------- ----------- -----------
</TABLE>
Explanation of Responses:
*25,000 options vest over a five year period with 20% vesting on June
1, 1997 (granted on June 1, 1996) and each June 1 thereafter at an
exercise price of $6.75 per share. An additional 25,000 options vest
over a five year period with 20% vesting on December 2, 1997 (granted
on December 2, 1996) and each December 2 thereafter at $17.688 per
share. All options were issued under the UGLY Long Term Incentive Plan
("Plan"). Generally, the options expire six years from grant date for
the option.
@Power-of-attorney form included with and part of the filing hereto.
+ Effective as of March 16, 1998, resigned as Senior Vice President-
Credit of UGLY.
WALTER T.VONSH
/s/ Judith A. Boyle@, Attorney-in-Fact
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**Signature of Reporting Person
4/10/98
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Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 19 U.S.C. 788(a).
<PAGE> 4
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
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Walter T. Vonsh
Date: 5-5, 1997
