UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
(X) Form 3 Holdings Reported
( ) Form 4 Transactions Reported
1. Name and Address of Reporting Person
McDonald, Garland R.
10865 Ferry Lake Road
Oil City, LA 71061
USA
2. Issuer Name and Ticker or Trading Symbol
FFP Marketing Company, Inc.
FMM
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
December 28, 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Reporting (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
|Transaction| or Disposed of (D) | Securities |ect | Beneficial Ownership |
|Date |Code| | Beneficially |(D)or | |
| | | | A/| | Owned at |Indir | |
| | | Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common shares |12/28/|J(No|38,500 |A |Note 1 |38,500 |D |Note 2 |
|97 |te1)| | | | | | |
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Common shares |12/28/|J(No|99,751 |A |Note 1 |99,751 |I |Note 1 |
|97 |te1)| | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise Pr | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|ice of | | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity | | | Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Options to purchase comm|$2.54 |12/28|J(No|25,000 |A |Note |11/16|Common share|25,000 | |25,000 |D | |
on shares | |/97 |te3)| | |3 |/02 |s | | | | | |
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</TABLE>
Explanation of Responses:
Note 1: On December 28, 1997, FFP Partners, L.P., completed a restructuring
under which the non-real estate
assets and businesses previously owned and conducted by FFP Partners were
transferred to FFP Marketing
Company, Inc. In connection therewith, each holder of FFP Partners units
received one common share of FFP
Marketing for each unit of FFP Partners held on December 28, 1997. The common
shares reflected hereon were
received in connection with this restructuring by Hi-Lo Distributors, Inc.
(144,417 common shares), Gas-Go, Inc.
(49,750 common shares), and FFP Partners Management Company, Inc. (75,210
common shares) and represent
Mr. McDonald's proportionate pecuniary interest in such shares (50% for shares
held by Hi-Lo, 50% for shares
held by Gas-Go, and 3.5% for FFP Partners Management Company). Mr. McDonald is
an officer of Hi-Lo and
Gas-Go and a director of all three companies and has a direct or indirect
ownership interest in each of the
companies.
Note 2: Held by Individual Retirement Account for the benefit of Mr.
McDonald.
Note 3: As a result of the restructuring referred to in Note 1, holders of
options to purchase units of FFP Partners
received options to purchase a like number of common shares of FFP Marketing.
The terms of the options so
acquired are identical to the options to purchase FFP Partners units except
that the exercise price was allocated
between the options to acquire FFP Partners units and FFP Marketing common
shares based on the relative closing
prices on the American Stock Exchange of the two securities for the month
following the restructuring. All options
are exercisable
currently.
SIGNATURE OF REPORTING PERSON
Garland R. McDonald
DATE
February 27, 1998