<PAGE> 1
- ------ ---------------------------
FORM 4 OMB APPROVAL
- ------ ---------------------------
[ ] Check this box if no OMB Number: 3235-0287
longer subject to Expires: September 30, 1998
Section 16. Form 4 Estimated average burden
or Form 5 obligations hours per response .... 0.5
may continue. See ---------------------------
Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
(Print or Type Responses)
- ------------------------------------------------------------------------------------------------------------------------------------
1. Name and Address of Reporting Person 2. Issuer Name and Ticket or Trading Symbol 6. Relationship of Reporting Person(s)
Schnabel, Rockwell A. Pegasus Systems, Inc. (PEGS) to Issuer (Check all applicable)
- --------------------------------------------- ---------------------------------------------- X Director 10% Owner
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- ---
Number of Reporting Month/Year Officer (give Other (Specify
11100 Santa Monica Blvd., Suite 2020 Person (voluntary) May, 1998 ---- title --- below)
- --------------------------------------------- ------------------- below)
(Street) 5. If Amendment,
Los Angeles, CA 90025 Date of Original
- --------------------------------------------- -------------------- (Month/Year) --------------------------------
(City) (State) (Zip) 7. Individual or Joint/Group Filing
------------- (Check Applicable Line)
Form filed by One Reporting
--- Person
Form filed by More than One
--- Reporting Person
- ------------------------------------------------------------------------------------------------------------------------------------
TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Security 2. Trans- 3. Transac- 4. Securities Acquired (A) 5. Amount of Se- 6. Owner- 7. Nature
(Instr. 3) action tion or Disposed of (D) curities Benefi- ship of In-
Date Code (Instr. 3, 4 and 5) cially Owned at Form: direct
(Instr. 8) End of Month Direct Benefi-
(Month/ (Instr. 3 and 4) (D) or cial
Day/ --------------------------------------- Indirect Owner-
Year) Code V Amount (A) or Price (I) ship
(D) (Instr. 4) (Instr.
4)
Common Stock 5/12/98 J(1) 19,673 A D N/A
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 5/12/98 J(2) 1,534 A 31,207* D N/A
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
(1) On May 12, 1998, Information Associates, L.P. distributed 825,461 shares to its partners, one of which was Trident Capital
Management, L.L.C. On that date, Trident Capital Management, L.L.C. distributed the Pegasus shares to its partners, which
included Rockwell A. Schnabel.
(2) On May 12, 1998, Information Associates, C.V. distributed 23,036 shares to its partners, one of which was Trident Capital
Management, L.L.C. On that date, Trident Capital Management, L.L.C. distributed the Pegasus shares to its partners, which
included Rockwell A. Schnabel.
*Aggregate beneficial ownership of Reporting Person. Page 1 of 2
SEC 1474 (7-96)
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
FORM 4 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C> <C> <C>
====================================================================================================================================
1. Title of Derivative 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date Exer- 7. Title and Amount 8. Price
Security sion or action action Derivative cisable and of Underlying of
(Instr. 3) Exercise Date Code Securities Ac- Expiration Securities Deriv-
Price of (Month/ (Instr. 8) quired (A) or Date (Instr. 3 and 4) ative
Deriv- Day/ Disposed of (D) (Month/Day/ Secur-
ative Year) (Instr. 3, 4, Year) ity
Security and 5) (Instr. 5)
-----------------------------------
Date Expira- Amount or
-------------------------- Exer- tion Title Number of
Code V (A) (D) cisable Date Shares
- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option (Right to Common
buy) $22.63 5/5/98 A V 2,000 * 5/5/01 Stock 2,000
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
<C> <C> <C>
9. Number of 10. Ownership 11. Nature of
Derivative Form of Indirect
Securities Derivative Beneficial
Beneficially Security: Ownership
Owned at End Direct (D) (Instr. 4)
of Month or Indirect (I)
(Instr. 4) (Instr. 4)
=======================================================================================================
4,000 D N/A
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
=======================================================================================================
Explanation of Responses:
/s/ Ric L. Floyd 6/10/98
* This Option may be exercised, in whole or in part, and will be 100% vested as of the ------------------------------- -------
date of the 1999 Annual Stockholders' Meeting of Pegasus Systems, Inc. **Signature of Reporting Person Date
** Intentional misstatements or omissions 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 provided 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 Page 2 of 2
valid OMB number. SEC 1474 (7-96)
</TABLE>
