<PAGE> 1
- ------
FORM 4
- ------
/ / CHECK BOX IF NO U.S. SECURITIES AND EXCHANGE COMMISSION
LONGER SUBJECT TO WASHINGTON, DC 20549
SECTION 16. FORM
4 OR FORM 5 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
OBLIGATIONS MAY
CONTINUE. SEE Filed pursuant to Section 16(a) of the Securities
INSTRUCTION 1(b) 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>
- ------------------------------------------------------------------------------------------------------------------------------------
1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person to
Karl, Jr. Frederick B. Medical Manager Corporation "MMGR" Issuer (Check all applicable)
- ------------------------------------------- ---------------------------------------------- X Director 10% Owner
(Last) (First) (Middle) 3. IRS Identification 4. Statement for ---- ---
c/o Medical Manager Corporation Number of Reporting Month/Year X Officer (give Other (specify
3001 North Rocky Point Drive East, Suite 400 Person, if an Entity 2/99 ---- title --- below)
- ------------------------------------------- (Voluntary) ------------------- below)
(Street)
Tampa, FL 33607 5. If Amendment, Vice President and General Counsel
- ------------------------------------------- Date of Original ----------------------------------
(City) (State) (Zip) (Month/Year)
7. Individual or Joint/Group Filing
------------------ (Check applicable line)
X Form Filed by one
---- Reporting Person
Form Filed by more than
---- one Reporting Person
- ------------------------------------------------------------------------------------------------------------------------------------
TABLE 1 -- 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. End of Month Direct Benefi-
(Month/ 8) (Instr. 3 and 4) (D) or cial
Day/ ---------------------------- Indirect Owner-
Year) Amount (A) or Price (I) ship
(D) (Instr. 4) (Instr.
4)
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 2/27/99 M 6,000 (A) $11.00 -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 2/27/99 S 3,000 (D) $31.1250 -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 2/27/99 S 3,000 (D) $31.0625 500 D N/A
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
*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. (Over)
(Print or Type Responses)
</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 Expiration Securities Deriv-
Price of (Month/ (Instr. Acquired (A) Date (Instr. 3 and 4) ative
Deriv- Day/ 8) or Disposed (Month/Day/ Secur-
ative Year) of (D) Year) ity
Security (Instr. 3, (Instr. 5)
4, and 5) -----------------------------------
Date Expira- Amount or
--------------- Exer- tion Title Number of
Code V (A) (D) cisable Date Shares
- ------------------------------------------------------------------------------------------------------------------------------------
Options $11.00/sh. 2/27/99 M -- 6,000 (1) 1/30/07 Common 6,000 --
Stock
- ------------------------------------------------------------------------------------------------------------------------------------
Options $29 9/16/sh. -- -- -- -- -- (2) 4/30/08 Common -- --
Stock
- ------------------------------------------------------------------------------------------------------------------------------------
Options $17.875/sh. -- -- -- -- -- (3) 9/3/08 Common -- --
Stock
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
<CAPTION>
<C> <C> <C> <C>
1. Title of Derivative 9. Number of 10. Ownership 11. Nature of
Security Derivative of Derivative Indirect
(Instr. 3) Securities Security: Beneficial
Beneficially Direct (D) Ownership
Owned at End or Indirect (I) (Instr. 4)
of Month (Instr. 4)
(Instr. 4)
- -------------------------------------------------------------------------------------------------------
Options 127,000 D N/A
- -------------------------------------------------------------------------------------------------------
Options 5,000 D N/A
- -------------------------------------------------------------------------------------------------------
Options 10,000 D N/A
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
Explanation of Responses:
(1) The options were granted on February 4, 1997 and vest in four
equal annual installments beginning on August 4, 1997, subject to
accelerated vesting in certain circumstances.
(2) The options were granted on April 30, 1998 and vest in four
equal annual installments begining on October 30, 1998, subject to
accelerated vesting in certain circumstances.
(3) The options were granted on September 3, 1998 and vest in four
equal annual installments beginning on March 3, 1999, subject to
accelerated vesting in certain circumstances.
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. /s/ Frederick B. Karl, Jr. 3/10/99
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------- -------
**Signature of Reporting Person Date
Frederick B. Karl, Jr.
Note. File three copies of this form, one of which must be manually signed. Page 2
If space provided is insufficient, see Instruction 6 for procedure.
</TABLE>
