FORM 4
(X) Check this box if no longer
subject to Section 16. Form 4
or Form 5 obligations may continue.
See Instruction 1(b).
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION _____________________
WASHINGTON, D.C. 20549 | OMB APPROVAL |
|_____________________|
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |OMB NUMBER: 3235-0287|
|EXPIRES: |
| DECEMBER 31, 2001 |
Filed pursuant to Section 16(a) of the |ESTIMATED AVERAGE |
Securities Exchange Act of 1934, |BURDEN HOURS |
Section 17(a) of the Public Utility |PER RESPONSE ... 0.5 |
Holding Company Act of 1935 |_____________________|
or Section 30(f) of the Investment
Company Act of 1940
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1. Name and Address of Reporting Person
Wellek Richard L.
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(Last) (First) (Middle)
440 North Orleans
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(Street)
Chicago IL 60610
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Prism Financial Corporation / PRFN
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3. I.R.S. Identification Number of Reporting Person, if an entity
(Voluntary)
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4. Statement for Month/Year
April / 2000
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( X) Director
( ) 10% Owner
( ) Officer (give title below)
( ) Other (specify title below)
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7. Individual, or Joint/Group Filing (Check Applicable Line)
( X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF,
OR BENEFICIALLY OWNED
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1. Title of Security (Instr. 3)
Common Stock
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2. Transaction Date (Month/Day/Year)
(1) 2/17/00
(2) 4/20/00
(3) 4/20/00
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3. Transaction Code (Instr. 8)
(1) A,V
(2) U
(3) U
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)
(1) 3,147 shares A
(2) 10,000 shares D (See Note 1.) $7.50 per share
(3) 3,147 shares D $7.50 per share
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5. Amount of Securities Beneficially Owned at End of Month
(Instr. 3 and 4)
0
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6. Ownership Form: Direct(D) or Indirect(I) (Instr. 4)
D
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
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TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY
OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security (Instr. 3)
(1) Non-Employee Director Stock Option (right to buy)
(2) Non-Employee Director Stock Option (right to buy)
(3) Non-Employee Director Stock Option (right to buy)
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2. Conversion or Exercise Price of Derivative Security
(1) $3.375
(2) $3.375
(3) $14.00
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3. Transaction Date (Month/Day/Year)
(1) 1/21/00
(2) 4/25/00
(3) 4/25/00
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4. Transaction Code (Instr. 8)
(1) A, V
(2) J (See Note 2.)
(3) J (See Note 3.)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
(1) 20,000 A
(2) 20,000 D
(3) 5,000 D
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6. Date Exercisable and Expiration Date (Month/Day/Year)
(1) and (2) exercisable: (See Note 2.) expiration: 1/21/10
(3) exercisable: (See Note 3.) expiration: 5/24/09
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7. Title and Amount of Underlying Securities (Instr. 3 and 4)
(1) Common Stock, 20,000 shares
(2) Common Stock, 20,000 shares
(3) Common Stock, 5,000 shares
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8. Price of Derivative Securities (Instr. 5)
(2) $4.125
(3) (See Note 3.)
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9. Number of Derivative Securities Beneficially Owned at End of Month
(Instr. 4)
0
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10. Ownership Form of Derivative Security: Direct(D) or Indirect(I)
(Instr. 4)
D
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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EXPLANATION OF RESPONSES:
Note 1. Disposition of shares held by trust.
Note 2. This option, which provided for vesting upon a change of control
of the issuer, was canceled pursuant to the merger agreement
among Prism Financial Corporation, Prism Acquisition Subsidiary,
Inc. and Royal Bank of Canada (the "Merger Agreement") in
exchange for a cash payment of $82,500, representing the
difference between the exercise price of the option and the cash
merger consideration provided for by the Merger Agreement.
Note 3. This option was cancelled with no consideration, pursuant to the
Merger Agreement. Under the applicable option agreement, vesting
was scheduled in five equal annual installments beginning on May
24, 2000.
/s/ Richard L. Wellek 5/10/00
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** SIGNATURE OF REPORTING PERSON DATE
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** 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 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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