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- -------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION -----------------------------
FORM 4 WASHINGTON, D.C. 20549 OMB APPROVAL
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/ / CHECK THIS BOX IF NO STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB NUMBER: 3235-0287
LONGER SUBJECT TO EXPIRES: SEPTEMBER 30, 1998
SECTION 16. FORM 4 OR Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, ESTIMATED AVERAGE BURDEN
FORM 5 OBLIGATIONS MAY Section 17(a) of the Public Utility Holding Company Act of 1935 or HOURS PER RESPONSE .... 0.5
CONTINUE. SEE Section 30(f) of the Investment Company Act of 1940 -----------------------------
INSTRUCTION 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person* 2. Issuer Name AND Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
to Issuer (Check all applicable)
Freadhoff, Keith D. NETGATEWAY, INC. (NGWY) X Director X 10% Owner
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(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- title ---- (specify
Number of Reporting Month/Year below) below
Person (Voluntary) Chmn., Board of Director
300 Oceangate #500 March 2000 ----------------- ------------------
- -------------------------------------------- --------------------- 7. Individual or Joint/Group Filing
(Street) 5. If Amendment, (Check Applicable Line)
Date of Original _X_Form filed by One Reporting Person
(Month/Year) ___Form filed by More than One
Long Beach, CA 90802 Reporting Person
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(City) (State) (Zip) TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 8) Owned at Direct Bene-
(Month/ End of (D) or ficial
Day/ ------------------------------------------- Month Indirect Owner-
Year) (A) or (I) ship
Code V Amount (D) Price (Instr. 3 (Instr. 4) (Instr. 4)
and 4)
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Common Stock 468,549 D
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Common Stock 825,000 I by Managed
Account
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Common Stock 03/13/00 J 106,000 D $1.00 456,666 I by Trust-see
FN 1
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, SEE Instruction 4(b)(v). Page 1 of 3 pages SEC 1474 (7-97)
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 CONTROL NUMBER.
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FORM 4 (CONTINUED) 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 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action tion Code ative Securities Ac- cisable and Ex-
Exercise Date (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ posed of (D) (Month/Day/
Deriv- Day/ (Instr. 3, 4, and 5) Year)
ative Year)
Security
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Date Expira-
-------------------------------------- Exer- tion
cisable Date
Code V (A) (D)
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7. Title and Amount of Under- 8. Price 9. Number 10. Owner- 11. Nature
lying Securities of of Deriv- ship of In-
(Instr. 3 and 4) Deriv- ative Form direct
ative Securi- of De- Bene-
Secur- ties rivative ficial
ity Bene- Secu- Own-
(Instr. ficially rity: ership
5) Owned Direct (Instr. 4)
at End (D) or
Amount or of Indi-
Title Number of Month rect (I)
Shares (Instr. 4) (Instr. 4)
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Explanation of Responses:
See continuation page(s) for footnotes
/s/ Keith D. Freadhoff 04/10/2000
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**Intentional misstatements or omissions of facts constitute **Signature of Reporting Person Date
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.
Page 2 of 3 pages Page 2
SEC 1474 (7-97)
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Freadhoff, Keith D. NETGATEWAY, INC. (NGWY) Page 3 of 3 pages
300 Oceangate #500 February 2000
Long Beach, CA 90802
In December 1998, Messrs. Freadhoff, Beebe, Danks, and Vanderhoff, contributed
to the trust (the "Master Trust") 450,000, 100,000, 100,000, and 100,000 shares
of common stock, respectively. The trustee of the Master Trust is Mr.
Freadhoff and these individuals are the beneficiaries of this trust. This
trust sold 350,000 of these shares to each of two trusts the trustee of which
is Mr. Freadhoff and the beneficiary of one of which is Donald M. Corliss, Jr.,
our President and one of our Directors, and the beneficiary of one of which is
David Bassett-Parkins, our Chief Financial Officer and Chief Operating Officer,
and one of our Directors, in exchange for a promissory note from each of these
trusts in the principal amount of $350,000. Each of these individuals has
delivered to their respective trust a promissory note in the principal amount
of $350,000. The Master Trust sold the remaining 50,000 of these shares to a
trust the trustee of which is Mr. Freadhoff and the beneficiary of which is
Hanh Ngo, our Executive Vice President-Operations, in exchange for a promissory
note from this trust in the principal amount of $50,000. Ms. Ngo has delivered
to this trust a promissory note in the principal amount of $50,000. The trusts
(the "Individual Trusts") of which Messrs. Corliss and Bassett-Parkins and Ms.
Ngo are beneficiaries are, by their terms, permitted to deliver the shares of
common stock to their beneficiaries in three equal installments for a purchase
price of $1.00 per share on or after January 1, 2000, 2001, and 2002 (subject
to acceleration in the event of a change of control), provided that the
individual beneficiary of the Individual Trust in question has not voluntarily
terminated their employment with us prior to these dates. These individuals
will satisfy the purchase price for their shares by means of the repayment of
their respective promissory note to the respective Individual Trust. In the
event that any of these beneficiaries should so terminate their employment with
us prior to these dates, the trustee of the respective Individual Trust will
return these shares in such Individual Trust to the Master Trust in
satisfaction of the promissory note from this Individual Trust to the Master
Trust. The Master Trust will then deliver these shares to its beneficiaries in
proportion to their contributions of shares of common stock to the Master
Trust. In January 2000, a new individual trust (the "Camblin Trust") was
formed, the trustee of which is Mr. Freadhoff and the beneficiary of which is
Roy W. Camblin III, the Company's Chief Executive Officer and a Director. At
that time, the Master Trust contracted to sell to the Camblin Trust 100,000
shares of Common Stock in exchange for a promissory note in the amount of
$425,000. Messrs. Freadhoff and Beebe intend to contribute 50,000 shares of
Common Stock each to the Master Trust in respect of this sale to the Camblin
Trust. Mr. Camblin has delivered to the Camblin Trust a promissory note in the
amount of $425,000. The terms of Mr. Camblin's trust are substantially similar
to the description of the Individual Trusts set forth above.
The reported transaction reflects sales from the Individual Trusts of which Mr.
Bassett-Parkins and Ms. Ngo are beneficiaries to Mr. Bassett-Parkins and Ms.
Ngo respectively.
