FORM 4
U.S. 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
/_/ Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue.
See Instruction 1(b).
1. Name and Address of Reporting Person*: Brown Carl A.
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(LAST) (FIRST) (MIDDLE)
c/o PanAmSat Corporation One Pickwick Plaza
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(STREET)
Greenwich Connecticut 06830
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(CITY) (STATE) (ZIP)
2. Issuer Name and Ticker or Trading Symbol:
PanAmSat Corporation-SPOT
3. IRS or Social Security Number of Reporting Person (Voluntary):
4. Statement for Month/Year:
July 1998
5. If Amendment, Date of Original:
(Month/Year)
6. Relationship of Reporting Person(s) to Issuer: (Check all applicable)
_____ Director
__X__ Officer (give title below)
_____ 10% Owner
_____ Other (specify below)
Executive Vice President
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 I - Non-Derivative Securities Acquired,
Disposed of, or Beneficially Owned
1. Title of Security:
(Instr. 3)
Common Stock, par value $.01 per share ("Common Stock")
Common Stock
Common Stock
Common Stock
2. Transaction Date:
(Month/Day/Year)
7/15/98
7/15/98
7/15/98
7/15/98
3. Transaction Code:
(Instr. 8)
Code V
M
S
S
S
4. Securities Acquired (A) or Disposed of (D):
(Instr. 3, 4 and 5)
Amount (A) or (D) Price
10,416 A $29.00
6,600 D $52.625
2,816 D $52.50
1,000 D $52.5625
5. Amount of Securities Beneficially Owned at End of Month:
(Instr. 3 and 4)
190
6. Ownership Form: Direct (D) or Indirect (I):
(Instr. 4)
D
D
D
D
7. Nature of Indirect Beneficial Ownership:
(Instr. 4)
Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person,
see Instruction 4(b)(v).
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Table II - Derivative Securities Acquired, Disposed of, or
Beneficially Owned (e.g., puts, calls, warrants, options,
convertible securities)
1. Title of Derivative Security:
(Instr. 3)
Employee Stock Options (right to buy)
Employee Stock Options (right to buy)
2. Conversion or Exercise Price of Derivative Security:
$39.00
$29.00
3. Transaction Date:
(Month/Day/Year)
1/21/98
7/15/98
4. Transaction Code:
(Instr. 8)
Code V
A V
M
5. Number of Derivative Securities Acquired (A) or Disposed of (D):
(Instr. 3, 4 and 5)
(A) (D)
40,000
10,416
6. Date Exercisable and Expiration Date:
(Month/Day/Year)
Date Exercisable Expiration Date
(1) 1/21/08
5/16/98 5/16/07
7. Title and Amount of Underlying Securities:
(Instr. 3 and 4)
Title Amount or Number of Shares
Common Stock 40,000
Common Stock 10,416
8. Price of Derivative Security:
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned at End of Month:
(Instr. 4)
40,000
20,834
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I):
(Instr. 4)
D
D
11. Nature of Indirect Beneficial Ownership:
(Instr. 4)
Explanation of Responses:
(1) These options are exercisable in equal installments over three years
commencing January 21, 1999.
*Carl A. Brown
** Intentional misstatements or omissions /s/ James W. Cuminale
of facts constitute Federal Criminal ---------------------------
Violations. See 18 U.S.C. 1001 and ** Signature of Reporting Person
15 U.S.C. 78ff(a). * By: James W. Cuminale
Authorized Signatory
Date: 8/6/98
Note: File three copies of the 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
valid OMB Number.
