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OMB APPROVAL
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OMB NUMBER 3235-0287
EXPIRES: SEPTEMBER 30, 1998
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE . . . . 0.5
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FORM 4 U.S. SECURITIES AND EXCHANGE COMMISSION
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STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] CHECK THIS BOX IF NO LONGER
SUBJECT TO SECTION 16. FORM 4
OR FORM 5 OBLIGATIONS MAY
CONTINUE. SEE INSTRUCTION 1(b).
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
(Print or Type Responses)
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<S> <C> <C>
1. Name and Address of Reporting Person 2. Issuer Name and Ticker or Trading Symbol 3. IRS or Social Security Number of
Reporting Person (Voluntary)
Galant, Jerome L. Pegasus Systems, Inc. (PEGS)
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(Last) (First) (Middle)
3811 Turtle Creek Blvd., Suite 1100
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(Street)
Dallas, Texas 75219
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(City) (State) (Zip)
4. Statement for Month/Year 5. If Amendment, Date of 6. Relationship of Reporting Person to Issuer
Original (Month/Year) (Check all applicable)
September, 1997
------------------------ --------------------- Director 10% Owner
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X Officer (give title below) Other (specify below)
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Chief Financial Officer
7. Individual or Joint/Group Filing (Check Applicable)
Form filed by One Reporting Person
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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 2. Transaction Date 3. Transaction Code 4. Securities Acquired (A) or
(Instr. 3) (Month/Day/Year) (Instr.8) Disposed of (D) (Instr. 3, 4
and 5)
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Code / V Amount / (A) or (D) / Price
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5. Amount of Securities 6. Ownership Form: Direct 7. Nature of Indirect
Beneficially Owned (D) or Indirect (I) Beneficial Ownership
at End of Month (Instr. 4) (Instr. 4)
(Instr. 3 and 4)
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<S> <C> <C> <C>
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly Page 1 of 2
* If the form filed by more than one reporting person, see Instruction 4(b)(v). SEC 1474 (7/96)
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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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<CAPTION>
1. Title of Derivative 2. Conversion or 3. Transaction 4. Transaction 5. Number of Derivative 6. Date Exercisable and
Security (Instr. 3) Exercise Price Date (Month/ Code (Instr. 8) Securities Acquired Expiration Date
of Derivative Day/Year) (A) or Disposed of (Month/Day/Year)
Security (D) (Instr. 3, 4,
and 5)
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Code / V (A) / (D) Date Expiration
Exercisable Date
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
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Employee Stock Option $15.30 9/23/97 A V 15,000 * 12/31/06
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7. Title and Amount 8. Price of 9. Number of 10. Ownership 11. Nature of
of Underlying Derivative Derivative Form of Indirect
Securities (Instr. Security Securities Derivative Beneficial
3 and 4) (Instr. 5) Beneficially Security: Ownership
Owned at Direct (D) (Instr. 4)
Amount or End of or Indirect
Number of Month (I) (Instr. 4)
Title Shares (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C>
Common Stock 15,000 15,000 D N/A
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Explanation of Responses:
* This Option may be exercised, in whole or in part, in accordance with
the following schedule: Twenty-five percent (25%) of the shares shall
vest twelve (12) months after the Vesting Commencement Date and one
twelfth (1/12) of the shares shall vest each quarter thereafter.
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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<S> <C>
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** Signature of Date
Reporting Person
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 Page 2 of 2
form are not required to respond unless the form displays the currently valid OMB Number. SEC 1474 (7/96)
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