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FORM 4 OMB APPROVAL
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/ / Check this box if no OMB Number: 3235-0287
longer subject to Expires: September 30, 1998
Section 16. Form 4 Estimated average burden
or Form 5 obligations hours per response .... 0.5
may continue. See ---------------------------
Instruction 1(b).
UNITED STATES 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
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<S> <C> <C> <C> <C> <C> <C>
(Print or Type Responses)
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1. Name and Address of Reporting Person* 2. Issuer Name and Ticket or Trading Symbol 6. Relationship of Reporting Person(s)
Davis, John F. III Pegasus System, Inc. (PEGS) to Issuer (Check all applicable)
- --------------------------------------------- ---------------------------------------------- Director 10% Owner
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- ---
Number of Reporting Month/Year X Officer (give Other (Specify
3811 Turtle Creek Blvd., Suite 1100 Person May, 1998 ---- title --- below)
- --------------------------------------------- (voluntary) ------------------- below)
(Street) 5. If Amendment,
Dallas, Texas 75219-4419 Date of Original President and Chief Executive Officer
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(City) (State) (Zip) 7. Individual or Joint/Group Filing
------------- (Check Applicable Line)
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 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. 8) End of Month Direct Benefi-
(Month/ (Instr. 3 and 4) (D) or cial
Day/ --------------------------------------- Indirect Owner-
Year) Code V Amount (A) or Price (I) ship
(D) (Instr. 4) (Instr.
4)
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Common Stock 5/13/98 S 2,000 D $25.00 201,000 D N/A
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Common Stock 5/14/98 S 3,000 D $25.25 201,000 D N/A
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Common Stock 5/14/98 S 2,000 D $26.00 201,000 D N/A
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Common Stock 5/14/98 S 5,000 D $25.75 201,000 D N/A
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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 is 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)
<S> <C> <C> <C> <C> <C> <C> <C>
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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 Ac- Expiration Securities Deriv-
Price of (Month/ (Instr. 8) quired (A) or Date (Instr. 3 and 4) ative
Deriv- Day/ Disposed of (D) (Month/Day/ Secur-
ative Year) (Instr. 3, 4, Year) ity
Security and 5) (Instr. 5)
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Date Expira- Amount or
-------------------------- Exer- tion Title Number of
Code V (A) (D) cisable Date Shares
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<S> <C> <C> <C>
1. Title of Derivative 9. Number of 10. Ownership 11. Nature of
Security derivative Form of Indirect
(Instr. 3) Securities Derivative Beneficial
Beneficially Security: Ownership
Owned at End Direct (D) (Instr. 4)
of Month or Indirect (I)
(Instr. 4) (Instr. 4)
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Explanation of Responses:
Intentional misstatements or omissions of facts constitute Federal Criminal Violations /s/ Ric L. Floyd 6/9/98
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------- -------
**Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be manually signed. Page 2 of 2
If space is insufficient, see Instruction 6 for procedure. SEC 1474 (7-96)
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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