U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
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 box if no longer subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Chavkin Arnold L.
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(Last) (First) (Middle)
c/o Chase Capital Partners
1221 Avenue of the Americas-40th Floor
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(Street)
New York New York 10020
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(City) (State) (Zip)
R&B Falcon Corporation ("FLC")
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2. Issuer Name and Ticker or Trading Symbol
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
May 2000
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4. Statement for Month/Year
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [_] 10% Owner
[_] Officer (give title below) [_] Other (specify 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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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock N/A N/A N/A N/A N/A N/A 667,064 I (FN 1)
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Senior Cumulative
Redeemable Preferred Stock N/A N/A N/A N/A N/A N/A 25,935 I (FN 2)
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
(Form 4-07/99)
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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<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common
Warrants $9.50 N/A N/A N/A N/A N/A Immed 5/1/09 Stock 875,000 159.95 25,000 I (FN 2)
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Director Common
Stock Options $6.25 N/A N/A N/A N/A N/A 5/2/95 2/7/05 Stock 17,700 N/A 17,700 D
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Director Common
Stock Options $7.031 N/A N/A N/A N/A N/A (FN 3) 4/7/09 Stock 43,000 N/A 43,000 D
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Director
Stock Options Common
(right to purchase) $10.062 N/A N/A N/A N/A N/A (FN 4) 5/19/09 Stock 17,000 N/A 17,000 D
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Options (right J Common
to purchase) $12.656 3/9/00 (FN 5)5,500 N/A 7/28/2000 1/28/10 Stock 5,500 N/A 5,500 D
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</TABLE>
Explanation of Responses:
(1) These shares, which include shares awarded to the reporting person as
director's compensation, are owned by Chemical Investments, Inc. ("CII").
A portion of the amount shown may be deemed attributable to the reporting
person because the reporting person is a partner of Chase Capital Partners
("CCP"), the investment manager of CII. Mr. Chavkin disclaims any
pecuniary interest in the shares owned by CII.
(2) Prior to an internal reorganization effective as of January 1, 2000, the
securities were beneficially owned by Chase Equity Associates, LP
("CEA, LP"). The internal reorganization changed CEA, LP's name and form of
organization but did not alter the proportionate interests of its ultimate
security holders. As of March 13,2000, CEA, LLC reverted to a limited
partnership form of organization, the sole stockholder of the non-managing
member of CEA, LLC became the sole limited partner of CEA, LP, and CCP
became the general partner of CEA, LP. The actual pro rata portion of
CEA, LP's beneficial ownership that may be deemed to be attributable to the
reporting person is not readily determinable because it is subject to
several variables, including the internal rate of return and vesting of
interests within CCP and CEA, LLC. The reporting person disclaims
beneficial ownership of the securities to the extent it exceeds his
pecuniary interest therein.
(3) One third of the options vest on each October 7, 1999, April 7, 2000,
and April 7, 2001.
(4) One third of the options vest on each November 19, 1999, May 19, 2000
and May 19, 2001.
(5) Award of stock options pursuant to the Company's 1999 Director Stock Option
Plan, which was approved by the Company's stockholders at the Annual
Meeting of Stockholders on May 19, 1999. The reporting person is
contractually obligated to exercise the options at the request of, and
to transfer any shares issued under the stock options to, CII.
/s/ Arnold L. Chavkin 6/9/00
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Arnold L. Chavkin Date
** 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 provided is insufficient, see Instruction 6 for procedure.
