---------------------------
OMB APPROVAL
---------------------------
OMB Number: 3235-0287
Expires: December 31, 2001
Estimated average burden
hours per response.... 0.5
---------------------------
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).
(Print or Type responses)
--------------------------------------------------------------------------------
1. Name and Address of Reporting Person*
Tucker Lawrence C.
--------------------------------------------------------------------------------
(Last) (First) (Middle)
c/o Brown Brothers Harriman & Co., 59 Wall Street
--------------------------------------------------------------------------------
(Street)
New York New York 10005
--------------------------------------------------------------------------------
(City) (State) (Zip)
--------------------------------------------------------------------------------
2. Issuer Name and Ticker or Trading Symbol
Z-Tel Technologies, Inc. (ZTEL)
--------------------------------------------------------------------------------
3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
--------------------------------------------------------------------------------
4. Statement for Month/Year
November/2000
--------------------------------------------------------------------------------
5. If Amendment, Date of Original (Month/Year)
================================================================================
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
--------------------------------------------------------------------------------
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
================================================================================
<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)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
</TABLE>
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).
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.
(Over)
SEC 1474 (3/99)
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
================================================================================
<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)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Director Stock
Options (Right Common
to buy) $8.81 11/10/00 A V 1100 (1) 11/10/10 Stock 1100 1100 D
------------------------------------------------------------------------------------------------------------------------------------
Preferred Stock Common
(2) (10) (3) 11/13/00 P 4,166,667 Immed. N/A Stock (4) $12 4,166,667(5) I (6)
------------------------------------------------------------------------------------------------------------------------------------
Common
Warrant (7) 11/13/00 P 1 Immed. 11/13/05 Stock (8) (9) 1(5) I (6)
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
</TABLE>
Explanation of Responses:
(1) Vesting in four equal annual installments beginning on November 10, 2001.
(2) Par value $.01 per share.
(3) $12 per share of Preferred Stock divided by the Conversion Price, set at
$12, but subject to adjustment.
(4) 4,166,667 shares, subject to adjustment.
(5) Tucker is a general partner of Brown Brothers Harriman & Co. ("BBH"), the
general partner of The 1818 Fund III, L.P., and, as such, his pecuniary
interest in the Preferred Stock and Warrant is limited to his percentage
interest in BBH's interest in such securities.
(6) By The 1818 Fund III, L.P.
(7) $13.80, subject to adjustment.
(8) Exercisable for up to 2,083,333 shares, subject to adjustment.
(9) Issued in consideration for the 1818 Fund III, L.P.'s purchase of Preferred
Stock on November 13, 2000.
(10) The 1818 Fund III, L.P. has the option, for a ninety (90) day period
following November 13, 2000, to purchase an additional 2,083,333 shares of
Preferred Stock together with warrants to purchase one-half of a share of
Common Stock for each share of Preferred Stock to be issued. The option is
subject to the fulfillment of certain closing conditions.
/s/ Lawrence C. Tucker December 5, 2000
--------------------------------------------- -----------------------
**Signature of Reporting Person 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.
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
