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
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1. Name and Address of Reporting Person
BENSON T. CRAIG
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(Last) (First) (Middle)
P.O. BOX 130548
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(Street)
HOUSTON TEXAS 77219-0548
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
PINNACLE GLOBAL GROUP, INC. ("PING") (1)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
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5. If Amendment, Date of Original (Month/Year)
January 1999
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] 10% Owner
[X] Director
[ ] 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
<TABLE>
<S> <C>
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1. 2. 3. 4. 5. 6. 7.
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Amount of Owner-
Securities ship
Trans- Trans- Securities Acquired (A) Beneficially Form:
action action or Disposed of (D) Owned at Direct Nature of
Date Code (Instr. 3, 4 and 5) End of (D) or Indirect
Title of (Month/ (Instr. 8) ---------------------------- Month Indirect Beneficial
Security Day/ ---------- Amount (A) or Price (Instr. (I) Ownership
(Instr. 3) Year) Code V (D) 3 and 4) (Instr. 4) (Instr. 4)
- --------------------- -------- ---- ---- ----------- ------ --------- ----------- ---------- ----------
Common Stock 01/29/99 J(2) 39,847 A (2) 39,847(3) D
</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)
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Page 2
FORM 4 (continued)
TABLE II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g. puts, calls, warrants, options, convertible securities)
<TABLE>
<S> <C>
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1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
- ---------- -------- -------- -------- ---------- ------------ -------------- ------ ---------- --------- ----------
Title and Ownership
Number of Date Exer- Amount of Form of
Derivative cisable and Underlying Number of Deriv-
Securities Expiration Securities Price Derivative ative
Conver- Trans- Acquired (A) Date (Month/ (Instr. 3 of Securities Security:
sion or Trans- action or Disposed Day/Year) and 4) Deriv- Benefi- Direct
Exercise action Code of (D) -------------- -------------- ative cially (D) or Nature of
Title of Price of Date (Instr. (Instr. 3, Date Amount Secur- Owned at Indirect Indirect
Derivative Deriv- (Month/ 8) 4 and 5) Exer- Expir- or Num- ity End of (I) Beneficial
Security ative Day/ -------- ---------- cis- ation ber of (Instr. Month (Instr. Ownership
(Instr. 3) Security Year) Code V (A) (D) able Date Title Shares 5) (Instr. 4) 4) (Instr. 4)
- ---------- -------- -------- ---- --- ----- ---- ------- -------- ------- ------ ------ ---------- -------- ----------
COMMON STOCK $10.00 1/29/99 J(4) 7,500 (5) 12/20/99 COMMON 7,500 (4) 7,500 D
OPTION (RIGHT STOCK
TO BUY)
</TABLE>
Explanation of Responses:
(1) On January 29, 1999, Pinnacle Global Group, Inc. ("PGG") became the
successor of TEI, Inc. ("TEI"; trading symbol "TANK") pursuant to a merger (the
"Merger"). The Merger and other transactions resulted in PGG becoming a parent
holding company of TEI and other entities including Pinnacle Management & Trust
Company, a Texas chartered private trust company ("PMT"). Pursuant to Rule 12g-3
under the Securities Exchange Act of 1934, PGG is the successor issuer to TEI.
(2) 1,750 shares were received in exchange for shares of TEI common stock
pursuant to the Merger with each share of TEI common stock, priced at $2.125 per
share at market close on 1/28/99, exchanged for 0.25 of a share of PGG common
stock. Pursuant to other transactions, an additional 38,097 shares were received
in exchange for 6,489 shares of PMT common stock valued at $46.97 per share.
(3) Since the date of the reporting person's last ownership report, the
reporting person has become divorced and no longer has a reportable indirect
beneficial interest in securities indirectly beneficially owned by his ex-wife
through the Holly Waltrip Trust and the Robert L. Waltrip Trust #1.
(4) This option was assumed by PGG in the Merger at one fourth the original
number of shares and is exercisable for shares of PGG common stock at four times
the original exercise price per share. All other terms remain the same.
(5) Vested 1/4 at issue date of 12/20/94 and 1/4 on each of first three
anniversaries.
/s/ T. CRAIG BENSON 2/10/99
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** 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.
