NETGATEWAY INC, 4, 2000-04-10

NETGATEWAY INC
4, 2000-04-10
COMPUTER INTEGRATED SYSTEMS DESIGN

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- -------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION -----------------------------
FORM 4 WASHINGTON, D.C. 20549 OMB APPROVAL
- -------- -----------------------------
/ / CHECK THIS BOX IF NO STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB NUMBER: 3235-0287
LONGER SUBJECT TO EXPIRES: SEPTEMBER 30, 1998
SECTION 16. FORM 4 OR Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, ESTIMATED AVERAGE BURDEN
FORM 5 OBLIGATIONS MAY Section 17(a) of the Public Utility Holding Company Act of 1935 or HOURS PER RESPONSE .... 0.5
CONTINUE. SEE Section 30(f) of the Investment Company Act of 1940 -----------------------------
INSTRUCTION 1(b).
(Print or Type Responses)
- ------------------------------------------------------------------------------------------------------------------------------------
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1. Name and Address of Reporting Person* 2. Issuer Name AND Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
to Issuer (Check all applicable)
X Director 10% Owner
Bassett-Parkins, David J. NETGATEWAY, INC. (NGWY) ---- ----
- --------------------------------------------------------------------------------------------- X Officer (give Other
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- title below) ---- (specify
Number of Reporting Month/Year Chief Financial Officer below
Person (Voluntary) /Chief Operating Officer
300 Oceangate #500 March 2000 ----------------- ------------------
- -------------------------------------------- --------------------- 7. Individual or Joint/Group Filing
(Street) 5. If Amendment, (Check Applicable Line)
Date of Original _X_Form filed by One Reporting Person
(Month/Year) ___Form filed by More than One
Long Beach, CA 90802 Reporting Person
- ------------------------------------------------------------------------------------------------------------------------------------
(City) (State) (Zip) TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 8) Owned at Direct Bene-
(Month/ End of (D) or ficial
Day/ ------------------------------------------- Month Indirect Owner-
Year) (A) or (I) ship
Code V Amount (D) Price (Instr. 3 (Instr. 4) (Instr. 4)
and 4)
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Common Stock 03/13/00 J 92,667 A $1.00 840,667 D
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- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, SEE Instruction 4(b)(v). Page 1 of 3 pages SEC 1474 (7-97)

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 CONTROL NUMBER.

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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)

- ------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative Security 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action tion Code ative Securities Ac- cisable and Ex-
Exercise Date (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ posed of (D) (Month/Day/
Deriv- Day/ (Instr. 3, 4, and 5) Year)
ative Year)
Security

--------------------

Date Expira-
-------------------------------------- Exer- tion
cisable Date
Code V (A) (D)
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- ------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------
7. Title and Amount of Under- 8. Price 9. Number 10. Owner- 11. Nature
lying Securities of of Deriv- ship of In-
(Instr. 3 and 4) Deriv- ative Form direct
ative Securi- of De- Bene-
Secur- ties rivative ficial
ity Bene- Secu- Own-
(Instr. ficially rity: ership
5) Owned Direct (Instr. 4)
at End (D) or
Amount or of Indi-
Title Number of Month rect (I)
Shares (Instr. 4) (Instr. 4)
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- ------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------
Explanation of Responses:

See continuation page(s) for footnotes

/s/ DAVID BASSETT-PARKINS 04-10-00
----------------------------------- -----------
**Intentional misstatements or omissions of facts constitute **Signature of Reporting Person Date
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 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 of 3 pages Page 2
SEC 1474 (7-97)
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Bassett-Parkins, David J. NETGATEWAY, INC. (NGWY) Page 3 of 3 pages
300 Oceangate #500 January 2000
Long Beach, CA 90802

In December 1998, Messrs. Freadhoff, Beebe, Danks, and Vanderhoff, contributed
to the trust (the "Master Trust") 450,000, 100,000, 100,000, and 100,000 shares
of common stock, respectively. The trustee of the Master Trust is Mr.
Freadhoff and these individuals are the beneficiaries of this trust. This
trust sold 350,000 of these shares to each of two trusts the trustee of which
is Mr. Freadhoff and the beneficiary of one of which is Donald M. Corliss, Jr.,
our President and one of our Directors, and the beneficiary of one of which is
David Bassett-Parkins, our Chief Financial Officer and Chief Operating Officer,
and one of our Directors, in exchange for a promissory note from each of these
trusts in the principal amount of $350,000. Each of these individuals has
delivered to their respective trust a promissory note in the principal amount
of $350,000. The Master Trust sold the remaining 50,000 of these shares to a
trust the trustee of which is Mr. Freadhoff and the beneficiary of which is
Hanh Ngo, our Executive Vice President - Operations, in exchange for a
promissory note from this trust in the principal amount of $50,000. Ms. Ngo
has delivered to this trust a promissory note in the principal amount of
$50,000. The trusts (the "Individual Trusts") of which Messrs. Corliss and
Bassett-Parkins and Ms. Ngo are beneficiaries are, by their terms, permitted to
deliver the shares of common stock to their beneficiaries in three equal
installments for a purchase price of $1.00 per share on or after January 1,
2000, 2001, and 2002 (subject to acceleration in the event of a change of
control), provided that the individual beneficiary of the Individual Trust in
question has not voluntarily terminated their employment with us prior to these
dates. These individuals will satisfy the purchase price for their shares by
means of the repayment of their respective promissory note to the respective
Individual Trust. In the event that any of these beneficiaries should so
terminate their employment with us prior to these dates, the trustee of the
respective Individual Trust will return these shares in such Individual Trust
to the Master Trust in satisfaction of the promissory note from this Individual
Trust to the Master Trust. The Master Trust will then deliver these shares to
its beneficiaries in proportion to their contributions of shares of common
stock to the Master Trust. In January 2000, a new individual trust (the
"Camblin Trust") was formed, the trustee of which is Mr. Freadhoff and the
beneficiary of which is Roy W. Camblin III, the Company's Chief Executive
Officer and a Director. At that time, the Master Trust contracted to sell to
the Camblin Trust 100,000 shares of Common Stock in exchange for a promissory
note in the amount of $425,000. Messrs. Freadhoff and Beebe intend to
contribute 50,000 shares of Common Stock each to the Master Trust in respect of
this sale to the Camblin Trust. Mr. Camblin has delivered to the Camblin Trust
a promissory note in the amount of $425,000. The terms of Mr. Camblin's trust
are substantially similar to the description of the Individual Trusts set forth
above.

The reported transaction reflects a sale of 164,000 shares from Mr.
Bassett-Parkins' Individual Trust to Mr. Bassett-Parkins.