FORM 4
(X) Check this box if no longer
subject to Section 16. Form 4
or Form 5 obligations may continue.
See Instruction 1(b).
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION _____________________
WASHINGTON, D.C. 20549 | OMB APPROVAL |
|_____________________|
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |OMB NUMBER: 3235-0287|
|EXPIRES: |
| DECEMBER 31, 2001 |
Filed pursuant to Section 16(a) of the |ESTIMATED AVERAGE |
Securities Exchange Act of 1934, |BURDEN HOURS |
Section 17(a) of the Public Utility |PER RESPONSE ... 0.5 |
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
Francis Martin E.
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(Last) (First) (Middle)
440 North Orleans
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(Street)
Chicago IL 60610
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Prism Financial Corporation / PRFN
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3. I.R.S. Identification Number of Reporting Person, if an entity
(Voluntary)
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4. Statement for Month/Year
April / 2000
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director
( ) 10% Owner
( ) Officer (give title below)
( X) Other (specify title below)
President of Mortgage Market, Inc. (an indirect wholly-owned
subsidiary of Prism Financial Corporation); however, Reporting
Person disclaims status as an officer of the Issuer for all purposes.
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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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1. Title of Security (Instr. 3)
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2. Transaction Date (Month/Day/Year)
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3. Transaction Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)
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5. Amount of Securities Beneficially Owned at End of Month
(Instr. 3 and 4)
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6. Ownership Form: Direct(D) or Indirect(I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
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TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY
OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security (Instr. 3)
(1) Employee Stock Option (right to acquire)
(2) Employee Stock Option (right to acquire)
(3) Employee Stock Option (right to acquire)
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2. Conversion or Exercise Price of Derivative Security
(1) $3.375
(2) $3.375
(3) $14.00
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3. Transaction Date (Month/Day/Year)
(1) 1/21/00
(2) 4/25/00
(3) 4/25/00
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4. Transaction Code (Instr. 8)
(1) A, V
(2) J (See Note 1.)
(3) J (See Note 2.)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
(1) 10,000 A
(2) 10,000 D
(3) 8,000 D
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6. Date Exercisable and Expiration Date (Month/Day/Year)
(1) and (2): exercisable: (See Note 1.) expiration: 1/20/10
(3) exercisable: (See Note 2.) expiration: 5/24/09
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7. Title and Amount of Underlying Securities (Instr. 3 and 4)
(1) Common Stock, 10,000 shares
(2) Common Stock, 10,000 shares
(3) Common Stock, 8,000 shares
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8. Price of Derivative Securities (Instr. 5)
(2) $4.125
(3) (See Note 2.)
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9. Number of Derivative Securities Beneficially Owned at End of Month
(Instr. 4)
0
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10. Ownership Form of Derivative Security: Direct(D) or Indirect(I)
(Instr. 4)
D
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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EXPLANATION OF RESPONSES:
Note 1. Pursuant to the merger agreement among Prism Financial
Corporation, Prism Acquisition Subsidiary, Inc. and Royal Bank of
Canada (the "Merger Agreement"), this option was cancelled in
consideration for cash payments, payable according to the
option's vesting schedule, equal on a per-share basis to the
difference between the exercise price of the option ($3.375) and
the cash merger consideration provided for by the Merger
Agreement ($7.50). Under the applicable option agreement, this
option would have vested as to 33 1/3% of the underlying shares
per year over three years.
Note 2. This option was cancelled with no consideration, pursuant to the
Merger Agreement. Under the applicable option agreement, vesting
was scheduled in three equal annual installments beginning on May
24, 2000.
Note 3. Between March 8, 2000 and March 17, 2000, a transaction by the
Reporting Person was initiated but cancelled and unwound
involving 3,800 shares of the Issuer.
/s/ Martin E. Francis 5/11/00
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** SIGNATURE OF REPORTING PERSON DATE
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** 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 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.
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