FORM 4
( ) 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 |
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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
Cotsakos Christos
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(Last) (First) (Middle)
c/o Official Payments Corp.
2333 San Ramon Valley Boulevard
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(Street)
San Ramon California 94583
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Official Payments Corporation ("OPAY")
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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
February/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)
(X) Director
( ) 10% Owner
( ) Officer (give title below)
( ) Other (specify title 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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1. Title of Security (Instr. 3)
Common Stock
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2. Transaction Date (Month/Day/Year)
February 4, 2000
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3. Transaction Code (Instr. 8)
M
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)
75,000 shares/Acquired/$15.00
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5. Amount of Securities Beneficially Owned at End of Month
(Instr. 3 and 4)
75,000 (1)
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6. Ownership Form: Direct(D) or Indirect(I) (Instr. 4)
Direct
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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)
Option to Purchase
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2. Conversion or Exercise Price of Derivative Security
$15.00
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3. Transaction Date (Month/Day/Year)
February 4, 2000
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4. Transaction Code (Instr. 8)
M
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
75,000/Disposed
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6. Date Exercisable and Expiration Date (Month/Day/Year)
Immediately/November 28, 2009
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7. Title and Amount of Underlying Securities (Instr. 3 and 4)
Common Stock/75,000 shares
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8. Price of Derivative Securities (Instr. 5)
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9. Number of Derivative Securities Beneficially Owned at End of Month
(Instr. 4)
O
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10. Ownership Form of Derivative Security: Direct(D) or Indirect(I)
(Instr. 4)
N/A
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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EXPLANATION OF RESPONSES:
(1) Purchase of shares of issuer's common stock pursuant to exercise of
Non-Qualified Stock Options under issuer's 1999 Stock Incentive Plan. Such
options were immediately exercisable upon grant but the acquired shares of
common stock reported herein are subject to a right of repurchase by the
issuer, which right of repurchase lapses as follows: with respect to one-
third (1/3) of the acquired shares, such right lapses on November 28, 2000
and with respect to the remaining two-thirds (2/3) of the acquired shares,
such right lapses in equal monthly installments over the 24 months
thereafter.
/s/ Christos Cotsakos March 8, 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 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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