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- ------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION ------------------------------
FORM 4 Washington, D.C. 20549 OMB Approval
- ------------------------- STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP ------------------------------
[ ] Check this box if no OMB Number: 3235-0287
longer subject to Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Expires: December 31, 2001
Section 16. Form 4 Section 17(a) of the Public Utility Holding Company Act of 1935 or Estimated average burden
or Form 5 obligations Section 30(f) of the Investment Company Act of 1940 hours per response.......0.5
may continue. See ------------------------------
Instruction 1(b).
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(Print or Type Responses)
<S> <C> <C> <C>
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1. Name and Address of Reporting Person* 2. Issuer Name and Ticker 4. Statement for 6. Relationship of Reporting Person(s)
or Trading Symbol Month/Year to Issuer
(Check all applicable)
Lerner, Hyunjin Official Payments 11/99 [ ] Director [ ] 10% Owner
------------------------------------ Corporation, OPAY [X] Officer (give [ ] Other
(Last) (First) (Middle) title below) (specify below)
2333 San Ramon Valley Boulevard Controller
Suite 450 ---------------------------------------
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(Street) 3. I.R.S. Identification 5. If Amendment, 7. Individual or Joint/Group Filing
Number of Reporting Date of (Check Applicable Line)
Person, if an entity Original [X] Form Filed by One Reporting Person
San Ramon, CA 94583 (Voluntary) (Month/Year) [ ] Form Filed by More than One
------------------------------------ Reporting Person
(City) (State) (Zip) 11/99
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TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<S> <C> <C> <C> <C> <C> <C>
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1. Title of Security 2. Trans- 3. Transaction 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature of
(Instr. 3) action Code (Instr. or Disposed of (D) Securities Form: Indirect
Date 8) (Instr. 3, 4 and 5) Beneficially Direct (D) Beneficial
(Month/ Owned at End or Indirect Ownership
Day/ of Month (I) (Instr. 4)
Year) (Instr. 3 (Instr. 4)
and 4)
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Code V Amount (A) or (D) Price
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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).
Page 1 of 2
SEC 1475 (3-99)
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FORM 4 (continued)
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TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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1. Title 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date 7. Title 8. Price 9. Number 10. Owner- 11. Nature of
of sion or action action Derivative Exer- and of of ship Indirect
Deri- Exercise Date Code Securities cisable Amount Deri- Deri- Form Beneficial
vative Price of (Instr. Acquired (A) and Expi- of vative vative of Deri- Ownership
Secu- Deri- (Month/ 8) or Disposed ration Under- Secu- Secu- vative (Instr. 4)
rity vative Day/ of (D) Date lying rity rities Security:
(Instr. Security Year) (Instr. 3, (Month/ Securi- (Instr. Benefi- Direct
3) 4, and 5) Day/ ties 5) cially (D) or
Year) (Instr. Owned Indirect
3 and 4) at End (I)
of (Instr.
Month 4)
(Instr.
4)
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Code V (A) (D) Date Expir- Title Amount
Exerci- ation or
sable Date Number
of
Shares
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Employee $1.33 11/22/99 A V 2,689 Immed. Common 2,689 82,219
Stock (1) Stock,
Option par
(Right to value
Buy) $0.01
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Employee $15.00 11/22/99 A V 19,998 11/22/ Common 19,998 102,217
Stock 2000 Stock,
Option (2) par
(Right to value
Buy) $0.01
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Employee $15.00 11/22/99 A V 7,408 Common 7,408 109,625
Stock Stock,
Option par
(Right to value
Buy) $0.01
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Explanation of Responses:
(1) One-third of the Option vests over the first year, and the remaining two-thirds vests in equal monthly installments for 24
months thereafter.
(2) This Option will first become vested and exercisable with respect to 6,666 shares of Common Stock on September 30, 2000.
Thereafter, this Option will become vested and exercisable with respect to 555 additional shares of Common Stock on the last day of
each of the next 23 consecutive months, with the balance of 567 shares of Common Stock subject to this Option to first become vested
and exercisable on the last day of the 24th consecutive month.
(3) The Right of Repurchase shall lapse, and full vesting will occur, with respect to 2,469 shares of the Common Stock subject to
this Option on September 30, 2000. Thereafter, the Right of Repurchase shall lapse, and full vesting will occur, with respect to
205 additional shares of the Common Stock subject to this Option on the last day of each of the next 23 consecutive calendar months,
with the balance of 224 shares of Common Stock to vest on the last day of the 24th consecutive month.
** Intentional misstatements or omissions of
facts constitute Federal Criminal Violations.
See 18 U.S.C. and 15 U.S.C. 78ff(a). By: /S/ Hyunjin Lerner 1/4/00
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** Signature of Reporting Person Date
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 form
displays a currently valid OMB number.
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SEC 1475 (3-99)
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