UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Smerge, Raymond G.
2728 N. Harwood
Dallas, TX 75201
USA
2. Issuer Name and Ticker or Trading Symbol
Centex Corporation
CTX
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
02/28/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Exec. Vice President, Chief Legal Officer and Secretary
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 |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock, par value $0.|2/11/9|M(1)| |3,000 |A |$17.125 | | | |
25 per share |8 | | | | | | | | |
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Common Stock, par value $0.|2/11/9|S(1)| |3,000 |D |$71.50 | | | |
25 per share |8 | | | | | | | | |
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| | | | | | |884(2) |I |Centex Corp. Profit Sharing|
| | | | | | | | | Plan |
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| | | | | | |1,200 |I |By Trusts |
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| | | | | | |300 |D | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Option Right to Buy |$17.125 |2/11/|M(1)| |3,000 |D |____(|4/1/2|Common Stock|3,000 | |5,000 |D | |
| |98 | | | | |3) |001 | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) This exercise and/or sale was made pursuant to and in reliance upon the
exemption contained in Rule 16b-3.
(2) Number of shares owned as of Februrary 24, 1998 by Trustee of Centex
Corporation Profit Sharing Plan
based on most recent plan information available to reporting person. Number of
shares has been rounded to the
nearest whole
number.
(3) Shares vest based upon achievement of certain levels of net earnings as a
percentage of stockholders' equity
or in nine years and nine
months.
SIGNATURE OF REPORTING PERSON
\s\ Raymond G. Smerge
DATE
March 2, 1998
