------------------------------
OMB APPROVAL
------------------------------
OMB Number: 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response ....... 0.5
------------------------------
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
===============================================================================
1. Name and Address of Reporting Person*
Donald H. Gullquist, as a trustee of The Coastal Corporation Second Pension
Trust, and as the designated beneficial owner on behalf of the persons
named on Exhibit A to this Form 4.
- -------------------------------------------------------------------------------
(Last) (First) (Middle)
Nine Greenway Plaza
- -------------------------------------------------------------------------------
(Street)
Houston, Texas 77046-0995
- -------------------------------------------------------------------------------
(City) (State) (Zip)
===============================================================================
2. Issuer Name and Ticker or Trading Symbol
INTELECT COMMUNICATIONS INC. (ICOM)
===============================================================================
3. IRS or Social Security Number of Reporting Person (Voluntary)
===============================================================================
4. Statement for Month/Year
01/99
===============================================================================
<PAGE>
5. If Amendment, Date of Original (Month/Year)
===============================================================================
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
--------------------------------------------------------------------
===============================================================================
7. Individual or Joint/Group Filing (Check Applicable Line)
[ ] Form filed by One Reporting Person
[ X ] Form filed by More than One Reporting Person
===============================================================================
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
===============================================================================
<TABLE>
<CAPTION>
6. Owner-
2. Trans- 3. Trans- 4. Securities Acquired 5. Amount of ship 7. Nature of
action action (A) or Disposed of Securities Form: Indirect
Date Code (D) Beneficially Direct Benefi-
(Instr. Owned at (D) or cial
(Month/ 8) (Instr. 3, 4 and 5) End of Month Indirect Owner-
1. Title of Security Day/ --------- (A) or (Instr. 3 (I) ship
(Instr. 3) Year) Code V Amount (D) Price and 4) (Instr. 4) (Instr.4)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1.) Common Stock, $.01 par value 01/01/99 J 144,681 A $1.46875 D NA
- -----------------------------------------------------------------------------------------------------------------------------------
2.) Common Stock, $.01 par value 01/15/99 S 250,000 D $1.80435 D NA
- -----------------------------------------------------------------------------------------------------------------------------------
3.) Common Stock, $.01 par value 01/20/99 J 500,800 A 860,051 D NA
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
===================================================================================================================================
</TABLE>
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) SEC 1474 (7-96)
<PAGE>
FORM 4 (continued)
<TABLE>
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
===================================================================================================================================
<CAPTION>
9. 10.
Number Owner-
of ship
5. 6. 7. deriv- Form
Number of Date Exer- Title and ative of
Derivative cisable and Amount of Secur- Deriv- 11.
Securities Expiration Underlying 8. ities ative Nature
2. 3. Acquired Date Securities Price Bene- Secur- of
Conver- Trans- 4. (A) or (Month/Day/ (Instr. 3 and 4) of ficially ity: Indirect
sion or action Trans- Disposed Year) ---------------- Deriv- Owned Direct Benefi-
1. Exercise Date action of (D) -------------- Amount ative at End (D) or cial
Title of Price of Code (Instr. 3 Date or Secur- of Indirect Owner-
Derivative Deri- (Month/ (Instr. 8) 4, and 5) Exer- Expira- Number ity Month (I) ship
Security vative Day/ ---------- ---------- cis- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) Security Year) Code V (A) (D) able Date Title Shares 5) 4) 4) 4)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
===================================================================================================================================
</TABLE>
Explanation of Responses:
1.) Preferred dividend payable in Common Stock
3.) 500,000 shares of Series A Preferred Stock converted to Common Stock.
/s/ DONALD H. GULLQUIST, TRUSTEE 02/05/99
- ---------------------------------------------- -----------------------
**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
vaild OMB Number.
Page 2
SEC 1474 (7-96)
<PAGE>
EXHIBIT A
Names and Addresses of Each Other Reporting Person:
Name Address
Coby C. Hesse Nine Greenway Plaza
Houston, Texas 77046-0995
C. A. Corrallo Nine Greenway Plaza
Houston, Texas 77046-0995
Pension Plan for Employees of The Coastal Nine Greenway Plaza
Corporation Houston, Texas 77046-0995
The above authorize Donald H. Gullquist to execute the attached
Form on their behalf.
