UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
( ) Form 3 Holdings Reported
(X) Form 4 Transactions Reported
1. Name and Address of Reporting Person
Pinson, Kathleen S.
301 South Lazy Lane
Ada, OK 74820
U.S.A.
2. Issuer Name and Ticker or Trading Symbol
Pre-Paid Legal Services, Inc.
PPD
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
December 31, 1996
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Vice President, Controller and Director
7. Individual or Joint/Group Reporting (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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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 |
|Date |Code| | Beneficially |(D)or | |
| | | | A/| | Owned at |Indir | |
| | | Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock |8/19/9|M4 |5,000 |A |.375 |19,141 |D | |
|6 | | | | | | | |
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Common Stock |(1) |J(1)|716 |A |(1) |17,329 |I |ESOP Trust |
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Common Stock |(2) |(J2)|272 |A |(2) |2,132 |I(3) |ESOP Trust |
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<CAPTION>
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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 |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise Pr | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|ice 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 | | | Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Option (R|.375 |8/19/|M4 |5,000 |D |9/18/|9/18/|Common |5,000 | |30,000 |D | |
ight to Buy) | |96 | | | |96 |00 | | | | | | |
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</TABLE>
Explanation of Responses:
(1) These securities were acquired through participation in the Issuer's
Employee Stock Ownership and Thrift Plan
and Trust through August 14, 1996 at an average price of $8.86 per share.
These transactions are exempt under
old Rule
16a-8(b).
(2) These securities were acquired by the Reporting Person's spouse through
participation in the Issuer's Employee
Stock Ownership and Thrift Plan and Trust through August 14, 1996 at an average
price of $8.70 per share. These
transactions are exempt under old Rule
16a-8(b).
(3) The Reporting Person disclaims beneficial ownership of these securities
and this report shall not be deemed an
admission that the Reporting Person is the beneficial owner of such securities
for purposes of Section 16 or for any
other
purpose.
SIGNATURE OF REPORTING PERSON
Kathleen S. Pinson
DATE
February 14, 1997
