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
Stonecipher, Harland Cecil
Rt. 1, Box 39
Centrahoma, OK 74534
USA
2. Issuer Name and Ticker or Trading Symbol
Pre-Paid Legal Services, Inc.
PPD
3. IRS or Social Security Number of Reporting Person (Voluntary)
441 40 2505
4. Statement for Month/Year
April 1999
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)
Chairman of the Board
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
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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 | | | | | | |1,072,025 |D (1) | |
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| | | | | | |17,356 |I |By ESOP Trust |
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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 |30.25 |03/01|J |V|10,000 |A |(3) |03/01|Common |10,000 | |10,000 |D | |
| |/99 | |(| | | |/04 | | | | | | |
| | | |2| | | | | | | | | | |
| | | |)| | | | | | | | | | |
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Option - Right to Buy |38.50 |04/17|J |V|10,000 |A |(3) |04/17|Common |10,000 | |10,000 |D | |
| |/98 | |(| | | |/03 | | | | | | |
| | | |2| | | | | | | | | | |
| | | |)| | | | | | | | | | |
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Option - Right to Buy |26.125 |04/23|J |V|100,000 |A |(4) |12/31|Common |100,000| |100,000 |D | |
| |/99 | | | | | |/04 | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) These shares are held jointly with the reporting person's spouse. The
reporting person's spouse is also a
director of the
Issuer.
(2) 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.
(3) These Options granted were immediately exercisable as to 2,500 shares and
will vest in additional increments
of 2,500 on the following June 1st, September 1st and December 1st of the year
of grant.
(4) The Options granted were immediately exercisable as to 25,000 shares and
will vest in additional increments
of 25,000 on June 1st, September 1st and December 1st of the year of
grant.
SIGNATURE OF REPORTING PERSON
Harland Stonecipher
DATE
May 10, 1999
