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
Grunebaum, Peter K
750 Lexington Avenue
30th Floor
New York, NY 10022
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)
###-##-####
4. Statement for Month/Year
May/2000
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
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 |5/2/00|S | |1,000 |D |34.4375 | | | |
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Common Stock |5/2/00|S | |1,000 |D |33.375 | | | |
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Common Stock |5/3/00|S | |1,000 |D |34.4375 | | | |
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Common Stock |5/3/00|S | |1,000 |D |33.375 | | | |
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Common Stock |5/5/00|S | |1,000 |D |33.75 | | | |
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Common Stock |5/9/00|S | |1,000 |D |33.00 | | | |
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Common Stock |5/17/0|M | |1,000 |A |10.375 |6,700 |D | |
|0 | | | | | | | | |
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| | | | | | |1,200 |I |By Keogh Plan |
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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 |10.375 |5/17/|M | |3,000 |D |(1) |3/3/0|Common |3,000 |10.375 |4,000 | | |
| |00 | | | | | |1 | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) These securities were acquired through participation in the Issuer's Stock
Option Plan approved by shareholders on May 26, 1996. They are
exempt under Rule 16a-8(b). 2,000 shares of these options were exercisable on
June 1, 1996 and 1,000 of the options were exercisable on
September 1,
1996.
SIGNATURE OF REPORTING PERSON
Peter Grunebaum
DATE
June 9, 2000
