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
Marshall, Stephanie Pace
C/O ILLINOIS MATH AND SCIENCE ACADEMY
1500 W. Sullivan Road
Aurora, IL 60506-1000
USA
2. Issuer Name and Ticker or Trading Symbol
Tellabs, Inc.
(TLAB)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
January 1997
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
<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 |
| | | | 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 |1/10/9|M | |6,000 |A |$ 19.3750 |6,000 |D | |
|7 | | | | | | | | |
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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>
Stock Options (Rights|$ 19.375|1/10/|M | |6,000 |D |(1) |1/2/0|Common Stock|6,000 | | | | |
to Buy) |0 |97 | | | | | |1 | | | | | | |
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Stock Options (Rights|$ 41.18|1/31/|A |V|6,000 |A |7/31/|1/31/|Common Stock|6,000 | | | | |
to Buy) |75 |97 | | | | |97 |02 | | | | | | |
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Stock Options (Rights|$ 19.37| | | | | |(1) |1/2/0|Common Stock|14,000 | |20,000 (3) |D | |
to Buy) (2) |50 | | | | | | |1 | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) These options become exercisable in cumulative annual installments of
33.3% on each of the 1st, 2nd and 3rd
anniversaries of the grant
date.
(2) These stock options were previously reported as options for 7,000 shares
at a per share exercise price of
$38.75 and have been adjusted for all other transactions and have been further
adjusted to reflect the effect of the
2-for-1 stock split effective November 15,
1996.
(3) End of period holdings have been adjusted to reflect the effect of the
2-for-1 stock split effective November 15,
1996.
SIGNATURE OF REPORTING PERSON
Stephanie Pace Marshall
