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
Gavin, Carol Coghlan
c/o TELLABS OPERATIONS, INC.
4951 Indiana Avenue
Lisle, IL 60532
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
May, 1999
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
VP, Gen. Counsel & Secretary
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 | | | | | | |88,524 (1) |D | |
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Common Stock | | | | | | |484 (1) |I |(2) |
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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>
Employee Stock Options|$40.5625|3/1/9|A |V|20,000 |A |(4) |3/1/0|Common Stock|20,000 | | | | |
(Rights to Buy) (3) | |9 | | | | | |9 | | | | | | |
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Employee Stock Options|$0.7657 | | | | | | | |Common Stock|60,000 | | | | |
(Rights to Buy) (5) | | | | | | | | | | | | | | |
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Employee Stock Options|$2.5000 | | | | | | | |Common Stock|240,000| | | | |
(Rights to Buy) (5) | | | | | | | | | | | | | | |
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Employee Stock Options|$8.3438 | | | | | | | |Common Stock|40,000 | | | | |
(Rights to Buy) (5) | | | | | | | | | | | | | | |
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Employee Stock Options|$14.3125| | | | | | | |Common Stock|40,000 | | | | |
(Rights to Buy) (5) | | | | | | | | | | | | | | |
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Employee Stock Options|$25.2500| | | | | | | |Common Stock|20,000 | |420,000 (1) |D | |
(Rights to Buy) (5) | | | | | | | | | | | | | | |
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Explanation of Responses:
(1) The end of period holdings have been modified to reflect the effect of the
2-for-1 stock split effective May 17,
1999.
(2) These shares are held for the benefit of the reporting person in the
Tellabs Advantage Plan.
(3) These stock options, originally granted as options for 10,000 shares at a
per share exercise price of $81.125,
have been adjusted to reflect the effect of the 2-for-1 stock split effective
May 17, 1999.
(4) These options become exercisable in cumulative annual installments of 25%
on each of the 1st, 2nd, 3rd and
4th anniversaries of the grant
date.
(5) These stock options were previously reported as options for 30,000,
120,000, 20,000, 20,000 and 10,000
shares, respectively, at per share prices of $1.5313, $5.0000, $16.6875,
$28.6250 and $50.5000, respectively,
each as adjusted for all prior stock splits and other transactions and have
been further adjusted to reflect the
2-for-1 stock split effective May 17,
1999.
SIGNATURE OF REPORTING PERSON
/s/ Carol Coghlan Gavin
