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
Work, Harold K.
14643 Dallas Parkway Suite 1000
Dallas, TX 75240-8871
USA
2. Issuer Name and Ticker or Trading Symbol
Elcor Corporation
ELK
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
July 26, 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)
Executive Vice President
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 Par Value*| | | | | | |203,809.50 |D | |
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| | | | | | |42,109.530 |I |by ESOP Trustee |
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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>
Incentive Stock Option|$28.0417|7/26/|M |V|106,740 |A |7/26/|7/25/|Common Stock|106,740|$28.041|289,740 |D | |
(Right to Buy)** | |99 | | | | |00 |09 | | |7 | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
*adjusted for the 3:2 stock split declared June 28, 1999 payable in the form of
a 50% stock dividend to shareholders
of record on July 15,
1999.
**granted under the 1998 Amended and Restated Elcor Corporation Incentive Stock
Option Plan in transaction exempt
under Rule 16b-3. The option is exercisable as to 20% of the number of shares
set forth above one year after the
effective date of the grant, with an additional 20% for each year thereafter
until the option is exercisable as to 100%
of such shares five years after the date of the grant. The option expires 10
years after the effective date of the
grant, or, in this case, July 25,
2009.
SIGNATURE OF REPORTING PERSON
/s/ Harold K. Work
DATE
August 10, 1999
