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
September 27,2000
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, President and CEO
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 Par Value*|9/27/0|M | |14,625 |A |$5.3889 | |D | |
|0 | | | | | | | | |
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|9/27/0|F | |5,000 |D |$14.6875 |225,759.5000 |D | |
|0 | | | | | | | | |
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| | | | | | |42,661.0020 |I |By ESOP Trustee |
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<CAPTION>
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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|$19.9375|7/31/|A |V|91,500 |A |7/31/|7/30/|Common Stock|91,500 |19.9375| |D | |
(Right to Buy)* | |00 | | | | |01 |10 | | | | | | |
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** |$5.3889 |9/27/|M | |14,625 |D |9/29/|9/28/|Common Stock|14,625 |$5.3889|351,990 |D | |
| |00 | | | | |92 |00 | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
* 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 30, 2010.
** Stock-for-stock exercise of option under Elcor Corporation's Incentive Stock
Option Plan.
SIGNATURE OF REPORTING PERSON
/s/ Harold K. Work
DATE
October 10, 2000
