------ U.S. SECURITIES & ------------
FORM 4 EXCHANGE COMMISSION OMB APPROVAL
------ Washington, D.C. 20549 ------------
[ ] Check this box if OMB Number 3235-0287
no longer subject Expires: April 30, 1997
Section 16. Form 4 Estimated average burden
or Form 5 obliga- hours per response . . 0.5
tions may continue.
See Instruction 1(b).
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Houston W. Tennent
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(Last) (First) (Middle)
2821 Hillcrest Avenue
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(Street)
Augusta Georgia 30903
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(City) (State) (ZIP)
2. Issuer Name and Ticker or Trading Symbol
Merry Land & Investment Company, Inc. (MRY)
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3. IRS or Social Security Number of Reporting Person
###-##-####
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4. Statement for Month/Year
April 1996
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
X Director 10% Owner
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X Officer Other
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(give title below) (specify below)
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President & Chief Financial Officer
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<TABLE>
<CAPTION>
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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3. 4.
Transaction Securities Acquired (A) or Disposed
Code of (D) (Instr. 3, 4 and 5)
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5. Amount of
Securities 6. Ownership 7. Nature of
2. Beneficially Form: Direct Indirect
Transaction Owned at End (D) or Beneficial
1. Date of Month Indirect (I) Ownership
Title of Security (MM/DD/YY) Code V Amount (A) or (D) Price (Inst. 3 & 4) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Common Stock -- -- -- -- -- -- 14,734.8200 I<F1> By ESOP
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Common Stock -- -- -- -- -- -- 173,760.7980 D --
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<FN>
<F1> Does not include 92,415 unallocated shares held by the ESOP. The reporting person serves as the sole trustee of the ESOP. The
reporting person disclaims beneficial ownership of the shares held in the ESOP except to the extent of his pecuniary interest
therein.
</TABLE>
Reminder: Report on a separate line for each class of securities Page 1
beneficially owned directly or indirectly. SEC 1474
(Print or Type Responses) (3/91)
<PAGE>
<TABLE>
<CAPTION>
FORM 4 (continued) Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned Page 2
(e.g. puts, calls, warrants, options, convertible securities)
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4.<F4> 5.<F5> 6.<F6> 7.<F7>
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Date Expira-
Exer- tion
1.<F1> 2.<F2> 3.<F3> Code V (A) (D) cisable Date Title Shares 8.<F8> 9.<F9> 10.<F10> 11.<F11>
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Employee $20.875 4/16/96 J<F12> V 100,000 -- <F12> 4/16/06 Common 100,000 -- 100,000 D --
Stock Stock
Option
(right to buy)
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<FN>
<F1> Title of Derivative Security (Instr. 3)
<F2> Conversion or Exercise of Price of Derivative Security
<F3> Transaction Date (MM/DD/YY)
<F4> Transaction Code (Instr. 8)
<F5> Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
<F6> Date Exercisable and Expiration Date (MM/DD/YY)
<F7> Title and Amount of Underlying Securities (Instr. 3 and 4)
<F8> Price of Derivative Security (Instr. 5)
<F9> Number of Derivative Securities Beneficially Owned at End of Year (Instr. 4)
<F10> Ownership of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
<F11> Nature of Indirect Beneficial Ownership (Instr. 4)
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<F12> These options were granted under the Merry Land & Investment Company, Inc. 1994 Stock Option and Incentive Plan in a
transaction exempt under Old Rule 16b-3. Twenty percent (20%) of these options become exercisable on 10/16/96 and an
additional 20% become exercisable in four annual installments commencing on 4/16/97.
</TABLE>
/S/ 5/7/96
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W. Tennent Houston Date
**Signature of Reporting Person
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually
signed. If space provided is insufficient, see Instruction 6 for
procedure.
Page 2
SEC 1474
(3/91)
