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OMB APPROVAL
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-------- OMB Number: 3235-0104
FORM 3 Expires: December 31, 2001
-------- Estimated average burden
hours per response.... 0.5
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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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<S> <C> <C> <C>
(Print or Type Responses)
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1. Name and Address of Reporting Person* 2. Date of Event Requiring 4. Issuer Name and Ticker or Trading 6.If Amendment
Statement(Month/Day/Year) Symbol Date of Original
EGL, Inc. 7/02/00 Circle International Group, Inc. (Month/Day/Year)
(NASDAQ:CRCL)
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(Last) (First) (Middle) 3. I.R.S. Identification 5. Relationship of Reporting 7.Individual or Joint/
15350 Vickery Drive Number of Reporting Person(s) to Issuer Group Filing (Check
---------------------------------------- Person, if an entity (Check all applicable) Applicable Line)
(Street) (voluntary) Director X 10% Owner* X Form filed by
----- ----- --- One Reporting
Houston Texas 77032 941740320 Officer Other (specify Person
-------------------------------------- ----- ----- below) Form filed by
(City) (State) (Zip) ---------------------------- (give title below) --- More than One
Reporting Person
*May be deemed to be a 10% owner under
Section 13(d) of the Securities Exchange
Act of 1934, as amended.
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TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
(Instr. 4) Beneficially Owned Direct (D) or Beneficial
(Instr. 4) Indirect (I) Ownership (Instr. 5)
(Instr. 5)
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Not Applicable.
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
*If the form is filed by more than one reporting person, see Instruction 5(b)(v). SEC 1473 (3-99)
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTIONS OF INFORMATION
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS
A CURRENTLY VALID OMB CONTROL NUMBER.
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FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security 2. Date 3. Title and Amount of 4. Conver- 5. Owner- 6. Nature of Indirect
(Instr. 4) Exercisable and Securities Underlying sion or ship Beneficial Ownership
Expiration Date Derivative Security Exercise Form of (Instr. 5)
(Month/Day/ (Instr. 4) Price of Deriv-
Year) Deri- ative
vative Security:
Security Direct
------------------------------------------------- (D) or
Date Expira- Amount or Indirect (I)
Exercis- tion Title Number (Instr. 5)
able Date of Shares
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Option to purchase Common Stock(1) (2) (3) Common Stock 2,146,065(4) (5) D
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Explanation of Responses:
(1) The option (the "Option") to purchase shares of common stock, par value
$1.00 per share ("Common Stock"), of the Issuer was granted pursuant to
the Stock Option Agreement, dated as of July 2, 2000 (the "Option
Agreement"), between EGL, Inc. ("EGL") and the Issuer (filed as Exhibit
10.1 to EGL's Current Report on Form 8-K dated July 2, 2000). The Option
contains a put right in favor of EGL with respect to the shares of Common
Stock purchased pursuant to the Option.
EGL, INC.
(2) The Option becomes exercisable upon the date on which EGL becomes
unconditionally entitled to receive the $16 million termination fee By: /s/ Elijio V. Serrano July 11, 2000
pursuant to Section 9.5 of the Agreement and Plan of Merger, dated as of ---------------------- -------------
July 2, 2000 (the "Merger Agreement"), among EGL, the Issuer and EGL **Signature of Reporting Person Date
Delaware I, Inc. (filed as Exhibit 2.1 to EGL's Current Report on Form 8-K
dated July 2, 2000). The Option Agreement limits EGL's total profit with Elijio V. Serrano
respect to the shares of Common Stock that may be purchased pursuant to Executive Vice President and Chief Financial
the Option to $16 million. Total profit includes, among other things, Officer
amounts payable to EGL pursuant to (a) the put right and (b) Section 9.5
of the Merger Agreement.
(3) The Option expires upon the earliest to occur of (i) the effective time of
the merger of the Issuer and EGL Delaware I, Inc., (ii) April 15, 2001,
and (iii) termination of the Merger Agreement in accordance with its terms
unless the Issuer is obligated to pay the $16 million termination fee
pursuant to Section 9.5 of the Merger Agreement in connection with such
termination.
(4) The number of shares of Common Stock adjusts to equal 10.1% of the sum of
the number of issued and outstanding shares of Common Stock and the number
of such shares issuable pursuant to outstanding options or similar rights
to acquire shares of Common Stock.
(5) The exercise price is equal to the average of the closing prices of common
stock, par value $.001 per share, of EGL as reported on the Nasdaq
National Market during the 20 consecutive trading days ending on the fifth
trading day immediately prior to the date on which EGL sends a written to
notice to the Issuer stating that EGL intends to exercise the Option.
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This Statement shall not be an admission that EGL is, for purposes of Section 16
of the Securities Exchange Act of 1934 or otherwise, the beneficial owner of any
equity securities covered by this Statement. EGL expressly disclaims beneficial
ownership with respect to shares of Common Stock that may be purchased by EGL
pursuant to the terms of the Option Agreement.
** 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 is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB number.
