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<HEAD>SEC Form 4
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<TD width="254 pixels" valign="top"><center><B><font size="4">FORM 4</B></center><br><font size="1"><b>[ ] Check this box if no longer<br>subject to Section 16. Form 4 or Form<br>5 oblibations may continue.<br>See Instruction 1(b).</b></b>
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<TD width="764 pixels" valign="center"><center><b>UNITED STATES SECURITIES AND EXCHANGE COMMISSION<BR><center><font size="1">Washington, D.C. 20549</b></center><br><font size="2"><b>STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP</b><br><br><font
size="1">Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility<br>Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940<center>
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<TD width="254 pixels"><center><font size="1">OMB APPROVAL</center><br><hr width="98%"><br>OMB Number: 3235-0287<br>Expires: December 31, 2001<br>Estimated average burden<br>hours per response. . . . . 0.5
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<TD width="446 pixels"> <font size="1">1. Name and Address of Reporting Person<sup>*</sup><br><b>Belk, John R.</b><hr width="98%"><center> (Last)
(First) (Middle)</center><b>Belk, Inc.<br></b><b>2801 West Tyvola Road<br></b><hr width="98%"><center>(Street)</center><b>Charlotte, NC 28217-4500</b><br><hr width="98%"><center> (City)
(State) (Zip)</center><b>USA</b>
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<TD width="254 pixels"valign="top"><font size="1">2. Issuer Name and Ticker<br> or Trading Symbol<br><br><b>ALLTEL Corporation AT</b><hr width="98%">3. I.R.S. Identification<br> Number of Reporting<br>
Person, if an entity<br> (voluntary)<br>
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<TD width="190 pixels"valign="top"><font size="1">4. Statement for<br> (Month/Year)<br><br> <b>May 2000</b><br><br><hr width="98%">5. If Amendment,<BR> Date of Original<br>
(Month/Year)<br>
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<TD width="382 pixels"valign="top"><font size="1">6. Relationship of Reporting Person(s) to Issuer<br><center>(Check all applicable)</center><br><u> <b>X</b> </u> Director <u>
</u> 10% Owner<br><u> </u> Officer <u> </u> Other<br><br>Officer/Other<br>
Description <u> </u><hr width="98%">7. Individual or Joint/Group<br> Filing (Check Applicable Line)<br><br><u> <b>X</b> </u> Individual Filing<br><u> </u>
Joint/Group Filing
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<TD width="100%"valign="top"><font size="1"><center><b>Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned</b></center>
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<TD width="280 pixels"valign="top"><font size="1">1. Title of Security<br> (Instr. 3)<br><br>
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<TD width="128 pixels"valign="top"><font size="1">2. Transaction Date<br> (Month/Day/Year)
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<TD width="100 pixels"valign="top"><font size="1">3. Transaction<br> Code<br> and<br> Voluntary<br> Code<br> (Instr. 8)<br><br><hr width="98%">
<center>Code | V </center>
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<TD width="320 pixels"valign="top"><font size="1">4. Securities Acquired (A) or Disposed (D) Of<br> (Instr. 3, 4, and 5)<br><br><br><br><br><br><hr width="98%"><center> Amount |
A/D | Price </center>
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<TD width="140 pixels"valign="top"><font size="1">5. Amount of<br> Securities<br> Beneficially<br> Owned at<br> End of Month<br><br> (Instr.
3 and 4)
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<TD width="114 pixels"valign="top"><font size="1">6. Owner-<br> ship<br> Form:<br> Direct(D)<br> or<br> Indirect (I)<br><br>
(Instr. 4)
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<TD width="190 pixels"valign="top"><font size="1">7. Nature of<br> Indirect<br> Beneficial<br> Ownership<br><br> (Instr. 4)
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<TD width="280 pixels"><font size="1"><b>Common Stock</b>
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<TD width="128 pixels"><font size="1"><b>05/01/2000</b><br>
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<TD width="100 pixels"><font size="1"><b><center> P</b> | <b> </b> </center>
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<TD width="320 pixels"><font size="1"><center><b> 400</b> | <b>A</b> | <b>$67.4375</b></center>
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<TD width="140 pixels"align="right"><font size="1"><b>2,036</b>
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<TD width="114 pixels"><font size="1"><center><b>D</b></center>
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<TD width="190 pixels"><font size="1"><b></b><br>
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<font size="1">Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.<br>* If the form is filed by more than one reporting person, see Instruction 4(b)(v).<br><br><font size="1"><p align="right">(over)<br>
SEC 1474 (3-99)</p>
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<TD width="100%" align="right"><b>Belk, John R. - May 2000</b><br>
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<TD width="100%"><b>Form 4 (continued)</b>
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<TD width="100%"valign="top"><font size="1"><center><b>Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned<br>(e.g., puts, calls, warrants, options, convertible securities)</b></center>
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<TD width="178 pixels"valign="top"><font size="1">1. Title of Derivative Security<br> (Instr. 3)
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<TD width="76 pixels"valign="top"><font size="1">2. Conver-<br> sion or<br> Exercise<br> Price of<br> Deri-<br> vative<br>
Security
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<TD width="76 pixels"valign="top"><font size="1">3. Transaction<br> Date<br><br> (Month/<br> Day/<br> Year)
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<TD width="78 pixels"valign="top"><font size="1">4. Transaction<br> Code<br> and<br> Voluntary (V)<br> Code<br> (Instr.8)<br><br><br><br><br>
<br><hr width="98%"><center>Code | V </center>
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<TD width="160 pixels"valign="top"><font size="1">5. Number of Derivative<br> Securities Acquired (A)<br> or Disposed (D) Of<br><br> (Instr. 3,4 and 5)
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<TD width="162 pixels"valign="top"><font size="1">6. Date Exercisable(DE) and<br> Expiration Date(ED)<br> (Month/Day/Year)<br><br><br><br><br><br><br><br><br><hr width="98%"><center> (DE) |
(ED) </center>
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<TD width="186 pixels"valign="top"><font size="1">7. Title and Amount of<br> Underlying Securities<br> (Instr. 3 and 4)
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<TD width="76 pixels"valign="top"><font size="1">8. Price<br> of<br> Derivative<br> Security<br> (Instr.5)
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<TD width="102 pixels"valign="top"><font size="1">9. Number of<br> Derivative<br> Securities<br> Beneficially<br> Owned<br> at End of<br>
Month<br> (Instr.4)
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<TD width="50 pixels"valign="top"><font size="1">10.<br>Owner-<br>ship<br>Form of<br>Deriv-<br>ative<br>Security:<br>Direct<br>(D)<br>or<br>Indirect<br>(I)
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<TD width="128 pixels"valign="top"><font size="1">11. Nature of<br> Indirect<br> Beneficial<br> Ownership<br>
(Instr.4)
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<TD width="178 pixels"><font size="1"><b>Non-Qualified Stock Option</b><br>
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<TD width="76 pixels"align="right"><font size="1"><b>$30.5000</b>
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<TD width="76 pixels"><font size="1"><b> </b><br>
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<TD width="78 pixels"><font size="1"><br></center>
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<TD width="160 pixels"><font size="1"><br>
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<TD width="162 pixels"><font size="1"><br>
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<TD width="186 pixels"><font size="1"><b>Common Stock</b> - <b>0</b>
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<TD width="76 pixels"align="right"><font size="1"><b> </b><br>
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<TD width="102 pixels"align="right"><font size="1"><b>10,000</b>
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<TD width="50 pixels"><font size="1"><center><b>D</b></center>
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<TD width="128 pixels"><font size="1"><b></b><br>
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<TD width="178 pixels"><font size="1"><b>Non-Qualified Stock Option</b><br>
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<TD width="76 pixels"align="right"><font size="1"><b>$32.5000</b>
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<TD width="76 pixels"><font size="1"><b> </b><br>
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<TD width="78 pixels"><font size="1"><br></center>
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<TD width="160 pixels"><font size="1"><br>
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<TD width="162 pixels"><font size="1"><br>
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<TD width="186 pixels"><font size="1"><b>Common Stock</b> - <b>0</b>
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<TD width="76 pixels"align="right"><font size="1"><b> </b><br>
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<TD width="102 pixels"align="right"><font size="1"><b>2,000</b>
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<TD width="50 pixels"><font size="1"><center><b>D</b></center>
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<TD width="128 pixels"><font size="1"><b></b><br>
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<TD width="178 pixels"><font size="1"><b>Non-Qualified Stock Option</b><br>
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<TD width="76 pixels"align="right"><font size="1"><b>$30.0000</b>
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<TD width="76 pixels"><font size="1"><b> </b><br>
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<TD width="78 pixels"><font size="1"><br></center>
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<TD width="160 pixels"><font size="1"><br>
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<TD width="162 pixels"><font size="1"><br>
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<TD width="186 pixels"><font size="1"><b>Common Stock</b> - <b>0</b>
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<TD width="76 pixels"align="right"><font size="1"><b> </b><br>
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<TD width="102 pixels"align="right"><font size="1"><b>3,500</b>
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<TD width="50 pixels"><font size="1"><center><b>D</b></center>
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<TD width="128 pixels"><font size="1"><b></b><br>
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<TD width="178 pixels"><font size="1"><b>Non-Qualified Stock Option</b><br>
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<TD width="76 pixels"align="right"><font size="1"><b>$44.9375</b>
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<TD width="76 pixels"><font size="1"><b> </b><br>
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<TD width="78 pixels"><font size="1"><br></center>
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<TD width="160 pixels"><font size="1"><br>
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<TD width="162 pixels"><font size="1"><br>
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<TD width="186 pixels"><font size="1"><b>Common Stock</b> - <b>0</b>
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<TD width="76 pixels"align="right"><font size="1"><b> </b><br>
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<TD width="102 pixels"align="right"><font size="1"><b>4,500</b>
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<TD width="50 pixels"><font size="1"><center><b>D</b></center>
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<TD width="128 pixels"><font size="1"><b></b><br>
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<TD width="178 pixels"><font size="1"><b>Non-Qualified Stock Option</b><br>
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<TD width="76 pixels"align="right"><font size="1"><b>$70.7500</b>
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<TD width="76 pixels"><font size="1"><b> </b><br>
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<TD width="78 pixels"><font size="1"><br></center>
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<TD width="160 pixels"><font size="1"><br>
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<TD width="162 pixels"><font size="1"><br>
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<TD width="186 pixels"><font size="1"><b>Common Stock</b> - <b>0</b>
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<TD width="76 pixels"align="right"><font size="1"><b> </b><br>
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<TD width="102 pixels"align="right"><font size="1"><b>5,500</b>
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<TD width="50 pixels"><font size="1"><center><b>D</b></center>
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<TD width="128 pixels"><font size="1"><b></b><br>
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<TD width="178 pixels"><font size="1"><b>Non-Qualified Stock Option</b><br>
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<TD width="76 pixels"align="right"><font size="1"><b>$65.1250</b>
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<TD width="76 pixels"><font size="1"><b> </b><br>
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<TD width="78 pixels"><font size="1"><br></center>
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<TD width="160 pixels"><font size="1"><br>
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<TD width="162 pixels"><font size="1"><br>
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<TD width="186 pixels"><font size="1"><b>Common Stock</b> - <b>6,500</b>
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<TD width="76 pixels"align="right"><font size="1"><b> </b><br>
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<TD width="102 pixels"align="right"><font size="1"><b>6,500</b>
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<TD width="50 pixels"><font size="1"><center><b>D</b></center>
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<TD width="128 pixels"><font size="1"><b></b><br>
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<TD width="178 pixels"><br>
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<TD width="78 pixels"><br>
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<TD width="160 pixels"><br>
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<TD width="162 pixels"><br>
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<TD width="186 pixels"><br>
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<TD width="76 pixels"><br>
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<TD width="102 pixels"><br>
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<TD width="50 pixels"><br>
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<TD width="128 pixels"><br>
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<font size="1">Explanation of Responses : <br><br><br>
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<TD width="60%"valign="top"><font size="1">** Intentional misstatements or omissions of facts constitute Federal Criminal Violations.<br> See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).<br><br>Note: File three copies of this
Form, one of which must be manually signed. If space is insufficient,<br> See Instruction 6 for procedure.<br><br>Potential persons who are to respond to the collection of information contained in this form are not<br>required to respond unless the form displays a currently valid
OMB number.
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<TD width="40%"valign="top"><font size="1">________________________________ __________________<br>** Signature of Reporting Person Date<br><br><b>
<br>John R. Belk</b><br><br><br>
<p align="right">Page 2<br>SEC 1474 (3-99)</p>
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