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- ---------------- U.S. SECURITIES AND EXCHANGED COMMISION ----------------------------
|F O R M 4| Washington, D.C. 20549 | OMB APPROVAL |
- ---------------- |--------------------------|
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |OMB Number 3235-0287|
[ ] Check this box if |Expires: September 30,1998|
no longer Subject Filed pursuant to Section 16(a) of the Securities Exchanged Act of 1934, |Estimated ave. burden |
to Section 16. Section 17(a) of the Public Utility Holding Company Act of 1935 or |hours per response.....0.5|
Section 30(f) of the Investment Company Act 1940 ----------------------------
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|1.Name and Address of Reporting Person* |2.Issuer Name and Ticker or Trading Symbol |6.Relationship of Reporting Person to |
| | | Issuer (Check all Applicable) |
|Ingram Mark S |Ruby Tuesday, Inc. (RI) | |
| | | Director 10% Owner |
|----------------------------------------|------------------------------------------------|--- --- |
| (Last) (First) (MI)|3.IRS or Soc. Sec. No. |4.Statement for Month/ | Officer Other |
| | of Reporting Person | Year |---(give title below) ---(Specify below)|
| 4721 Morrison Drive | (Voluntary) | | |
| P. O. Box 160266 | | May 1997 | |
| | | | Senior Vice President |
|----------------------------------------| |------------------------|----------------------------------------|
| (Street) | |5.If Amendment, Date of |7. Individual or Joint/Group Filing |
| | ###-##-#### | Original (Month/Year) | (Check Applicable Line) |
| | | | |
|Mobile AL 36625 | | | X Form filed by One Reporting Person |
| | | |--- |
| | | | Form filed by More than One |
| | | |--- Reporting Person |
|----------------------------------------------------------------------------------------------------------------------------------|
| (City) (State) (Zip) |
| TABLE I - Non-Derivative Securities Acquired, Disposed of or Beneficially Owned |
|----------------------------------------------------------------------------------------------------------------------------------|
|1.Title of Security |2.Transac- |3.Trans. |4.Security Acquired (A) or |5.Amount of |6. |7.Nature of Indirect|
| (Instr. 3) | tion Date | Code | Disposed of (D) | Securities |Own.| Beneficial |
| |(Mon/Day/Yr)|(Instr.8)| (Instr. 3, 4 & 5) | Beneficially |Form| Ownership |
| | |---------|-------------------------------| Owned at End of|(D) | (Instr. 4) |
| | | | | |(A) | | Month |or | |
| | |Code| V | Amount |(D) | Price | (Instr. 3 & 4) |(I) | |
|-------------------------------|------------|----|----|----------------|----|---------|-----------------|----|--------------------|
|<S> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |
|$.01 Par Common | 05/01/1997 | M | | 696 | A | $17.2500| | | |
| | |(01)| | | | | | | |
|-------------------------------|------------|----|----|----------------|----|---------|-----------------|----|--------------------|
|$.01 Par Common | 05/01/1997 | A | | 104 | A | $.0000| | | |
| | |(01)| | | | | | | |
|-------------------------------|------------|----|----|----------------|----|---------|-----------------|----|--------------------|
|$.01 Par Common | 05/01/1997 | F | | 582 | D | $20.6250| 9047 | D | |
| | |(02)| | | | | | | |
|-------------------------------|------------|----|----|----------------|----|---------|-----------------|----|--------------------|
|$.01 Par Common | | | | | | $.0000| 199 | I |Held in Salary |
| | | | | | | | | |Def.401(k) Plan |
|-------------------------------|------------|----|----|----------------|----|---------|-----------------|----|--------------------|
| | | | | | | | | | |
| | | | | | | | | | |
|-------------------------------|------------|----|----|----------------|----|---------|-----------------|----|--------------------|
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| | | | | | | | | | |
|-------------------------------|------------|----|----|----------------|----|---------|-----------------|----|--------------------|
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|-------------------------------|------------|----|----|----------------|----|---------|-----------------|----|--------------------|
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|-------------------------------|------------|----|----|----------------|----|---------|-----------------|----|--------------------|
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|-------------------------------|------------|----|----|----------------|----|---------|-----------------|----|--------------------|
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Reminder: Report on a separate line for each class securities owned directly or indirectly. SEC 1474 (7-96)
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
PAGE: 1 OF 3
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FORM 4 (continued) TABLE II - Derivative Securities Acquired, Disposed of, Beneficially Owned
(e.g., puts, calls, warrants, options, convertible security)
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|1.Title of|2.Conver-|3. |4.Tran- |5.Number of |6.Date |7.Title and Amount |8.Price of|9.Number |10. |11.Nature |
|Derivative|sion or |Trans| saction| Derivative |Exercisable| of Underlying |Derivative| of |Own.| of |
|Security |Exercise |Date | Code | Securities |and | Securities |Security |Derivative|Form|Indirect |
|(Instr. 3)|Price of |(Mon/|(Instr.8)| Acquired (A) or |Expiration | (Instr. 3 & 4) |(Instr. 5)|Securities|of |Beneficial|
| |Deriva- | Day/| | Disposed of (D) |Date | | |Benefi- |Deri|Ownership |
| |tive |Year)| | (Instr. 3, 4 & 5) |(Month/Day/| | |cially |Sec.|(Instr. 4)|
| |Security | | | | Year) | | |Owned at |Dir.| |
| | | | | |-----------|---------------------| |End of |(D) | |
| | | | | | | | |Amount or | |Month |or | |
| | | |---------|---------------------|Date |Exp. | Title |Number of | |(Instr. 4)|Ind.| |
| | | |Code| V | (A) | (D) |Exbl.|Date | |Shares | | |(I) | |
|----------|---------|-----|----|----|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
|<S> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |
|Employee S| $17.6250|04/04| A | V | 16409| |10/05|04/04|$.01 Par C| 16409| $17.6250 | 16409| D | |
|tk Op Righ| | 1997| | | | | 1999| 2002|ommon | | | | | |
|t to Buy | | | | | | | | | | | | | | |
| | | |(03)| | | | | | | | | | | |
|----------|---------|-----|----|----|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
|Employee S| $17.2500|05/01| A | | 2400| |02/28|02/28|$.01 Par C| 2400| $17.2500 | 2400| D | |
|tk Op Righ| | 1997| | | | | 1999| 2002|ommon | | | | | |
|t to Buy | | | | | | | | | | | | | | |
| | | |(01)| | | | | | | | | | | |
|----------|---------|-----|----|----|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
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|----------|---------|-----|----|----|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
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|----------|---------|-----|----|----|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
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|----------|---------|-----|----|----|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
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|----------|---------|-----|----|----|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
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|----------|---------|-----|----|----|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
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|----------|---------|-----|----|----|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
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|----------|---------|-----|----|----|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
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Explanation of Responses:
(01) Pursuant to the Company's Management Stock Option Program under the Ruby Tuesday, Inc. Stock Incentive Plan, upon meetin
g certain Company financial goals, the Reporting Person receives a 30-day option to purchase up to a pre-established nu
mber of shares of common stock. Upon the exercise of such 30-day option, the Reporting Person received (i) additional
shares of common stock equal to 15% of the shares acquired upon the exercise of such option, and (ii) an option to
purchase up to 3 times the aggregate number of shares acquired upon the exercise of the 30-day option (including the add
itional 15%),all in accordance with the terms of the Program. The options have 5-year term subject to earlier terminatio
n upon certain terminations of employment and vesting thereof may be acceleratedupon a change of control of the Company.
(02) Shares tendered in payment of exercise price of stock option.
(03) Option issued pursuant to the Company's Executive Stock Option Program under the Ruby Tuesday, Inc. Stock Incentive Plan
. Vesting of option will be accelerated in part upon certain terminations of employment and can be accelerated upon a
change of control of the Company.
**Intentional misstatements or omissions of facts constitute Federal /s/Mark S. Ingram 06/10/1997
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------------------ ----------
**Signature of Reporting Person Date
Note: File three copies of this form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure. SEC 1474 (7-96)
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 OMD Number
Ingram, Mark Ruby Tuesday, Inc. MAY-1997 PAGE: 2 OF 3
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