FORM 3 U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL 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 1990
OMB APPROVAL
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OMB Number: 3235-0414
Expires: September 30, 1998
Estimated average burden
hours per response.....................0.5
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1. Name and Address of Reporting Person
COPPOLA DAVID J.
(Last) (First) (Middle)
500 Craig Road
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(Street)
Manalapan, NJ 07726
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(City) (State) (Zip)
2. Date of Event Requiring
Statement
(Month/Day/Year)
1/27/99
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3. IRS or Social Security Number
of Reporting Person (Voluntary)
4. Issuer Name and Ticker of Trading Symbol
CALTON, INC. (CN)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
____ Director ____ 10% Owner
__X_ Officer (give ____ Other (specify
title below) below)
Vice-President-Treasurer
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6. If Amendment, Date of Original
(Month/Day/Year)
7. Individual or Joint/Group Filing
(Check Applicable Line)
X Form filed by One Reporting Person
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-- Form filed by more than One Reporting Person
TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
<TABLE>
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<S> <C> <C> <C>
1. Title of Security 2. Amount of Securities 3. Ownership Form: Direct 4. Nature of Indirect Beneficial Ownership
(Instr. 3) Beneficially Owned (D) or Indirect (I)(Instr. 5) (Instr. 5)
(Instr. 4)
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Common Stock 12,574 I By 401(K) Plan
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</TABLE>
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* If the form is filed by more than one reporting person, see Instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
<PAGE>
FORM 3 - (continued)
TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
1. Title of Derivative Security
(Instr. 4)
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Employee stock Option (Right to Buy)
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Employee stock Option (Right to Buy)
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Employee stock Option (Right to Buy)
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Employee stock Option (Right to Buy)
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Employee stock Option (Right to Buy)
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Employee stock Option (Right to Buy)
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2. Date Exercisable
and Expiration Date
(Month/Day/Year)
Date Expira-
Exer- tion
cisable Date
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(1) 1/27/09
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(2) 1/29/08
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(3) 4/24/06
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(4) 1/31/06
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(5) 1/25/06
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(5) 7/28/03
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3. Title and Amount of Securities
Underlying Derivative Security
(Instr. 4)
Title Amount
or
Number
of
Shares
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Common Stock 25,000
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Common Stock 10,000
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Common Stock 10,000
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Common Stock 15,000
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Common Stock 10,000
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Common Stock 18,600
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4. Conversion
of Exercise
Price of
Derivative
Security
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1.22
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.50
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.41
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.31
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.41
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.41
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5. Ownership Form of
Derivative
Security:
Direct (D) or
Indirect (I)
(Instr. 5)
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D
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D
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D
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D
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D
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D
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6. Nature of Indirect
Beneficial
Ownership
(Instr. 5)
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Explanation of Responses:
(1) Exercisable in five equal annual installments of 5,000 shares commencing
January 27, 2000
(2) Exercisable in five equal annual installments of 2,000 shares commencing
January 29, 1999.
(3) Exercisable in five equal annual installments of 2,000 shares commencing
April 24, 1997.
(4) Exercisable in five equal annual installments of 3,000 shares commencing
January 30, 1997.
(5) All such options are currently exercisable.
++Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
February 19,1999
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++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.
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.
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