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| FORM 3 |
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OMB Number: 3525-0287
Expires: September 30, 1998
Estimated average burden
hours per response. . . 0.5
U.S. 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)
Public Utility Holding Company Act of 1935 or Section 30(f)
of the Investment Company Act of 1940
1. Name and Address of Reporting Person*
Ford Chris
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(Last) (First) (Middle)
c/o Warrantech Automotive, Inc.
150 Westpark Way
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(Street)
Euless Texas 76040
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
3/15/99
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Warrantech Corporation - WTEC
5. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director
[ } 10% Owner
[ ] Officer (give title below)
[X] Other (specify below)
President of Warrantech Automotive, Inc.
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
____ Form filed by More than One Reporting Person
<TABLE>
TABLE 1 - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF,
OR BENEFICIALLY OWNED
<S> <C> <C> <C>
1. Title of 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
Security (Instr. 4) Benefically Owned Direct (D) or Beneficial
(Inst. 4) Indirect (I) Ownership (Instr. 5)
-------------------------- (Instr. 5)
-------------------------- ----------------
None
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
<PAGE>
FORM 3 (continued)
<TABLE>
TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<C> <S> <S> <S> <S> <S> <S> <S>
1. Title of Derivative 2. Date Exercisable and 3. Title and Amount of 4. Conversion or 5. Ownership Form 6. Nature of
Security (Instr. 4) Expiration Date Securities Underlying Exercise Price of Derivative Indirect
(Month/Day/Year) Derivative Security of Derivative Security: Beneficial
-------------------------- (Instr. 4) Security Direct (D) or Ownership
-------------------------- Indirect (I) (Instr. 5)
Amount or (Instr. 5)
Date Expiration Number of
Exercisable Date Title Shares
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Option to purchase common (1) (2) Common stock 28,571 $3.375 D
stock
</TABLE>
Explanation of Responses:
(1) Fifty percent of the option vests in increments of 5%, 7.5%, 10%, 12.5% and
15% each year from the first to the fifth date of Mr. Ford's employment
anniversary with Warrantech Automotive, Inc., and the remaining fifty percent
vest at an annual rate of 10% over the same period of time, provided that
Warrantech Automotive, Inc. has achieved at least 80% of each of its net sales
revenue and operating income goals as set forth in the approved budget for each
respective fiscal year.
(2) The option is exercisable for five years following its vesting.
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Signature of Reporting Person Date
**** 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.
