UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[X] Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue.
1. Name and Address of Reporting Person(s)
Sherman, Michael P.
4400 Baker Road
Minnetonka, MN 55343
2. Issuer Name and Ticker or Trading Symbol
Fingerhut Companies, Inc. (FHT)
3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
4. Statement for Month/Year
03/99
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
Executive Vice President,
General Counsel & Secretary
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>
<CAPTION>
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Security 2)Trans- 3.Trans- 4.Securities Acquired(A) 5)Amount of 6) 7)Nature of
action action or Disposed of (D) Securities Indirect
Date Code A Beneficially D Beneficial
(Month/ or Owned at or Ownership
Day/Year) Code V Amount D Price End of Month I
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C><C> <C> <C><C>
Common Stock 03/17/99 U 76,259.00 D $25.000000 0.00 D Direct
Common Stock 03/17/99 U 191.51 D $25.000000 0.00 I by Managed Accoun
t
<CAPTION>
Table II (PART 1) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and
Security or Exercise action action Securities Acquired (A) Expiration Date
Price of Date Code or Disposed of (D)
Derivative
Security Code V A D Exercisable Expiration
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Option (right $8.520000 03/22/99 D V 46,948.00 09/25/99 (1) 09/25/08
to buy)
Non-Qualified Stock Option $4.478200 03/22/99 D V 49,714.00 05/06/97 (2) 06/06/06
(right to buy)
Non-Qualified Stock Option $4.695600 03/22/99 D V 28,750.00 07/25/97 (3) 08/25/06
(right to buy)
Non-Qualified Stock Option $7.108600 03/22/99 D V 12,767.00 07/28/98 (3) 07/28/07
(right to buy)
Non-Qualified Stock Option $8.520000 03/22/99 J (4) 100,000.00 09/25/99 (1) 09/25/08
(right to buy)
Non-Qualified Stock Option $8.520000 03/22/99 D V 53,052.00 09/25/99 (1) 09/25/08
(right to buy)
<CAPTION>
Table II (PART 2) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative 3)Trans- 7)Title and Amount 8)Price 9)Number of 10) 11)Nature of
Security action of Underlying of Deri- Derivative Indirect
Date Securities vative Securities D Beneficial
Amount or Security Beneficially or Ownership
Number of Owned at I
- Title Shares End of Month
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Option (right 03/22/99 Common Stock 46,948.00 $16.480000 0.00 D Direct
to buy)
Non-Qualified Stock Option 03/22/99 Common Stock 49,714.00 $20.521800 0.00 D Direct
(right to buy)
Non-Qualified Stock Option 03/22/99 Common Stock 28,750.00 $20.304400 0.00 D Direct
(right to buy)
Non-Qualified Stock Option 03/22/99 Common Stock 12,767.00 $17.891400 0.00 D Direct
(right to buy)
Non-Qualified Stock Option 03/22/99 Common Stock 100,000.00 D Direct
(right to buy)
Non-Qualified Stock Option 03/22/99 Common Stock 53,052.00 $16.480000 0.00 D Direct
(right to buy)
<FN>
Explanation of Responses:
(1)
These options vest in 4 equal annual installments beginning one year from the date of grant.
(2)
These options vest in 20% annual increments beginning one year from the date of grant.
(3)
These options vest in 33-1/3% annual increments beginning one year from the date of grant.
(4)
This option was cancelled in exchange for 58,824 options to acquire stock of Federated Department Stores, Inc. at an exercise price
of $14.48 per share
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ Sherman, Michael P.
DATE
