- ----------- -----------------------------
| FORM 5 | | OMB APPROVAL |
- ----------- |---------------------------|
-- |Estimated average burden |
| | Check this box if no longer |hours per response......0.5|
-- subject to Section 16, Form 4 -----------------------------
or Form 5 obligations may
continue. See Instruction 1(b).
--
| | Form 3 Holdings Reported
--
--
| | Form 4 Transactions Reported
--
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ANNUAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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 1940
- --------------------------------------------------------------------------------
1. Name and Address of Reporting Person | 2. Issuer Name and Ticker
| or Trading Symbol
Hoffman, Russell J. |
- --------------------------------------------------| Seitel, Inc. SEI
(Last) (First) (Middle) |
|-----------------------------
| 3. IRS or Social Security
50 Briar Hollow Lane, West 7th Floor | Number of Reporting
- --------------------------------------------------| Person(Voluntary)
(Street) |
|
Houston, Texas 77027 |
- --------------------------------------------------|
(City) (State) (Zip) |
- --------------------------------------------------------------------------------
4. Statement for Month/Year December, 1998
- --------------------------------------------------------------------------------
5. If Amendment, | 6. Relationship of Reporting Person | 7. Individual or
Date of | to Issuer (Check all applicable) | Joint/Group
Original | Director 10% Owner | Filing
(Month/Day/ | ----- ----- |
Year) | X Officer Other | X Form filed by
| ----- ----- | --- One Reporting
| (give title below) (specify below) | Person
| |
| Vice President | Form filed by
| of Corporate Communications | --- more than One
| | Reporting Person
- --------------------------------------------------------------------------------
<PAGE>
Table I - Non-Derivative Securities Acquired,
Disposed of, or Beneficially Owned
- --------------------------------------------------------------------------------
1. Title of Security | 2. Transaction Date
(Instr. 3) | (Month/Day/Year)
- ----------------------------------------------------|---------------------------
(a) Common Stock, Par Value $.01 |
- --------------------------------------------------------------------------------
3. Transaction Code | 4. Securities Acquired (A) or Disposed of (D)
(Instr. 8) | (Instr. 3, 4 and 5)
- ----------------------------|---------------------------------------------------
Code | Amount | (A) or (D) | Price
- ----------------------------|------------------|-----------------|--------------
(a) | | |
- --------------------------------------------------------------------------------
5. Amount of Securities | 6. Ownership Form: | 7. Nature of Indirect
Beneficially Owned | Direct (D) or | Beneficial
at End of Issuer's | Indirect (I) | Ownership
Fiscal Year | (Instr. 4) | (Instr. 4)
(Instr. 3 and 4) | |
- ---------------------------|------------------------|---------------------------
(a) 25,000 | D |
- --------------------------------------------------------------------------------
<PAGE>
Table II - Derivative Securities Acquired, Disposed of,
or Beneficially Owned (e.g., puts, calls,
warrants, options, convertible securities)
- --------------------------------------------------------------------------------
1. Title of Derivative Security | 2. Conversion | 3. Transaction
(Instr. 3) | or Exercise| Date (Month/
| Price of | Day/Year)
| Derivative |
| Security |
- --------------------------------------------|----------------|------------------
(a) Options - Right To Buy | 15.875 | 12/03/98
- --------------------------------------------|----------------|------------------
(b) Options - Right To Buy | 13.9375 (7) | 12/03/98
- --------------------------------------------|----------------|------------------
(c) Warrants - Right To Buy | 15.875 | 12/03/98
- --------------------------------------------|----------------|------------------
(d) Warrants - Right To Buy | 13.9375 (7) | 12/03/98
- --------------------------------------------|----------------|------------------
(e) Warrants - Right To Buy | (3) |
- --------------------------------------------|----------------|------------------
(f) Warrants - Right To Buy | 11.75 |
- --------------------------------------------|----------------|------------------
| |
- --------------------------------------------------------------------------------
<PAGE>
FORM 5 - Table II (continued)
- --------------------------------------------------------------------------------
4. Transaction | 5. Number of Derivative | 6. Date Exercisable and
Code | Securities Acquired | Expiration Date
(Instr. 8) | | (Month/Day/Year)
- -------------------|-----------------------------|------------------------------
T | (A) | (D) | Date | Expiration
| | | Exercisable | Date
- -------------------|-------------|---------------|---------------|--------------
(a) D (4) | | 18,897 | (1) | 04/23/08
- -------------------|-------------|---------------|---------------|--------------
(b) A (5) | 18,897 | | (6) | 04/23/08
- -------------------|-------------|---------------|---------------|--------------
(c) D (4) | | 81,103 | (1) | 04/23/08
- -------------------|-------------|---------------|---------------|--------------
(d) A (5) | 81,103 | | (6) | 04/23/08
- -------------------|-------------|---------------|---------------|--------------
(e) | | | (2) | 04/23/08
- -------------------|-------------|---------------|---------------|--------------
(f) | | | 10/02/98 | 10/02/03
- -------------------|-------------|---------------|---------------|--------------
| | | |
- --------------------------------------------------------------------------------
7. Title and Amount of Underlying | 8. Price of
Securities (Instr. 3 and 4) | Derivative
- ----------------------------------------------------| Security
Title |Amount or Number| (Instr. 5)
| of Shares |
- -----------------------------------|----------------|---------------------------
(a) Common Stock | 18,897 |
- -----------------------------------|----------------|---------------------------
(b) Common Stock | 18,897 |
- -----------------------------------|----------------|---------------------------
(c) Common Stock | 81,103 |
- -----------------------------------|----------------|---------------------------
(d) Common Stock | 81,103 |
- -----------------------------------|----------------|---------------------------
(e) Common Stock | 150,000 |
- -----------------------------------|----------------|---------------------------
(f) Common Stock | 25,000 |
- -----------------------------------|----------------|---------------------------
| |
- --------------------------------------------------------------------------------
<PAGE>
FORM 5 - Table II (continued)
- --------------------------------------------------------------------------------
9. Number of Derivative | 10. Ownership Form | 11. Nature of Indirect
Securities Beneficially| of Derivative | Beneficial
Owned at End of Month | Security: Direct | Ownership
(Instr. 4) | (D) or Indirect | (Instr. 4)
| (I) (Instr. 4) |
- ----------------------------|-----------------------|---------------------------
(a) 0 | D |
- ----------------------------|-----------------------|---------------------------
(b) 18,897 | D |
- ----------------------------|-----------------------|---------------------------
(c) 0 | D |
- ----------------------------|-----------------------|---------------------------
(d) 81,103 | D |
- ----------------------------|-----------------------|---------------------------
(e) 150,000 | D |
- ----------------------------|-----------------------|---------------------------
(f) 25,000 | D |
- ----------------------------|-----------------------|---------------------------
| |
- --------------------------------------------------------------------------------
Explanation of Responses:
1. Options have 10 year terms from date of grant of 4/23/98, 0% exercisable on
date of grant, 33% exercisable on first anniversary, 66% exercisable on
second anniversary, 100% exercisable upon third anniversary.
2. Warrants vest as follows:
(i) the first 50,000 warrants vest upon an increase in the p/e multiple of
5.0 or more over the base multiple of 15.119;
(ii) an additional 50,000 warrants vest upon an increase in the p/e
multiple of 10.0 or more over the base multiple of 15.119; and
(iii) the final 50,000 warrants vest upon an increase in the p/e multiple of
15.0 or more over the base multiple of 15.119.
Such vesting will be effective as of January 2 of the year following the
year to which such multiple increase relates.
3. The exercise price equals the closing price of the common stock on the
vesting date as described in Note 2 above.
4. Cancellation of option/warrant in connetion with grant of replacement
option/warrant.
5. The reported transaction involved the repricing of an existing
option/warrant. The vesting terms were not amended.
6. Vesting of this replacement option/warrant is tied to the date of grant of
the original option/warrant (4/23/98) as follows: 33% exercisable on
4/23/99, 66% exercisable on 4/23/00 and 100% exercisable on 4/23/01.
7. The exercise price will be $11.9375 if the Company is acquired prior to the
exercise or expiration of the option or warrant.
/s/ Russell J. Hoffman
by Marcia Kendrick 02/12/99
--------------------------------- -----------
**Signature of Reporting Person Date
** Intentional misstatements or omission of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
AUTHORIZATION
The undersigned, Russell J. Hoffman hereby authorizes Marcia Kendrick to
execute any Form 3, Form 4, or Form 5 to be filed with the Securities and
Exchange Commission with respect to Seitel, Inc. for a period of one year from
the date hereof.
Date: August 1, 1998
/s/ Russell J. Hoffman
------------------------------
Russell J. Hoffman
