- ----------- -----------------------------
| 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
Calvert, Horace A. |
- --------------------------------------------------| 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 | X Director 10% Owner | Filing
(Month/Day/ | ----- ----- |
Year) | X Officer Other | X Form filed by
| ----- ----- | --- One Reporting
| (give title below) (specify below) | Person
| |
| Chief Operating Officer | Form filed by
| | --- 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 | 01/01/98 - 12/31/98
- --------------------------------------------------------------------------------
3. Transaction Code | 4. Securities Acquired (A) or Disposed of (D)
(Instr. 8) | (Instr. 3, 4 and 5)
|
- ----------------------------|---------------------------------------------------
Code V | Amount | (A) or (D) | Price
- ----------------------------|------------------|-----------------|--------------
(a) I | 1,232 | A |9.00 - 19.25
- --------------------------------------------------------------------------------
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) 527,928 | 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 | 2.7833 |
- --------------------------------------------|----------------|------------------
(b) Options - Right To Buy | 12.5625 |
- --------------------------------------------|----------------|------------------
(c) Options - Right To Buy | 12.6875 |
- --------------------------------------------|----------------|------------------
(d) Options - Right To Buy | 20.50 | 12/03/98
- --------------------------------------------|----------------|------------------
(e) Options - Right To Buy | 20.25 | 12/03/98
- --------------------------------------------|----------------|------------------
(f) Options - Right To Buy | 20.00 | 12/03/98
- --------------------------------------------|----------------|------------------
(g) Options - Right To Buy | 20.00 | 12/03/98
- --------------------------------------------|----------------|------------------
(h) Options - Right To Buy | 19.5625 | 12/03/98
- --------------------------------------------|----------------|------------------
(i) Options - Right To Buy | 19.40625 | 12/03/98
- --------------------------------------------|----------------|------------------
(j) Options - Right To Buy | 19.50 | 12/03/98
- --------------------------------------------|----------------|------------------
(k) Options - Right To Buy | 19.5625 | 12/03/98
- --------------------------------------------|----------------|------------------
(l) Options - Right To Buy | 19.375 | 12/03/98
- --------------------------------------------|----------------|------------------
(m) Options - Right To Buy | 17.1875 | 12/03/98
- --------------------------------------------|----------------|------------------
(n) Options - Right To Buy | 17.25 | 12/03/98
- --------------------------------------------|----------------|------------------
(o) Options - Right To Buy | 17.53125 | 12/03/98
- --------------------------------------------|----------------|------------------
(p) Options - Right To Buy | 17.75 | 12/03/98
- --------------------------------------------|----------------|------------------
(q) Options - Right To Buy | 17.78125 | 12/03/98
- --------------------------------------------|----------------|------------------
(r) Options - Right To Buy | 17.84375 | 12/03/98
- --------------------------------------------|----------------|------------------
(s) Options - Right To Buy | 17.90625 | 12/03/98
- --------------------------------------------|----------------|------------------
(t) Options - Right To Buy | 17.96875 | 12/03/98
- --------------------------------------------|----------------|------------------
(u) Options - Right To Buy | 17.6875 | 12/03/98
- --------------------------------------------|----------------|------------------
(v) Options - Right To Buy | 17.5625 | 12/03/98
- --------------------------------------------|----------------|------------------
(w) Options - Right To Buy | 17.75 | 12/03/98
- --------------------------------------------|----------------|------------------
(x) Warrants - Right To Buy | 6.525 |
- --------------------------------------------|----------------|------------------
(y) Warrants - Right To Buy | 12.00 |
- --------------------------------------------|----------------|------------------
(z) Warrants - Right To Buy | 20.50 | 12/03/98
- --------------------------------------------|----------------|------------------
(aa) Warrants - Right To Buy | 11.75 |
- --------------------------------------------------------------------------------
<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 |
- --------------------------------------------|----------------|------------------
(bb) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(cc) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(dd) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(ee) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(ff) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(gg) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(hh) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(ii) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(jj) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(kk) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(ll) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(mm) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(nn) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(oo) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(pp) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(qq) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(rr) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(ss) Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(tt)Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(uu)Options - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------|----------------|------------------
(vv) Warrants - Right To Buy | 13.9375 (9) | 12/03/98
- --------------------------------------------------------------------------------
<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) | | | 1 | 06/21/99
- -------------------|-------------|---------------|---------------|--------------
(b) | | | 3 | 11/29/05
- -------------------|-------------|---------------|---------------|--------------
(c) | | | 4 | 04/22/06
- -------------------|-------------|---------------|---------------|--------------
(d) D (6) | | 14,412 | 2 | 11/29/01
- -------------------|-------------|---------------|---------------|--------------
(e) D (6) | | 32,650 | 2 | 12/02/01
- -------------------|-------------|---------------|---------------|--------------
(f) D (6) | | 33,006 | 2 | 12/03/01
- -------------------|-------------|---------------|---------------|--------------
(g) D (6) | | 6,430 | 2 | 12/04/01
- -------------------|-------------|---------------|---------------|--------------
(h) D (6) | | 71,082 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(i) D (6) | | 9,600 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(j) D (6) | | 8,200 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(k) D (6) | | 2,000 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(l) D (6) | | 1,000 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(m) D (6) | | 24,000 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(n) D (6) | | 39,400 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(o) D (6) | | 1,000 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(p) D (6) | | 1,000 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(q) D (6) | | 3,000 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(r) D (6) | | 200 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(s) D (6) | | 2,400 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(t) D (6) | | 3,000 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(u) D (6) | | 700 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(v) D (6) | | 10,000 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(w) D (6) | | 2,300 | 2 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(x) | | | 2 | 12/10/00
- -------------------|-------------|---------------|---------------|--------------
(y) | | | 07/10/94 | 04/11/00
- -------------------|-------------|---------------|---------------|--------------
(z) D (6) | | 200,000 | 5 | 11/20/02
- -------------------|-------------|---------------|---------------|--------------
(aa) | | | 10/02/98 | 10/02/03
- --------------------------------------------------------------------------------
<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
- -------------------|-------------|---------------|---------------|--------------
(bb) A (7) | 14,412 | | 12/03/98 | 11/29/01
- -------------------|-------------|---------------|---------------|--------------
(cc) A (7) | 32,650 | | 12/03/98 | 12/02/01
- -------------------|-------------|---------------|---------------|--------------
(dd) A (7) | 33,006 | | 12/03/98 | 12/03/01
- -------------------|-------------|---------------|---------------|--------------
(ee) A (7) | 6,430 | | 12/03/98 | 12/04/01
- -------------------|-------------|---------------|---------------|--------------
(ff) A (7) | 71,082 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(gg) A (7) | 9,600 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(hh) A (7) | 8,200 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(ii) A (7) | 2,000 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(jj) A (7) | 1,000 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(kk) A (7) | 24,000 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(ll) A (7) | 39,400 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(mm) A (7) | 1,000 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(nn) A (7) | 1,000 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(oo) A (7) | 3,000 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(pp) A (7) | 200 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(qq) A (7) | 2,400 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(rr) A (7) | 3,000 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(ss) A (7) | 700 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(tt) A (7) | 10,000 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(uu) A (7) | 2,300 | | 12/03/98 | 12/08/02
- -------------------|-------------|---------------|---------------|--------------
(vv) A (7) | 200,000 | | 8 | 11/20/02
- --------------------------------------------------------------------------------
<PAGE>
FORM 5 - Table II (continued)
- --------------------------------------------------------------------------------
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 | 28,024 |
- -----------------------------------|----------------|---------------------------
(b) Common Stock | 100,000 |
- -----------------------------------|----------------|---------------------------
(c) Common Stock | 50,000 |
- -----------------------------------|----------------|---------------------------
(d) Common Stock | 14,412 |
- -----------------------------------|----------------|---------------------------
(e) Common Stock | 32,650 |
- -----------------------------------|----------------|---------------------------
(f) Common Stock | 33,006 |
- -----------------------------------|----------------|---------------------------
(g) Common Stock | 6,430 |
- -----------------------------------|----------------|---------------------------
(h) Common Stock | 71,082 |
- -----------------------------------|----------------|---------------------------
(i) Common Stock | 9,600 |
- -----------------------------------|----------------|---------------------------
(j) Common Stock | 8,200 |
- -----------------------------------|----------------|---------------------------
(k) Common Stock | 2,000 |
- -----------------------------------|----------------|---------------------------
(l) Common Stock | 1,000 |
- -----------------------------------|----------------|---------------------------
(m) Common Stock | 24,000 |
- -----------------------------------|----------------|---------------------------
(n) Common Stock | 39,400 |
- -----------------------------------|----------------|---------------------------
(o) Common Stock | 1,000 |
- -----------------------------------|----------------|---------------------------
(p) Common Stock | 1,000 |
- -----------------------------------|----------------|---------------------------
(q) Common Stock | 3,000 |
- -----------------------------------|----------------|---------------------------
(r) Common Stock | 200 |
- -----------------------------------|----------------|---------------------------
(s) Common Stock | 2,400 |
- -----------------------------------|----------------|---------------------------
(t) Common Stock | 3,000 |
- -----------------------------------|----------------|---------------------------
(u) Common Stock | 700 |
- -----------------------------------|----------------|---------------------------
(v) Common Stock | 10,000 |
- -----------------------------------|----------------|---------------------------
(w) Common Stock | 2,300 |
- -----------------------------------|----------------|---------------------------
(x) Common Stock | 265,380 |
- -----------------------------------|----------------|---------------------------
(y) Common Stock | 160,038 |
- -----------------------------------|----------------|---------------------------
(z) Common Stock | 200,000 |
- -----------------------------------|----------------|---------------------------
(aa) Common Stock | 75,000 |
- --------------------------------------------------------------------------------
<PAGE>
FORM 5 - Table II (continued)
- --------------------------------------------------------------------------------
7. Title and Amount of Underlying | 8. Price of
Securities (Instr. 3 and 4) | Derivative
- ----------------------------------------------------| Security
Title |Amount or Number| (Instr. 5)
| of Shares |
- -----------------------------------|----------------|---------------------------
(bb) Common Stock | 14,412 |
- -----------------------------------|----------------|---------------------------
(cc) Common Stock | 32,650 |
- -----------------------------------|----------------|---------------------------
(dd) Common Stock | 33,006 |
- -----------------------------------|----------------|---------------------------
(ee) Common Stock | 6,430 |
- -----------------------------------|----------------|---------------------------
(ff) Common Stock | 71,082 |
- -----------------------------------|----------------|---------------------------
(gg) Common Stock | 9,600 |
- -----------------------------------|----------------|---------------------------
(hh) Common Stock | 8,200 |
- -----------------------------------|----------------|---------------------------
(ii) Common Stock | 2,000 |
- -----------------------------------|----------------|---------------------------
(jj) Common Stock | 1,000 |
- -----------------------------------|----------------|---------------------------
(kk) Common Stock | 24,000 |
- -----------------------------------|----------------|---------------------------
(ll) Common Stock | 39,400 |
- -----------------------------------|----------------|---------------------------
(mm) Common Stock | 1,000 |
- -----------------------------------|----------------|---------------------------
(nn) Common Stock | 1,000 |
- -----------------------------------|----------------|---------------------------
(oo) Common Stock | 3,000 |
- -----------------------------------|----------------|---------------------------
(pp) Common Stock | 200 |
- -----------------------------------|----------------|---------------------------
(qq) Common Stock | 2,400 |
- -----------------------------------|----------------|---------------------------
(rr) Common Stock | 3,000 |
- -----------------------------------|----------------|---------------------------
(ss) Common Stock | 700 |
- -----------------------------------|----------------|---------------------------
(tt) Common Stock | 10,000 |
- -----------------------------------|----------------|---------------------------
(uu) Common Stock | 2,300 |
- -----------------------------------|----------------|---------------------------
(vv) Common Stock | 200,000 |
- --------------------------------------------------------------------------------
<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) 28,024 | D |
- ----------------------------|-----------------------|---------------------------
(b) 100,000 | D |
- ----------------------------|-----------------------|---------------------------
(c) 50,000 | D |
- ----------------------------|-----------------------|---------------------------
(d) 0 | D |
- ----------------------------|-----------------------|---------------------------
(e) 0 | D |
- ----------------------------|-----------------------|---------------------------
(f) 0 | D |
- ----------------------------|-----------------------|---------------------------
(g) 0 | D |
- ----------------------------|-----------------------|---------------------------
(h) 0 | D |
- ----------------------------|-----------------------|---------------------------
(i) 0 | D |
- ----------------------------|-----------------------|---------------------------
(j) 0 | D |
- ----------------------------|-----------------------|---------------------------
(k) 0 | D |
- ----------------------------|-----------------------|---------------------------
(l) 0 | D |
- ----------------------------|-----------------------|---------------------------
(m) 0 | D |
- ----------------------------|-----------------------|---------------------------
(n) 0 | D |
- ----------------------------|-----------------------|---------------------------
(o) 0 | D |
- ----------------------------|-----------------------|---------------------------
(p) 0 | D |
- ----------------------------|-----------------------|---------------------------
(q) 0 | D |
- ----------------------------|-----------------------|---------------------------
(r) 0 | D |
- ----------------------------|-----------------------|---------------------------
(s) 0 | D |
- ----------------------------|-----------------------|---------------------------
(t) 0 | D |
- ----------------------------|-----------------------|---------------------------
(u) 0 | D |
- ----------------------------|-----------------------|---------------------------
(v) 0 | D |
- ----------------------------|-----------------------|---------------------------
(w) 0 | D |
- ----------------------------|-----------------------|---------------------------
(x) 265,380 | D |
- ----------------------------|-----------------------|---------------------------
(y) 160,038 | D |
- ----------------------------|-----------------------|---------------------------
(z) 0 | D |
- ----------------------------|-----------------------|---------------------------
(aa) 75,000 | D |
- --------------------------------------------------------------------------------
<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) |
- ----------------------------|-----------------------|---------------------------
(bb) 14,412 | D |
- ----------------------------|-----------------------|---------------------------
(cc) 32,650 | D |
- ----------------------------|-----------------------|---------------------------
(dd) 33,006 | D |
- ----------------------------|-----------------------|---------------------------
(ee) 6,430 | D |
- ----------------------------|-----------------------|---------------------------
(ff) 71,082 | D |
- ----------------------------|-----------------------|---------------------------
(gg) 9,600 | D |
- ----------------------------|-----------------------|---------------------------
(hh) 8,200 | D |
- ----------------------------|-----------------------|---------------------------
(ii) 2,000 | D |
- ----------------------------|-----------------------|---------------------------
(jj) 1,000 | D |
- ----------------------------|-----------------------|---------------------------
(kk) 24,000 | D |
- ----------------------------|-----------------------|---------------------------
(ll) 39,400 | D |
- ----------------------------|-----------------------|---------------------------
(mm) 1,000 | D |
- ----------------------------|-----------------------|---------------------------
(nn) 1,000 | D |
- ----------------------------|-----------------------|---------------------------
(oo) 3,000 | D |
- ----------------------------|-----------------------|---------------------------
(pp) 200 | D |
- ----------------------------|-----------------------|---------------------------
(qq) 2,400 | D |
- ----------------------------|-----------------------|---------------------------
(rr) 3,000 | D |
- ----------------------------|-----------------------|---------------------------
(ss) 700 | D |
- ----------------------------|-----------------------|---------------------------
(tt) 10,000 | D |
- ----------------------------|-----------------------|---------------------------
(uu) 2,300 | D |
- ----------------------------|-----------------------|---------------------------
(vv) 200,000 | D |
- --------------------------------------------------------------------------------
<PAGE>
Explanation of Responses:
1. Options have ten year terms from date of grant of 6/21/89, 50% exercisable
on date of grant, 75% exercisable on second anniversary, 100% exercisable
on third anniversary.
2. These warrants are exercisable upon grant.
3. Options issued have ten year terms from date of grant of 11/29/95, 0%
exercisable on date of grant, 33% exercisable on first anniversary, 66%
exercisable on second anniversary, and 100% exercisable on third
anniversary.
4. Options have ten year terms from date of grant of 4/22/96, 0% exercisable
on date of grant, 33% exercisable on first anniversary, 66% exercisable on
second anniversary, and 100% exercisable on third anniversary.
5. Warrants have five year terms from date of grant of 11/20/97, 20%
exercisable on date of grant. The remaining 80% are exercisable on the
third anniversary of date of grant or, if earlier, in incremental
installments of 20% of the total number of option shares for each 2-point
increase in the market price of the company's stock above the exercise
price which is maintained or exceeded for 10 consecutive trading days.
6. Cancellation of option/warrant in connection with grant of replacement
option/warrant.
7. The reported transaction involved the repricing of an existing
option/warrant. The vesting terms were not amended.
8. Warrants have 5 year terms from original grant date of 11/20/97, with 20%
exercisable on 11/20/97. The remaining 80% are exercisable on 11/20/00 or,
if earlier, in incremental installments of 20% of the total number of
option shares for each 2-point increase in the market value of the
Company's stock above the exercise price which is maintained or exceeded
for 10 consecutive trading days.
9. The exercise price will be $11.9375 if the Company is acquired prior to the
expiration or exercise of the option or warrant.
/s/ Horace A. Calvert 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).
