- ----------- -----------------------------
| 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
Valice, Debra D. |
- --------------------------------------------------| 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 Financial 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 | Amount | (A) or (D) | Price
- ----------------------------|------------------|-----------------|--------------
(a) I | 1,837 | 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) 130,246 | 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 | 12.5625 |
- --------------------------------------------|----------------|------------------
(b) Options - Right To Buy | 16.75 | 12/03/98
- --------------------------------------------|----------------|------------------
(c) Options - Right To Buy | 20.00 | 12/03/98
- --------------------------------------------|----------------|------------------
(d) Options - Right To Buy | 20.00 | 12/03/98
- --------------------------------------------|----------------|------------------
(e) Options - Right To Buy | 20.50 | 12/03/98
- --------------------------------------------|----------------|------------------
(f) Options - Right To Buy | 13.9375(9) | 12/03/98
- --------------------------------------------|----------------|------------------
(g) Options - Right To Buy | 13.9375(9) | 12/03/98
- --------------------------------------------|----------------|------------------
(h) Options - Right To Buy | 13.9375(9) | 12/03/98
- --------------------------------------------|----------------|------------------
(i) Options - Right To Buy | 13.9375(9) | 12/03/98
- --------------------------------------------|----------------|------------------
(j) Warrants - Right To Buy | 13.5625 |
- --------------------------------------------|----------------|------------------
(k) 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) | | | 2 | 11/29/05
- -------------------|-------------|---------------|---------------|--------------
(b) D (5) | | 50,000 | 3 | 9/25/06
- -------------------|-------------|---------------|---------------|--------------
(c) D (5) | | 64,762 | 1 | 7/14/02
- -------------------|-------------|---------------|---------------|--------------
(d) D (5) | | 7,650 | 1 | 12/05/01
- -------------------|-------------|---------------|---------------|--------------
(e) D (5) | | 50,000 | 4 | 11/20/07
- -------------------|-------------|---------------|---------------|--------------
(f) A (6) | 50,000 | | 7 | 9/25/06
- -------------------|-------------|---------------|---------------|--------------
(g) A (6) | 64,762 | | 12/03/98 | 7/14/02
- -------------------|-------------|---------------|---------------|--------------
(h) A (6) | 7,650 | | 12/03/98 | 12/05/01
- -------------------|-------------|---------------|---------------|--------------
(i) A (6) | 50,000 | | 8 | 11/20/07
- -------------------|-------------|---------------|---------------|--------------
(j) | | | 1 | 6/04/01
- -------------------|-------------|---------------|---------------|--------------
(k) | | | 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 | 33,334 |
- -----------------------------------|----------------|---------------------------
(b) Common Stock | 50,000 |
- -----------------------------------|----------------|---------------------------
(c) Common Stock | 64,762 |
- -----------------------------------|----------------|---------------------------
(d) Common Stock | 7,650 |
- -----------------------------------|----------------|---------------------------
(e) Common Stock | 50,000 |
- -----------------------------------|----------------|---------------------------
(f) Common Stock | 50,000 |
- -----------------------------------|----------------|---------------------------
(g) Common Stock | 64,762 |
- -----------------------------------|----------------|---------------------------
(h) Common Stock | 7,650 |
- -----------------------------------|----------------|---------------------------
(i) Common Stock | 50,000 |
- -----------------------------------|----------------|---------------------------
(j) Common Stock | 42,460 |
- -----------------------------------|----------------|---------------------------
(k) Common Stock | 50,000 |
- --------------------------------------------------------------------------------
<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) 33,334 | D |
- ----------------------------|-----------------------|---------------------------
(b) 0 | D |
- ----------------------------|-----------------------|---------------------------
(c) 0 | D |
- ----------------------------|-----------------------|---------------------------
(d) 0 | D |
- ----------------------------|-----------------------|---------------------------
(e) 0 | D |
- ----------------------------|-----------------------|---------------------------
(f) 50,000 | D |
- ----------------------------|-----------------------|---------------------------
(g) 64,762 | D |
- ----------------------------|-----------------------|---------------------------
(h) 7,650 | D |
- ----------------------------|-----------------------|---------------------------
(i) 50,000 | D |
- ----------------------------|-----------------------|---------------------------
(j) 42,460 | D |
- ----------------------------|-----------------------|---------------------------
(k) 50,000 | D |
- --------------------------------------------------------------------------------
Explanation of Responses:
1. These warrants are exercisable upon grant.
2. 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.
3. Options have ten year terms from date of grant of 9/25/96, 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 10 year terms from date of grant of 11/20/97, 10% exercisable
on date of grant, 20% exercisable on first anniversary, 30% exercisable on
second anniversary, 40% exercisable on third anniversary, 50% exercisable
on fourth anniversary, and 100% exercisable on fifth anniversary.
5. Cancellation of option/warrant in connection with grant of replacement
option/warrant.
6. The reported transaction involved the repricing of an existing
option/warrant. The vesting terms were not amended.
7. Vesting of this replacement option is tied to the date of grant of the
original option (9/25/96). The replacement option is 66% exercisable on
12/3/98 and becomes 100% exercisable on 9/25/99.
8. Vesting of this replacement option is tied to the date of grant of the
original option (11/20/97). The replacement option is 20% exercisable on
12/3/98 and becomes 30% exercisable on 11/20/99, 40% exercisable on
11/20/00, 50% exercisable on 11/20/01 and 100% exercisable on 11/20/02.
9. The exercise price will be $11.9375 if the Company is acquired prior to the
exercise of expiration of the option.
/s/ Debra D. Valice 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).
