- ----------- -----------------------------
| FORM 4 | | 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).
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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 October, 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
10/31/98 | (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 | 10/1/98
- ----------------------------------------------------|---------------------------
(b) Common Stock, Par Value $.01 | 10/2/98
- --------------------------------------------------------------------------------
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) J (5)| | 29,804 | A | 11.0000
- -----------|----------------|------------------|--------------------|-----------
(b) A | | 50,000 | A | 10.3125
- --------------------------------------------------------------------------------
5. Amount of Securities | 6. Ownership Form: | 7. Nature of Indirect
Beneficially Owned | Direct (D) or | Beneficial
at End of Month | Indirect (I) | Ownership
(Instr. 3 and 4) | (Instr. 4) | (Instr. 4)
- ---------------------------|------------------------|---------------------------
(a) | |
- ---------------------------|------------------------|---------------------------
(b) 128,409 | 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 |
- --------------------------------------------|----------------|------------------
(c) Options - Right To Buy | 20.00 |
- --------------------------------------------|----------------|------------------
(d) Options - Right To Buy | 20.00 |
- --------------------------------------------|----------------|------------------
(e) Options - Right To Buy | 20.50 |
- --------------------------------------------|----------------|------------------
(f) Warrants - Right To Buy | 13.5625 |
- --------------------------------------------|----------------|------------------
(g) Warrants - Right To Buy | 11.75 | 10/2/98
- --------------------------------------------|----------------|------------------
| |
- --------------------------------------------------------------------------------
4. Transaction | 5. Number of Derivative | 6. Date Exercisable and
Code | Securities Acquired | Expiration Date
(Instr. 8) | | (Month/Day/Year)
- -------------------|-----------------------------|------------------------------
T | V | (A) | (D) | Date | Expiration
| | | | Exercisable | Date
- -----------|-------|-------------|---------------|---------------|--------------
(a) | | | | 3 | 11/29/05
- -----------|-------|-------------|---------------|---------------|--------------
(b) | | | | 3 | 9/25/06
- -----------|-------|-------------|---------------|---------------|--------------
(c) | | | | 1 | 7/14/02
- -----------|-------|-------------|---------------|---------------|--------------
(d) | | | | 1 | 12/05/01
- -----------|-------|-------------|---------------|---------------|--------------
(e) | | | | 4 | 11/20/07
- -----------|-------|-------------|---------------|---------------|--------------
(f) | | | | 1 | 6/04/01
- -----------|-------|-------------|---------------|---------------|--------------
(g) A | | 50,000 | | 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 | 42,460 |
- -----------------------------------|----------------|---------------------------
(g) Common Stock | 50,000 |
- -----------------------------------|----------------|---------------------------
| |
- --------------------------------------------------------------------------------
<PAGE>
FORM 4 - 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) 50,000 | D |
- ----------------------------|-----------------------|---------------------------
(c) 64,762 | D |
- ----------------------------|-----------------------|---------------------------
(d) 7,650 | D |
- ----------------------------|-----------------------|---------------------------
(e) 50,000 | D |
- ----------------------------|-----------------------|---------------------------
(f) 42,460 | D |
- ----------------------------|-----------------------|---------------------------
(g) 50,000 | D |
- ----------------------------|-----------------------|---------------------------
| |
- --------------------------------------------------------------------------------
Explanation of Responses:
1. These warrants are exercisable upon grant.
2. These warrants are exercisable 90 days from date of grant.
3. Options issued have ten year terms, 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, 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. These shares were acquired effective October 1, 1998, as a result of the
purchase by DDD Energy, Inc., a wholly-owned subsidiary of Seitel, Inc., of
property interests owned by various partnerships, of which the reporting
person is a general partner, in exchange for shares of Seitel, Inc. common
stock.
Notes to Tables I and II:
All share and per share amounts have been adjusted to reflect the
two-for-one stock split in the form of a dividend which was effective
December 12, 1997. The adjustments to the options and warrants were made
pursuant to the terms of the option and warrant plans.
/s/ Debra D. Valice 02/05/99
--------------------------------- -----------
**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).
