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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
PROVIDENT AMERICAN CORPORATION
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(Name of Issuer)
Common Voting Stock
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(Title of Class of Securities)
743832-990
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(CUSIP Number)
Anthony R. Verdi, Chief Financial Officer, Provident American Corporation, 2500
DeKalb Pike, P. O. Box 511, Norristown, PA 19404-0511
Telephone: (610) 279-2500
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
June 18, 1997
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
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CUSIP No. 743832-990 13-D
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1 NAME OF REPORTING PERSONS
S.S OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Richard E. Field ("Field")........Social Security No.: ###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
SC, PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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NUMBER OF | 7 | SOLE VOTING POWER 457,500
SHARES | |
BENEFICIALLY | |
OWNED BY | 8 | SHARED VOTING POWER
EACH | |
REPORTING | 9 | SOLE DISPOSITIVE POWER 457,500
PERSON WITH | |
| 10 | SHARED DISPOSITIVE POWER
| |
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
457,500
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS
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Item 5. Interest in Securities of the Issuer.
Richard E. Field
(a) 457,500 shares of Issuer's Common Voting Stock,
representing 4.5% of outstanding shares
(b) Sole power to vote and dispose of 457,500 shares
(c) On June 9, 1997, Field sold 50,000 shares of the
Issuer's Common Voting Stock for a total consideration
of $250,000 at a price per share of $5.00 in a market
transaction. On June 18, 1997, Field sold 200,000
shares of the Issuer's Common Voting Stock for a total
consideration of $841,437.50 at a price per share of
$4.21 in a market transaction. The two transactions
reduced the number of shares held by Field from
707,500 to 457,500 and the percentage of the class of
shares held from 7.0% to 4.5%.
(d) Not applicable
(e) Not applicable
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
July 17, 1997
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Date
/s/ Richard E. Field
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Signature
Richard E. Field
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Name/Title
