<PAGE>
FORM 4
/ / Check this box if no longer
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 CHANGES IN BENEFICIAL OWNERSHIP
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
Witsell, Jr. Frederick C.
- -------------------------------------------------------
(Last) (First) (Middle)
J.P. Morgan Florida, FSB
109 Royal Palm Way
- -------------------------------------------------------
(Street)
Palm Beach FL 33480
- -------------------------------------------------------
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PENN VIRGINIA CORPORATION (PVA)
3. Statement for Month/Year
May 1998
4. If Amendment, Date of Original (Month/Year)
5. Relationship of Reporting Person to Issuer
(Check if applicable)
__X__ Director _____ 10% Owner
_____ Officer (Give title below) _____ Other (specify below)
_________________________________
6. Individual or Joint/Group Filing
(Check applicable line)
__X_ Form filed by one Reporting Person
____ Form filed by more than one Reporting Person
<TABLE>
Table I - Non-Derivative Securities Acquired, Disposed of, or
Beneficially Owned
<CAPTION>
3. Transaction
2. Transaction Code
Date -----------
1. Title of Security (Mo/Day/Yr) Code V
- ----------------------------- ----------- ---- ---
<S> <C> <C> <C>
Common Stock $6.25 par value 5/5/98 A ---
4. Securities Acquired (A)
or Disposed of (D)
---------------------------
(A) or
1. Title of Security Amount (D) Price
- ----------------------------------- ------ ------- --------
<S> <C> <C> <C>
Common Stock $6.25 par value 600 A $28.0625
6. Ownership
5. Amount of Form
Securities Direct
Beneficially (D) or
owned at Indirect
1. Title of Security End of Month (I)
- ----------------------------------- ------------ ---------
<S> <C> <C>
Common Stock $6.25 par value 11,200 <F1> D
7. Nature of
Indirect
Beneficial
1. Title of Security Ownership
- ----------------------------------- ----------
<S> <C>
Common Stock $6.25 par value ----
</TABLE>
<PAGE>
<TABLE>
Table II -- Derivative Securities Acquired, Disposed of, or
Beneficially Owned (e.g., puts, calls, warrants, options,
convertible securities)
<CAPTION>
2. Conversion or
Exercise Price 3. Transaction
1. Title of Derivative of Derivative Date
Security Security (Mo/Day/Yr)
- ----------------------------- ------------------ ------------
<S> <C> <C>
Nonqualified Stock Options $29.50 1/2/98
5. Number of
Derivatives
Securities
Acquired
(A) or
4. Transaction Disposed
Code (D) of
1. Title of Derivative ------------------ -----------
Security Code V (A) (D)
- ----------------------------- --------- ------ ----- -----
<S> <C> <C> <C> <C>
Nonqualified Stock Options A V 200 ---
6. Date Exer-
ciasable and
Expiration
Date
(Mo/Day/Yr)
------------------
Date Expira-
1. Title of Derivative Exer- tion
Security cisable Date
- ----------------------------- ------- --------
<S> <C> <C>
Nonqualified Stock Options 1/2/99 1/1/08
7. Title and Amount of
Underlying Securities
-------------------------------
1. Title of Derivative Amount or Number
Security Title of Shares
- -------------------------- ---------------- -------------
<S> <C> <C>
Nonqualified Stock Options Common Stock 200
($6.25 par
value)
9. Number of
Derivative
Securities
Beneficially
8. Price of Owned at
1. Title of Derivative Derivative End of
Security Security Month
- ----------------------------- ------------------ ------------
<S> <C> <C>
Nonqualified Stock Options -0- 10,600 <F1>
10. Ownership
Form of
Derivative
Security 11. Nature of
Direct (D) Indirect
1. Title of Derivative of Indirect Beneficial
Security (I) Ownership
- ----------------------------- ------------------ -----------
<S> <C> <C>
Nonqualified Stock Options D ---
</TABLE>
Explanation of Responses.
[FN]
<F1> On August 15, 1997, the common stock of Penn Virginia
Corporation split 2-for-1 resulting in the Reporting
Person's acquisition of an additional 5,300 shares of common
stock and options for an additional 5,200 shares of common
stock.
</FN>
Intentional misstatements or
omissions of facts constitute
Federal Criminal Violations.
Frederick C. Witsell, Jr. June 5, 1998
- ----------------------------- ----------------
Signature of Reporting Person Date
By: /s/ Nancy M. Snyder
------------------------
Nancy M. Snyder
General Counsel and Corporate Secretary
Authorized Signer
