F O R M 4 U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 1940
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1.Name and Address of 2.Issuer Name and Ticker 6.Relationship of Reporting
Reporting Person* or Trading Symbol Person to Issuer (check
all Applicable)
Diversified Corporate
Resources, Inc. (HIR)
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
Dillard M. Ted July 1998 X Director ___ 10% Owner
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(Last) (First) (MI) 3.IRS or Soc.Sec.No. 4.Statement for X Officer Other
--- ---
of Reporting Person Month/Year (Give title (specify below)
(Voluntary) below)
12801 No. Central Expressway, Suite 350 President and Secretary
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(Street) ----------------
5.If Amendment, 7.Individual or Joint/Group
Date of Original Filing (Check Applicable
Dallas TX 75243 (Month/Year)
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Line)
(City) (State) (Zip)
X Form filed by One
---
Reporting Person
Form filed by More
---
than One Reporting Person
</TABLE>
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Table I - Non-Derivative Securities Acquired, Disposed of or Beneficially Owned
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<TABLE>
<CAPTION>
<S> <C> <C> <C>
1. Title of Security 2. Transaction 3. Transaction 4. Security Acquired (A)
(Inst.3) Date Code or Disposed of (D)
(Month/ (Instr.8) (Inst.3, 4 & 5)
Day/Yr) _________________________________________
(A)
Code V Amount (D) Price
Common Stock 07/17/98 M 52,500 A $2.50
- ----------------------------------------- ------------------- ------- ----- ---------------- ---- ---------
Common Stock 07/17/98 M 31,500 A $4.00
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Common Stock 07/17/98 F 7,500 D $11 15/16
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- ----------------------------------------- ------------------- ------- ----- ---------------- ---- ---------
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</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
5. Amount of Securities 6. Ownership Form 7. Nature of Indirect
Beneficially Owned at Direct (D) or Beneficial Ownership
at End of Month Indirect (I) (Inst. 4)
(Inst. 3 & 4)
D
- --------------------------------------- ------------------------------ -----------------------------
D
- --------------------------------------- ------------------------------ -----------------------------
134,000 D
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- --------------------------------------- ------------------------------ -----------------------------
</TABLE>
Reminder: Report on a separate line for each class securities owned directly or
indirectly. *If the form is filed by more than one reporting person, see
Instruction 4(b)(v). Page 1
<PAGE>
FORM 4 (continued)
Page 2
<TABLE>
<CAPTION>
<S> <C> <C> <C>
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Table II - Derivative Securities Acquired, Disposed of,
or Beneficially Owned (e.g., puts, calls,
warrants, options, convertible security)
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1. Title of 2. Conversion 3. Transaction 4. Transaction
Derivative or Exercise Date (Month Code
Security Price of (Day/Year) (Instr. 8)
(Instr.3) Derivative
Security Code V
Employee Stock Option Agreement
(Right to Buy) $2.50 07/17/98 M
- ------------------------------------------ -------------------- ---------------- ---------------
Employee Stock Option Agreement
(Right to Buy) $4.00 07/17/98 M
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- ------------------------------------------ -------------------- ---------------- ---------------
- ------------------------------------------ -------------------- ---------------- ---------------
- ------------------------------------------ -------------------- ---------------- ---------------
- ------------------------------------------ -------------------- ---------------- ---------------
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
5. Number of Derivative 6. Date Exercisable 7. Title & Amount of
Securities Acquired & Expiration Date Underlying Securities
(A) or Disposed of (D) (Mon./Day/Year) (Inst. 3 & 4)
(Instr. 3, 4 & 5)
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(A) (D) Date Expiration Title Amount or number
Exercisable Date of Shares
52,500 (1) 12/31/2001 Common Stock 52,500
- ----------------- ----------------- ------------ -------------- -------------- -----------------
31,500 (1) 12/31/2001 Common Stock 31,500
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- ----------------- ----------------- ------------ ------------- -------------- -----------------
- ----------------- ----------------- ------------ ------------- -------------- -----------------
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
8. Price of Derivative 9. Number of Derivative Securities 10. Ownership Form of 11. Nature of Indirect
Security (Inst.5) Beneficially Owned at end of Derivative Security Beneficial
Month (Instr. 4) Direct (D) or Ownership (Instr.4)
Indirect (I) (Instr.4)
D
- ----------------------- ----------------------------------- -------------------------- ------------------------
21,000 D
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- ----------------------- ----------------------------------- -------------------------- ------------------------
- ----------------------- ----------------------------------- -------------------------- ------------------------
<FN>
Explanation of Responses
(1) The vesting schedule for these options is as follows: 52,500 shares as of
December 31, 1996; 31,500 shares as of December 31, 1997; and 21,000 shares as
of December 31, 1998.
</FN>
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
/s/ M. Ted Dillard
**Intentional misstatements or omissions of facts constitute Federal ------------------------------------------
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). **Signature of Reporting Person Date
</TABLE>
Potential persons who are to respond to the collections of information contained
in this form are not required to respond unless the form displays a currently
valid OMD Number.
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