U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 4
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Guthrie, Roy A.
250 East Carpenter Freeway
Irving, TX 75062-2729
2. Issuer Name and Ticker or Trading Symbol
Associates First Capital Corporation
AFS
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
5/1996
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Executive Vice President, Comptroller, Chief Accounting Officer, Chief
Financial Officer
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Class A Common Stock |5/8/19|A (1|V|8,110 |A |(1) | |D | |
|96 |) | | | | | | | |
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Class A Common Stock |5/8/19|J (2| |2,500 |A |$29.00 |10,610 |D | |
|96 |) | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Option with Stock Appr|$29.00 |5/8/1|A (3|V|34,480 |A |(3) |5/7/2|Class A Comm|34,480 |(3) |34,480 |D | |
eciation Rights | |996 |) | | | | |006 |on Stock | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) These restricted shares of Class A Common Stock were granted by the issuer
without payment by me. The grant includes the right, subject to
approval by the issuer, to have shares withheld to satisfy income tax
obligations.
(2) Purchased from underwriter in initial public offering at public offering
price.
(3) These options with tandem stock appreciation rights were granted without
payment by me. Stock appreciation rights were granted in tandem
with all of these options. The options and tandem stock appreciation rights
are exercisable, as to 17,240 shares, in full five years after the date of
grant. The options and tandem stock appreciation rights are exercisable, as to
17,240 shares, to the extent of 33 1/3% of such shares after one
year from the date of grant, 66 2/3% after two years and in full after three
years. The options and tandem stock appreciation rights include the right,
subject to approval by the issuer, to have shares withheld to satisfy income
tax obligations.
SIGNATURE OF REPORTING PERSON
/s/Timothy M. Hayes signing on behalf of Ray A. Guthrie
DATE
June 4, 1996
