UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this 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
Hughes, Keith W.
250 E. 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
01/31/2000
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Chairman and Chief Executive Officer
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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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 Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Class A Common Stock |1/3/20|A |V|40,000 |A |(1) |230,200.27 (2) |D | |
|00 | | | | | | | | |
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Class A Common Stock | | | | | | | |I |By 401(k) plan |
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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 | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Stock Options |$26.5625|1/3/2|A |V|270,000 |A |(3) |1/3/2|Class A Comm|270,000| |270,000 |D | |
| |000 | | | | | |010 |on Stock | | | | | |
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Phantom Stock Units | | | | | | | | | | | |10,501.57 (4|D | |
| | | | | | | | | | | |) | | |
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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. Includes 257.27 shares acquired under the company's discounted employee
stock purchase plan in January 2000.
3. These options were granted by the issuer without payment by me. The
options are exercisable 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 include the right, subject to
approval by the issuer, to have shares withheld to satisfy income tax
obligations.
4. The reported phantom stock shares were acquired pursuant to the company's
excess benefit plan and will be settled upon the reporting person's retirement
or other termination of service. The
acquisition of these shares was made under the exemption provided by Rule
16b-3(c).
SIGNATURE OF REPORTING PERSON
/s/ Frederic C. Liskow on behalf of Keith W. Hughes
DATE
February 9, 2000
