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OMB APPROVAL
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OMB Number 3235-0287
Expires: April 30, 1997
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
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
[ ] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person
Feinberg Stephen
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(Last) (First) (Middle)
c/o Cerberus Partners, L.P.
950 Third Avenue, 20th Floor
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(Street)
New York NY 10022
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
PhoneTel Technologies, Inc. (PHN)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
December/1996
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [X***] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
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FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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By parner-
due Common ship and
Term Note * 12/18/96 J* * immed. 6/30/99 Stock 2,398,462 * -0- I** corporations
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</TABLE>
* On December 18, 1996, PhoneTel Technologies, Inc. ("PhoneTel") prepaid the
entire principal amount of a term note (the "Note"), payable by PhoneTel in
the principal amount of Fourteen Million Five Hundred Thousand Dollars
($14,500,000), of which Cerberus Partners L.P., a Delaware limited partnership
("Cerberus"), was the record holder. While the Note was outstanding, the Note
was convertible, at the option of the holder thereof, into either (i) 833,333
shares of PhoneTel Series B Special Preferred Stock (each of which was
convertible by the holder thereof into twenty (20) shares of PhoneTel common
stock) for each $100,000 converted or (ii) 16,666.667 shares of PhoneTel common
stock for each $100,000 converted. Pursuant to participation agreements entered
into with Cerberus, (a) Styx Partners, L.P., a Delaware limited partnership
("Styx"), was the beneficial owner of $2,279,653 principal amount of the Note,
(b) Long Horizons Fund, L.P., a Delaware limited partnership ("Horizons"), was
the beneficial owner of $2,374,639 principal amount of the Note, (c) Cerberus
International, Ltd., a corporation organized under the laws of the Bahamas
("International"), was the beneficial owner of $2,056,569 principal amount of
the Note, (d) Ultra Cerberus Fund, Ltd., a corporation organized under the
laws of the Bahamas ("Ultra"), was the beneficial owner of $189,971 principal
amount of the Note and (e) Styx International, Ltd., a corporation organized
under the laws of the Bahamas ("Styx International"), was the beneficial owner
of $94,986 principal amount of the Note. Cerberus was the beneficial owner of
$2,818,199 principal amount of the Note.
** Stephen Feinberg possesses voting and investment control over all securities
owned by Cerberus, Styx, Horizons, International, Ultra and Styx International.
In addition, pursuant to participation agreements entered into with Cerberus,
(i) $4,576,750 principal amount of the Note was beneficially owned by various
other persons and entities for which Stephen Feinberg possesses certain
investment authority (the "Funds") and (ii) $109,233 principal amount of the
Note was beneficially owned by a partnership for which Stephen Feinberg
possesses no voting or investment authority.
*** The reporting person's interest is limited to the extent of his pecuniary
interest in Cerberus, Styx, Horizons, International, Ultra, Styx International
and the Funds, if any.
/s/ Stephen Feinberg December 31, 1996
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedures.
