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OMB APPROVAL
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OMB Number 3235-0287
Expires: April 30, 1997
Estimated average burden
hours per response ....... 0.5
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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.
450 Park Avenue, 28th 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
February/1997
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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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Common Stock 2/7/97 X 250,000* A $ 0.01 I By partner-
ships and
corporations
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Common Stock 2/10/97 S 5,000* D 4.22 I By partner-
ships and
corporations
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Common Stock 2/11/97 S 8,100* D 4.26 I By partner-
ships and
corporations
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Common Stock 2/12/97 S 2,500* D 4.23 I By partner-
ships and
corporations
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Common Stock 2/13/97 S 6,600* D 3.84 I By partner-
ships and
corporations
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Common Stock 2/14/97 S 3,500* D 4.22 I By partner-
ships and
corporations
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Common Stock 2/25/97 S 100,000* D 4.09 124,300*/** I By partner-
ships and
corporations
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
<PAGE>
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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Common Stock
Warrants
(right to buy) $.01 02/07/97 X 250,000 immed 04/01/2006 Common By part-
Stock 250,000 1,798,240*/*** I nerships
and cor-
porations
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</TABLE>
Explanation of Responses:
* The securities acquired or disposed of as set forth herein were acquired or
disposed of, as the case may be, in the aggregate by Cerberus Partners,
L.P., a Delaware limited partnership ("Cerberus"), Styx Partners, L.P., a
Delaware limited partnership ("Styx"), Long Horizons Fund, L.P., a Delaware
limited partnership ("Horizons"), Cerberus International, Ltd. a
corporation organized under the law of the Bahamas ("International"), Ultra
Cerberus Fund, Ltd., a corporation organized under the laws of the Bahamas
("Ultra") and Styx International, Ltd., a corporation organized under the
laws of the Bahamas ("Styx International"). Stephen Feinberg possesses
voting and investment control over all securities owned by Cerberus, Styx,
Horizons, International, Ultra and Styx International. In addition, certain
of the securities acquired or disposed of are owned by various other
persons and entities for which Stephen Feinberg possesses certain
investment authority (the "Funds"). Stephen Feinberg's interest in the
securities acquired or disposed of is limited to the extent of his
pecuniary interest in Cerberus, Styx, Horizons, International, Ultra,
Styx International and the Funds, if any. Also, 1,885 of the common stock
warrants disposed of on Feburary 7, 1997 were beneficially owned by a
partnership for which Stephen Feinberg possesses no voting or investment
authority and no pecuniary interest and 38, 61, 19, 50, 26 and 754 shares
of the common stock disposed of on February 10, 1997, February 11, 1997,
February 12, 1997, February 13, 1997, February 14, 1997 and February 25,
1997, respectively, were beneficially owned by such partnership for which
Stephen Feinberg possesses no voting or investment authority and no
pecuniary interest.
** Of such amount, 937 are beneficially owned by the partnership for which
Stephen Feinberg possesses no voting or investment authority and no
pecuniary interest.
*** Of such amount, 13,555 are beneficially owned by the partnership for which
Stephen Feinberg possesses no voting or investment authority and no
pecuniary interest.
/s/ Stephen Feinberg 03/07/97
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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.
