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OMB APPROVAL
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OMB Number 3235-0362
Expires: September 30, 1998
Estimated average burden
hours per response ....... 1.0
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL 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 to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ x ] Form 4 Transactions Reported
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1. Name and Address of Reporting Person*
Fluehr, III, Joseph A.
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(Last) (First) (Middle)
800 Newtown-Richboro Road
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(Street)
Richboro, PA 18954
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(City) (State) (Zip)
Prime Bancorp, Inc./PBNK
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2. Issuer Name and Ticker or Trading Symbol
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
December, 1998
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5. If Amendment, Date of Original (Month/Year)
February, 1999
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ x ] Director [ ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Report
(check applicable line)
X Form Filed by One Reporting Person
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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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<PAGE>
<TABLE>
<CAPTION>
5. 6.
2. 3. 4. Amount of Owner-
Transaction Transaction Securities Acquired (A) or Securities ship
Date Code Disposed of (D) Beneficially Form: 7.
(Month/ (Instr. 8) (Instr. 3, 4 and 5) Owned at End Direct Nature of
Day/ of Issuer's (D) or Indirect
1. Year) Fiscal Year Indirect Beneficial
Title of Security -------------------------- (Instr. 3 (I) Ownership
(Instr. 3) Amount (A)or Price & 4) (Instr.4) (Instr. 4)
(D)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 3/23/94 P4 2,904(1) A $8.5743(1) 2,904(1) I (2)
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85,188(1)(3) (D)(3)
</TABLE>
*If the form is filed by more than one reporting person,
see instruction 4(b)(v)
(1) All amounts have been adjusted to reflect the Issuer's 2-for-1 stock
split during June, 1998 and its ten percent (10%) stock dividend in
February, 1996.
(2) By the Joseph A. Fluehr, III Funeral Home Profit Sharing Trust, dated
December 2, 1986.
(3) This report corrects the total beneficial ownership reported in Mr.
Fluehr's Form 4 for May, 1998 which included 11,000 (post-split) shares in
Table I which were shares underlying stock options and should have been
reported in Table II. This report reflects Mr. Fluehr's total beneficial
ownership in Table I as of December 31, 1998.
<PAGE>
FORM 5 (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- Securities Date Securities Price Bene- ity: In-
cise 3. Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- 4. or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Trans- of (D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date action (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ Code 4 and 5) Date Expira- Number ity Year (I) ship
Security Secur- Day/ (Instr. ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) 8) (A) (D) cisable Date Title Shares 5) 4) 4) 4)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Phantom Stock Common
Units 1-for-1 4/30 A 582.22 (1) (1) Stock 582.22 22.50 582.22 D
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Phantom Stock Common
Units 1-for-1 6/30 A 24.24 (1) (1) Stock 24.24 24.75 24.24 D
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Phantom Stock Common
Units 1-for-1 7/31 A 32.47 (1) (1) Stock 32.47 20.25 32.47 D
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Phantom Stock Common
Units 1-for-1 9/30 A 30.57 (1) (1) Stock 30.57 19.63 30.57 D
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Phantom Stock Common
Units 1-for-1 10/31 A 35.87 (1) (1) Stock 35.87 18.50 35.87 D
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Phantom Stock Common
Units 1-for-1 12/31 A 63.49 (1) (1) Stock 63.49 15.75 63.49 D
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Stock Option 11,000(2) D
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</TABLE>
Explanation of Responses:
(1) The phantom stock units were accrued under the Prime Bancorp, Inc.
Directors Deferred Compensation Plan and are to be settled 100% in cash
upon the departure of the reporting person from the Board of Directors.
All amounts have been adjusted to reflect the Issuer's 2-for-1 stock split
during June, 1998.
(2) As of December 31, 1998, Mr. Fluehr held an option to purchase 11,000
shares of the common stock at an exercise price of $8.975
per share. The option is fully vested and expires on December 13, 2005.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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**Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB number.
