FORM 3
U.S. SECURITIES AND EXCHANGE COMMISSION _____________________
WASHINGTON, D.C. 20549 | OMB APPROVAL |
INITIAL STATEMENT OF |_____________________|
BENEFICIAL OWNERSHIP OF SECURITIES |OMB NUMBER: 3235-0104|
|EXPIRES: |
| SEPTEMBER 30, 1998 |
Filed pursuant to Section 16(a) of the |ESTIMATED AVERAGE |
Securities Exchange Act of 1934, |BURDEN HOURS |
Section 17(a) of the Public Utility |PER RESPONSE 0.5 |
Holding Company Act of 1935 |_____________________|
or Section 30(f) of the Investment
Company Act of 1940
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1. Name and Address of Reporting Person
HFS Incorporated
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(Last) (First) (Middle)
6 Sylvan Way
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(Street)
Parsippany New Jersey 07054
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
November 19, 1997
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3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
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4. Issuer Name and Ticker or Trading Symbol
Jackson Hewitt Inc. (JTAX)
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5. RELATIONSHIP OF REPORTING PERSON(S) TO ISSUER (CHECK ALL APPLICABLE)
( ) DIRECTOR
( X) 10% OWNER
( ) OFFICER (GIVE TITLE BELOW)
( ) OTHER (SPECIFY TITLE BELOW)
_____________________________________
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6. IF AMENDMENT, DATE OF ORIGINAL (MONTH/DAY/YEAR)
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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 BENEFICIALLY OWNED
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|1. TITLE OF SECURITY|2. AMOUNT OF |3. OWNERSHIP |4. NATURE OF INDIRECT |
| (INSTR. 4) | SECURITIES | FORM DIRECT| BENEFICIAL OWNERSHIP|
| | BENEFICIALLY| DIRECT (D) | (INSTR. 5) |
| | OWNED | OR INDIRECT| |
| | (INSTR. 4) | (I) (INSTR.| |
| | | 5) | |
|____________________|_______________|______________|_______________________|
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TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security (Instr. 4)
Right to acquire Common Stock (1)
Right to vote Common Stock (2)
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2. Date Exercisable and Expiration Date (Month/Day/Year)
(1) (2) (1) (2)
____________________ ______________________
Date Exercisable Expiration Date
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3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
Common Stock (1) (2)
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Title Amount or Number of Shares
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4. Conversion or Exercise Price of Derivative Security
(1)
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5. Ownership Form of Derivative Security: Direct(D) or Indirect(I)(Instr. 5)
I(1) D(2)
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6. Nature of Indirect Beneficial Ownership (Instr. 5)
Through HJ Acquisition Corp., a wholly owned subsidiary
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EXPLANATION OF RESPONSES: See attached footnotes (1) and (2).
HFS Incorporated
By: /s/ James E. Buckman December 1, 1997
___________________________________ ____________________
** SIGNATURE OF REPORTING PERSON DATE
Name: James E. Buckman
Title: Senior Executive Vice President &
General Counsel
_____________________________
** 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 PROCEDURE
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOR REQUIRED TO RESPOND UNLESS THE FORM
DISPLAYS A CURRENTLY VALID OMB NUMBER.
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(1) On November 19, 1997, HFS Incorporated ("Parent"), HJ
Acquisition Corp., a wholly owned subsidiary of Parent
(the "Purchaser"), and Jackson Hewitt Inc. (the
"Company") entered into an Agreement and Plan of Merger
(the "Merger Agreement") providing for, among other
things, the commencement by the Purchaser of a tender
offer for all of the shares of common stock, par value
$0.02 (the "Shares"), of the Company (the "Offer"), and
the merger of the Purchaser with and into the Company.
In connection with the Merger Agreement, Parent, the
Purchaser and the Company entered into a Stock Option
Agreement (the "Stock Option Agreement") pursuant to
which, among other things, the Company granted the
Purchaser an irrevocable option to purchase up to
1,326,331 Shares at a price of $68.00 per Share payable
in cash, upon the occurrence of certain conditions
specified in the Stock Option Agreement.
(2) On November 19, 1997, Parent and the Purchaser
entered into Shareholders Agreements (collectively, the
"Shareholders Agreements"), with each of the Company's
directors and executive officers and with a shareholder
of the Company (collectively, the "Selling Shareholders")
who beneficially own an aggregate of 817,593 Shares, of
which 316,074 Shares are issuable upon exercise of stock
options. Pursuant to the Shareholders Agreements, among
other things, each Selling Shareholder has (i) agreed to
tender its Shares in the Offer (including any Shares that
are issued upon exercise of its stock options prior to
the expiration of the Offer) and (ii) delivered a proxy to
Parent to vote, or grant a consent or approval in respect
of, its Shares in respect of certain matters.
