<PAGE> 1
---------------------------
OMB APPROVAL
---------------------------
- ------ OMB Number: 3235-0287
FORM 4 Expires: April 30, 1997
- ------ Estimated average burden
hours per response .... 0.5
---------------------------
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
/ / Check this box if no
longer subject to Filed pursuant to Section 16(a) of the Securities
Section 16. Form 4 Exchange Act of 1934, Section 17(a) of the
or Form 5 obligations Public Utility Holding Company Act of 1935
may continue. See or Section 30(f) of the Investment Company
Instruction 1(b). Act of 1940
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
1. Name and Address of Reporting Person 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person to
Carl, Cheryl P. Cityscape Financial Corp. (CTYS) Issuer (Check all applicable)
- --------------------------------------------------------------------------------------------- Director 10% Owner
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- ---
Number of Reporting Month/Year X Officer (give Other (Specify
182 Kneeland Avenue Person (Voluntary) March 1997 ---- title --- below)
- --------------------------------------------- ------------------- below)
(Street) 5. If Amendment,
Date of Original Secretary
(Month/Year) ------------------------
Yonkers New York 10705
- ------------------------------------------------------------------------------------------------------------------------------------
(City) (State) (Zip) TABLE 1 -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Security 2. Trans- 3. Transac- 4. Securities Acquired (A) 5. Amount of Se- 6. Owner- 7. Nature
(Instr. 3) action tion or Disposed of (D) curities Benefi- ship of In-
Date Code (Instr. 3, 4 and 5) cially Owned at Form: direct
(Instr. 8) End of Month Direct Benefi-
(Month/ (Instr. 3 and 4) (D) or cial
Day/ --------------------------------------- Indirect Owner-
Year) Code V Amount (A) or Price (I) ship
(D) (Instr. 4) (Instr.
4)
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 3/11/97 S 4,000 D $25.00 I By Spouse
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 3/11/97 S 3,800 D $26.00 D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 3/12/97 S 4,000 D $25.00 I By Spouse
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 3/13/97 S 4,800 D $25.50 D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 3/13/97 S 3,400 D $25.50 D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 356,200 D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
(Print or Type Responses) SEC 1474 (8/92)
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
FORM 4 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date Exer- 7. Title and Amount 8. Price
Security sion or action action Derivative cisable and of Underlying of
(Instr. 3) Exercise Date Code Securities Ac- Expiration Securities Deriv-
Price of (Month/ (Instr. 8) quired (A) or Date (Instr. 3 and 4) ative
Deriv- Day/ Disposed of (D) (Month/Day/ Secur-
ative Year) (Instr. 3, 4, Year) ity
Security and 5) (Instr. 5)
-----------------------------------
Date Expira- Amount or
-------------------------- Exer- tion Title Number of
Code V (A) (D) cisable Date Shares
- ------------------------------------------------------------------------------------------------------------------------------------
Employee Stock Option $2.50 7/1/95 6/1/05 Common 40,000
(right to buy) Stock
- ------------------------------------------------------------------------------------------------------------------------------------
Employee Stock Option $2.50 7/1/96 6/1/05 Common 40,000
(right to buy) Stock
- ------------------------------------------------------------------------------------------------------------------------------------
Employee Stock Option $2.50 7/1/97 6/1/05 Common 40,000
(right to buy) Stock
- ------------------------------------------------------------------------------------------------------------------------------------
Employee Stock Option $2.50 7/1/98 6/1/05 Common 30,000
(right to buy) Stock
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. Title of Derivative 9. Number of 10. Ownership 11. Nature of
Security Derivative Form of Indirect
(Instr. 3) Securities Derivative Beneficial
Beneficially Security: Ownership
Owned at End Direct (D) (Instr. 4)
of Month or Indirect (I)
(Instr. 4) (Instr. 4)
- -------------------------------------------------------------------------------------------------------
Employee Stock Option 40,000 D
(right to buy)
- -------------------------------------------------------------------------------------------------------
Employee Stock Option 40,000 D
(right to buy)
- -------------------------------------------------------------------------------------------------------
Employee Stock Option 40,000 D
(right to buy)
- -------------------------------------------------------------------------------------------------------
Employee Stock Option 30,000 D
(right to buy)
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
Explanation of Responses:
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. /s/ Cheryl P. Carl 4/3/97
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------- -------
**Signature of Reporting Person Date
Note. File three copies of this Form, one of which must be manually signed. Page 2
If space provided is insufficient, see Instruction 6 for procedure. SEC 1474 (8/92)
</TABLE>
