<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
Fensterheim, Asher Cityscape Financial Corp. (CTYS) Issuer (Check all applicable)
- --------------------------------------------------------------------------------------------- X Director X 10% Owner
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- ---
Number of Reporting Month/Year Officer (give Other (Specify
300 Martine Avenue Person (Voluntary) December 1996 ---- title --- below)
- --------------------------------------------- ------------------- below)
(Street) 5. If Amendment,
Date of Original
(Month/Year) ------------------------
White Plains New York 10601
- ------------------------------------------------------------------------------------------------------------------------------------
(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 12/23/96 G(1) V 30,000 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G(1) V 30,000 A I By spouse
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 18,000 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 800 D D
- ----------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 800 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 800 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 800 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 800 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 800 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 800 D D
- ------------------------------------------------------------------------------------------------------------------------------------
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
---------------------------
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
Fensterheim, Asher Cityscape Financial Corp. (CTYS) Issuer (Check all applicable)
- --------------------------------------------------------------------------------------------- X Director X 10% Owner
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- ---
Number of Reporting Month/Year Officer (give Other (Specify
300 Martine Avenue Person (Voluntary) December 1996 ---- title --- below)
- --------------------------------------------- ------------------- below)
(Street) 5. If Amendment,
Date of Original
(Month/Year) ------------------------
White Plains New York 10601
- ------------------------------------------------------------------------------------------------------------------------------------
(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 12/23/96 G V 800 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 800 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 800 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 800 D D
- ----------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 800 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 800 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 640 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 800 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 800 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 640 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Page 2
(Print or Type Responses) SEC 1474 (8/92)
</TABLE>
<PAGE> 3
---------------------------
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
Fensterheim, Asher Cityscape Financial Corp. (CTYS) Issuer (Check all applicable)
- --------------------------------------------------------------------------------------------- X Director X 10% Owner
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- ---
Number of Reporting Month/Year Officer (give Other (Specify
300 Martine Avenue Person (Voluntary) December 1996 ---- title --- below)
- --------------------------------------------- ------------------- below)
(Street) 5. If Amendment,
Date of Original
(Month/Year) ------------------------
White Plains New York 10601
- ------------------------------------------------------------------------------------------------------------------------------------
(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 12/23/96 G V 640 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 12/23/96 G V 640 D D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 5,031,960 D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 30,000 I By spouse
- -----------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Page 3
(Print or Type Responses) SEC 1474 (8/92)
</TABLE>
<PAGE> 4
<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
- ------------------------------------------------------------------------------------------------------------------------------------
Non-Employee $2.63 6/1/96 6/1/05 Common 20,000
Director Stock Stock
Option (right to buy)
- ------------------------------------------------------------------------------------------------------------------------------------
Non-Employee $2.63 6/1/97 6/1/05 Common 20,000
Director Stock Stock
Option (right to buy)
- ------------------------------------------------------------------------------------------------------------------------------------
Non-Employee $22.56 6/12/96 A V 6,000 6/4/97 6/12/06 Common 6,000
Director Stock Stock
Option (right to buy)
- ------------------------------------------------------------------------------------------------------------------------------------
Short Call Option $1.25 7/1/96 3/10/00 Common 1,380,000
(obligation to sell)
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
<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)
- -------------------------------------------------------------------------------------------------------
Non-Employee 20,000 D
Director Stock
Option (right to buy)
- -------------------------------------------------------------------------------------------------------
Non-Employee 20,000 D
Director Stock
Option (right to buy)
- -------------------------------------------------------------------------------------------------------
Non-Employee 6,000 D
Director Stock
Option (right to buy)
- -------------------------------------------------------------------------------------------------------
Short Call Option 1,380,000 D
(obligation to sell)
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
Explanation of Responses:
(1) Gift to spouse who shares reporting person's household
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. /s/ Asher Fensterheim 01/09/97
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 4
If space provided is insufficient, see Instruction 6 for procedure. SEC 1474 (8/92)
</TABLE>
