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UNITED STATES
SECURlTIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities and Exchange Act of 1934
(Amendment No.1)*
FIRSTFED BANCORP, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock $.01 Par Value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
33761Q102
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(CUSIP Number)
Check the following box -- if a fee is being paid with the statement (A fee
is not required only if the reporting person: (I) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item l; and (2) has held no amendment subsequent thereto
reporting beneficial ownership of five percent or less of such class.) (See Rule
13d-7.)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE>
SCHEDULE 13G
CUSIP NO. 33761Q102
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
1 Lance S. Gad
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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5 SOLE VOTING POWER
NUMBER OF 68,700
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SHARES
BENEFICIALLY 6 SHARED VOTING POWER
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OWNED BY
7 SOLE DISPOSITIVE POWER
68,700
PERSON -----------------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 68,700
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.8%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON* IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1
a FirstFed Bancorp, Inc.
b 1630 Fourth Avenue North
Bessemer, AL 35020
Item 2
a Name of Person Filing
Lance S. Gad
b Address of Principal Business Office or, if none, Residence
1250 Fence Row Drive
Fairfield, CT 06430
c Citizenship
U.S.A.
d Title of Class of Securities
Common Stock $.01 par value
e CUSIP Number 33761Q102
Item 3
N/A
Item 4
N/A
Item 5 /X/ Filing to report that holder ceased to own 5%
Item 6 N/A
Item 7 N/A
Item 8 N/A
Item 10 Certification
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 8,1999
ss/Lance S. Gad
Lance S. Gad, Principal
