UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
( ) Form 3 Holdings Reported
( ) Form 4 Transactions Reported
1. Name and Address of Reporting Person
Clark, W. H.
135 South LaSalle Street, Suite 1117
Chicago, Illinois 60603
2. Issuer Name and Ticker or Trading Symbol
Ultramar Diamond Shamrock Corp.
(UDS)
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
December 31, 1996
5. If Amendment, Date of Original (Month/Year)
February 7, 1997
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
Director
7. Individual or Joint/Group Reporting (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
|Transaction| or Disposed of (D) | Securities |ect | Beneficial Ownership |
|Date |Code| | Beneficially |(D)or | |
| | | | A/| | Owned at |Indir | |
| | | Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock |12/03/|D |1,558(b) |D | | |D | |
|96 | | | | | | | |
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Common Stock |12/03/|A |3,895(a) |A |$31.75 |5,382 |D | |
|96 | | | | | | | |
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise Pr | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|ice of | | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity | | | Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Stock option (right to b|$32.35 |12/03| | | |12/03|05/07|Common Stock|1,530 |$32.35 | |D | |
uy)(g) | |/96 | | | |/96 |/06 | | | | | | |
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Stock option (right to b|$26.59 |12/03| | | |12/03|05/02|Common Stock|1,530 |$26.59 | |D | |
uy)(g) | |/96 | | | |/96 |/05 | | | | | | |
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Stock option (right to b|$31.75 |12/03|A |1,000 |A |12/03|12/03|Common Stock|1,000 |$31.75 |4,060 |D | |
uy)(g) | |/96 | | | |/97 |/06 | | | | | | |
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</TABLE>
Explanation of Responses:
(a) 3,895 shares were issued pursuant to the Company's Non-Employee Director
Plan and remain subject to
forfeiture as of December 31,
1996.
(b) As a result of the merger of Diamond Shamrock, Inc. into Ultramar Diamond
Shamrock Corporation, the reporting
person forfeited 1,558 shares of restricted stock previously reported as
beneficially owned by the reporting
person.
(g) Stock option granted under the Company's Long Term Incentive
Plan.
(h) As a result of the merger of Diamond Shamrock, Inc. into Ultramar Diamond
Shamrock Corporation, the reporting
person's stock options vested on December 3,
1996.
SIGNATURE OF REPORTING PERSON
/s/ W. H. CLARK (By Power of Attorney)
DATE
April 8, 1997
