UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Eisman, Wallace P.
P.O. Box 696000
San Antonio, Texas 78269-6000
2. Issuer Name and Ticker or Trading Symbol
Ultramar Diamond Shamrock Corporation
(UDS)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
November 30, 1998
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Senior Vice President-Refining Southwest
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 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 |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |(c) |P |V|11.52 |A |(c) | |D | |
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Common Stock |11/6/9|P | |7,000 |A |$28.11 | |D | |
|8 | | | | | | | | |
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Common Stock |11/23/|F | |187 |D |$28.25 | |D | |
|98 | | | | | | | | |
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Common Stock |11/23/|F | |708 |D |$28.25 | |D | |
|98 | | | | | | | | |
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CommonStock |11/23/|M | |1,163 |A |$17.1876 | |D | |
|98 | | | | | | | | |
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Common Stock |11/23/|F | |147 |D |$28.25 | |D | |
|98 | | | | | | | | |
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Common Stock |11/23/|F | |792 |D |$28.25 | |D | |
|98 | | | | | | | | |
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Common Stock |11/23/|M | |1,148 |A |$19.4853 |11,142.12 (b) |D | |
|98 | | | | | | | | |
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Common Stock | | | | | | |3,605 (d) |I | |
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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 | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price 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 |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Employee Stock option |$17.1876|11/23|M | |1,163 |D |05/04|05/04|Common Stock|1,163 |$17.187| |D | |
(right to Buy)(g) | |/98 | | | | |/95 |/02 | | |6 | | | |
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Employee Stock option |$28.25 |11/23|A |V|708 |A |11/23|05/04|Common Stock|708 |$28.25 | |D | |
(right to Buy)(g) | |/98 | | | | |/00 |/02 | | | | | | |
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Employee Stock option |$19.4853|11/23|M | |1,148 |D |02/01|02/01|Common Stock|1,148 |$19.485| |D | |
(right to Buy)(g) | |/98 | | | | |/96 |/03 | | |3 | | | |
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Employee Stock option |$28.25 |11/23|A |V|792 |A |11/23|02/01|Common Stock|792 |$28.25 |145,471 |D | |
(right to Buy)(g) | |/98 | | | | |/00 |/03 | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(b) 595 of such shares were issued pursuant to Long Term Incentive Plans and
remain subject to forfeiture as of
November 30, 1998.
(c) These shares were acquired pursuant to the Ultramar Diamond Shamrock
Corporation's Dividend
Reinvestment Plan at prices ranging from $25.65
to $32.68 on the following dates: June 5, 1998 and September 8, 1998.
(d) Held by Trustee of the Company's Employee Stock Ownership Plans.
(g) Employee stock option granted under the Company's Long-Term Incentive
Plans.
SIGNATURE OF REPORTING PERSON
/s/ Wallace P. Eisman (By Power of Attorney)
DATE
December 10, 1998
