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| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
[_] Check this box if
no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Aplin Gregory D.
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(Last) (First) (Middle)
1400 Turbine Drive
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(Street)
Rapid City South Dakota 57701
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol Green Tree Financial Corporation
("GNT")
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3. IRS or Social Security Number of Reporting Person (Voluntary) 000-00-0000
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4. Statement for Month/Year November 1997
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5. If Amendment, Date of Original (Month/Year) 11/25/97
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6. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director [x] Officer [ ] 10% Owner [ ] Other
(give title below) (specify below)
Executive Vice President
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TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<TABLE>
<CAPTION>
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1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
of action action or Disposed of (D) Securities ship of In-
Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene-
Day/ ----------------------------------------------- End of (D) or ficial
Year) Month Indirect Owner-
Code V Amount (A) or Price (Instr. 3 and 4) (I) ship
(D) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Common Stock 11/20/97 P 5,000 (A) $31.0625 9,000 (D)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Print or Type Responses)
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FORM 4 (continued)
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year)
Security
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Code V (A) (D)
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<S> <C> <C> <C> <C> <C> <C>
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Stock Options (1)
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Stock Options (3)
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Stock Options (3)
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Stock Options (3)
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Stock Options (3) $33.50 11/22/97 (A) 35,000
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</TABLE>
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)--CONTINUED
<TABLE>
<CAPTION>
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1. Title of Derivative 6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
Security (Instr. 3) cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative Form of In-
Date ative Secur- of De- direct
(Month/Day/ Secur- ities rivative Bene-
Year) ity Bene- Secu- ficial
(Instr. ficially rity: Owner-
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Date Expira- Amount or at End (D) or (Instr.
Exer- tion Title Number of of Indi- 4)
cisable Date Shares Month rect (1)
(Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
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Stock Options (1) (2) 12/14/2003 Common Stock 80,000 $5.96875
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Stock Options (3) (4) 7/12/2005 Common Stock 80,000 $24.00
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Stock Options (3) (5) 5/15/2006 Common Stock 60,000 $33.375
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Stock Options (3) (6) 12/7/2006 Common Stock 25,000 $23.375(7)
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Stock Options (3) (8) 11/22/2007 Common Stock 35,000 280,000 (D)
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</TABLE>
Explanation of Responses:
(1) Granted pursuant to the Company's 1987 Employee Stock Option Plan.
(2) Vest in 1/3 increments yearly beginning one year from date of grant
(12/14/93).
(3) Granted pursuant to the Company's 1995 Employee Stock Option Plan.
(4) Vest in 1/5 increments yearly beginning one year from date of grant
(7/12/95).
(5) Vest in 1/5 increments yearly beginning one year from date of grant
(5/15/96).
(6) Vest in 1/5 increments yearly beginning one year from date of grant
(12/7/96).
(7) If options are not exercised until after 12/7/2001, the price shall
be $23.375.
(8) Vest in 1/5 increments yearly beginning one year from date of grant
(11/22/97).
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
/s/ GREGORY D. APLIN Dec. 1, 1997
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**Signature of Reporting Person Date
