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
Psztur, Walter M.
c/o Internet Commerce Corporation
805 Third Avenue
New York, NY 10022
2. Issuer Name and Ticker or Trading Symbol
Internet Commerce Corporation ("ICCSA")
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
December, 1999
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)
Chief Financial Officer
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
- -----------------------------------------------------------------------------------------------------------------------------------|
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)| |
- -----------------------------------------------------------------------------------------------------------------------------------|
<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------------|
No securities owned
- -----------------------------------------------------------------------------------------------------------------------------------|
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
<PAGE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
- -----------------------------------------------------------------------------------------------------------------------------------|
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)| |
- -----------------------------------------------------------------------------------------------------------------------------------|
<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------------|
Stock Options (1) |$1.40625|Sept. | A | | 8,000 | | (2) |Jan. |Class A |8,000 | $0 | | | |
(Right to Buy) | |24, | | | | | |31, |Common | | | | | |
| |1997 | | | | | |2006 |Stock | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Stock Options (1) |$0.26456|Nov | A | | 28,348 | | (3) |Nov. |Class A |9,449 | $0 | | | |
(Right to Buy) | |13, | | | | | |12, |Common | | | | | |
| |1997 | | | | | |2007 |Stock | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Stock Options (1) |$2.50 |Sept. | A | | 63,652 | | (4) |Jan. |Class A |63,652 | $0 | 100,000(5) | D | |
(Right to Buy) | |25, | | | | | |31, |Common | | | | | |
| |1998 | | | | | |2006 |Stock | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
</TABLE>
Explanation of Responses:
(1) All stock options were granted under Internet Commerce Corporation's 1994
Stock Option Plan and vest upon becoming exercisable.
(2) 2,667 of these stock options became exercisable on September 24, 1997,
1,778 became exercisable on September 24, 1998 and the remaining 3,555
became exercisable on November 18, 1998.
(3) 9,449 of these stock options became exercisable on November 13, 1997, 9,449
became exercisable on November 13, 1998 and the remaining 9,450 became
exercisable on November 18, 1998.
(4) 21,218 of these stock options became exercisable on September 25, 1998 and
the remaining 42,434 became exercisable on November 18, 1998.
(5) Mr. Psztur disclaims beneficial ownership as to a total of 18,174 of these
securities.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ Walter M. Psztur
--------------------------------
** Signature of Reporting Person
December 17, 1999
-----------------
Date
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
SEC 1474 (7-96)
Page 2 of 2
