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
Bernhard, Jr., J. M.
11100 Mead Road, Second Floor
Baton Rouge, Louisiana 70816
USA
2. Issuer Name and Ticker or Trading Symbol
The Shaw Group Inc.
SGR
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
08/98
5. If Amendment, Date of Original (Month/Year)
08/98
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
President and CEO
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>
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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 |6/02/9|G | |3,680 |D | | |D | |
|8 | | | | | | | | |
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COMMON STOCK |8/25/9|P | |2,100 |A |11.000 | |D | |
|8 | | | | | | | | |
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COMMON STOCK |8/25/9|P | |4,500 |A |11.000 | |D | |
|8 | | | | | | | | |
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COMMON STOCK |8/25/9|P | |43,400 |A |11.375 |1,499,566 |D | |
|8 | | | | | | | | |
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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 | | | 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>
OPTION TO PURCHASE COM|24.00 |2/09/|A | |35,000 A |A,D|2/09/|2/09/|COMMON STOCK|35,000 | |35,000 |D | |
MON STOCK | |98 | | | | |99 |2008 | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
* OPTION GRANTED UNDER THE COMPANY'S 1993 EMPLOYEE STOCK OPTION PLAN TO
BECOME EXERCISABLE
IN 25% INCREMENTS ON EACH OF FEBRUARY 9, 1999, 2000, 2001 AND
2002.
SIGNATURE OF REPORTING PERSON
/s/ J. M. Bernhard, Jr.
DATE
12/29/98
