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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[_] Check box if no longer subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Grimalt Jose
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(Last) (First) (Middle)
3191 Coral Way
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(Street)
Miami, FL 33145
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Spanish Broadcasting System, Inc. (SBSA)
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3. IRS or Social Security Number of Reporting Person, if an entity (Voluntary)
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4. Statement for Month/Year
October 1999
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5. If Amendment, Date of Original (Month/Year)
November 1999
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[X] Director [ ] 10% Owner
[ ] Officer (give title below) [_] Other (specify below)
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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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<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (Month/Day/Year) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class A Common Stock 11/02/99 5 60,000 (D) $20.00 511,650*** D
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*** Represents 511,650 shares of Class B Common Stock which is convertible on a
1 for 1 basis into Class A Common Stock at the option of the registrant; such
shares are included in Table II, column 9 of this Form 4.
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). (Over)
(Over)
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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)
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<CAPTION>
2.
Conver- 5.
sion Number of
or Derivative 6.
Exer- 4. Securities Date
cise 3. Trans- Acquired (A) Exercisable and
Price Trans- action or Disposed Expiration Date
1. of action Code of(D) (Month/Day/Year)
Title of Deriv- Date (Instr. (Instr. 3, -------------------
Derivative ative (Month/ 8) 4 and 5) Date Expira-
Security Secur- Day/ ------------ -------------- Exer- tion
(Instr. 3) ity Year) Code V (A) (D) cisable Date
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Class B Common Stock 1-1 11/02/99 C 60,000 Immediately none
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<TABLE>
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10.
9. Owner-
Number ship
of Form
Deriv- of
7. ative Deriv- 11.
Title and Amount Secur- ative Nature
of Underlying 8. ities Secur- of
Securities Price Bene- ity: In-
(Instr. 3 and 4) of ficially Direct direct
---------------- Deriv- Owned (D) or Bene-
1. Amount ative at End In- ficial
Title of or Secur- of direct Owner-
Derivative Number ity Month (I) ship
Security of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C>
Class A
Common
CLASS B COMMON STOCK Stock 60,000 511,650 D
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</TABLE>
Explanation of Responses:
BY: /s/ Jose Grimalt 12/03/99
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**Signature of Reporting Person Date
*** 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.
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.
