<PAGE> 1
FORM 4
/ / Check this box if no longer
subject to Section 16. Form 4 or
Form 5 obligations may
continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Alarcon, Jr. Raul
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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 /x/ 10% Owner
/x/ Officer (give title below) / / Other (specify below)
Chairman of the Board of Director, Chief Executive Officer, and President.
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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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<TABLE>
<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 S 1,750,000 (D) $20.00 26,156,750*** D
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</TABLE>
*** Represents 26,156,750 shares of Class B Common Stock which is convertible on
a 1 to 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)
<PAGE> 2
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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<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------- ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class B
Common
Stock 1-1 11/02/99 C 1,750,000 Immedi- none Class 1,750,000 26,156,750 D
ately A
Common
Stock
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Stock
Options
(right
to buy) $20.00 10/27/99 J(1) 100,000 Immedi- 10/27/09 Class 100,000 100,000 D
ately A
Common
Stock
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</TABLE>
Explanation of Responses:
(1) Grant of non-employee Director Stock Options.
/s/ Raul Alarcon, Jr. 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.
