UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL 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 to Section 16.
Form 4 or Form 5 obligations may continue. See Instruction 1(b).
/ / Form 3 Holdings Reported
/ / Form 4 Transactions Reported
1. Name and Address of Reporting Person*
Jones Donald H.
(Last) (First) (Middle)
1 North Shore Center
(Street)
Pittsburgh PA 15212
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
The Associated Group, Inc. (AGRPA, AGRPB)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
1996
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
/x/ Director / / 10% Owner
/ / Officer (give title below) / / Other (specify below)
--------------------------
7. Individual or Joint/Group Reporting
(check applicable line)
_____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
5. Amount
of Secu-
rities
Bene-
ficially
4. Securities Acquired (A) Owned at 6. Ownership
2. Trans- or Disposed of (D) End of Form:
action (Instr. 3, 4 and 5) Issuer's Direct 7. Nature of
Date 3. Trans- ----------------------------- Fiscal (D) or Indirect
(Month/ action (A) Year Indirect Beneficial
1. Title of Security Day/ Code Amount or Price (Instr. (I) Ownership
(Instr. 3) Year) (Instr. 8) (D) 3 and 4) (Instr. 4) (Instr. 4)
- ----------------------------- ---------- ------------- ------------ --- ---------- ----------- ------------- ---------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
</TABLE>
* If the form is filed by more than one reporting person,
see instruction 4(b)(v).
<PAGE>
FORM 5 (continued)
<TABLE>
<CAPTION>
Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
2. Conver- 5. Number of Deriv- 6. Date Exercisable
sion or 3. Trans- ative Securities and Expiration Date
Exercise action Acquired (A) or (Month/Day/Year)
Price of Date Disposed of (D) ----------------------
Deriv- (Month/ 4. Transac- (Instr. 3, 4, and 5) Date
1. Title of Derivative Security ative Day/ tion Code -------------------------- Exercis- Expiration
(Instr. 3) Security Year) (Instr. 8) (A) (D) able Date
- ---------------------------------------- ----------- ---------- ------------- ------------ ------------ ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
Option (right to buy) $29.50 6/6/96 A 2,500 Note(1) 6/6/06
<CAPTION>
9. Number of 10. Ownership
Derivative of
Securities Derivative
7. Title and Amount of Underlying Benefi- Security:
Securities (Instr. 3 and 4) cially Direct 11. Nature of
- ---------------------------------------- 8. Price of Owned at (D) or Indirect
Amount or Derivative End of Indirect Beneficial
Title Number of Security Year (I) Ownership
Shares (Instr. 5) (Instr. 4) (Instr. 4) (Instr. 4)
- --------------------------- ----------- ------------- ------------- -------------- ---------------
<C> <C> <C> <C> <C> <C>
Class B Common Stock(2) 2,500 26,560 D
</TABLE>
Explanation of Responses:
(1) Options granted pursuant to Non-Employee Directors Formula Award Program
under The Associated Group, Inc. Amended and Restated 1994 Stock Option
and Incentive Award Plan. The options become exercisable in 50% increments
on June 6, 1997, and June 6, 1998, respectively.
(2) Under certain circumstances not within the discretion of the reporting
person, the options may be converted into options to purchase an
equivalent number of shares of Class A Common Stock.
- --------------------------------------- --------------------------
**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.
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