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OMB APPROVAL
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OMB Number 3235-0104
Expires: April 30, 1997
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
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1. Name and Address of Reporting Person
REICH, JACK E.
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(Last) (First) (Middle)
c/o AMERICAN COMMUNICATIONS SERVICES, INC., 301 National Business Parkway
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(Street)
Annapolis Junction MD 20701
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
12/02/96
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
AMERICAN COMMUNICATIONS SERVICES, INC.
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5 Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ ] 10% Owner
[ X ] Officer (give title below) [ ] Other (specify below)
President and Chief Executive Officer - Communications Services Division
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6. If Amendment, Date of Original (Month/Year)
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
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FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Security Exer- tion of Derivative (I) Ownership
(Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
Stock Option
(right to buy) + + Common Stock 800,000 $9.375 D -
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Stock Option
(right to buy) ++ ++ Common Stock 400,000 $9.375 D -
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</TABLE>
Explanation of Responses:
+ This option vests and becomes exercisable as to 200,000 shares annually
commencing December 2, 1997. The reporting person must be employed by the
Company in order for the option to vest and become exercisable pursuant to
the preceding sentence. Upon a change in control of the Company and, in
certain instances, a termination of employment, the option vests and
becomes exercisable in its entirety. Once exercisable as to any shares,
this option will remain exercisable as to such shares for a period of five
years.
++ This option vests and becomes exercisable in its entirety on December 31,
2002; provided that the option will vest and become exercisable annually as
to 100,000 shares commencing January 1, 1998 in the event the Company
attains certain operating goals. The reporting person must be employed by
the Company in order for the option to vest and become exercisable pursuant
to the preceding sentence. Upon a change in control of the Company and, in
certain instances, a termination of employment, the option vests and
becomes exercisable in its entirety.
/s/JACK E. REICH 12/8/96
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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.
