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
Robert Taylor
412 E. Maple St.
Jeffersonville, IN 47130
2. Issuer Name and Ticker or Trading Symbol
Community Bank Shares, Inc.
CBIN
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
April, 1999
5. If Amendment, Date of Original (Month/Year)
N/A
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
If officer, give title. Sr. Vice President
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>
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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>
N/A |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
| | | | | | | | | |
|
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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- | |C | |Date |Expir | | |ficially |Ind| |
|tive | |o | | A/|Exer-|ation | Title and Number| |Owned at |ire| |
|Secu- | |d| | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |e|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Employee Stock |$15.75 |04/27/99|A| | 8,000 | | * |4/27/ | Common | 8,000| $0.00| 8,000 | D | N/A |
Options |per sh. | | | | shares | | |2009 | stock |shares| | shares | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
* Stock options vest: 2,000 shares on 4/27/2000
2,000 shares on 4/27/2001
2,000 shares on 4/27/2002
2,000 shares on 4/27/2003
/s/ Robert Taylor 08/05/99
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Signature of Reporting Person Date
