FORM 4 U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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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(1) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Bryan, J. Shelby
4265 San Felipe, Suite 1413
Houston, TX 77027
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2. Issuer Name and Ticker or Trading Symbol
ICG COMMUNICATIONS, INC. (ICG - AMEX)
(ICGX - NASDAQ)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
March 1997
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer (Check all applicable)
X Director ___ 10% Owner
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X Officer (give title below) ___ Other (specify below)
--- President & CEO
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7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
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___ Form filed by More than One Reporting Person
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TABLE 1 - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF,
OR BENEFICIALLY OWNED
1. Title of 2. Transaction 3. Transaction 4. Securities
Security Date Code Acquired (A) or
(Instr.3) (Month/Day/ (Instr.8) Disposed of (D)
Year) (Instr.3,4,and 5)
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Code V Amount (A)or Price
(D)
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Common Stock 3/18/97 P 2,000 A $13.125
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Common Stock
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5. Amount of 6. Ownership 7. Nature of
Securities Form: Direct Indirect
Beneficially (D) or In- Beneficial
Owned at End direct (I) Ownership
of Month (Instr.4) (Instr.4)
(Instr.3 and 4)
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15,000 D
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2,000 I *
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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).
(Type or Print Responses)
(over)
<PAGE>
FORM 4 (Continued)
TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY
OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
1. Title of 2. Conversion or 3. Transaction 4. Transaction
Derivative Exercise Price Date (Month/ Code
Security of Derivative Day/Year) (Instr.8)
(Instr.3) Security ----------------
Code V
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5. Number of 6. Date Exer- 7. Title and
Derivative cisable and Amount of
Securities Expiration Underlying
Acquired(A) Date (Month/ Securities
or Disposed Day/Year) (Instr.3 and 4)
of (D)(Instr.
3, 4, and 5)
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(A) (D) Date Expira- Title Amount or
Exer- tion Number of
cisable Date Shares
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8. Price of 9. Number of 10. Ownership 11. Nature of
Derivative Derivative Form of Indirect
Security Securities Derivative Beneficial
(Instr.5) Beneficially Security: Ownership
Owned at End Direct (D) (Instr.4)
of Month or Indirect
(Instr.4) (I)(Instr.4)
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EXPLANATION OF RESPONSES:
* 2,000 shares owned by Mr. Bryan's wife, as to which he disclaims
beneficial ownership.
by: /s/ J. Shelby Bryan March 25, 1997
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**SIGNATURE OF REPORTING PERSON DATE
J. Shelby Bryan
**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 SPACED 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
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