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
Mahoney, Michael J.
800 Third Avenue
New York, NY 10022
USA
2. Issuer Name and Ticker or Trading Symbol
Viatel, Inc.
VYTL
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
07/31/1998
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
President and Chief Executive Officer
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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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>
Common Stock, $.01 par valu|07/27/|M | |23,333 |A |$3.74 | | | |
e per share |98 | | | | | | | | |
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Common Stock, $.01 par valu|07/27/|M | |23,333 |A |$5.85 |94,999 |D |-- |
e per share |98 | | | | | | | | |
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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- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Time- based Options (R|$3.74 |07/27|M | |23,333 |D |(1) |07/05|Common Stock|23,333 |-- |-0- |D | |
ight to Buy) | |/98 | | | | | |/04 | | | | | | |
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Time-based Options (Ri|$5.85 |07/27|M | |23,333 |D |(1) |01/01|Common Stock|23,333 |-- |-0- |D | |
ght to Buy) | |/98 | | | | | |/05 | | | | | | |
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Performance Options (R|$5.85 |-- |-- |-| | |(2) |01/01|Common Stock|105,314|-- |105,314(5) |D | |
ight to Buy) | | | |-| | | |/06 | |(5) | | | | |
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Time-based Options (Ri|$12.00 |-- |-- |-| | |(3) |10/23|Common Stock|120,000|-- |120,000(5) |D |-- |
ght to Buy) | | | |-| | | |/01 | |(5) | | | | |
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Time-based Options (Ri|$5.00 |01/01|A |V|90,000 |A |(4) |01/01|Common Stock|90,000(|-- |90,000(5) |D |-- |
ght to Buy) | |/98 | | | | | |/08 | |5) | | | | |
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Time-based Options (Ri|$5.50 |01/01|A |V|90,000 |A |(6) |01/01|Common Stock|90,000(|-- |90,000(5) |D |-- |
ght to Buy) | |/98 | | | | | |/08 | |5) | | | | |
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Explanation of Responses:
(1) All these options are currently vested and
exercisable.
(2) Performance options with respect to 95,510 shares of Common Stock were
exercisable as of the date hereof,
of which 49,279 became exercisable as a result of the Issuer's initial public
offering. In addition, the Reporting
Person was granted performance options for 37,823 shares which will vest in
1998 if certain objective criteria are
met.
(3) Options vested and became exercisable on October 23, 1997 as to 25% of the
total number of options granted
and the remainder will vest and become exercisable on each successive October
23 to the extent of 25% of the
total number of options granted.
(4) Options to purchase shares of Common Stock will vest and become
exercisable commencing on January 1,
1999 to the extent of 33.34% of the total number of options granted and the
remainder will vest and become
exercisable on each successive anniversary date thereafter to the extent of
33.33% of the total number of options
granted.
(5) All options vest and become exercisable upon a change-in-control of the
Company.
(6) Options to purchase shares of Common Stock will vest and become
exercisable commencing on January 1,
1998 to the extent of 25% of the total number of options granted and the
remainder will vest and become
exercisable on each successive anniversary date thereafter to the extent of 25%
of the total number of options
granted.
SIGNATURE OF REPORTING PERSON
/s/ Michael J. Mahoney
DATE
August 7, 1998
