4 1 a87158ge4.htm FORM 4 PacifiCare Health Systems, Inc.
 

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 4

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(h) of the Investment Company Act of 1940

o Check this box if no longer
subject to Section 16.
Form 4 or Form 5
obligations may continue.
See Instruction 1(b).

1. Name and Address of Reporting
Person*
2. Issuer Name and Ticker or Trading
Symbol
3. I.R.S. Identification Number of Reporting
Person, if an entity
(Voluntary)
  Scott, Gregory W
(Last) (First) (Middle)
  PacifiCare Health Systems, Inc.
 
     
  5995 Plaza Drive

(Street)
4. Statement for Month/Day/Year 5. If Amendment, Date of Original (Month/Day/Year)
    1/22/2003
 
     
    6. Relationship of Reporting Person(s)
to Issuer
(Check All Applicable)
7. Individual or Joint/Group Filing
(Check Applicable Line)
  Cypress, CA 90630
(City)        (State)        (Zip)
  o  Director o  10% Owner   x Form Filed by One Reporting Person
    x  Officer (give title below)   o Form Filed by More than One Reporting Person
    o  Other (specify below)  
     
     

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).


 

                                               

Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security
(Instr. 3)
2. Transaction
Date

(Month/Day/Year)
2A. Deemed Execution
Date, if any

(Month/Day/Year)
3. Transaction
Code

(Instr. 8)
4. Securities Acquired (A) or
Disposed of (D)

(Instr. 3, 4 and 5)
5. Amount of Sec-
urities Beneficially
Owned Following
Reported Trans-
action(s)

(Instr. 3 and 4)
6. Ownership
Form:
Direct (D) or
Indirect (I)

(Instr. 4)
7. Nature of
Indirect
Beneficial
Ownership

(Instr. 4)

              Code V   Amount (A)
or
(D)
Price          

  Common Stock   05/28/02     A V     10,000.000
(1)
  A           D  

  Common Stock   07/31/02     J V     1,242.545
(2)
  A   $20.1200         D  

  Common Stock   01/22/03     A     25,000.000
(3)
  A       41,242.545     D  

  Common Stock                   1,386.000     I   By 401(k) plan

                         

                         

                         

                         

                         

                         

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Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned
  (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative
Security

(Instr. 3)
2. Conversion or Exercise
Price of Derivative
Security
3. Transaction
Date

(Month/Day/Year)
3A.  Deemed Execution
Date, if any

(Month/Day/Year)
4. Transaction
Code

(Instr. 8)
5. Number of Derivative Securities
Acquired (A) or Disposed of (D)

(Instr. 3, 4 and 5)

                      Code V   (A) (D)

  Common Stock Units         02/26/02     A V   8,169.000

  Non-Qualified Stock Option (right to buy)     $17.3125          

  Non-Qualified Stock Option (right to buy)     $18.3800          

  Non-Qualified Stock Option (right to buy)     $28.5500     01/22/03     A   75,000.000

               

               

               

               

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Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned — Continued
(e.g., puts, calls, warrants, options, convertible securities)

6. Date Exercisable and
Expiration Date

(Month/Day/Year)
7. Title and Amount
of Underlying Securities

(Instr. 3 and 4)
8. Price of Derivative
Security

(Instr. 5)
9. Number of Derivative Securities
Beneficially Owned Following
Reported Transaction(s)

(Instr. 4)
10. Ownership Form of
Derivative Security:
Direct (D) or
Indirect (I)

(Instr. 4)
11. Nature of
Indirect
Beneficial
Ownership

(Instr. 4)

  Date
Exercisable
Expiration
Date
  Title Amount or
Number of
Shares
                       

  (4) Common Stock 8,169.000           8,169.000     D  

  01/22/11   Common Stock 150,000.000           150,000.000     D  

  01/24/12   Common Stock 150,000.000           150,000.000     D  

  (5) 01/22/13   Common Stock 75,000.000           75,000.000     D  

                   

                   

                   

                   

Explanation of Responses:

(1) Award granted under the 1996 Stock Option Plan for Officers and Key Employees of PacifiCare Health Systems, Inc. as amended, which is a Rule 16b-3 plan. The restricted stock will vest in full on December 10, 2001. The options become vested in three equal annual installments beginning on the first anniversary May 28, 2003.

(2) Includes 1242 shares acquired under the PacifiCare Health Systems stock purchase plan in July 2002.

(3) The restricted stock units were granted on January 22, 2003 (the "Grant Date") pursuant to the 1996 Stock Option Plan for Officers and Key Employees of PacifiCare Health Systems, Inc., as amended, (the "Plan"). Each restricted stock unit entitles the recipient to receive a share of restricted stock after a four year deferral period. Within 45 days after the Grant Date, the recipient may elect to defer receipt of the restricted stock beyond the four year deferral period. In which case, the recipient shall receive the restricted stock on the earlier of the date specified in such election, or the date on which the recipient terminates his or her service as an employee of PacifiCare. The restricted stock is subject to forfeiture until certain restrictions, including continued employment, have lapsed. The forfeiture restrictions lapse in four cumulative annual installments each equal to 25 percent of the shares of restricted stock, commencing on the first anniversary of the Grant Date, and continuing on each of the next three successive anniversaries of the Grant Date.

(4) The Common Stock Units were accrued under the PacifiCare Health Systems, Inc. Stock Unit Deferred Compensation Plan (the "Plan"). Upon distribution, a participant receives shares of Common Stock equal to the number of Common Stock Units deferred. Distribution is triggered by termination of employment, death, disability or change of control of the Company. Amounts deferred under the Plan will be distributed in a lump sum or equal installments over three to five years, except for distributions upon change of control which will be paid out in a lump sum of shares of stock. The Plan also permits early distributions while a Participant is still employed so long as such election is made at least two years from the last day of the plan year for which the bonus is earned.

(5) Granted under the 1996 Stock Option Plan for Officers and Key Employees of PacifiCare Health Systems, Inc., as amended, which is a Rule 16b-3 plan. The options become vested in four equal annual installments beginning on the first anniversary January 22, 2004.

- Beneficial holdings reflected on this report do not include changes in the reporting person's holdings of securities resulting from participation in the issuer's qualified employee stock plan since the last filing of a report disclosing transactions related to such participation.

/s/ Gregory W. Scott   1/22/03

**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 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 control number.

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