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
Stonecipher, Shirley
Rt. 1, Box 39
Centrahoma, OK 74534
U.S.A.
2. Issuer Name and Ticker or Trading Symbol
Pre-Paid Legal Services, Inc.
PPD
3. IRS or Social Security Number of Reporting Person (Voluntary)
440-40-6437
4. Statement for Month/Year
June 6, 2002
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
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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Common Stock | | | | | | |1,151,525 |D(1) |by spouse (2) (3) |
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Common Stock |(4) | | | | | |18,848 |I |by spouse (2) (3) |
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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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Stock Option - Right t|24.20 |5/31/|J |V|100,000 |A |(6) |5/31/|Common |100,000| | |D | |
o Buy | |02 | |(| | | |07 | | | | | | |
| | | |5| | | | | | | | | | |
| | | |)| | | | | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) These shares are held jointly with the reporting person's spouse. The
reporting person's spouse is Chairman
of the Board and Chief Executive Officer of the
Issuer.
(2) These shares are held by the reporting person's spouse indirectly through
the Issuer's ESOP Trust.
(3) The reporting person disclaims beneficial ownership of these securities,
and this report shall not be deemed
an admission that the reporting person is the beneficial owner of such
securities for purposes of Section 16 or
for any
purpose.
(4) These securities were acquired through participation by the reporting
person's spouse indriectly through the
Issuer's ESOP
Trust.
(5) These securities were acquired through participation in the Issuer's Stock
Option Plan approved by
Shareholder's on May 31, 2002. These transactions are exempt under old Rule
16a-8(b).
(6) These options were granted and are immediately exercisable as to 25,000
and will vest in additional
increments of 25,000 on June 1st, September 1st and December 1st during grant
year.
(5) These securities were acquired through participation in the Issuer's Stock
Option Plan approved by
shareholders on May 25, 2001. They are exempt under Rule
16a-8(b).
(6) These options granted were immediately exercisable as to 2,500 shares and
will vest in additional increments
of 2,500 on the following June 1st, September 1st and December 1st of the year
of grant.
SIGNATURE OF REPORTING PERSON
Shirley Stonecipher
DATE
June 6, 2002