Form 3 - Comeaux 6/24/02


Form 3

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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(f) of the Investment Company Act of 1940

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(Print or Type Responses)

  

1.  Name and Address of Reporting Person*

Comeaux, Craig S.

2.  Date of Event Requiring Statement
  (Month/Day/Year)

6/24/02

4.  Issuer Name and Tickler or Trading Symbol

               Seitel, Inc.                               SEI

(Last)         (First)         (Middle)

50 Briar Hollow Lane, 7th Floor West

(Street)

 

Houston, Texas 77002

3.  I.R.S. Identification Number of Reporting Person, if an entity (voluntary)

5.  Relationship of Reporting Person(s) to Issuer
       (Check all applicable)

__ Director                              __ 10% Owner

_x Officer (give title below)     __ Other (specify below)

     General Counsel

6.  If Amendment, Date of Original
   (Month/Day/Year)

 

(City)       (State)         (Zip)

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 I - Non-Derivative Securities Beneficially Owned

1.Title of Security 
   (Instr. 4)

2.  Amount of Securities Beneficially Owned 
     (Instr. 4)

3.  Ownership Form: Direct (D) or  Indirect (I)
     (Instr. 5)

4.  Nature of Indirect Beneficial Ownership
     (Instr. 5)

  Common Stock, par value $.01 

  0

      
           
           

 

 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
    (Instr. 4)

2. Date Exercisable and Expiration Date
  (Month/Day/Year)

3. Title and Amount of Securities Underlying Derivative Security
    (Instr. 4)

4.  Conversion or Exercise Price of Derivative Security

5.  Ownership  Form of Derivative Securities: Direct  (D) or Indirect (I)
   (Instr. 5)

6.  Nature of Indirect Beneficial Ownership
     (Instr. 5)

Date Exercisable

Expiration Date

  Title  

Amount or Number of Shares
  Options - Right to Buy   (1)   2/1/11   Common Stock   50,000   $17.11   D   
  Options - Right to Buy   (2)   8/31/11   Common Stock   15,000   $11.00   D   
  Options - Right to Buy   (3)   5/8/12   Common Stock   50,000   $4.73   D   
                       
                       
                       

(1)    Options vest 1/3 on each of the first 3 anniversary dates from date of grant with 100% vested on 2/1/04.
(2)    Options vest 1/3 on each of the first 3 anniversary dates from date of grant with 100% vested on 8/31/04.
(3)    Options vest 50% on date of grant of 5/8/02 and remaining 50% on 5/8/03.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

Explanation of Responses:  

 

         

 /s/ Craig S. Comeaux

by Marcia H. Kendrick 
**Signature of Reporting Person

              6/24/02                    
Date

*

If the form is filed by more than one reporting person, see Instruction 5(b)(v).

**

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.