U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 4
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check 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
McCall, Ronald D.
2211 New Market Parkway
Suite 142
Marietta, GA 30067
USA
2. Issuer Name and Ticker or Trading Symbol
CryoLife, Inc.
CRYL
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
May/1996
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Secretary and Treasurer
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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 Year |ect(I)| |
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Common Stock |05/14/|T | |3,000 |A |$4.50 |31,296 |D | |
|96 | | | | | | | | |
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| | | | | | | 5,000 |I |By Spouse |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Year |(I)| |
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Option |$ 4.50 |05/14|T | | 3,000 |D |(1) |03/20|Common Stock|3,000 |N/A |4,500 |D | |
| |/96 | | | | | |/97 | | | | | | |
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Option |$33.50 |05/16|T | |12,000 |A |(2) |05/16|Common Stock|12,000 |N/A |12,000 |D | |
| |/96 | | | | | |/01 | | | | | | |
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Option |$33.50 |05/17|A |V| 2,000 |A |(3) |05/17|Common Stock| 2,000 |N/A | 2,000 |D | |
| |/96 | | | | | |/01 | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Option vests over a five year period becoming exercisable in 20%
increments with the final 20% exercisable
on March 20, 1996.
(2) Option vests and becomes exercisable in four equal installments of 25%
each on the first, second, third and
fourth anniversary date of the award - 25% on 5/16/97; 50% on 5/16/98; 75% on
5/16/99; and 100% on
5/16/00.
(3) Option vests and becomes exercisable in two equal installments of 50% each
on the first and second
anniversary date of the award
- -
50% on 5/17/97 and 100% on
5/17/98.
SIGNATURE OF REPORTING PERSON
Ronald D. McCall
DATE
06/10/96
