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
McCALL, RONALD D.
1655 Roberts Blvd
Kennesaw, GA 30144
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 1997
5. If Amendment, Date of Original (Month/Year)
6/3/97
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Secretary and Treasurer
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 |5/20/9|M | |10,000 |A |3.625 |78,592 |D | |
|7 | | | | | | | | |
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Common Stock |5/20/9|F | |3,000 |D |11.50 |10,000 |I |By Spouse |
|7 | | | | | | | | |
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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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Option |3.625 |5/20/|M | |10,000 |D |(1) |5/5/2|Common Stock|10,000 |N/A |10,000 |D | |
| |97 | | | | | |000 | | | | | | |
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Option |10.25 |5/15/|A |V|7,000 |A |11/16|5/15/|Common Stock|7,000 |N/A |7,000 |D | |
| |97 | | | | |/97 |2002 | | | | | | |
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Option |10.25 |5/16/|A |V|5,000 |A |(2) |5/16/|Common Stock|5,000 |N/A |5,000 |D | |
| |97 | | | | | |2002 | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Options vested in two equal annual installments of 20,000 each on 5/5/96
and 5/5/97 (as adjusted to reflect
the Company's two-for-one stock split in June
1996).
(2) Option vests and becomes exercisable in two equal annual installments of
50% (2,500 shares) each on the
first and second anniversary date of the Grant Date (May 16, 1998 and May 16,
1999).
SIGNATURE OF REPORTING PERSON
RONALD D. MCCALL
DATE
August 5, 1997
