Unisys Corp. – ‘3’ for 6/14/99 re: Pulsepoint Communications

As of:  Thursday, 6/24/99   ·   For:  6/14/99   ·   Accession #:  895345-99-351   ·   File #:  0-18280

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Initial Statement of Beneficial Ownership of Securities by an Insider   —   Form 3   —   SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 3           Initial Statement of Beneficial Ownership of           4±    17K 
                Securities by an Insider                                         


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 U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 3

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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1. Name and Address of Reporting Person                                         

Unisys Corporation                                                              
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(Last)               (First)                 (Middle)                     

Unisys Way                                                                      
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(Street)

Blue Bell             Pennsylvania              19424                           
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(City)               (State)                 (Zip)                        

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

6/14/99                                                                         
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3. IRS or Social Security Number of Reporting Person (Voluntary)                

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4. Issuer Name and Ticker or Trading Symbol                                     

PulsePoint Communications (PLPT)                                                
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5 Relationship of Reporting Person(s) to Issuer                                 
(Check all applicable)                                                    

[   ]   Director                             [ x ]   10% Owner            
[   ]   Officer (give title below)           [   ]   Other (specify below)

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

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7. Individual or Joint/Group Filing                                             

[ x ]   Form Filed by One Reporting Person                                
[   ]   Form Filed by More than One Reporting Person                      

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 Table I -- Non-Derivative Securities Beneficially Owned
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                                                        [Enlarge/Download Table]


                                                                 3. Ownership Form:                                                 
                                      2. Amount of Securities       Direct (D) or                                                   
1. Title of Security                     Beneficially Owned         Indirect (I)       4. Nature of Indirect Beneficial Ownership   
   (Instr. 4)                            (Instr. 4)                 (Instr. 5)            (Instr.5)                                 
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Reminder: Report on a separate line for each class of securities beneficially   
owned directly or indirectly.                                                   

(Print or Type Responses) 

FORM 3 (continued)                                                              

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

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                                                        [Enlarge/Download Table]

                                                                                                        5. Owner-                   
                                                    3. Title and Amount of Securities                      ship                     
                                                       Underlying Derivative Security                      Form of                  
                         2. Date Exercisable           (Instr. 4)                                          Derivative               
                            and Expiration Date     ---------------------------------    4. Conver-        Security:                
                            (Month/Day/Year)                               Amount           sion or        Direct      6. Nature of 
                         ----------------------                            or               Exercise       (D) or         Indirect  
1. Title of Derivative   Date       Expira-                                Number           Price of       Indirect       Beneficial
   Security              Exer-      tion                                   of               Derivative     (I)            Ownership 
   (Instr. 4)            cisable    Date            Title                  Shares           Security       (Instr.5)      (Instr. 5)
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Option (contingent       (see       (see            Common                 1,109,397     $6.60          D                           
right to buy) (see       explana-   explana-        Stock,                                                                          
explanation of re-       tion of    tion of         no par                                                                          
sponses below)           respon-    respon-         value                                                                           
                         ses below) ses below)                                                                                      
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Explanation of Responses:                                                       

On June 14, 1999, PulsePoint Communications (the "Issuer"), Unisys        
Corporation (the "Reporting Person") and Shellco Inc. ("Merger Sub"), a         
wholly owned subsidiary of the Reporting Person, entered into an Agreement      
and Plan of Merger (the "Merger Agreement") providing for, among other          
things, the merger of Merger Sub with and into the Issuer, with the Issuer      
being the surviving corporation in such merger and becoming a wholly owned      
subsidiary of the Reporting Person.  In connection with the Merger Agreement,   
the Issuer and the Reporting Person entered into a Stock Option Agreement       
(the "Option Agreement"), dated as of June 14, 1999, pursuant to which the      
Issuer granted the Reporting Person an option (the "Option") to purchase up     
to 1,109,937 shares of Common Stock of the Issuer (the "Option Shares").  The   
Option may only be exercised if a Merger Agreement is terminated under          
certain circumstances set forth in the Merger Agreement and the Option          
Agreement.                                                                      

By reason of its execution of the Option Agreement, the Reporting Person  
may be deemed to have beneficial ownership of the Option Shares and,            
accordingly, may be deemed to beneficially own 1,109,937 (or approximately      
16.6% of the outstanding Common Stock of the Issuer (based upon (i) the         
5,577,572 shares of PulsePoint Common Stock outstanding on May 25, 1999, as     
represented to Reporting Person by Issuer in the Merger Agreement, plus an      
additional 1,109,937 that Issuer will issue to Reporting Person in the event    
that the Option is exercised) following the exercise in whole of the Option     
for 1,109,937 shares of Issuer Common Stock.  The Reporting Person expressly    
disclaims any beneficial ownership of the shares of Issuer Common Stock which   
are purchasable by the Reporting Person upon exercise of the Option, on the     
grounds that the Option is not presently exercisable and only becomes           
exercisable upon the occurrence of the events referred to above.  If the        
Option were exercised, Reporting Person would have the sole right to vote and   
to dispose of the shares of Issuer issued as a result of such exercise.         

Neither the filing of this Form 3 nor any of its contents shall be deemed to    
constitute an admission that the Reporting Person is the beneficial owner of    
the Option Shares  for purposes of Sections 13(d) or 16 of the Securities       
Exchange Act of 1934, as amended, or for any other purpose and such             
beneficial ownership is expressly disclaimed.  The foregoing summary of the     
Option Agreement is qualified in its entirely by reference to such agreement,   
which has been filed as an exhibit to the  Issuer's Form 8-K dated as of June   
14, 1999.                                                                       

UNISYS CORPORATION                                                              
/s/ Robert H. Brust                                         June 24, 1999       
---------------------------------------------            -----------------------
(**)Signature of Reporting Person                           Date      
Robert H. Brust                                                       
Senior Vice President and                                             
Chief Financial Officer                                               

**   Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.                                                           

See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).                             

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘3’ Filing		Date		Other Filings
Filed on:		6/24/99
For Period end:		6/14/99		8-K,  8-K/A
		5/25/99
		9/30/98		10-Q
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