Sorin William F – ‘4’ for 7/17/98 re: Comverse Technology Inc./NY

As of:  Monday, 8/10/98   ·   For:  7/17/98   ·   Accession #:  922423-98-825   ·   File #:  0-15502

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Statement of Changes in Beneficial Ownership of Securities by an Insider   —   Form 4   —   SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 4           Form 4 - 07/17/98                                      2±    11K 


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                                         

William F. Sorin                                                                
823 Park Avenue, Suite 3-B                                                      
New York, NY  10021                                                             

2. Issuer Name and Ticker or Trading Symbol                                     

Comverse Technology, Inc. -- CMVT                                         

3. IRS or Social Security Number of Reporting Person (Voluntary)                

4. Statement for Month/Year                                                     
07/17/98                                                                  

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

6. Relationship of Reporting Person(s) to Issuer (Check all applicable)         
(x) Director ( ) 10% Owner (x) Officer (give title below) ( ) Other       
(specify below)                                                           
Secretary                                                                 

7. Individual or Joint/Group Filing (Check Applicable Line)                     
(x) Form filed by One Reporting Person                                    
( ) Form filed by More than One Reporting Person                          

                                                        [Enlarge/Download Table]

___________________________________________________________________________________________________________________________________ 
 Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned                                                 |
___________________________________________________________________________________________________________________________________|
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)|                           |
___________________________________________________________________________________________________________________________________|
                                                                                                                                    
----------------------------------------------------------------------------------------------------------------------------------| 
Common Stock               |7/17/ |M   | |25,000            |A  |$3.125     | 5,000             |D     |                           |
                           |98    |    | |                  |   |           |                   |      |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock               |7/17/ |S   | |25,000            |D  |$55.1875   |                   |D     |                           |
                           |98    |    | |                  |   |           |                   |      |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
                           |      |    | |                  |   |           |                   |      |                           |
                           |      |    | |                  |   |           |                   |      |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
                           |      |    | |                  |   |           |                   |      |                           |
                           |      |    | |                  |   |           |                   |      |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|

___________________________________________________________________________________________________________________________________ 
 Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned                                                   |
___________________________________________________________________________________________________________________________________|
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)|            |
___________________________________________________________________________________________________________________________________|
                                                                                                                                    
Employee Stock Option |$3.125  |7/17/|M   | |25,000     |D  |(1)  |4/03/|Common Stock|25,000 |       |5,000       |D  |            |
(right to buy)        |        |98   |    | |           |   |     |01   |            |       |       |            |   |            |
                      |        |     |    | |           |   |     |     |            |       |       |            |   |            |
                      |        |     |    | |           |   |     |     |            |       |       |            |   |            |
                      |        |     |    | |           |   |     |     |            |       |       |            |   |            |
                      |        |     |    | |           |   |     |     |            |       |       |            |   |            |
                      |        |     |    | |           |   |     |     |            |       |       |            |   |            |
___________________________________________________________________________________________________________________________________|

Explanation of Responses:                                                       

(1) Become exercisable incrementally at various vesting dates                   

SIGNATURE OF REPORTING PERSON                                                   
/s/ William F. Sorin                                                            
--------------------                                                            
William F. Sorin                                                                

DATE                                                                            
08/10/98