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FORM 3
------ U.S. 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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1. Name and Address of Reporting Person* |2. Date of Event Requiring Statement |6. If Amendment, Date
| (Month/Day/Year) | of Original
Welch James L. | 7/18/02 | (Month/Day/Year)
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(Last) (First) (Middle) |3. IRS Identification |4. Issuer Name and Ticker |
| Number of | or Trading Symbol |
Yellow Transportation, Inc. | Reporting Person, | |
----------------------------------------- | if an Entity | |
10990 Roe Avenue | (Voluntary) | Yellow Corporation (YELL) |
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(Street) | |5. Relationship of Reporting Person |7. Individual or
| | to Issuer (Check all applicable) | Joint/Group Filing
Overland Park KS 66211 | | Director 10% Owner | (Check applicable line)
------------------------------------------| | ----- ----- | X Form Filed by
(City) (State) (Zip) | | X Officer (give title below) | ----- One Reporting
----- Person
Other (specify below) Form file by
----- ----- More than one
President and Chief Executive Officer Reporting Person
Yellow Transportation, Inc.
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TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security | 2. Amount of Securities | 3. Ownership Form: | 4. Nature of Indirect Beneficial Ownership
(Instr. 4) | Beneficially Owned | Direct (D) or | (Instr. 4)
| (Instr. 4) | Indirect (I) |
| | (Instr. 5) |
----------------------------------|---------------------------|---------------------|-----------------------------------------------
Common Stock (1) | 7,000 | D |
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Common Stock | 635.7486 | I | By ESOP
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FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative | 2. Date Exercisable | 3. Title and Amount of Securities |4. Conversion |5. Ownership |6. Nature of
Security (Instr. 4) | and Expiration Date | Underlying Derivative Securities | or Exercise | Form of | Indirect
| (Month/Day/Year) | (Instr. 4) | Price of | Derivative| Beneficial
| | | Derivative | Security: | Ownership
| | | Security | Direct | (Instr. 5)
| | | | (D) or |
|------------------------|--------------------------------------| | Indirect |
| | | | Amount or | | (I) |
| Date | Expiration| | Number of | | (Instr. 5)|
| Exercisable| Date | Title | Shares | | |
-----------------------|------------|-----------|-----------------------|--------------|---------------|-------------|--------------
Employee Stock Option | 7/15/98 | 7/14/07 | Common Stock | 2,500 | 24.05 | D |
-----------------------|------------|-----------|-----------------------|--------------|---------------|-------------|--------------
Employee Stock Option | 7/15/99 | 7/14/07 | Common Stock | 2,500 | 24.05 | D |
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Employee Stock Option | 7/15/00 | 7/14/07 | Common Stock | 2,500 | 24.05 | D |
-----------------------|------------|-----------|-----------------------|--------------|---------------|-------------|--------------
Employee Stock Option | 7/15/01 | 7/14/07 | Common Stock | 2,500 | 24.05 | D |
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Employee Stock Option | 4/15/02 | 4/14/08 | Common Stock | 1,250 | 19.75 | D |
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Employee Stock Option | 7/16/02 | 7/15/08 | Common Stock | 2,500 | 17.53125 | D |
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Employee Stock Option | 8/31/01 | 8/30/09 | Common Stock | 1,750 | 15.875 | D |
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Employee Stock Option | 8/31/02 | 8/30/09 | Common Stock | 1,750 | 15.875 | D |
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Employee Stock Option | 8/31/03 | 8/30/09 | Common Stock | 1,750 | 15.875 | D |
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Employee Stock Option | 5/19/02 | 5/18/10 | Common Stock | 18,750 | 17.5625 | D |
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Employee Stock Option | 5/19/03 | 5/18/10 | Common Stock | 18,750 | 17.5625 | D |
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Employee Stock Option | 5/19/04 | 5/18/10 | Common Stock | 18,750 | 17.5625 | D |
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| | | | | | |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Explanation of Responses:
(1) Restricted Stock Grant pursuant to 1992 Stock Option with restriction expiring on 3/4/05.
/s/ James L. Welch 7/19/02
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**Signature of Reporting Person 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 provided is insufficient, see Instruction 6 for procedure.
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(Print or Type Responses)