SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
STANTON JOHN W

(Last) (First) (Middle)
155 108TH AVENUE, N.E.
SUITE 400

(Street)
BELLEVUE WA 98004

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
GENERAL COMMUNICATION INC [ GNCMA ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
11/08/2010
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 11/08/2010 S(1) 160,678 D (1) 2,342,627 D(2)
Class B Common Stock(3) 11/08/2010 P(1) 160,678 A (1) 1,436,469(3) D(2)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class B Common Stock(3)(4) (6) 11/08/2010 P(1) 160,678(5) (7) (7) Class A Common Stock(4) 160,678 (1)(4) 1,436,469 D(2)
1. Name and Address of Reporting Person*
STANTON JOHN W

(Last) (First) (Middle)
155 108TH AVENUE, N.E.
SUITE 400

(Street)
BELLEVUE WA 98004

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
GILLESPIE THERESA E

(Last) (First) (Middle)
155 108TH AVENUE, N.E.
SUITE 400

(Street)
BELLEVUE WA 98004

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. Pursuant to a Share Exchange Agreement, dated as of November 8, 2010, the reporting persons transferred 160,678 shares of Class A Common Stock and received 160,678 shares of Class B Common Stock in an exchange transaction with another stockholder of the Issuer that did not involve any other consideration.
2. Shares held by John W. Stanton and Theresa E. Gillespie as either tenants in common or joint tenants with right of survivorship.
3. Prior to the reporting persons' acquisition of the 160,678 shares of Class B Common Stock reported herein, they owned 1,275,791 shares of Class B Common Stock, as reported in their Form 3 filed on March 12, 2007. In Form 4s filed on November 13, 2007, November 14, 2007 and December 3, 2007 this holding was incorrectly stated as 1,279,791 due to a typographical error. The December 3, 2007 Form 4 also incorrectly checked the "exit" box on the top left of that Form 4.
4. Each share of Class B Common Stock is convertible into one share of Class A Common Stock.
5. These are the same shares of Class B Common Stock identified in Table I above.
6. 1 for 1.
7. The Class B Common Stock is convertible at any time, at the holder's election, and there is no expiration date.
/s/ John W. Stanton 11/08/2010
/s/ Theresa E. Gillespie 11/08/2010
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (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 is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.