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
Sheets, Thomas R.
5241 Spring Mountain Road
Las Vegas, NV 89150
USA
2. Issuer Name and Ticker or Trading Symbol
Southwest Gas Corporation
SWX
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
03/31/2002
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Senior Vice President/Legal Affairs and General Counsel
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 |03/06/|M | |10,000 |A |$15.00 | | | |
|2002 | | | | | | | | |
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Common Stock |03/06/|S | |10,000 |D |$23.8556 | | | |
|2002 | | | | | | | | |
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Common Stock |03/06/|M | |2,500 |A |$19.125 | | | |
|2002 | | | | | | | | |
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Common Stock |03/06/|S | |2,500 |D |$23.8556 | | | |
|2002 | | | | | | | | |
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Common Stock |03/06/|S | |500 |D |$23.75 | | | |
|2002 | | | | | | | | |
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Common Stock |03/06/|S | |723 |D |$23.80 | | | |
|2002 | | | | | | | | |
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Common Stock |03/06/|S | |1,200 |D |$23.75 |13,076 |D | |
|2002 | | | | | | | | |
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Common Stock |03/06/|S | |2,591 |D |$24.45 | (1) | | |
|2002 | | | | | | | | |
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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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Employee Stock Option |$15.00 |03/06|M | |10,000 |D | (2) |07/14|Common |10,000 | |-0- |D | |
| |/2002| | | | | |/2006| | | | | | |
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(right to buy) | | | | | | | | | | | | | | |
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Employee Stock Option |$19.1250|03/06|M | |2,500 |D |(3) |07/14|Common |2,500 | |-0- |D | |
| |/2002| | | | | |/2007| | | | | | |
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(right to buy) | | | | | | | | | | | | | | |
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| | | | | | | | | | | |- |D | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Intra-plan transfer out of company stock fund of 401(k)
plan.
(2) The option vested in three equal installments on July 15, 1997, 1998 and
1999.
(3) The option vested in three equal installments on July 15, 1998, 1999 abd
2000.
SIGNATURE OF REPORTING PERSON
/s/ Thomas R. Sheets by Faye J. Ringler, Attorney in Fact
DATE
04/01/2002