1
FORM 3



                    U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 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


- --------------------------------------------------------------------------------
1.   Name and Address of Reporting Person*


     Reid                            Gregory                 A.
- --------------------------------------------------------------------------------
   (Last)                            (First)              (Middle)

     10990 Roe Avenue
- --------------------------------------------------------------------------------
                                    (Street)

     Overland Park,                    KS                   66211
- --------------------------------------------------------------------------------
   (City)                            (State)                (Zip)

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

     10/26/00
- --------------------------------------------------------------------------------
3.   IRS Identification Number of Reporting Person, if an Entity (Voluntary)


- --------------------------------------------------------------------------------
4.   Issuer Name and Ticker or Trading Symbol

     Yellow Corporation (YELL)
- --------------------------------------------------------------------------------
5.   Relationship of Reporting Person to Issuer
               (Check all applicable)

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

          Senior Vice President
          --------------------------
- --------------------------------------------------------------------------------
6.   If Amendment, Date of Original (Month/Day/Year)


- --------------------------------------------------------------------------------
7.   Individual or Joint/Group Filing  (Check applicable line)

     [X]  Form Filed by One Reporting Person

     [_]  Form Filed by More Than One Reporting Person

================================================================================
             TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
================================================================================
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. 4) - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ==================================================================================================================================== 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 5(b)(v).
2 FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES) ================================================================================
5. Owner- 3. Title and Amount of Securities ship Underlying Derivative Securities 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 Date Expira- Number Price of Indirect Beneficial 1. Title of Derivative Exer- tion of Derivative (I) Ownership Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5) - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 1/27/98 1/26/07 Common Stock 5625 17.00 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 1/27/99 1/26/07 Common Stock 5625 17.00 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 1/27/00 1/26/07 Common Stock 5625 17.00 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 1/27/01 1/26/07 Common Stock 5625 17.00 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 7/15/98 7/14/07 Common Stock 3750 24.05 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 7/15/99 7/14/07 Common Stock 3750 24.05 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 7/15/00 7/14/07 Common Stock 3750 24.05 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 7/15/01 7/14/07 Common Stock 3750 24.05 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 7/16/99 7/15/08 Common Stock 2500 17.5313 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 7/16/00 7/15/08 Common Stock 2500 17.5313 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 7/16/01 7/15/08 Common Stock 2500 17.5313 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 7/16/02 7/15/08 Common Stock 2500 17.5313 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 8/31/00 8/30/09 Common Stock 500 15.875 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 8/31/01 8/30/09 Common Stock 500 15.875 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 8/31/02 8/30/09 Common Stock 500 15.875 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 8/31/03 8/30/09 Common Stock 500 15.875 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 10/25/01 10/24/10 Common Stock 5000 15.875 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 10/25/02 10/24/10 Common Stock 5000 15.875 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 10/25/03 10/24/10 Common Stock 5000 15.875 D - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option 10/25/04 10/24/10 Common Stock 5000 15.875 D - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
Explanation of Responses: ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). /s/ Gregory A. Reid 10/30/00 ------------------------------------- -------------- Signature of Reporting Person(1) Date Note: File three copies of this form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure. Page 2 (Print or Type Responses)