
<PAGE>
 
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549
                             ____________________

                                 SCHEDULE 13D
                   UNDER THE SECURITIES EXCHANGE ACT OF 1934
                             ____________________

                              ACXIOM CORPORATION
                               (Name of Issuer)

                    COMMON STOCK, PAR VALUE $.10  PER SHARE
                        (Title of Class of Securities)

                                  005125 10 9
                     (CUSIP Number of Class of Securities)

                                 PETER I. MASON
                                MAY & SPEH, INC.
                                1501 OPUS PLACE
                         DOWNERS GROVE, ILLINOIS  60515
                                 (630) 964-1501
          (Name, Address and Telephone Number of Persons Authorized to
                      Receive Notices and Communications)

                                    COPY TO:

                              BRUCE A. TOTH, ESQ.
                                WINSTON & STRAWN
                              35 WEST WACKER DRIVE
                                   SUITE 4200
                            CHICAGO, ILLINOIS 60601
                                 (312) 558-5600

                                  MAY 26, 1998
            (Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [_]
<PAGE>
 
                                 SCHEDULE 13D

----------------------------
CUSIP No. 005125 10 9
----------------------------

-----------------------------------------------------------------------------
 
1.  NAME OF REPORTING PERSON
    S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
          May & Speh, Inc.  (36-2992650)
-----------------------------------------------------------------------------
2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                  (a) [_]
 
                                                                      (b) [_]
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3.  SEC USE ONLY
-----------------------------------------------------------------------------
4.  SOURCE OF FUNDS
 
 
           00
-----------------------------------------------------------------------------
5.  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
                                                                          [_]  
    REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
-----------------------------------------------------------------------------
6.  CITIZENSHIP OR PLACE OF ORGANIZATION
 
           Delaware
-----------------------------------------------------------------------------
     NUMBER OF SHARES           7.  SOLE VOTING POWER -  10,436,929.72/1/
 BENEFICIALLY OWNED BY EACH
        PERSON WITH
-----------------------------------------------------------------------------
                                8.  SHARED VOTING POWER - 8,037,425/1/
-----------------------------------------------------------------------------
                                9.  SOLE DISPOSITIVE POWER - 10,436,929.72/1/
-----------------------------------------------------------------------------
                               10.  SHARED DISPOSITIVE POWER - 8,037,425/1/
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
               18,474,354.72/1/
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT ON ROW (11)
               29.4%/2/
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON - CO
-----------------------------------------------------------------------------

/1/  This Statement on Schedule 13D (this "Statement") is being filed in
connection with the execution and delivery of that certain Agreement and Plan of
Merger dated as of May 26, 1998 (the "Merger Agreement") by and between Acxiom
Corporation, a Delaware corporation (the "Issuer"), ACX Acquisition Co., Inc., a
Delaware corporation and wholly owned subsidiary of the Issuer ("Sub"), and May
& Speh, Inc., a Delaware corporation ("May & Speh").  Pursuant to the Merger
Agreement, Sub will, among other things, merge (the "Merger") with and into May
& Speh and May & Speh will become a wholly owned subsidiary of the Issuer. The
shares of common stock, par value $0.10 per share of the Issuer (the "Common
Stock") covered by this Statement consist of (i) 10,436,929.72 shares of Common
Stock that may be purchased by May & Speh upon

                                      -2-
<PAGE>
 
exercise of an option (the "Option") granted by the Issuer to May & Speh
pursuant to that certain Stock Option Agreement dated as of May 26, 1998,
between May & Speh and the Issuer (the "Stock Option Agreement") and (ii)
8,037,425 shares of Common Stock that are the subject of (A) that certain
Irrevocable Proxy dated as of May 26, 1998 between May & Speh and Charles D.
Morgan (the "Morgan Proxy"), (B) that certain Irrevocable Proxy dated as of June
1, 1998 between May & Speh and Pritzker Foundation (the "Pritzker Proxy"), (C)
that certain Irrevocable Proxy dated as of June 1, 1998 between May & Speh and
Trans Union Corporation (the "Trans Union Proxy,"), and (D) that certain
Irrevocable Proxy dated as of June 1, 1998 between May & Speh and Robert
Pritzker (the "RP Proxy", and together with the Morgan Proxy, the Pritzker Proxy
and the Trans Union Proxy, the "Proxies"), all as further described in Items 3
and 4 of this Statement.

          Prior to the exercise of the Option, May & Speh is not entitled to any
rights as a stockholder of the Issuer as to the shares of Common Stock covered
by the Option. The number of shares of Common Stock that may be purchased by May
& Speh under the Option, which initially equals 10,436,929.72 shares, will be
adjusted if necessary so that the number of shares of Common Stock which may be
purchased by May & Speh upon exercise of the Option is equal to 19.9% of the
total shares of Common Stock issued and outstanding immediately prior to the
time of such exercise. The Option may only be exercised upon the occurrence of
certain events, none of which has occurred as of the date hereof. Prior to such
exercise, May & Speh expressly disclaims beneficial ownership of the shares of
Common Stock which may be purchased upon exercise of the Option.

          Pursuant to the terms of the Proxies, each of Charles D. Morgan,
Pritzker Foundation, Trans Union Corporation and Robert Pritzker, as the case
may be, has granted May & Speh an irrevocable proxy to vote all of the shares of
Common Stock owned of record by such person or entity, as the case may be, in
favor of any proposal to approve and adopt the Merger Agreement and the
transactions contemplated thereby. If the power granted under such proxies is
unexercisable for any reason, each of Charles D. Morgan, Pritzker Foundation,
Trans Union Corporation and Robert Pritzker, as the case may be, has agreed to
vote the shares in favor of any proposal to approve and adopt the Merger
Agreement and the transactions contemplated thereby. Other than as described
herein, May & Speh is not entitled to any other rights as a stockholder of the
Issuer as to the shares of Common Stock subject to the Proxies. Each of the
Proxies (other than the Morgan Proxy with respect to clause (iv)) will terminate
upon the earlier of (i) the effectiveness of the Merger, (ii) the termination of
the Merger Agreement, (iii) notice of termination by May & Speh or (iv) October
31, 1998. The Morgan Proxy initially relates to 4,112,425 shares of Common Stock
owned of record by Charles D. Morgan, including 297,654 shares which are
issuable upon exercise of stock options exercisable within sixty (60) days of
the date thereof. The Pritzker Proxy initially relates to 3,921,000 shares of
Common Stock owned by Pritzker Foundation. The Trans Union Proxy and the RP
Proxy each initially relates to 2,000 shares of Common Stock owned by of each
Trans Union Corporation and Robert Pritzker, respectively. The Morgan Proxy
provides that any shares of Common Stock granted upon the exercise of any stock
options by the grantor thereunder during the term of the Morgan Proxy shall also
be subject to the proxy granted thereunder. Other than with respect to the
exercise of the Proxies described above to vote all of the shares of Common
Stock owned by Charles D. Morgan, Pritzker Foundation, Trans Union Corporation
and Robert Pritzker in favor of any proposal to approve and adopt the Merger
Agreement and the transactions contemplated thereby, May & Speh expressly
disclaims beneficial ownership of the shares of Common Stock that are subject to
the Proxies.

          The number of shares of Common Stock indicated (i) as to which May &
Speh may be deemed to possess sole voting power and sole dispositive power
(consisting of the shares of Common Stock subject to the Option) represents
approximately 16.6%, and (ii) as to which May & Speh may be deemed to possess
shared voting power and shares dispositive power (consisting of the shares
subject to the Proxies) represents approximately 12.8%, in each case, of the
total shares of Common Stock issued and outstanding on the date of the Merger
Agreement (as represented by the Issuer in the Merger Agreement), after giving
effect to the exercise of the Option as described herein.

/2/  Adjusted to reflect the issuance by the Issuer of 10,436,929.72 shares of
Common Stock upon exercise of the Option as described herein.

                                      -3-
<PAGE>
 
ITEM 1.   SECURITY AND ISSUER.
          ------------------- 

          This Statement on Schedule 13D (this "Statement") relates to shares of
common stock, $.10 par value per share (the "Common Stock"), of Acxiom
Corporation, a Delaware corporation (the "Issuer").  The principal executive
offices of the Issuer are located at 301 Industrial Boulevard, Conway, Arkansas
72032.

ITEM 2.   IDENTITY AND BACKGROUND.
          ----------------------- 

          (A) - (C) AND (F).  The reporting person is May & Speh, Inc., a
Delaware corporation ("May & Speh"), with its principal office at 1501 Opus
Place, Downers Grove, Illinois  60515.  May & Speh is in the business of
providing computer-based information management services with a focus on direct
marketing and information technology outsourcing services.  May & Speh's direct
marketing services help clients execute direct marketing and customer management
programs.  May & Speh's information technology services outsourcing support
multi-platform processing and network management for clients seeking to
outsource their operations.

          (D) AND (E).  During the last five years, neither May & Speh nor, to
the knowledge of May & Speh, any executive officer or director of May & Speh,
has (i) been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) or (ii) been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting activities subject to, federal or state
securities laws or finding any violation of such laws.

          Certain information regarding the directors and executive officers of
May & Speh is set forth in Schedule I attached hereto which is incorporated
herein by reference.

ITEM 3.   SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
          ------------------------------------------------- 

          This Statement relates to (i) an option granted by the Issuer to May &
Speh to purchase shares of Common Stock from the Issuer as described in this
Item 3 and Item 4 below (the "Option") and (ii) certain irrevocable proxies (the
"Proxies") granted to May & Speh by Charles D. Morgan ("Morgan"), Pritzker
Foundation (the "Foundation"), Trans Union Corporation ("Trans Union") and
Robert Pritzker ("Robert Pritzker") with respect to shares of Common Stock owned
of record by Morgan, the Foundation, Trans Union and Robert Pritzker as
described in this Item 3 and Item 4 below.

          The Option entitles May & Speh to purchase up to 10,436,929.72 shares
(the "Option Shares") of Common Stock under the circumstances specified in that
certain Stock Option Agreement dated as of May 26, 1998, between May & Speh and
the Issuer (the "Stock Option Agreement"), and as described in Item 4 below, for
a purchase price of $23.55 per share (as adjusted in accordance with the terms
of the Stock Option Agreement, the "Purchase Price").  The number of Option
Shares will be adjusted if necessary so that the number of shares which may be
purchased by May & Speh upon exercise of the Option is equal to 19.9% of the
total shares of Common Stock issued and outstanding immediately prior to the
time of such exercise. Reference is made to the Stock Option Agreement, a copy
of which is filed as Exhibit 5 hereto and incorporated herein by reference, for
the full text of its terms, including the conditions upon which it may be
exercised.

          Pursuant to the Proxies, each grantor thereunder has granted to May &
Speh an irrevocable proxy to vote all of the shares of Common Stock owned of
record by such grantor in favor of any proposal to approve and adopt the Merger
Agreement (as defined below) and the transactions contemplated thereby pursuant
to the terms and conditions of (A) that certain Irrevocable Proxy dated as of
May 26, 1998, between May & Speh and Morgan (the "Morgan Proxy"), (B) that
certain Irrevocable Proxy dated as of June 1, 1998, between May & Speh and the
Foundation (the "Pritzker Proxy"), (C) that certain Irrevocable Proxy dated as
of June 1, 1998 between May & Speh and Trans Union (the "Trans Union Proxy") and
(D) that certain Irrevocable Proxy dated as of June 1, 1998 between May & Speh
and Robert Pritzker (the "RP Proxy") and as described in this Item 3 and Item 4
below. If the power granted under any such Proxy is unexercisable for any
reason, each grantor thereunder has agreed to vote the shares of Common Stock
subject to such Proxy in

                                      -4-
<PAGE>
 
favor of any proposal to approve and adopt the Merger Agreement and the
transactions contemplated thereby. Reference is made to the Morgan Proxy, the
Pritzker Proxy, the Trans Union Proxy and the RP Proxy, copies of which are
filed as Exhibits 2, 3, 3-A and 3-B hereto, respectively, and are incorporated
herein by reference. Each Proxy (other than the Morgan Proxy with respect to
clause (iv)) will terminate upon the earlier of (i) the effectiveness of the
Merger, (ii) the termination of the Merger Agreement, (iii) notice of
termination by May & Speh or (iv) October 31, 1998. The Morgan Proxy initially
relates to 4,112,425 shares of Common Stock owned of record by Morgan, including
297,654 shares which are issuable upon exercise of stock options exercisable
within sixty (60) days of the date thereof. The Pritzker Proxy initially relates
to 3,921,000 shares of Common Stock owned of record by the Foundation. The Trans
Union Proxy and the RP Proxy each initially relates to 2,000 shares of Common
Stock owned of record by each of Trans Union and Robert Pritzker, respectively.
The Morgan Proxy provides that any shares of Common Stock granted upon the
exercise of any stock options by the grantors thereunder during the term of the
Morgan Proxy shall be subject to the proxy granted thereunder.

          As set forth in the Stock Option Agreement and the Proxies, as
applicable, the Option was granted by the Issuer and the Proxies were granted by
the grantors thereunder as a condition and inducement to May & Speh's
willingness to enter into that certain Agreement and Plan of Merger dated as of
May 26, 1998 by and between May & Speh, ACX Acquisition Co., Inc., a Delaware
corporation and a wholly owned subsidiary of the Issuer ("Sub"), and the Issuer
(the "Merger Agreement").  A copy of the Merger Agreement is filed as Exhibit 4
hereto and is incorporated  herein by reference.  Pursuant to the Merger
Agreement and subject to the terms and conditions set forth therein (including
approval by the stockholders of May & Speh and the Issuer), Sub will merge with
and into May & Speh (the "Merger"), with May & Speh continuing as the surviving
corporation, and each issued and outstanding share of common stock of May & Speh
will be converted into the right to receive .80 of a share of Common Stock of
the Issuer.  Upon consummation of the Merger, May & Speh will become a wholly
owned subsidiary of the Issuer.  If the Merger is consummated in accordance with
the terms and conditions of the Merger Agreement, the Option will not be
exercised and the Proxies will terminate in accordance with the terms thereof.
No monetary consideration was paid by May & Speh to the Issuer for the Option or
to the grantors of the Proxies.

          If May & Speh elects to exercise the Option, it currently anticipates
that the funds necessary to pay the Purchase Price will be generated by a
combination of available working capital, bank or other borrowings and/or the
sale, in whole or in part,  of the Option Shares following such exercise.

          The information in Items 4, 5 and 6 of this Statement is incorporated
by reference in this Item 3.

ITEM 4.   PURPOSE OF TRANSACTION.
          ---------------------- 
 
          (A) - (J)  As stated above, the Option and the Proxies were granted to
May & Speh in connection with the execution of the Merger Agreement.

          As an inducement to the Issuer to enter into the Merger Agreement, May
& Speh granted to the Issuer a reciprocal option (the "Reciprocal Option") to
purchase up to 19.9% of the issued and outstanding shares of common stock of May
& Speh under the circumstances specified in that certain Stock Option Agreement
dated as of May 26, 1998, between May & Speh, as grantor, and the Issuer, as
grantee, for a purchase price of $14.96 per share (the "May & Speh Stock Option
Agreement"), a copy of which is filed as Exhibit 1 hereto and is incorporated
herein by reference. In addition, as an inducement to the Issuer to enter into
the Merger Agreement, Lawrence J. Speh, Albert J. Speh, Jr. and certain trusts
controlled by such persons (collectively, the "Spehs") each granted to the
Issuer an irrevocable proxy to vote all of the shares of May & Speh common stock
owned or controlled by each such person or trust in favor of any proposal to
approve and adopt the Merger Agreement and the transactions contemplated
thereby. Such proxies were granted pursuant to the terms of those certain
Irrevocable Proxies each dated as of May 26, 1998 (June 1, 1998 w ith respect to
the trusts), between May & Speh and each of the Spehs (collectively, the "Speh
Proxies"), copies of which are filed as Exhibits 6, 7 and 8 hereto and are
incorporated herein by reference.

                                      -5-
<PAGE>
 
          The Option shall become exercisable upon the occurrence of certain
events set forth in Section 2 of the Stock Option Agreement, none of which has
occurred at the time of this filing.  The exercise of the Option in all events
is subject, among other things, to compliance with the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended.  May & Speh has the right to
cause the Issuer to prepare and file up to two registration statements under the
Securities Act of 1933, as amended, in order to permit the sale by May & Speh of
any Option Shares purchased under the Option.

          Each of the Proxies contains the agreement of the relevant grantor
that during the term of such Proxies, among other things, such grantor will not
(i) sell, transfer, assign, pledge, hypothecate, cause to be redeemed or
otherwise dispose of the Common Stock owned by it, (ii) grant any proxy or
interest in or with respect to such Common Stock or deposit such shares into a
voting trust or enter into a voting agreement or arrangement with respect to
such shares, or (iii) subject to the grantor exercising his fiduciary duties as
a director of the Issuer, initiate or solicit any inquiries or the making of any
proposal with respect to, engage in negotiations concerning, provide any
confidential information or data to, or have any discussions with, any person
relating to, any acquisition, business combination or purchaser of all or any
significant portion of the assets of, or any equity interest in (other than the
shares subject to such Proxy), the Issuer or any subsidiary thereof.

          Upon consummation of the Merger, pursuant to the terms of the Merger
Agreement, (i) the Certificate of Incorporation and By-Laws of Sub as in effect
immediately prior to the effectiveness of the Merger shall be the Certificate of
Incorporation and By-laws of May & Speh as the surviving corporation in the
Merger, (ii) the directors of Sub immediately prior to the effectiveness of the
Merger shall be the directors of May & Speh as the surviving corporation in the
Merger, and (iii) the officers of May & Speh immediately prior to the
effectiveness of the Merger shall be the officers of May & Speh as the surviving
corporation in the Merger.  In addition, as a result of the consummation of the
Merger, the common stock of May & Speh will become eligible for termination of
registration pursuant to Section 12(g)(4) of the Securities Exchange Act of
1934, as amended, and application will be made to remove the common stock from
listing on the National Association of Securities Dealers Automated Quotations
National Market System (NASDAQ).

          The descriptions of the Stock Option Agreement, the Proxies, the
Merger Agreement, the May & Speh Stock Option Agreement and the Speh Proxies are
qualified in their entirety by reference to such agreements, copies of which are
filed hereto as Exhibits 1 through 8 and which are incorporated herein by
reference.

          Other than as described above, May & Speh has no plans or proposals
which relate to, or may result in, any of the matters listed in Items 4(a)-(j)
of this Statement.

          The information in Items 3, 5 and 6 of this Statement is incorporated
by reference in this Item 4.

ITEM 5.   INTEREST IN SECURITIES OF THE ISSUER.
          ------------------------------------ 
 
          (A) AND (B). As a result of the issuance of the Option, May & Speh may
be deemed to be the beneficial owner of 10,436,929.72 shares of Common Stock,
which would represent approximately 16.6% of the shares of Common Stock issued
and outstanding after exercise of the Option (based on the number of Shares
outstanding on the date of the Merger Agreement as represented by the Issuer in
the Merger Agreement).  Upon issuance, May & Speh will have sole voting power
and sole dispositive power with respect to such shares.  Nothing herein shall be
deemed an admission by May & Speh as to the beneficial ownership of any such
shares, and, prior to exercise of the Option, May & Speh expressly disclaims
beneficial ownership of all Option Shares.

          As a result of entering into the Proxies, May & Speh may be deemed to
be the beneficial owner of 8,037,425 shares of Common Stock, which would
represent approximately 12.8% of the total shares of Common Stock issued and
outstanding as of May 26, 1998, including shares of Common Stock issuable upon
exercise of the Option, as represented by the Issuer in the Merger Agreement.
Subject to the

                                      -6-
<PAGE>
 
nonalienation provisions contained in the Proxies, each of the grantors
thereunder has retained the right to receive and the power to direct the receipt
to dividends from, or the proceeds from the sale of, and dispositive power with
respect to, the shares of Common Stock subject to the Proxies.  In addition,
other than the grant of an irrevocable proxy by each of the grantors thereunder
to vote all of the shares of Common Stock subject to the Proxies in favor of any
proposal to approve and adopt the Merger Agreement (or if the power granted
under such Proxy is unexercisable for any reason, the agreement by each of the
grantors thereunder to vote the shares subject to such Proxy in favor of any
proposal to approve and adopt the Merger Agreement and the transactions
contemplated thereby), each of the grantors thereunder has retained sole voting
power with respect to the shares of Common Stock subject to the Proxies.
Nothing herein shall be deemed an admission by May & Speh as to the beneficial
ownership of any shares of Common Stock subject to the Proxies, and May & Speh
expressly disclaims beneficial ownership of all shares of Common Stock subject
to the Proxies except to the extent described above.

          (C).  Except as set forth in the Merger Agreement and the Proxies, to
the best knowledge of May & Speh, neither May & Speh, the Issuer nor any other
person described in Item 2 hereof has engaged in any transaction during the past
60 days in any shares of the Common Stock.

          The information in Items 3, 4, and 6 of this Statement is incorporated
by reference in this Item 5.
 
ITEM 6.   CONTRACTS, ARRANGEMENTS OR UNDERSTANDINGS
          WITH RESPECT TO SECURITIES OF THE COMPANY.
          ----------------------------------------- 

          Except as set forth in this Statement, the Merger Agreement and the
Proxies, to the best knowledge of May & Speh, there are no other contracts,
arrangements, understandings or relationships (legal or otherwise) among the
persons named in Item 2 and between such persons and any person with respect to
any securities of the Issuer, including but not limited to, transfer or voting
of any of the securities of the Issuer, joint ventures, loan or option
arrangements, puts or calls, guarantees or profits, division of profits or loss,
or the giving or withholding of proxies, or a pledge or contingency the
occurrence of which would give another person voting power over the securities
of the Issuer.

          The information in Items 3, 4 and 5 of this Statement is incorporated
by reference in this Item 6.

ITEM 7.   MATERIAL TO BE FILED AS EXHIBITS.
          -------------------------------- 

          1.   Stock Option Agreement dated as of May 26, 1998 by and between
               May & Speh, Inc. and Acxiom Corporation.

          2.   Irrevocable Proxy dated May 26,1998 by and between Charles D.
               Morgan and May & Speh, Inc.

          3.   Irrevocable Proxy dated June 1, 1998 by and between Pritzker
               Foundation and May & Speh, Inc.

          3-A. Irrevocable Proxy dated June 1, 1998 by and between Trans Union
               Corporation and May & Speh, Inc.

          3-B. Irrevocable Proxy dated June 1, 1998 by and between Robert 
               Pritzker and May & Speh, Inc.

          4.   Agreement and Plan of Merger By and Among Acxiom Corporation, ACX
               Acquisition Co., Inc. and May & Speh, Inc. dated as of May 26,
               1998.

          5.   Stock Option Agreement dated as of May 26, 1998 by and between
               Acxiom Corporation and May & Speh, Inc.

                                      -7-
<PAGE>
 
          6.   Irrevocable Proxy dated May 26, 1998 by and between Lawrence J.
               Speh and Acxiom Corporation.

          7.   Irrevocable Proxy dated May 26, 1998 by and between Albert J.
               Speh, Jr. and Acxiom Corporation.

          8.   Irrevocable Proxy dated June 1, 1998 by and between the grantors
               named therein and Acxiom Corporation.
<PAGE>
 
                                   SIGNATURES

After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.

Dated: June 3, 1998

                                   MAY & SPEH, INC.


                                   By:  /s/ Eric Loughmiller
                                        ------------------------------------
                                        Name:  Eric Loughmiller
                                        Title: Executive Vice President and
                                               Chief Financial Officer

                                   
<PAGE>
 
                                  SCHEDULE I

              INFORMATION CONCERNING THE DIRECTORS AND EXECUTIVE
                         OFFICERS OF MAY & SPEH, INC.

     The following table sets forth the name, business address, citizenship and
principal occupation or employment of each director and executive officer of May
& Speh, Inc.  Unless otherwise noted, each such person is a citizen of the
United States.  In addition, unless otherwise noted, each such person's business
address is May & Speh, Inc., 1501 Opus Place, Downers Grove, Illinois, 60515.

             DIRECTORS AND EXECUTIVE OFFICERS OF MAY & SPEH, INC.

 
NAME
----

Peter I. Mason           Director; President and Chief Operating Officer.

Deborah A. Bricker       Director; President of Bricker & Associates, Inc., a
                         productivity consulting firm based in Chicago,
                         Illinois. Ms. Bricker's business address is c/o Bricker
                         & Associates, Inc., 625 North Michigan Avenue, Suite
                         1100, Chicago, Illinois 60611.

Casey Cowell             Director; Vice Chairman of 3Com Corporation. Mr.
                         Cowell's business address is c/o Durandel, Inc., 676
                         North Michigan Avenue, Chicago, Illinois 60611.

Lawrence J. Speh         Director; Consultant to May & Speh.

Paul G. Yovovich         Director; President of Advance Ross Corp., a public
                         company until its 1996 merger with CUC International.
                         Mr. Yovovich's business address is c/o Advance Ross
                         Corporation, 233 South Wacker Drive, Chicago, Illinois
                         60606.

Jonathan Zakin           Director; President of Leeward Management/Seaview
                         Holdings. Mr. Zakin's business address is c/o Seaview
                         Holdings, L.L.C., 676 North Michigan Avenue, Suite
                         3110, Chicago, Illinois 60611.

Albert J. Speh, Jr.      Director; Served as Chairman of the Board of Directors
                         from 1992 to November 1997.

Robert C. Early          Director and Executive Vice President, Corporate
                         Development.

Eric M. Loughmiller      Executive Vice President and Chief Financial Officer.

Terrence C. Cieslak      Executive Vice President and Chief Technology Officer.

Michael J. Loeffler      Executive Vice President, Direct Marketing Services.

John G. Jazwiec          Senior Vice President and Chief Information Officer.

Willard E. Engel, Jr.    Vice President, Chief Accounting Officer and Treasurer.

                                      -10-
<PAGE>
 
                                 EXHIBIT INDEX
                                 -------------


        EXHIBIT
        -------


        1.     Stock Option Agreement dated as of May 26, 1998 by and between
               May & Speh, Inc. and Acxiom Corporation.

        2.     Irrevocable Proxy dated May 26,1998 by and between Charles D.
               Morgan and May & Speh, Inc.

        3.     Irrevocable Proxy dated June 1, 1998 by and between Pritzker
               Foundation and May & Speh, Inc.

        3-A.   Irrevocable Proxy dated June 1, 1998 by and between Trans Union
               Corporation and May & Speh, Inc.

        3-B.   Irrevocable Proxy dated June 1, 1998 by and between Robert 
               Pritzker and May & Speh, Inc.

        4.     Agreement and Plan of Merger By and Among Acxiom Corporation, ACX
               Acquisition Co., Inc. and May & Speh, Inc. dated as of May 26,
               1998.

        5.     Stock Option Agreement dated as of May 26, 1998 by and between
               Acxiom Corporation and May & Speh, Inc.

        6.     Irrevocable Proxy dated May 26, 1998 by and between Lawrence J.
               Speh and Acxiom Corporation.

        7.     Irrevocable Proxy dated May 26, 1998 by and between Albert J.
               Speh, Jr. and Acxiom Corporation.

        8.     Irrevocable Proxy dated June 1, 1998 by and between the grantors
               named therein and Acxiom Corporation.
