As Filed with the Securities and Exchange Commission on August 23, 2004
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Amendment No. 9)
Under the Securities Exchange Act of 1934
Capital Trust, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Class A Common Stock, par value $0.01 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
14052H100
--------------------------------------------------------------------------------
(CUSIP Number)
Michael L. Zuppone, Esq.
Paul, Hastings, Janofsky & Walker LLP
75 East 55th Street
New York, New York 10022
(212) 318-6000
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
May 11, 2004
------------------------------------------------
(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 that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box. |_|
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 2 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Veqtor Finance Company, L.L.C.
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 897,429
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
897,429
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
897,429
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.15%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 3 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Zell General Partnership, Inc.
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 922,429
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
922,429
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
922,429
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.35%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 4 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sam Investment Trust
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 922,429
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
922,429
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
922,429
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.35%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 5 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Chai Trust Company, L.L.C.
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 922,429
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
922,429
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
922,429
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.35%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 6 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SZ Investments, L.L.C.
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 25,000
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
25,000
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,000
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.20%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 7 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Samstock, L.L.C.
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, WC
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 25,000
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
25,000
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,000
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.20%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 8 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CMH Investment Partnership LP
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 610,044
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
610,044
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
610,044
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.86%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 9 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Craig M. Hatkoff
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 670,096
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
670,096
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
670,096
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.32%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 10 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JRK Investment Partnership LP
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 600,044
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
600,044
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
600,044
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.78%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 11 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John R. Klopp
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 1,054,264
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
1,054,264
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,054,264
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.29%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
---------------------- -------------------------
CUSIP No. 14052H100 Page 12 of 17 Pages
--------- ----- ----
---------------------- -------------------------
This Amendment No. 9 to Schedule 13D is filed by the Reporting
Persons (as defined below) pursuant to rule 13d-2(a) under the Securities
Exchange Act of 1934, as amended. This Amendment No. 9 to Schedule 13D
amends and supplements:
o the Schedule 13D, dated July 15, 1997, as filed with the Securities
and Exchange Commission (the "SEC") on July 25, 1997, as amended by
o Amendment No. 1, as filed with the SEC on December 22, 1997, as
amended by
o Amendment No. 2, as filed with the SEC on July 2, 1998, as amended
by
o Amendment No. 3, as filed with the SEC on August 19, 1999, as
amended by
o Amendment No. 4, as filed with the SEC on September 30, 1999, as
amended by
o Amendment No. 5, as filed with the SEC on February 2, 2000, as
amended by
o Amendment No. 6, as filed with the SEC on May 23, 2000, as amended
by
o Amendment No. 7, as filed with the SEC on November 2, 2001, as
amended by
o Amendment No. 8, as filed with the SEC on May 28, 2003 (together
with the original Schedule as previously amended, the "Schedule
13D").
The Reporting Persons are:
(i) Veqtor Finance Company, L.L.C., a Delaware limited liability
company ("VFC");
(ii) Samstock, L.L.C., a Delaware limited liability company
("Samstock");
(iii) SZ Investments, L.L.C., a Delaware limited liability company and
the sole member of Samstock ("SZI");
(iv) Zell General Partnership, Inc., an Illinois corporation and the
sole managing member of SZI and the sole managing member of VFC
("Zell GP");
(v) the Sam Investment Trust, a trust formed under Illinois law and
the sole stockholder of Zell GP ("Sam Trust");
(vi) Chai Trust Company, L.L.C., an Illinois limited liability company
and the trustee of Sam Trust ("Chai")
(vii) CMH Investment Partnership LP, a Delaware limited partnership
("Hatkoff LP")
(viii) Mr. Craig M. Hatkoff, a citizen of the United States and the
general partner of Hatkoff LP ("Hatkoff");
---------------------- -------------------------
CUSIP No. 14052H100 Page 13 of 17 Pages
--------- ----- ----
---------------------- -------------------------
(ix) JRK Investment Partnership LP, a Delaware limited partnership
("Klopp LP"); and
(x) Mr. John R. Klopp, a citizen of the United States and the general
partner of Klopp LP ("Klopp" and, collectively with VFC, Samstock,
SZI, Zell GP, Sam Trust, Chai, Hatkoff LP, Hatkoff and Klopp LP,
the "Reporting Persons").
The original schedule reported beneficial ownership of class A common
shares of beneficial interest, $1.00 par value (the "Class A Common Shares"), in
Capital Trust, a California business trust. As reported in Amendment No. 3 to
Schedule 13D, Capital Trust reorganized into Capital Trust, Inc., a Maryland
corporation and each Class A Common Share was converted into one share of class
A common stock, par value $0.01 per share, of Capital Trust, Inc. As reported in
Amendment No. 8 to Schedule 13D, the Issuer effected a one (1) for three (3)
reverse stock split which became effective April 2, 2003. This statement
therefore relates to the shares of class A common stock, par value $0.01 per
share ("Class A Common Stock"), of Capital Trust, Inc. (hereinafter the
"Issuer"), after giving effect to the reorganization and reverse stock split.
The Issuer's principal office is located at 410 Park Avenue, 14th Floor, New
York, New York 10022. All capitalized terms not otherwise defined herein shall
have the meanings ascribed thereto in the Schedule 13D.
Item 5. Interest in Securities of the Issuer.
Item 5 is amended as follows:
(a) and (b) The aggregate percentage of shares of Class A Common Stock
reported beneficially owned by the Reporting Persons as of the date of filing of
this Amendment No. 9 to the Schedule 13D is based upon 12,544,161 shares of
Class A Common Stock issued and outstanding as of August 5, 2004 as reported in
the Issuer's Quarterly Report on Form 10-Q, as filed with the SEC on August 16,
2003. The Reporting Persons as a group beneficially own 2,646,789 shares of
Class A Common Stock, including (i) 2,412,179 outstanding shares of Class A
Common Stock; and (ii) 234,610 shares of stock issuable upon exercise or
conversion of outstanding stock options and stock units. The foregoing shares
represent approximately 20.7% of the outstanding shares of Class A Common Stock
(calculated in accordance with Rule 13d-3(d)(1)).
VFC holds of record and thereby directly beneficially owns and has the
sole direct power to vote and dispose of 897,429 outstanding shares of Class A
Common Stock (the "VFC Reported Shares"). Chai, Sam Trust and Zell GP each have
the sole indirect power to vote and dispose of the VFC Reported Shares. Samstock
directly beneficially owns and has the sole direct power to vote and dispose of
25,000 shares of Class A Common Stock ("Samstock Reported Shares"). Chai, Sam
Trust, Zell GP and SZI each have the sole indirect power to vote and dispose of
the Samstock Reported Shares. Hatkoff LP holds of record and thereby directly
beneficially owns and has the sole power to vote and dispose of 610,044
outstanding shares of Class A Common Stock (the "Hatkoff LP Reported Shares").
Hatkoff has the sole indirect power to vote or dispose of the Hatkoff LP
Reported Shares. Hatkoff beneficially owns and has the sole power to vote and
dispose of 6,000 outstanding shares of Class A Common Stock. Hatkoff
beneficially owns and will have the sole power to vote and dispose of 54,052
shares of
---------------------- -------------------------
CUSIP No. 14052H100 Page 14 of 17 Pages
--------- ----- ----
---------------------- -------------------------
Class A Common Stock issuable upon the exercise of options to purchase and stock
units to obtain shares of Class A Common Stock that are, or become within 60
days, vested and exercisable. Klopp LP holds of record and thereby directly
beneficially owns and has the sole power to vote and dispose of 600,044
outstanding shares of Class A Common Stock (the "Klopp LP Reported Shares").
Klopp has the sole indirect power to vote or dispose of the Klopp LP Reported
Shares. Klopp beneficially owns and has the sole power to vote and dispose of
32,962 outstanding shares of Class A Common Stock. Klopp holds of record and
thereby directly beneficially owns and has the sole power to vote 240,700
outstanding shares of Class A Common Stock subject to restricted stock grants.
Klopp beneficially owns and will have the sole power to vote and dispose of
180,558 shares of Class A Common Stock issuable upon the exercise of options to
purchase shares of Class A Common Stock that are, or become within 60 days,
vested and exercisable.
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of Issuer.
Item 6 is amended by adding the following:
On May 11, 2004, the Issuer entered into a Securities Purchase Agreement
(the "Purchase Agreement") with W. R. Berkley Corporation and, for purposes of
Section 2.4 of the Purchase Agreement, VFC, Samstock, Klopp, Klopp LP, Hatkoff
and Hatkoff LP (the "Shareholders"). Hereinafter, the term "Berkley" refers to
W. R. Berkley Corporation and its designated controlled affiliates: Admiral
Insurance Company, Berkley Insurance Company, Berkley Regional Insurance Company
and Nautilus Insurance Company. Pursuant to the Purchase Agreement, the Issuer:
1. issued and sold to Berkley on May 11, 2004, 1,310,000 shares of Class A
Common Stock and stock purchase warrants, to purchase 365,000 shares (the
"Warrant Shares") of Class A Common Stock for a total purchase price of
$30,654,000; and
2. issued and sold to Berkley on June 21, 2004, an additional 325,000
shares (the "Tranche 2 Shares") of Class A Common Stock for a total purchase
price of $7,605,000.
Pursuant to the Purchase Agreement, the Issuer agreed to appoint one
designee of Berkley to its board of directors, and thereafter nominate this
designee or alternative designee for election to the board at each subsequent
annual meeting of stockholders subject to certain conditions relating to
Berkley's continued ownership of Class A Common Stock. Effective May 11, 2004,
pursuant to such designation right, the board appointed Joshua A. Polan a
director of the Issuer.
Pursuant to the Purchase Agreement, the Shareholders, agreed to vote all
shares of Class A Common Stock they beneficially own or over which they have
voting control over in favor of the continued election of the Berkley board
designee. In addition, the Shareholders agreed not to take, or support the
taking of, any action to remove as a director the Berkley board designee, unless
Berkley requests that such director be removed (in which case the Shareholders
agreed to cooperate in effecting such removal and electing a replacement). The
Shareholders agreed to vote at the Issuer's 2004 annual meeting of stockholders
all shares of Class A Common Stock
---------------------- -------------------------
CUSIP No. 14052H100 Page 15 of 17 Pages
--------- ----- ----
---------------------- -------------------------
they beneficially own or over which they have voting control over in favor of
the issuance of the Tranche 2 Shares and the Warrant Shares.
Berkley reported aggregate beneficial ownership of 2,000,000 shares of
Class A Common Stock, which shares represent 24.0% of the outstanding shares of
Class A Common Stock (calculated in accordance with Rule 13d-3(d)(1)). The
Reporting Persons disclaim beneficial ownership of any shares of Class A Common
Stock beneficially owned by Berkley. Berkley has disclaimed beneficial ownership
of any shares of Class A Common Stock held by the Reporting Persons.
A copy of the Purchase Agreement is filed as Exhibit 1 hereto and is
incorporated herein by reference.
On January 26, 2004, pursuant to the Issuer's amended and restated 1997
long-term incentive stock plan ("1997 Plan"), Klopp was granted 21,882 shares of
restricted Class A Common Stock. On June 30, 2003, July 15, 2003, September 30,
2003, October 15, 2003, December 31, 2003, January 15, 2004, March 31, 2004,
April 15, 2004, June 30, 2004 and July 15, 2004, pursuant to the 1997 Plan,
Hatkoff was granted stock units which are immediately vested and convertible
into 419, 108, 375, 120, 339, 117, 308, 118, 281 and 114 shares of Class A
Common Stock, respectively.
On February 24, 2004, pursuant to the 1997 Plan, Klopp was granted a
performance stock award pursuant to which Klopp may initially vest in a right to
receive shares of Class A Common Stock with a value at the end of 2004 ranging
from $0 to $750,000 if and to the extent the initial performance criteria is
satisfied subject to further vesting over time and the extent of the
satisfaction of additional vesting criteria.
On July 15, 2004, pursuant to his employment agreement and the Issuer's
2004 long-term incentive plan, Klopp was granted 218,818 shares of restricted
Class A Common Stock.
To the best of knowledge of the Reporting Persons, except as described in
this Amendment No. 9, none of the Reporting Persons has effected any
transactions in the Class A Common Stock during the period which commenced sixty
days prior to the date of the event which triggered the filing of this Amendment
No. 9 to Schedule 13D and ends on the date of filing of this Amendment No. 9 to
Schedule 13D.
Item 7. Materials to be Filed as Exhibits.
--------------------------------------------------------------------------
Exhibit No. Description
---------- -----------
--------------------------------------------------------------------------
1. Purchase Agreement, dated as of May 11, 2004, among the
Issuer, Berkley and certain stockholders of the Issuer
(filed as Exhibit 10.1 to the Issuer's Current Report on
Form 8-K (File No. 1-14788) filed on May 11, 2004 and
incorporated herein by reference).
--------------------------------------------------------------------------
[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, each
of the undersigned certifies that the information set forth in this statement is
true, complete and correct and agrees that this statement may be filed jointly
with the other undersigned parties.
Veqtor Finance Company, L.L.C.
By: Zell General Partnership, Inc.,
its managing member
By:/s/ Donald J. Liebentritt
-------------------------
Name: Donald J. Liebentritt
Title: Vice President
Samstock, L.L.C.
By:/s/ Donald J. Liebentritt
-------------------------
Name: Donald J. Liebentritt
Title: Vice President
SZ Investments, L.L.C.
By:/s/ Donald J. Liebentritt
-------------------------
Name: Donald J. Liebentritt
Title: Vice President
Zell General Partnership, Inc.
By:/s/ Donald J. Liebentritt
-------------------------
Name: Donald J. Liebentritt
Title: Vice President
Sam Investment Trust
By: Chai Trust Company, L.L.C.,
as Trustee
By:/s/ Donald J. Liebentritt
-------------------------
Name: Donald J. Liebentritt
Title: President
Chai Trust Company, L.L.C.
By:/s/ Donald J. Liebentritt
-------------------------
Name: Donald J. Liebentritt
Title: President
CMH Investment Partnership LP
By: Craig M. Hatkoff, its general
partner
/s/ Craig M. Hatkoff
--------------------
Name: Craig M. Hatkoff
Title: General Partner
CRAIG M. HATKOFF
/s/ Craig M. Hatkoff
---------------------
JRK Investment Partnership LP
By: John R. Klopp, its general
partner
/s/ John R. Klopp
--------------------
Name: John R. Klopp
Title: General Partner
JOHN R. KLOPP
/s/ John R. Klopp
---------------------