UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ______)*
Gyrodyne Company of America, Inc.
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(Name of Issuer)
Common Stock, $1.00 par value
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(Title of Class of Securities)
403820103
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(CUSIP Number)
Stephen V. Maroney
Gyrodyne Company of America, Inc.
1 Flowerfield, Suite 24
St. James, New York 11780
(631) 584-5400
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 20, 2007
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(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 ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss.240.13d-7 for other
parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
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).
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 control
number.
CUSIP No. 403820103
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Stephen V. Maroney
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
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3. SEC Use Only
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4. Source of Funds (See Instructions)
PF, OO
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
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6. Citizenship or Place of Organization
United States of America
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7. Sole Voting Power
Number of
Shares Bene- 0
ficially ------------------------------------------------------
Owned by Each 8. Shared Voting Power
Reporting
Person With 81,087 (represents shares held jointly with
spouse, Jacqueline A. Maroney)
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9. Sole Dispositive Power
0
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10. Shared Dispositive Power
81,087 (represents shares held jointly with
spouse, Jacqueline A. Maroney)
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
81,087
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (see
Instructions)
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13. Percent of Class Represented by Amount in Row (11)
6.5%
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14. Type of Reporting Person (See Instructions)
IN
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CUSIP No. 403820103
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Jacqueline A. Maroney
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
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3. SEC Use Only
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4. Source of Funds (See Instructions)
PF, OO
--------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
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6. Citizenship or Place of Organization
United States of America
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7. Sole Voting Power
Number of
Shares Bene- 0
ficially ------------------------------------------------------
Owned by Each 8. Shared Voting Power
Reporting
Person With 81,087 (represents shares held jointly with
spouse, Stephen V. Maroney)
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9. Sole Dispositive Power
0
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10. Shared Dispositive Power
81,087 (represents shares held jointly with
spouse, Stephen V. Maroney)
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
81,087
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (see
Instructions)
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13. Percent of Class Represented by Amount in Row (11)
6.5%
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14. Type of Reporting Person (See Instructions)
IN
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Item 1. Security and Issuer
This statement of beneficial ownership on Schedule 13D is filed with respect to
the common stock, $1.00 par value per share (the "Common Stock"), of Gyrodyne
Company of America, Inc., a New York corporation (the "Company"). The principal
executive offices of the Company are located at 1 Flowerfield, Suite 24, St.
James, New York 11780.
Item 2. Identity and Background
(a) This statement of beneficial ownership on Schedule 13D is being filed by
Stephen V. Maroney and Jacqueline A. Maroney (together, the "Reporting
Persons").
(b) The residence address of the Reporting Persons is 19 Great Oak Road, St.
James, New York 11780.
(c) Mr. Maroney serves as President, Chief Executive Officer and Treasurer of
the Company. Mrs. Maroney is a homemaker.
(d) During the last five years, neither of the Reporting Persons has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) During the last five years, neither of the Reporting Persons has 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 or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws.
(f) The Reporting Persons are citizens of the United States of America.
Item 3. Service and Amount of Funds or Other Consideration
On March 20, 2007, Mr. Maroney exercised options to acquire 51,605 shares of
Common Stock and paid the exercise price through the surrender of 11,807
previously-owned shares of Common Stock pursuant to the terms of such options.
Item 4. Purpose of Transaction
Following his acquisition of shares of Common Stock pursuant to the exercise of
options referred to in Item 3, Mr. Maroney transferred such shares into an
account held jointly by him and Mrs. Maroney. The acquisition of such shares,
together with the acquisition of all other shares held by Mr. and Mrs. Maroney,
is for investment purposes. The Reporting Persons will continue to evaluate
market conditions in deciding whether to acquire additional shares, sell all or
a portion of their shares, or maintain their current ownership position.
Except as otherwise disclosed in this Item 4, the Reporting Persons have no
plans or proposals which relate to or would result in:
(a) The acquisition by any person of additional securities of the issuer,
or the disposition of securities of the issuer;
(b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the issuer or any of its
subsidiaries;
(c) A sale or transfer of a material amount of assets of the issuer or any
of its subsidiaries;
(d) Any change in the present board of directors or management of the
issuer, including any plans or proposals to change the number or term
of directors or to fill any existing vacancies on the board;
(e) Any material change in the present capitalization or dividend policy
of the issuer;
(f) Any other material change in the issuer's business or corporate
structure including but not limited to, if the issuer is a registered
closed-end investment company, any plans or proposals to make any
changes in its investment policy for which a vote is required by
section 13 of the Investment Company Act of 1940;
(g) Changes in the issuer's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of control
of the issuer by any person;
(h) Causing a class of securities of the issuer to be delisted from a
national securities exchange or to cease to be authorized to be quoted
in an inter-dealer quotation system of a registered national
securities association;
(i) A class of equity securities of the issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the
Securities Exchange Act of 1934; or
(j) Any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer
(a) The Reporting Persons jointly own beneficially 81,087 shares of Common
Stock, constituting approximately 6.5% of shares outstanding as of the
Company's filing on March 15, 2007 of its most recent Annual Report on Form
10-K.
(b) The Reporting Persons have shared power to vote and to dispose of 81,087
shares of Common Stock. Neither Mr. nor Mrs. Maroney has sole power to vote
or to dispose of any shares of Common Stock.
(c) Except as otherwise disclosed on this Schedule 13D, the Reporting Persons
have not effected any transactions in Common Stock during the past sixty
days.
(d),(e) Not applicable
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
Stephen V. Maroney and Jacqueline A. Maroney are husband and wife and own their
shares of Common Stock jointly.
Except as otherwise disclosed on this Schedule 13D, there are no contracts,
arrangements, understandings or relationships with respect to any securities of
the Company among the Reporting Persons or between any of the Reporting Persons
and any other person.
Item 7. Material to Be Filed as Exhibits
None.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: March 29, 2007
/s/ Stephen V. Maroney
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Stephen V. Maroney
/s/ Jacqueline A. Maroney
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Jacqueline A. Maroney
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)