SCHEDULE 13D/A
(RULE 13d-101)
Information to be Included in Statements Filed Pursuant to Rule 13d-1(a) and
Amendments Thereto Filed Pursuant to Rule 13d-2(a)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Under the Securities Exchange Act of 1934
(Amendment No. 16)*
WESTCORP
_______________________________________________________________________________
(Name of Issuer)
Common Stock, $1.00 Par Value
_______________________________________________________________________________
(Title of Class of Securities)
957907108
_______________________________________________________________________________
(CUSIP Number)
ERNEST S. RADY
Chairman and Chief Executive Officer
23 Pasteur
Irvine, California 92618
_______________________________________________________________________________
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 7, 2003
_______________________________________________________________________________
(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 [ ].
Note. Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 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).
CUSIP No. 957907108 13D Page 2 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ERNEST S. RADY AND ERNEST S. RADY TRUST
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
PF
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 60.95% (based on 45,353,352 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
OO + IN
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 3 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EVELYN SHIRLEY RADY AND EVELYN SHIRLEY RADY TRUST
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
PF
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 60.95% (based on 45,353,352 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
OO + IN
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 4 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AVRETT ENTERPRISES, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
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
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 60.95% (based on 45,353,352 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 5 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SILPIT INDUSTRIES CO., LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
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
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 60.95% (based on 45,353,352 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 6 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MEMRAD HOLDINGS, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
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
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 60.95% (based on 45,353,352 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 7 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AMERICAN ASSETS, INC.
I.R.S. ID NO. 95-249-3347
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
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
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 60.95% (based on 45,353,352 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 8 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CANPAC ENTERPRISES, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
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
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 60.95% (based on 45,353,352 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 9 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WESTERN INSURANCE HOLDINGS, INC.
I.R.S. ID NO. 95-2890041
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
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
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 60.95% (based on 45,353,352 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
IC
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 10 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
INSURANCE COMPANY OF THE WEST
I.R.S. ID NO. 95-2769232
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
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
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 60.95% (based on 45,353,352 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
IC
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 11 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EXPLORER INSURANCE COMPANY
I.R.S. ID NO. 94-2784519
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
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
ARIZONA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 60.95% (based on 45,353,352 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
IC
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 12 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DHM Trust
I.R.S. ID NO. 33-6003176
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
PF
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 60.95% (based on 45,353,352 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
OO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Item 1. Security and Issuer.
Common Stock, $1.00 par value
WESTCORP
23 Pasteur Road
Irvine, CA 92618
Item 2. Identity and Background.
ERNEST S. RADY AND ERNEST S. RADY TRUST
(a) Ernest S. Rady and Ernest S. Rady, Trustee
Mr. Rady's address is:
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
(b) The Trust's principal business address is:
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Attn: Ernest S. Rady, Trustee
(c) Mr. Rady, the Trustee of the above referenced trust is the Chairman
and Chief Executive Officer of the Issuer and is an executive
officer and/or director of many of the reporting parties included in
this Schedule 13D.
(d) Current conviction during the last five years: None
(e) Securities laws proceedings: None.
(f) Citizenship: CANADA
EVELYN SHIRLEY RADY AND EVELYN SHIRLEY RADY TRUST
(a) Evelyn Shirley Rady and Ernest S. Rady, Trustee
Mrs. Rady's address is:
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
(b) The Trust's principal business address is:
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Attn: Ernest S. Rady, Trustee
(c) Mr. Rady, the Trustee of the above referenced trust is the Chairman
and Chief Executive Officer of the Issuer and is an executive
officer and/or director of many of the reporting parties included in
this Schedule 13D.
(d) Current conviction during the last five years: None
(e) Securities laws proceedings: None
(f) Citizenship: CANADA
Page 13 of 27 Pages
AVRETT ENTERPRISES, LTD.
(a) Avrett Enterprises, Ltd.
(b) The principal business address is:
Avrett Enterprises, Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) Canadian corporation.
SILPIT INDUSTRIES CO., LTD.
(a) Silpit Industries Co., Ltd.
(b) The principal business address is:
Silpit Industries Co., Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
MEMRAD HOLDINGS, LTD.
(a) Memrad Holdings, Ltd.
(b) The principal business address is:
Memrad Holdings, Ltd.
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) Canadian corporation.
AMERICAN ASSETS, INC.
(a) American Assets, Inc.
(b) The principal business address is:
American Assets, Inc.
11455 El Camino Real, Suite 200
San Diego, California 92130-2045
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
Page 14 of 27 Pages
CANPAC ENTERPRISES, LTD.
(a) Canpac Enterprises, Ltd.
(b) The principal business address is:
Canpac Enterprises, Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) Canadian corporation.
WESTERN INSURANCE HOLDINGS, INC.
(a) Western Insurance Holdings, Inc.
(b) The principal business address is:
Western Insurance Holdings, Inc.
11455 El Camino Real, Suite 200
San Diego, California 92130-2045
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
INSURANCE COMPANY OF THE WEST
(a) Insurance Company of the West
(b) The principal business address is:
Insurance Company of the West
11455 El Camino Real, Suite 200
San Diego, California 92130-2045
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
EXPLORER INSURANCE COMPANY
(a) Explorer Insurance Company
(b) The principal business address is:
Explorer Insurance Company
11455 El Camino Real, Suite 200
San Diego, California 92130-2045
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) Arizona corporation.
DHM TRUST
(a) DHM Trust, Ernest S. Rady, Trustee
Mr. Rady's address is:
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
(b) The Trust's principal business address is:
11455 El Camino Real
San Diego, CA 92130-2045
Attn: Ernest S. Rady, Trustee
(c) Mr. Rady, the Trustee of the above referenced trust is the Chairman
and Chief Executive Officer of the Issuer and is an executive
officer and/or director of many of the reporting parties included in
the Schedule 13D.
(d) Current conviction during last five years: None
(e) Securities laws proceedings: None
(f) Citizenship: Canada
Identification of Members of the Group
Ernest Rady
(a) Ernest Rady
The Ernest S. Rady Trust
(a) Ernest S. Rady, Trustee
Page 15 of 27 Pages
The Evelyn Shirley Rady Trust
(a) Ernest S. Rady, Trustee
Avrett Enterprises, Ltd.
(a) Avrett Enterprises, Ltd.
Names and Addresses of Officers
and Directors as of July 7, 2003 Title
--------------------------------- -----
Sylvia Silverberg President, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Evelyn Rady Vice President, Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Ernest S. Rady Vice President
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Nora Kaufman Secretary, Treasurer, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Silpit Industries Co., Ltd.
Names and Addresses of Officers
and Directors as of July 7, 2003 Title
--------------------------------- -----
(a) Silpit Industries Co., Ltd.
David S. Kaufman President, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Nora Kaufman Secretary, Treasurer, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Page 16 of 27 Pages
Evelyn Rady Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Sylvia Silverberg Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Allan Kaufman Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Memrad Holdings, Ltd.
Names and Addresses of Officers
and Directors as of July 7, 2003 Title
--------------------------------- -----
(a) Memrad Holdings, Ltd.
Ernest S. Rady President, Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Marjorie Blankstein Treasurer, Director
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Morley Blankstein Vice President
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Mindel Olenick Assistant Secretary,
903-213 Notre Dame Avenue Director
Winnipeg, Manitoba
Canada R3B 1N3
Thomas Z. Olenick Vice President
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Page 17 of 27 Pages
Brian Hirsch Secretary
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
American Assets, Inc.
(a) American Assets, Inc., a California corporation
Names and Addresses of Officers
and Directors as of July 7, 2003 Title
--------------------------------- -----
Ernest S. Rady Chairman of the Board, President
11455 El Camino Real, Suite 200
San Diego, CA 92130
Harry M. Rady Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
John W. Chamberlain Chief Executive Officer, Senior
11455 El Camino Real, Suite 200 Executive Vice President, Director
San Diego, CA 92130-2045
Allen Garrett Executive Vice President,
11455 El Camino Real, Suite 200 Residential Properties
San Diego, CA 92130-2045
James R. Cronemeyer Vice President,
11455 El Camino Real, Suite 200 Commercial Properties
San Diego, CA 92130-2045
James Roherty Vice President - Construction
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Robert F. Barton Exec. Vice President, Chief Financial
11455 El Camino Real, Suite 200 Officer & Secretary
San Diego, CA 92130-2045
Page 18 of 27 Pages
Canpac Enterprises, Ltd.
(a) Canpac Enterprises, Ltd.
Names and Addresses of Officers
and Directors as of July 7, 2003 Title
--------------------------------- -----
Ernest S. Rady President, Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Brian Hirsch Secretary, Treasurer, Director
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
David S. Kaufman Director
11455 El Camino Real #200
San Diego, CA 92130-2045
Western Insurance Holdings, Inc.
Names and Addresses of Officers
and Directors as of July 7, 2003 Title
--------------------------------- -----
(a) Western Insurance Holdings, Inc.
Ernest S. Rady Chairman of the Board, President
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Bernard M. Feldman Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
H. Michael Freet Senior Vice President, Treasurer,
11455 El Camino Real, Suite 200 Director
San Diego, CA 92130-2045
James W. Austin III Secretary
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Mary E. Cannon Assistant Secretary
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Harry M. Rady Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
John L. Hannum Executive Vice President, Surety
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Page 19 of 27 Pages
Insurance Company of the West
(a) Insurance Company of the West
Names and Addresses of Officers
and Directors as of July 7, 2003 Title
--------------------------------- -----
Ernest S. Rady Chairman of the Board,
11455 El Camino Real, Suite 200 President, Director
San Diego, CA 92130-2045
Bernard M. Feldman Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Richard S. King Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Arne D. Wagner Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Bruce N. Moore Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
James B. Rathbun Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Charles E. Scribner Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Fredericka Taubitz Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
H. Michael Freet Senior Vice President, Treasurer
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
John L. Hannum Executive Vice President
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Kevin M. Prior Senior Vice President
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Harry M. Rady Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Page 20 of 27 Pages
James W. Austin III Senior Vice President, Secretary and
11455 El Camino Real, Suite 200 General Counsel
San Diego, CA 92130-2045
Gene P. Irizarry Senior Vice President, Chief Operating Officer
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Dennis E. Osgood Senior Vice President
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Page 21 of 27 Pages
Explorer Insurance Company
(a) Explorer Insurance Company
Names and Addresses of Officers
and Directors as of July 7, 2003 Title
--------------------------------- -----
Ernest S. Rady Chairman of the Board, President, Director
11455 Camino Real, Suite 200
San Diego, CA 92130-2045
Bernard M. Feldman Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Frederick Bernard Tisovic Executive Vice President, Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
James W. Austin III Director, Assistant Secretary
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
H. Michael Freet Senior Vice President, Treasurer, Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
John L. Hannum Executive Vice President, Surety
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Mary E. Cannon Secretary
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Page 22 of 27 Pages
DHM Trust
(a) Ernest S. Rady Trustee
DHM TRUST
(a) DHM Trust
Names and Addresses of Officers
and Directors as of July 7, 2003 Title
--------------------------------- -----
Ernest S. Rady Trustee
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Item 3. Source and Amount of Funds and Other Consideration.
The consideration paid for the securities purchased was cash from
working capital.
Item 4. Purpose of Transaction.
Investment.
Item 5. Interest in Securities of the Issuer
This filing is for the cumulative share holdings of an affiliated group
as of the close of business on July 7, 2003. The various entities named in this
Schedule 13D directly or indirectly collectively owned, as of such date,
27,640,377 outstanding shares of Common Stock of the Issuer. As of July 7, 2003,
there are 138,419 options exercisable by members of the affiliated group within
60 days. On July 8, 2003, the Issuer closed an underwritten public offering, in
which 5,274,000 shares of Common Stock were sold to the public. Details
regarding this public offering can be found in Westcorp's Prospectus, dated July
1, 2003. As of the close of business on July 8, 2003, the various entities named
in this Schedule D directly or indirectly owned 60.95% of the outstanding shares
of Common Stock of the Issuer. Exhibit A attached hereto and incorporated by
this reference herein depicts the relationship among the various affiliated
companies in the "Rady" group. There is no formal agreement to vote or dispose
of the shares of the issuer in a particular manner. The dispositive and voting
power of each of the trusts and companies shown on Exhibit A is made independent
of each other, except to the extent that Mr. and Mrs. Rady may be trustees,
shareholders, officers and/or directors of the various companies and in that
respect are able to control the disposition and voting of the shares of the
Issuer owned by each such company.
Page 23 of 27 Pages
Item 5. (continued)
The following securities transactions occurred in the sixty (60) day
period preceding July 7, 2003:
No.
Date of Shares Purchaser Price
----------------- --------- -------------------------- --------
05/15/03 800 American Assets, Inc. $22.71
05/15/03 500 American Assets, Inc. $22.73
05/15/03 23,700 American Assets, Inc. $22.75
07/07/03 470,000 American Assets, Inc. $28.00
07/07/03 200,000 Ernest Rady Trust $28.00
07/07/03 10,000 Evelyn Shirley Rady Trust $28.00
07/07/03 20,000 DHM Trust $28.00
All shares purchased on July 7, 2003 were acquired pursuant to a share purchase
agreement at a price equal to the price offered to the public pursuant to a
concurrent underwritten public offering. Details regarding the public offering
can be found in Westcorp's Prospectus dated as of July 1, 2003.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
SEE DISCUSSION UNDER ITEM 5 ABOVE
Additionally, pursuant to the provisions of the Ernest S. Rady Trust,
the Evelyn S. Rady Trust and the DHM Trust, Ernest S. Rady, as trustee, has the
power to sell, buy, retain, invest and reinvest the trusts' assets, which
include the shares of the Issuer's Common Stock.
Item 7. Material to be Filed as Exhibits.
Exhibit "A", Holding Company Structure, Westcorp, July 8, 2003.
Page 24 of 27 Pages
SIGNATURE
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.
Ernest Rady
Dated: July 23, 2003 /s/ ERNEST RADY
--------------------------------------
Ernest Rady
Ernest S. Rady Trust
Dated: July 23, 2003 /s/ ERNEST S. RADY
--------------------------------------
Ernest S. Rady, Trustee
Evelyn Shirley Rady Trust
Dated: July 23, 2003 /s/ ERNEST S. RADY
--------------------------------------
Ernest S. Rady, Trustee
American Assets, Inc.
Dated: July 23, 2003 By: /s/ ERNEST S. RADY
----------------------------------
Ernest S. Rady, Chairman
Avrett Enterprises, Ltd.
Dated: July 23, 2003 By: /s/ ERNEST S. RADY
-----------------------------------
Ernest S. Rady, Vice President
Canpac Enterprises, Ltd.
Dated: July 23, 2003 By: /s/ ERNEST S. RADY
----------------------------------
Ernest S. Rady, President
Insurance Company of the West
Dated: July 23, 2003 By: /s/ ERNEST S. RADY
----------------------------------
Ernest S. Rady, Chairman
Page 25 of 27 Pages
Memrad Holdings, Ltd.
Dated: July 23, 2003 By: /s/ ERNEST S. RADY
-----------------------------------
Ernest S. Rady, President
Silpit Industries Co., Ltd.
Dated: July 23, 2003 By: /s/ ERNEST S. RADY
-----------------------------------
Ernest S. Rady, Chairman
Western Insurance Holdings, Inc.
Dated: July 23, 2003 By: /s/ ERNEST S. RADY
-----------------------------------
Ernest S. Rady, Chairman
Explorer Insurance Inc.
Dated: July 23, 2003 By: /s/ ERNEST S. RADY
-----------------------------------
Ernest S. Rady, Chairman
DHM Trust
Dated: July 23, 2003 By: /s/ ERNEST S. RADY
-----------------------------------
Ernest S. Rady, Trustee
Ernest S. Rady
Dated: July 23, 2003 By: /s/ ERNEST S. RADY
-----------------------------------
Ernest S. Rady
Evelyn Shirley Rady
Dated: July 23, 2003 By: /s/ EVELYN SHIRLEY RADY
-----------------------------------
Evelyn Shirley Rady
Page 26 of 27 Pages
EXHIBIT A
HOLDING COMPANY STRUCTURE
WESTCORP
AS OF JULY 8, 2003
----------------- -----------------
-----------ERNEST RADY TRUST------------ /------EVELYN RADY TRUST
/ --- ---- / / -----------------------------
/ / ----------------- / / / ----------------- /
/ / / / / / / /
/ / / 47.00% / 62.46%/ / /50.00% /
/ / / / / / / /
/ / ---------------------/ / / ------------------------ /
/ / MEMRAD HOLDINGS, LTD./ / / AVRETT ENTERPRISES, LTD.------ /
/ / ---------------------/ / / ------------------------ / /
/ / / / / /25.94% / / /
/ / / 11.69% / / / / /
/ / / / / / / 35.90% / /
/ / / / / / / / /
/ / / / / / -------------------------- 2.17% /
/ 10.58% / / / /---SILPIT INDUSTRIES CO. LTD. / /
/ / / / / -------------------------- / /
/ / / / / / 25.36% / /
/ / / / / ------------------------ / /
/ / /56.61% / /-----------CANPAC ENTERPRISES, LTD.---- /
/ / / / ------------------------ /
/ 9.56% / / / / /
/ / / /-----------------------------/------ 0.73% ------------- /
/ / / --------------------- / / / DHM TRUST /
/ / -------AMERICAN ASSETS, INC.--16.70%-------- / /------------ /
/ ---------------- / / / /
/ --------------------- / / / /
/ / / 86.89% / / / /
/ ------------------ -------------------------- / / / 0.62%
/ / / / / / /
/ /41.31% -------------------------- / /
/ / WESTERN INSURANCE HOLDINGS / /
/ / -------------------------- / /
/ / / / /
/ / / 100% / /
/ / / / /
/ / ----------------------------- / /
/ / ---------------------------------INSURANCE COMPANY OF THE WEST / /
/ / / ----------------------------- / /
/ / /8.39% / / /
/ / / / 100% / /
/ / / / / /
/ / / -------------------------- / /
/ / / ---------- 0.06% ----------------EXPLORER INSURANCE COMPANY / 1.01% /
/ / / / -------------------------- / /
/ / / / / /
/ ----------------- / /
--------------WESTCORP----------------------------------------------------------------------------
-----------------
/
/ 100%
/
-----------------
WESTERN FINANCIAL
BANK
-----------------
Page 27 of 27 Pages