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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
Vanguard Airlines, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
92201B109
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(CUSIP Number)
J.F. Shea Company, Inc. c/o Edmund H. Shea, Jr.
655 Brea Canyon Road, Walnut, California 91789
(909) 594-9500
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
December 15, 2000
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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 the disclosures provided in a prior cover page.
The information required in 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).
<PAGE>
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CUSIP No. 92201B109 13D Page 2 of Pages 13
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1) Names of Reporting Persons, I.R.S. Identification Nos. of Reporting
Persons (entities only)
J.F. Shea Company, Inc.
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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)
WC
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5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e)
[ ]
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6) Citizenship or Place of Organization
California
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Number of Shares 7) Sole Voting Power - 14,297,426
----------------------------------------------------
Beneficially Owned 8) Shared Voting Power - 0 shares
----------------------------------------------------
by Each Reporting 9) Sole Dispositive Power - 14,297,426
----------------------------------------------------
Person with: 10) Shared Dispositive Power - 0 shares
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11) Aggregate Amount Beneficially Owned by Each Reporting Person
14,297,426 shares
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11)
47.11%
--------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
CO
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2
<PAGE>
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CUSIP No. 92201B109 13D Page 3 of Pages 13
--------------------------------------------------------------------------------
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1) Names of Reporting Persons
Edmund H. Shea, Jr.
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3) SEC Use Only
--------------------------------------------------------------------------------
4) Source of Funds (See Instructions)
Not Applicable
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5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e)
[ ]
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6) Citizenship or Place of Organization
United States
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Number of Shares 7) Sole Voting Power - 5,000
----------------------------------------------------
Beneficially Owned 8) Shared Voting Power - 14,297,426 shares
----------------------------------------------------
by Each Reporting 9) Sole Dispositive Power - 5,000
----------------------------------------------------
Person with: 10) Shared Dispositive Power - 14,297,426 shares
--------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
14,302,426 shares
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11)
47.13%
--------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
IN
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3
<PAGE>
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CUSIP No. 92201B109 13D Page 4 of Pages 13
--------------------------------------------------------------------------------
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1) Names of Reporting Persons
John F. Shea
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3) SEC Use Only
--------------------------------------------------------------------------------
4) Source of Funds (See Instructions)
Not Applicable
--------------------------------------------------------------------------------
5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e)
[ ]
--------------------------------------------------------------------------------
6) Citizenship or Place of Organization
United States
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Number of Shares 7) Sole Voting Power - None
----------------------------------------------------
Beneficially Owned 8) Shared Voting Power - 14,297,426 shares
----------------------------------------------------
by Each Reporting 9) Sole Dispositive Power - None
----------------------------------------------------
Person with: 10) Shared Dispositive Power - 14,297,426 shares
--------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
14,297,426 shares
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11)
47.11%
--------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
IN
--------------------------------------------------------------------------------
4
<PAGE>
--------------------------------------------------------------------------------
CUSIP No. 92201B109 13D Page 5 of Pages 13
--------------------------------------------------------------------------------
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1) Names of Reporting Persons
Peter O. Shea, Jr.
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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
--------------------------------------------------------------------------------
4) Source of Funds (See Instructions)
Not Applicable
--------------------------------------------------------------------------------
5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e)
[ ]
--------------------------------------------------------------------------------
6) Citizenship or Place of Organization
United States
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Number of Shares 7) Sole Voting Power - None
----------------------------------------------------
Beneficially Owned 8) Shared Voting Power - 14,297,426 shares
----------------------------------------------------
by Each Reporting 9) Sole Dispositive Power - None
----------------------------------------------------
Person with: 10) Shared Dispositive Power - 14,297,426 shares
--------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
14,297,426 shares
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11)
47.11%
--------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
IN
--------------------------------------------------------------------------------
5
<PAGE>
--------------------------------------------------------------------------------
CUSIP No. 92201B109 13D Page 6 of Pages 13
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1) Names of Reporting Persons
James G. Shontere
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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)
Not Applicable
--------------------------------------------------------------------------------
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
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Number of Shares 7) Sole Voting Power - None
----------------------------------------------------
Beneficially Owned 8) Shared Voting Power - 14,297,426 shares
----------------------------------------------------
by Each Reporting 9) Sole Dispositive Power - None
----------------------------------------------------
Person with: 10) Shared Dispositive Power - 14,297,426 shares
--------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
14,297,426 shares
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11)
47.11%
--------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
IN
--------------------------------------------------------------------------------
6
<PAGE>
ITEM 1 SECURITY AND ISSUER.
This Schedule 13D relates to the Common Stock of Vanguard Airlines,
Inc., a Delaware corporation (the "Issuer"), which has its principal
executive offices at 533 Mexico City Avenue, Kansas City, Missouri
64153.
ITEM 2 IDENTITY AND BACKGROUND.
(a), (b) and (c) This Schedule 13D is filed on behalf of J.F. Shea Com-
pany, Inc. ("JFSCI"), John F. Shea, Edmund H. Shea, Jr. and Peter O.
Shea and James G. Shontere (collectively, the "Reporting Persons").
JFSCI is a Nevada corporation whose principal business is construction,
land development and venture capital investment. Its business address
is 655 Brea Canyon Road, Walnut, California 91789. The names of the
executive officers and directors of JFSCI, their addresses, citizenship
and principal occupations are as follows:
<TABLE>
<CAPTION>
PRINCIPAL
NAME AND OCCUPATION OR
OFFICE HELD BUSINESS ADDRESS CITIZENSHIP EMPLOYMENT
<S> <C> <C> <C>
John F. Shea 655 Brea Canyon Rd. USA President of JFSCI
President and Director Walnut, CA 91789
Edmund H. Shea, Jr. 655 Brea Canyon Rd. USA Vice President of
Vice President and Walnut, CA 91789 JFSCI
Director
Peter O. Shea 655 Brea Canyon Rd. USA Vice President of
Vice President and Walnut, CA 91789 JFSCI
Director
James G. Shontere 655 Brea Canyon Rd. USA Secretary/Treasurer
Secretary/Treasurer Walnut, CA 91789 of JFSCI
and Director
</TABLE>
(d) To the best knowledge of the Reporting Persons, during the
past five years, none of the entities or individuals
identified in this Item 2 have been convicted in a criminal
proceeding (excluding traffic violations or similar
misdemeanors).
(e) To the best knowledge of the Reporting Persons, during the
past five years, none of the entities or individuals
identified in this Item 2 has been a party to a civil
proceeding of a judicial or administrative body of competent
jurisdiction and therefore was not and is not 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.
7
<PAGE>
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
On December 15, 2000, JFSCI paid the Issuer $3,750,000 in aggregate for
the purchase of 50,000 Series B Convertible Preferred Stock and
warrants to purchase 3,208,125 Common Stock. The $3,750,000 paid by
J.F. Shea Company, Inc. to Issuer consisted of 1)cancellation of Issuer
debt to J.F. Shea Company, Inc. in the amount of $1,750,000, and
2) $2,000,000 from working capital of J.F. Shea Company, Inc.
ITEM 4. PURPOSE OF TRANSACTION.
The Reporting Persons purchased the securities to increase JFSCI's
interests in the Issuer. Depending upon market conditions and other
factors, the Reporting Persons may acquire or dispose of additional
securities of the Issuer, in the open market, in privately negotiated
transactions or otherwise.
The Reporting Persons are regularly engaged in the business of
investing in publicly held and private companies. In connection with
their investments, the Reporting persons analyze the operations,
capital structure and markets of the companies in which they invest,
including the Issuer. As a result of these analytical activities, one
or more of the Reporting Persons may suggest or take a position with
respect to potential changes in the strategic direction, operations,
management or capital structure of such companies as a means of
enhancing shareholder value. Such communications may take place with
the Issuer's management, members of the Board of Directors, other
shareholders, security analysts or others. In particular, the Reporting
Persons believe that it would be desirable for the Issuer to explore
various strategic, operating and/or financial relationships with
Frontier Airlines or others, including possible business combinations.
Although the Reporting Persons reserve the right to develop plans or
proposals in the future with respect to the following items, except as
set forth above at the present time they have no plans or proposals
that relate to or would result in any of the following:
(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;
8
<PAGE>
(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 in (a) through
(i) above.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
According to information furnished by the Issuer in its most recent
Form 10 Q, there were 19,469,144 shares of Common Stock issued and
outstanding as of September 30, 2000. Based on such information after
taking into account the transactions described herein, the Reporting
Persons report the information set forth below.
(a), (b) The Reporting Persons' power to vote or dispose of the
shares of Common Stock reported as being beneficially owned by
him or it was as follows:
<TABLE>
<CAPTION>
Voting Disposition
--------------------------------------------------------------------------------------------------------------
COMMON STOCK Sole Shared Sole Shared
------------ ---- ------ ---- ------
<S> <C> <C> <C> <C>
Edmund H. Shea, Jr. 5,000 14,297,426 5,000 14,297,426*
JFSCI 14,297,426 -0- 14,297,426 -0-
Peter O. Shea -0- 14,297,426 -0- 14,297,426**
John F. Shea -0- 14,297,426 -0- 14,297,426**
James G. Shontere -0- 14,297,426 -0- 14,297,426**
* Represents approximately 47.13% of the sum of the Common Stock
outstanding as of the Issuer's most recent 10 Q filing, as calculated
in accordance with Rule 13d-3(d)(1)(i) under the Securities Exchange
Act of 1934, as amended.
</TABLE>
Mr. Edmund Shea also shares voting and dispositive power with respect
to 15,000 shares of the Issuer held by Siam with the other partners of
Siam. Siam is a California limited
9
<PAGE>
partnership with its principal business and principal office at 655
Brea Canyon Road, Walnut, California 91789. The General Partner of Siam
is E&M RP Trust, for which Mr. Edmund Shea is the trustee. Siam's
principal business consists of investment activities. During the last
five years, neither Siam nor any of its partners has been convicted in
a criminal proceeding (excluding traffic violations or similar
misdemeanors). During the last five years, neither Siam nor any of its
partners has been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and therefore was not and
is not 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 as a result of any such proceeding.
** Mr. Peter Shea, Mr. John Shea and Mr. John Shontere may be deemed to
be the beneficial owners of the 14,297,426 shares of Common Stock owned
by JFSCI by virtue of their stock ownership in JFSCI and their
positions as directors and executive officers of JFSCI.
Because voting and investment decisions with respect to the securities
held by JFSCI may be made by or in conjunction with the other Reporting
Persons, the Reporting Persons may be deemed to be members in a group.
All Reporting Persons, with the exception of JFSCI, disclaim membership
in a group and disclaim beneficial ownership in the 14,297,426 shares
of Common Stock owned by JFSCI.
(c) The Reporting Persons did not effect any transactions other
than those set forth in Items 3 and 4 above.
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
JFSCI holds 151,200 shares of the Issuer's Series A Preferred Stock,
immediately convertible into 1,292,760 shares of Common Stock, which
was purchased pursuant to the Series A Preferred Stock Purchase
Agreement dated March 20, 1998, by and among the Issuer, JFSCI and
other purchasers. JFSCI holds 50,000 shares of the Issuer's Series B
Preferred Stock, immediately convertible into 3,205,128 shares of
Common Stock, which was purchased pursuant to the Unit Purchase
Agreement dated December 15, 2000, by and among the Issuer, JFSCI and
other purchasers. JFSCI also holds warrants to purchase 6,377,453
shares of Common Stock, immediately exercisable, of which warrants to
purchase 3,205,128 shares of Common Stock were acquired in the Series B
Converible Preferred Stock transaction referred to above.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
The following material is filed as an Exhibit to this Schedule 13D:
10
<PAGE>
1. Joint Filing Agreement, dated December 15, 2000, between
Edmund H. Shea, Jr., Peter O. Shea,
John F. Shea, James G. Shontere and J.F. Shea Company, Inc.
2. Unit Purchase Agreement, dated December 15, 2000 between the
Issuer, J.F. Shea Company, Inc. and the Hambrecht 1980
Revocable Trust, incorporated by reference to Amendment No. 2
to the Schedule 13D of the 1980 Hambrecht Revocable Trust,
reporting acquisition of the Issuer's Common Stock.
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.
11
<PAGE>
Date: December ___, 2000.
J.F. SHEA COMPANY, INC.
By:
----------------------------------------
Name: Edmund H. Shea, Jr.
Title: Vice President
----------------------------------------
Edmund H. Shea, Jr.
----------------------------------------
Peter O. Shea
----------------------------------------
John F. Shea
----------------------------------------
James G. Shontere
12
<PAGE>
EXHIBIT A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to this Amendment to Schedule 13D, and as an agreement
to be incorporated by reference on all subsequent amendments to Schedule 13D, to
evidence the agreement of the below-named parties, in accordance with rules pro-
mulgated pursuant to the Securities Exchange Act of 1934, to file this Amendment
and all subsequent amendments to Schedule 13D jointly on behalf of each of such
parties.
Dated: December ___, 2000 J.F. SHEA COMPANY, INC.
By: /s/ EDMUND H. SHEA, JR.
----------------------------------
Name: Edmund H. Shea, Jr.
Title: Vice President
/s/ EDMUND H. SHEA, JR.
---------------------------
Edmund H. Shea, Jr.
/s/ PETER O. SHEA
----------------------------------
Peter O. Shea
/s/ JOHN F. SHEA
----------------------------------
John F. Shea
/s/ JAMES G. SHONTERE
----------------------------------
James G. Shontere
13
