SECURITIES AND EXCHANGE COMMISSION
----------------------------------
Washington, D.C. 20549
SCHEDULE 13D
============
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(Amendment No. 3)
=================
Point West Capital Corporation
------------------------------
(Name of Issuer)
Common Stock, $0.01 par value
------------------------------
(Title of Class of Securities)
730715 10 9
---------------------
(CUSIP Number)
Alan B. Perper,President
Point West Capital Corporation
1700 Montgomery Street, Suite 250
San Francisco, CA 94111
(415) 394-9467
----------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 9, 1999
-----------------
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Amended and Restated
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(b) 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 (the "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).
(Continued on following pages)
(Page 1 of 15 Pages)
<PAGE>
- ------------------------ ----------------------
CUSIP No. 730715 10 9 13D Page 2 of 15 Pages
- ------------------------ -----------------------
- ------------- ------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bradley N. Rotter
- ------------- ------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ------------- ------------------------------------------------------------------
3 SEC USE ONLY
- ------------- ------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
- ------------- ----------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 674,778
SHARES ---------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 83,000
REPORTING ---------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
674,778
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- ------------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
757,778
- ------------- ------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES*
[ ]
- ------------- ------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
22.8%
- ------------- ------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------- ------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
------------------------------------
<PAGE>
- ------------------------ ----------------------
CUSIP No. 730715 10 9 13D Page 3 of 15 pages
- ------------------------ -----------------------
- ------------- ------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Alan B. Perper
- ------------- ------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ------------- ------------------------------------------------------------------
3 SEC USE ONLY
- ------------- ------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
- ------------- ----------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 2,000
SHARES ---------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 340,665
REPORTING ---------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
2,000
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
257,665
- ------------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
342,665
- ------------- ------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES*
[ ]
- ------------- ------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
10.3%
- ------------- ------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------- ------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
------------------------------------
<PAGE>
- ------------------------ ----------------------
CUSIP No. 730715 10 9 13D Page 4 of 15 pages
- ------------------------ -----------------------
- ------------- ------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John Ward Rotter
- ------------- ------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ------------- ------------------------------------------------------------------
3 SEC USE ONLY
- ------------- ------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
- ------------- ----------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 230,081
SHARES ---------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 96,500
REPORTING ---------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
230,081
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
13,500
- ------------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
326,581
- ------------- ------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES*
[ ]
- ------------- ------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
9.8%
- ------------- ------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------- ------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
------------------------------------
<PAGE>
- ------------------------ ----------------------
CUSIP No. 730715 10 9 13D Page 5 of 15 pages
- ------------------------ -----------------------
- ------------- ------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Echelon Group of Companies, LLC
- ------------- ------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ------------- ------------------------------------------------------------------
3 SEC USE ONLY
- ------------- ------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
Delaware
- ------------- ----------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 83,000
REPORTING ---------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ------------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
83,000
- ------------- ------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES*
[ ]
- ------------- ------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
2.5%
- ------------- ------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
- ------------- ------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
------------------------------------
<PAGE>
- ------------------------ ----------------------
CUSIP No. 730715 10 9 13D Page 6 of 15 pages
- ------------------------ -----------------------
- ------------- ------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lodestone Capital Fund, LLC
- ------------- ------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ------------- ------------------------------------------------------------------
3 SEC USE ONLY
- ------------- ------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
Delaware
- ------------- ----------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 83,000
SHARES ---------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING ---------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
83,000
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ------------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
83,000
- ------------- ------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES*
[ ]
- ------------- ------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
2.5%
- ------------- ------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
- ------------- ------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
------------------------------------
<PAGE>
- ------------------------ ----------------------
CUSIP No. 730715 10 9 13D Page 7 of 15 pages
- ------------------------ -----------------------
- ------------- ------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lodestone Partners, LLC
- ------------- ------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ------------- ------------------------------------------------------------------
3 SEC USE ONLY
- ------------- ------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
Delaware
- ------------- ----------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 83,000
SHARES ---------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING ---------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
83,000
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ------------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
83,000
- ------------- ------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES*
[ ]
- ------------- ------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
2.5%
- ------------- ------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
- ------------- ------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
------------------------------------
<PAGE>
- ------------------------ ----------------------
CUSIP No. 730715 10 9 13D Page 8 of 15 pages
- ------------------------ -----------------------
- ------------- ------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Janet G. Raiche
- ------------- ------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ------------- ------------------------------------------------------------------
3 SEC USE ONLY
- ------------- ------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
- ------------- ----------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 257,665
REPORTING ---------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
257,665
- ------------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
257,665
- ------------- ------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES*
[ ]
- ------------- ------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
7.7%
- ------------- ------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------- ------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
------------------------------------
<PAGE>
- ------------------------ ----------------------
CUSIP No. 730715 10 9 13D Page 9 of 15 pages
- ------------------------ -----------------------
- ------------- ------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Perper/Raiche Revocable Trust
- ------------- ------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ------------- ------------------------------------------------------------------
3 SEC USE ONLY
- ------------- ------------------------------------------------------------------
4 SOURCE OF FUNDS*
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
California
- ------------- ----------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 257,665
SHARES ---------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING ---------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
257,665
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ------------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
257,665
- ------------- ------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES*
[ ]
- ------------- ------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
7.7%
- ------------- ------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
- ------------- ------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
------------------------------------
<PAGE>
- ------------------------- ------------------------
CUSIP No. 730715 10 9 SCHEDULE 13D Page 10 of 15 pages
- ------------------------- -------------------------
AMENDMENT NO. 3 to
--------------------
SCHEDULE 13D
-------------
This Amendment No 3. to Schedule 13D amends the Schedule 13D originally
filed on December 1, 1997, as amended and restated by Amendment No. 1 to
Schedule 13D filed on January 6, 1998 and by Amendment No. 2 to Schedule 13D
filed on February 16, 1999 (as amended and restated to the date hereof, the
"Schedule 13D"). This Amendment No. 3 is being filed to report shares of Common
Stock sold by the reporting persons and entities with which they may share
beneficial ownerhip. Capitalized terms used in this Amendment No. 3 and not
defined are used as defined in the Schedule 13D.
Item 5. Interest in Securities of the Issuer.
====== ====================================
Item 5 of the Schedule 13D is hereby amended and restated to read as
follows.
(a) Number of Shares Beneficially Owned by Persons Filing This
----------------------------------------------------------
Statement.
----------
Echelon is a member of Lodestone Capital, which is the record
holder of 83,000 shares of Common Stock. Echelon is also a
member of Lodestone Partners, which is in turn the manager of
Lodestone Capital. Lodestone Partners is managed by a Board of
Managers composed of John Ward Rotter and Michael Fitzsimmons
("Fitzsimmons"), who is the other member of Lodestone Partners.
Pursuant to the Lodestone Partners Operating Agreement between
Echelon and Fitzsimmons, Fitzsimmons has sole investment power
with respect to the investments of Lodestone Capital. The
Operating Agreement is, however, silent on the subject of voting
power with respect to securities held by Lodestone Capital.
Therefore, through John Ward Rotter, Echelon may be deemed to
share voting power with respect to securities held by Lodestone
Capital and, thus, to be the beneficial owner of the shares of
Common Stock held of record by Lodestone Capital. Echelon
disclaims beneficial ownership of the shares of Common Stock held
of record by Lodestone Capital, except to the extent of its
equity interest in Lodestone Capital.
Bradley N. Rotter, Alan B. Perper and John Ward Rotter constitute
all of the members of Echelon and, as such, may be deemed to be
the beneficial owners of the shares of Common Stock held of
record by Lodestone Capital. Alan B. Perper and John Ward Rotter
disclaim beneficial ownership of the shares of Common Stock held
of record by Lodestone Capital, except to the extent of their
respective equity interests in Echelon and Echelon's respective
equity interest in Lodestone Capital. Bradley N. Rotter
acknowledges beneficial ownership of approximately 50,337 shares
of the Common Stock held of record by Lodestone Capital, which
are attributable to the equity interest in Lodestone Capital of
the Bradley N. Rotter Self-Employed Pension Plan and Trust, but
otherwise disclaims beneficial ownership of the shares of Common
Stock held of record by Lodestone Capital, except to the extent
of his respective equity interest in Echelon and Echelon's
respective equity interest in Lodestone Capital. Bradley N.
Rotter is the record holder of 672,778 shares of Common Stock and
holds a stock option for 10,000 shares, of which 2,000 shares
vested on November 17, 1998. John Ward Rotter is the record
<PAGE>
- -------------------------- --------------------------
CUSIP No. 730715 10 9 Schedule 13D Page 11 of 15 pages
- -------------------------- --------------------------
holder of 228,081 shares of Common Stock and holds a stock option
for 10,000 shares, of which 2,000 shares vested on November 17,
1998. John Ward Rotter may also be deemed to be the beneficial
owner of shares of Common Stock subject to stock options that
were granted to his spouse: (a) one option for 20,000 shares, of
which 4,000 shares vested on February 14, 1997, 4,000 shares
vested on February 14, 1998 and 4,000 shares vested on February
14, 1999; and (b) another option for 7,500 shares, of which 1,500
shares vested on November 17, 1998, but disclaims beneficial
ownership of such shares.
Lodestone Partners is the manager of Lodestone Capital and, as
such, may be deemed to be the beneficial owner of the shares of
Common Stock held of record by Lodestone Capital. Lodestone
Partners, however, currently has only a nonparticipating (or
"carried") interest in Lodestone Capital and, therefore,
disclaims beneficial ownership of the shares of Common Stock
held of record by Lodestone Capital.
The Perper/Raiche Trust is the record holder of 257,665 shares of
Common Stock. Alan B. Perper and Janet G. Raiche, as trustees of
the Perper/Raiche Trust, may be deemed to be the beneficial
owners of the shares of Common Stock held of record by the
Perper/Raiche Trust, but each of them disclaims beneficial
ownership of such shares, except to the extent of their
respective beneficial interests under the Perper/Raiche Trust.
Alan B. Perper also holds a stock option for 10,000 shares, of
which 2,000 shares of common stock vested on November 17, 1998.
(b) Percent of Outstanding Common Stock Beneficially Owned by Each
--------------------------------------------------------------
Person Filing This Statement.
----------------------------
Based on the number of shares of Common Stock outstanding as of
March 22, 1999, Echelon, Lodestone Capital and Lodestone Partners
may each be deemed to beneficially own 2.5% and the Perper/Raiche
Trust and Janet G. Raiche may each be deemed to beneficially own
7.7%, of the outstanding Common Stock. Based on the number of
shares of common stock outstanding as of March 22, 1999, plus
their respective vested option shares, Bradley N. Rotter may be
deemed to beneficially own 22.8%, Alan B. Perper may be deemed to
beneficially own 10.3% and John Ward Rotter may be deemed to
beneficially own 9.8% of the outstanding Common Stock.
(c) Number of Shares of Common Stock as to Which Each of the
--------------------------------------------------------
Persons Filing This Statement Has:
-----------------------------------
(i) Sole Voting Power.
Bradley N.Rotter has sole power to vote or direct
the vote of the 672,778 shares of Common Stock
that that he holds of record and 2,000 shares
subject to his vested stock option.
John Ward Rotter has sole power to vote or direct
the vote of the 228,081 shares of Common Stock
that he holds of record and 2,000 shares subject
to his vested stock option.
Lodestone Capital has sole power to vote or direct
the vote of the 83,000 shares of Common Stock
that it holds of record.
As the manager of Lodestone Capital, Lodestone
Partners may be deemed to have sole power to vote
or direct the vote of the 83,000 shares of Common
Stock held of record by Lodestone Capital.
The Perper/Raiche Trust has sole power to vote or
direct the vote of the 257,665 shares of Common
Stock that it holds of record. Alan B. Perper has
sole power to vote or direct the vote of 2,000
shares subject to his vested stock option.
<PAGE>
- -------------------------- --------------------------
CUSIP No. 730715 10 9 Schedule 13D Page 12 of 15 pages
- -------------------------- --------------------------
(ii) Shared Voting Power.
Through John Ward Rotter, who is a member of
Echelon and a member of the Board of Managers of
Lodestone Partners, which is the manager of
Lodestone Capital, Echelon may be deemed to share
with Fitzsimmons, who is the other member of
Lodestone Partners and the other member of the
Board of Managers of Lodestone Partners, the
power to vote or direct the vote of the 83,000
shares of Common Stock held of record by
Lodestone Capital.
As the members of Echelon, Bradley N. Rotter,Alan
B. Perper and John Ward Rotter may be deemed to
share the power to vote or direct the vote of the
83,000 shares of Common Stock held of record by
Lodestone Capital. John Ward Rotter may also be
deemed to share with his spouse the power to vote
or direct the vote of 13,500 shares subject to
options held by his wife that are currently
vested.
Alan B. Perper and Janet G. Raiche, as trustees
of the Perper/Raiche Trust, share the power to
vote or direct the vote of the 257,665 shares of
Common Stock held of record by the Perper/Raiche
Trust.
(iii) Sole Dispositive Power.
Bradley N. Rotter has sole power to dispose of or
direct the disposition of the 672,778 shares of
Common Stock that he holds of record and 2,000
shares subject to his vested stock option.
John Ward Rotter has sole power to dispose of or
direct the disposition of the 228,081 shares of
Common Stock that he holds of record and 2,000
shares subject to his vested stock option.
Lodestone Capital has sole power to dispose of or
direct the disposition of the 83,000 shares of
Common Stock that it holds of record.
As the manager of Lodestone Capital, Lodestone
Partners may be deemed to have sole power to
dispose of or direct the disposition of the
83,000 shares of Common Stock held of record by
Lodestone Capital.
The Perper/Raiche Trust has sole power to dispose
of or direct the disposition of the 257,665 shares
of Common Stock that it holds of record. Alan B.
Perper has sole power to dispose of or direct the
disposition of 2,000 shares subject to his vested
stock option.
(iv) Shared Dispositive Power.
John Ward Rotter may be deemed to share with his
spouse the power to dispose of or direct the
disposition of 13,500 shares subject to options
held by his wife that are currently vested.
Alan B. Perper and Janet G. Raiche, as trustees
of the Perper/Raiche Trust, share the power to
dispose of or direct the disposition of the
257,665 shares of Common Stock held of record by
the Perper/Raiche Trust.
(d) Transactions in Common Stock by Persons Filing This Statement.
--------------------------------------------------------------
See Schedule 1 for information regarding sales effected by
reporting persons within the last 60 days.
<PAGE>
- ------------------------- -------------------------
CUSIP No. 730715 10 9 Schedule 13D Page 13 of 15 pages
- ------------------------- -------------------------
After reasonable inquiry and to the best of their knowledge
and belief, the undersigned certify that the information set forth in this
Amendment No. 3 to Schedule 13D is true, complete and correct.
THE ECHELON GROUP OF COMPANIES, LLC
March 24, 1999 By: /s/Bradley N. Rotter
-------------------------------
Bradley N. Rotter,
Managing Member
March 24, 1999 /s/Bradley N. Rotter
-----------------------------------
Bradley N. Rotter
March 24, 1999 /s/Alan B. Perper
------------------------------------
Alan B. Perper
March 24, 1999 /s/John Ward Rotter
------------------------------------
John Ward Rotter
March 24, 1999 By: /s/ Janet G. Raiche
---------------------------------
Janet G. Raiche
Trustee
LODESTONE CAPITAL FUND, LLC
By: LODESTONE PARTNERS, LLC
Manager
March 24, 1999 By: /s/Michael Fitzsimmons
-------------------------------
Michael Fitzsimmons
Manager
March 24, 1999 By: /s/John Ward Rotter
-------------------------------
John Ward Rotter
Manager
LODESTONE PARTNERS, LLC
March 24, 1999 By: /s/Michael Fitzsimmons
-------------------------------
Michael Fitzsimmons
Manager
March 24, 1999 By: /s/John Ward Rotter
-------------------------------
John Ward Rotter
Manager
<PAGE>
- ------------------------- -------------------------
CUSIP No. 730715 10 9 Schedule 13D Page 14 of 15 pages
- ------------------------- -------------------------
PERPER/RAICHE REVOCABLE TRUST
March 24, 1999 By: /s/ Alan B. Perper
---------------------------------
Alan B. Perper
Trustee
March 24, 1999 By: /s/ Janet G. Raiche
---------------------------------
Janet G. Raiche
Trustee
<PAGE>
- ------------------------- -------------------------
CUSIP No. 730715 10 9 Schedule 13D Page 15 of 15 pages
- ------------------------- -------------------------
Schedule 1 to Amendment No. 3 to Schedule 13D
Summary of Transactions for March 1999
All of the following sales were effected in brokerage transactions on the Nasdaq
Stock Market.
Number of Average
Date Shares Sold Price
---- ------------ --------
Bradley N. Rotter
- -----------------
03/09/99 5,000 16.0000
03/10/99 8,000 14.7969
03/11/99 34,900 16.0206
03/12/99 40,000 15.7969
03/15/99 110,100 16.7018
03/16/99 2,800 15.5000
The Perper/ Raiche
- ------------------
Revocable Trust
- --------------
03/09/99 45,000 15.7614
03/12/99 5,000 16.0000
03/15/99 10,000 18.0000
John Ward Rotter
- ----------------
03/09/99 5,000 16.4250
03/11/99 20,000 15.8655
03/12/99 24,000 15.7214
03/15/99 80,000 16.3129
03/16/99 40,000 17.5313
Lodestone Capital Fund, LLC
- ----------------------------
03/09/99 27,600 15.7883
03/10/99 22,700 14.7897
03/11/99 27,800 15.6169
03/12/99 25,500 15.7269
03/15/99 20,000 17.3984
