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- -------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION -----------------------------
FORM 4 WASHINGTON, D.C. 20549 OMB APPROVAL
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/ / CHECK THIS BOX IF NO STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB NUMBER: 3235-0287
LONGER SUBJECT TO EXPIRES: SEPTEMBER 30, 1998
SECTION 16. FORM 4 OR Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, ESTIMATED AVERAGE BURDEN
FORM 5 OBLIGATIONS MAY Section 17(a) of the Public Utility Holding Company Act of 1935 or HOURS PER RESPONSE .... 0.5
CONTINUE. SEE Section 30(f) of the Investment Company Act of 1940 -----------------------------
INSTRUCTION 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person* 2. Issuer Name AND Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
to Issuer (Check all applicable)
X Director 10% Owner
Perlmutter, Norman Horizon Group Properties, Inc. (HGPI) ---- ----
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(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- title ---- (specify
Number of Reporting Month/Year below) below
Person (Voluntary) ----------------- ------------------
c/o Heitman Financial
180 N. LaSalle Street 6/98
- -------------------------------------------- --------------------- 7. Individual or Joint/Group Filing
(Street) 5. If Amendment, X (Check Applicable Line)
Date of Original ---Form filed by One Reporting Person
(Month/Year) ---Form filed by More than One
Chicago Illinois 60601 Reporting Person
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(City) (State) (Zip) TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 8) Owned at Direct Bene-
(Month/ End of (D) or ficial
Day/ ------------------------------------------- Month Indirect Owner-
Year) (A) or (I) ship
Code V Amount (D) Price (Instr. 3 (Instr. 4) (Instr. 4)
and 4)
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Common Stock, par value
$0.01 per share 6/15/98 J(1) 56 A (1) D
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6/15/98 J(1) 53 A (1) I By Self
as trustee
for chil-
dren
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6/15/98 J(1) 362 A (1) I By Spouse
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6/15/98 J(2) 362 D (2) 109 I By Spouse
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, SEE Instruction 4(b)(v). SEC 1474 (7-97)
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM
DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER.
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FORM 4 (CONTINUED) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action tion Code ative Securities Ac- cisable and Ex-
Exercise Date (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ posed of (D) (Month/Day/
Deriv- Day/ (Instr. 3, 4, and 5) Year)
ative Year)
Security
--------------------
Date Expira-
-------------------------------------- Exer- tion
cisable Date
Code V (A) (D)
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Horizon Group Properties, Inc.
Stock Option (3) 6/15/98 A 10,000 (4) 6/15/08
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Horizon Group Properties, L.P.
Common Unit (5) 6/15/98 J(6) 46,117 6/15/98 none
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7. Title and Amount of Under- 8. Price 9. Number 10. Owner- 11. Nature
lying Securities of of Deriv- ship of In-
(Instr. 3 and 4) Deriv- ative Form direct
ative Securi- of De- Bene-
Secur- ties rivative ficial
ity Bene- Secu- Own-
(Instr. ficially rity: ership
5) Owned Direct (Instr. 4)
at End (D) or
Amount or of Indi-
Title Number of Month rect (I)
Shares (Instr. 4) (Instr. 4)
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Common Stock 10,000 N/A 10,000 D
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Common Stock 46,117 (6) 46,117 I By Spouse
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Explanation of Responses: SEE PAGE 3 OF 3 ATTACHED
/s/ Norman Perlmutter July 10, 1998
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**Intentional misstatements or omissions of facts constitute **Signature of Reporting Person Date
Federal Criminal Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, SEE Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
Page 2
SEC 1474 (7-97)
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FORM 4 - CONTINUED
1. NAME AND ADDRESS OF REPORTING PERSON: Norman Perlmutter
2. ISSUER NAME AND TICKER OR TRADING SYMBOL: Horizon Group Properties,
Inc./HGPI
3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY):
4. STATEMENT FOR THE MON/YEAR: June/1998
**************************
(1) On June 15, 1998, Horizon Group, Inc. ("Horizon") merged into Sky Merger
Corp., a wholly owned subsidiary, and immediately thereafter, Prime
Retail, Inc. ("Prime") merged into Sky Merger Corp. (the "Merger").
Immediately following the Merger, Prime declared a distribution of
shares of common stock of Horizon Group Properties, Inc. ("HGP") to the
record holders of Prime common stock such that one share of HGP common
stock would be distributed for every 20 shares of Prime common stock.
(2) The right to receive the distribution of shares of HGP common stock
passed with the shares of Prime common stock sold by Mr. Perlmutter's
spouse on 6/18/98.
(3) The Exercise Price is the average price of the HGP common stock for the
fifteen consecutive trading days beginning on June 15, 1998.
(4) 3,300, 3,100 and 3,600 Options are exercisable on 6/15/99, 6/15/00 and
6/15/01, respectively.
(5) Common units of Horizon Group Properties, L.P. are exchangeable on a one
for one basis into shares of common stock of HGP.
(6) On June 15, 1998, Horizon Group, L.P. merged into Prime Retail, L.P.
(the "Partnership Merger"). Immediately following the Partnership
Merger, Prime Retail, L.P. declared a distribution of common units of
Horizon Group Properties, L.P. to the record holders of common units of
Prime Retail, L.P. such that one common unit of Horizon Group
Properties, L.P. would be distributed in respect of every 20 common
units of Prime Retail, L.P.
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