U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935
or Section 30(f) of the Investment Company Act of 1940
/ / Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Walker, Jeffrey C.
(Last) (First) (Middle)
c/o Chase Capital Partners
380 Madison Avenue, 12th Floor
(Street)
New York NY 10017
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Guitar Center, Inc. ("GTRC")
3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
4. Statement for Month/Year
June 1999
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
/X/ Director /X/ 10% Owner
/ / Officer (give title below) / / Other (specify below)
7. Individual or Joint/Group Reporting (Check Applicable Line)
/X/ Form filed by One Reporting Person
/ / Form filed by More than One Reporting Person
* If the form is filed by more than one reporting person, see instruction
4(b)(v).
<TABLE>
<CAPTION>
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
5. Amount
of Secu-
rities
4. Securities Acquired (A) Bene- 6. Ownership
2. Trans- 3. Trans- or Disposed of (D) ficially Form:
action action (Instr. 3, 4 and 5) Owned Direct 7. Nature of
Date Code ----------------------------- at End (D) or Indirect
(Month/ (Instr. 8) (A) of Month Indirect Beneficial
1. Title of Security Day/ ------------- Amount or Price (Instr. (I) Ownership
(Instr. 3) Year) Code V (D) 3 and 4) (Instr. 4) (Instr. 4)
- ----------------------------- ---------- ------ ----- ------------ --- ---------- ----------- ------------- ---------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 3/19/97 C 3,298,680.40 A 0 4,589,164 I See Note 2
(see Note 1 below) below
Common Stock 6/15/99 25,000 A 9.8125 5,108,074 I See Note 2
below
Common Stock 6/15/99 474,000 A 9.6250 5,108,074 I See Note 2
below
Common Stock 6/15/99 6,000 A 9.7500 5,108,074 I See Note 2
below
Common Stock 6/16/99 13,910 A 9.6230 5,108,074 I See Note 2
below
</TABLE>
<TABLE>
<CAPTION>
Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
2. Conver- 5. Number of Deriv- 6. Date Exercisable
sion or 3. Trans- ative Securities and Expiration Date
Exercise action 4. Transac- Acquired (A) or (Month/Day/Year)
Price of Date tion Code Disposed of (D) ----------------------
Deriv- (Month/ (Instr. 8) (Instr. 3, 4, and 5) Date
1. Title of Derivative Security ative Day/ ------------- -------------------------- Exercis- Expiration
(Instr. 3) Security Year) Code V (A) (D) able Date
- ---------------------------------------- ----------- ---------- ------ ----- ------------ ------------ ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
8% Junior Preferred Stock $6.67 3/19/97 C 494,802 N/A N/A
(see Note 1 below)
Stock Option (obligation to sell) $4.33 12/30/96 S 207,899 Immed. 12/30/01
(see Note 3 below)
Stock Option (right to purchase) $28.5625 5/6/98 A 1,667 5/6/99 5/6/08
Stock Option (right to purchase) $28.5625 5/6/98 A 1,666 5/6/00 5/6/08
Stock Option (right to purchase) $28.5625 5/6/98 A 1,668 5/6/01 5/6/08
<CAPTION>
9. Number of 10. Ownership
Derivative Form of
Securities Derivative
7. Title and Amount of Underlying Benefi- Security:
Securities (Instr. 3 and 4) cially Direct 11. Nature of
---------------------------------------- 8. Price of Owned at (D) or Indirect
Amount or Derivative End of Indirect Beneficial
1. Title of Derivative Title Number of Security Month (I) Ownership
Security (Instr. 3) Shares (Instr. 5) (Instr. 4) (Instr. 4) (Instr. 4)
- --------------------------- --------------------------- ----------- ------------- ------------- -------------- ---------------
<S> <C> <C> <C> <C> <C> <C>
8% Junior Preferred Stock Common Stock 3,298,680.40 0 I See explanatory
(see Note 1 below) Note 2 below
Stock Option (obligation Common Stock 207,899 0 I See explanatory
to sell) Note 2 below
(see Note 3 below)
Stock Option (rigt to Common Stock 1,667 0 D See explanatory
purchase) Note 4 below
Stock Option (rigt to Common Stock 1,667 0 D See explanatory
purchase) Note 4 below
Stock Option (rigt to Common Stock 1,666 0 D See explanatory
purchase) Note 4 below
</TABLE>
/s/ Jeffrey C. Walker July 9, 1999
- --------------------------------------- --------------------------
**Signature of Reporting Person Date
Explanation of Responses:
Note 1. The amount of securities listed in the first row of Table I reflect the
beneficial ownership of the Issuer's securities owned by Chase Venture Capital
Associates, L.P. ("CVCA") and gives effect to the mandatory conversion of all
outstanding shares of Guitar Center, Inc. (the "Company") 8% Junior Preferred
Stock, $.01 par value per share ("Preferred Stock"), in connection with an
initial public offering and in accordance with the terms of the Company's
Certificate of Incorporation. Pursuant to such mandatory conversion, each share
of Preferred Stock was converted to 6.667 shares of the Issuer's Common Stock,
par value $.01 per share.
Note 2. The amounts shown in (x) rows 1 of Table I and Table II represents the
beneficial ownership of the Issuer's equity securities by Chase Venture Capital
Associates, L.P. ("CVCA") and (y) columns 2 through 4 of Table I represents the
beneficial ownership of the Issuer's equity securities by Chase Equity
Associates, L.P. ("CEA"), a portion of such beneficial ownership may be deemed
attributable to the reporting person because the reporting person is a general
partner of Chase Capital Partners ("CCP"), which is the sole general partner of
CVCA and CEA. The actual pro rata portion of such beneficial ownership that may
be deemed to be attributable to the reporting person is not readily determinable
because it is subject to several variables, including CVCA's and CEA's internal
rate of return and vesting of interests.
Note 3. CVCA has granted to certain members of the Issuer's management an option
to purchase Common Stock.
Note 4. The Stock Options were granted to the Reporting Person as director
compensation, who is obligated to transfer any shares issued under the Stock
Options to CVCA.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
