UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 7, 1999
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BROOKDALE LIVING COMMUNITIES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-22253 36-4103821
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(State or other jurisdiction of (Commission File (I.R.S. Employer
incorporation) Number) Identification Number)
77 West Wacker Drive, Suite 4400, Chicago, Illinois 60601
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (312) 977-3700
NOT APPLICABLE
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
(a) December 7, 1999 Press Release: On December 7, 1999, Brookdale
Living Communities, Inc. issued the Press Release attached hereto as Exhibit
99.1 and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits:
Exhibit
Number Description
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99.1 Press Release of Brookdale Living Communities, Inc.
dated December 7, 1999.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BROOKDALE LIVING COMMUNITIES, INC.
Registrant
Dated: December 8, 1999 By: /s/ Robert J. Rudnik
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Robert J. Rudnik
Executive Vice President/
General Counsel and Secretary
[LETTERHEAD OF BROOKDALE LIVING COMMUNITIES, INC.]
FOR FURTHER INFORMATION:
AT THE COMPANY: AT EDELMAN PUBLIC RELATIONS:
Mark J. Schulte Kenneth G. Trantowski
President and Chief Executive Vice President &
Executive Officer General Manager
(312) 977-3700 (312) 240-3000
FOR IMMEDIATE RELEASE
TUESDAY, DECEMBER 7, 1999
BROOKDALE LIVING COMMUNITIES CFO RESIGNS
R. STANLEY YOUNG, 21 YEAR KPMG VETERAN, NAMED SUCCESSOR
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Chicago, December 7, 1999 - Brookdale Living Communities, Inc., (NASDAQ: BLCI),
a national provider of senior and assisted living services to the elderly, today
announced the resignation of Darryl W. Copeland, Jr. from his positions as
Executive Vice President, Chief Financial Officer and Director of Brookdale. Mr.
Copeland has resigned to pursue other business interests, but he will continue
to serve the company in a consulting capacity on an interim basis.
The Company also announced the appointment of R. Stanley Young to the positions
of Executive Vice President, Chief Financial Officer and Treasurer. Mr. Young
joined Brookdale in August of 1998 as Senior Vice President-Finance and
Treasurer after a 21-year career, most recently as partner, at the assurance,
tax and consulting firm of KPMG LLP.
"Stan Young's assumption of the Chief Financial Officer role provides us with a
seamless transition," said Mark J. Schulte, President and Chief Executive
Officer of Brookdale. "For the past year and a half, Stan has been immersed not
only in Brookdale's financial operations, but has also overseen such key areas
as management information systems and financial reporting."
Schulte continued; "Darryl Copeland's talents have been an asset to Brookdale,
and under the terms of the consulting agreement, he will continue to have
significant involvement with the Company."
Robert J. Rudnik, the Company's Executive Vice President and General Counsel,
was elected by Brookdale's Board as a Director of the Company to fill the
vacancy created by Mr. Copeland's resignation. Mr. Rudnik has been Brookdale's
general counsel since formation of the Company.
<PAGE>
The Company also announced that it purchased Mr. Copeland's option to purchase
100,000 shares of Brookdale stock from an affiliate of Brookdale for $1,250,000,
and Brookdale exercised the option to purchase such shares for an aggregate
purchase price of $1,000. Brookdale also purchased Mr. Copeland's option to
purchase 25,000 shares of Brookdale stock from an affiliate of Brookdale for
$75,000, and Brookdale exercised the option to purchase such shares for an
aggregate purchase price of $272,722. The repurchased shares acquired at an
average price of $12.79 per share, will be held in Brookdale's treasury or
cancelled and reclassified as authorized and unissued shares.
Brookdale Living Communities, Inc. is a provider of senior and assisted living
services to the elderly, with 22 facilities in 14 states containing an aggregate
of approximately 4,813 units in up-scale urban and suburban communities.
This news release contains certain forward-looking statements. When used in this
news release, the words "believes," "expects," "anticipates," "estimates" and
similar words or expressions are generally intended to identify forward-looking
statements. These forward-looking statements involve risks and uncertainties,
such as the risks detailed in the Company's filings with the Securities and
Exchange Commission.
CONTACT: Mark J. Schulte, President and Chief Executive Officer, Brookdale
Living Communities, Inc., 312-977-3700, or Kenneth G. Trantowski, Executive Vice
President and General Manager, Edelman, 312-240-3000.
