SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(AMENDMENT NO. 7)*
Under the Securities Exchange Act of 1934
Urstadt Biddle Properties Inc.
------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
-------------------------------------------
(Title of Class of Securities)
404265 10 0
-------------------------------------------
(CUSIP Number)
Charles J. Urstadt
Chairman and Chief Executive Officer
Urstadt Biddle Properties Inc.
321 Railroad Avenue
Greenwich, Connecticut 06830
(203) 863-8200
---------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 14, 1998
----------------------------------------------
(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 Rule 13d-1(e), 13(d)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 disclosure
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).
Page 1 of 11 Pages
<PAGE>
CUSIP NO. 404265 10 0
- --------------------------------------------------------------------------------
1 Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
Charles J. Urstadt
- --------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. [ ]
b. [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds
N/A
- --------------------------------------------------------------------------------
5 Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
United States of America
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 15,800
Shares ----------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned by 925,000
Each ----------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person With 15,800
----------------------------------------------------------
10 Shared Dispositive Power
925,000
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,502,800
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
25.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person
IN
- --------------------------------------------------------------------------------
Page 2 of 11 Pages
<PAGE>
CUSIP NO. 404265 10 0
- --------------------------------------------------------------------------------
1 Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
Urstadt Property Company, Inc.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. [ ]
b. [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds
N/A
- --------------------------------------------------------------------------------
5 Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 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 25,000
Each ----------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person With 0
----------------------------------------------------------
10 Shared Dispositive Power
25,000
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
25,000
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
0.5%
- --------------------------------------------------------------------------------
14 Type of Reporting Person
CO
- --------------------------------------------------------------------------------
Page 3 of 11 Pages
<PAGE>
CUSIP NO. 404265 10 0
- --------------------------------------------------------------------------------
1 Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
Elinor F. Urstadt
- --------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. [ ]
b. [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds
N/A
- --------------------------------------------------------------------------------
5 Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
United States of America
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 50,000
Shares ----------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned by 0
Each ----------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person With 50,000
----------------------------------------------------------
10 Shared Dispositive Power
0
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
50,000
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
0.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person
IN
- --------------------------------------------------------------------------------
Page 4 of 11 Pages
<PAGE>
CUSIP NO. 404265 10 0
- --------------------------------------------------------------------------------
1 Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
Catherine Urstadt Biddle Irrevocable Trust,
by Charles J. Urstadt as Sole Trustee
- --------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. [ ]
b. [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds
N/A
- --------------------------------------------------------------------------------
5 Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
United States of America
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned by 450,000
Each ----------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person With 0
----------------------------------------------------------
10 Shared Dispositive Power
450,000
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
450,000
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
8.2%
- --------------------------------------------------------------------------------
14 Type of Reporting Person
OO
- --------------------------------------------------------------------------------
Page 5 of 11 Pages
<PAGE>
CUSIP NO. 404265 10 0
- --------------------------------------------------------------------------------
1 Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
Charles D.Urstadt Irrevocable Trust,
by Charles J. Urstadt as Sole Trustee
- --------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. [ ]
b. [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds
N/A
- --------------------------------------------------------------------------------
5 Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
United States of America
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned by 450,000
Each ----------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person With 0
----------------------------------------------------------
10 Shared Dispositive Power
450,000
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
450,000
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
8.2%
- --------------------------------------------------------------------------------
14 Type of Reporting Person
OO
- --------------------------------------------------------------------------------
Page 6 of 11 Pages
<PAGE>
This Amendment No. 7 to the Schedule 13D dated September 10, 1987, as
amended by Amendment Nos. 1 through 6 (the "Schedule 13D"), is being filed
pursuant to Rule 13d-2 under the Securities Exchange Act of 1934, as amended, on
behalf of: (i) Urstadt Property Company, Inc., (ii) Charles J. Urstadt, (iii)
Elinor F. Urstadt, (iv) the Catherine Urstadt Biddle Irrevocable Trust, by
Charles J. Urstadt as Sole Trustee and (v) the Charles D. Urstadt Irrevocable
Trust, by Charles J. Urstadt as Sole Trustee. Capitalized terms used but not
otherwise defined herein shall have the meanings ascribed to such terms in the
Schedule 13D.
The Schedule 13D is hereby amended and supplemented as follows:
ITEM 1. SECURITY AND ISSUER.
Item 1 of the Schedule 13D is hereby amended as follows:
This Statement on Schedule 13D relates to the Common Stock, par value
$.01 per share (the "Common Stock"), of Urstadt Biddle Properties Inc.,
a Maryland corporation (the "Issuer").
ITEM 2. IDENTITY AND BACKGROUND.
Item 2 of the Schedule 13D is hereby amended as follows:
The respective names, business addresses, present principal occupations
and citizenships of each director and executive officer of UPCO are set
forth on Schedule I hereto.
ITEM 4. PURPOSE OF TRANSACTION.
Item 4 of the Schedule 13D is hereby supplemented as follows:
On June 16, 1998, the Board of Directors of the Issuer declared a
special stock dividend (the "Stock Dividend") on the Common Stock of
the Issuer consisting of one share of a newly created class of Class A
Common Stock, par value $.01 per share (the "Class A Common Stock"),
for each share of Common Stock outstanding as of the close of business
on July 31, 1998 (the "Record Date"). The Stock Dividend was payable on
August 14, 1998 to holders of record of the Common Stock at the close
of business on the Record Date.
Mr. Urstadt is the beneficial owner of approximately 25.0% of the
outstanding shares of Common Stock and, upon payment of the Stock
Dividend, Mr. Urstadt acquired approximately 18.0% of the outstanding
shares of Class A Common Stock. Should Mr. Urstadt sell shares of Class
A Common Stock and purchase additional shares of Common Stock, Mr.
Urstadt could increase his percentage voting power. Depending upon the
actual number of shares of Common Stock acquired by Mr. Urstadt, his
position could make it more difficult for a third party to effect an
unsolicited take-over attempt or to replace the current members of the
Board of Directors of the Issuer, thereby possibly depriving
stockholders of the Issuer of an opportunity to sell their shares at a
premium over prevailing market prices. While Mr. Urstadt has no present
plans or arrangements to acquire or dispose of any shares of Common
Stock or Class A Common Stock, it is possible that he could dispose of
shares of Class A Common Stock and acquire shares of Common Stock and
it is his current intention that if he were to acquire or dispose of
any shares, he would acquire shares of Common Stock and dispose of
shares of Class A Common Stock. Any such purchases and sales would be
dependent upon a number of factors, including market conditions,
availability of the shares, market prices and other factors.
Except as specifically set forth in this Item 4, none of UPCO, Mr.
Urstadt, Mrs. Urstadt, the CUB Trust or the CDU Trust has any plans or
proposals which relate to or would result in any of the actions or
effects set forth in items (a) through (j) of Item 4 of Schedule 13D,
although such persons may develop such plans or proposals.
Page 7 of 11 Pages
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5(a) and (b) of the Schedule 13D are hereby amended as follows:
(a) UPCO is the beneficial owner of 25,000 shares of Common Stock,
constituting 0.5% of the 5,499,717 shares of Common Stock
outstanding as of August 21, 1998.
Mr. Urstadt is the beneficial owner of 15,800 shares of Common
Stock individually, which, when added to the 25,000 shares of
Common Stock held by UPCO, the 450,000 shares of Common Stock held
by the CUB Trust, the 450,000 shares of Common Stock held by the
CDU Trust, the 50,000 shares held by Mrs. Urstadt and the
approximately 512,000 shares of Common Stock issuable upon
exercise of options exercisable within 60 days held by Mr. Urstadt
(the "Option Shares"), constitute 1,502,800 shares of Common
Stock, or 25.0% of the sum of (i) the 5,499,717 shares of Common
Stock outstanding as of August 21, 1998 plus (ii) the Option
Shares. This figure excludes approximately 77,000 shares of Common
Stock issuable upon exercise of options which are not currently
exercisable and will not become exercisable within 60 days.
Mrs. Urstadt is the beneficial owner of 50,000 shares of Common
Stock, constituting 0.9% of the 5,499,717 shares of Common Stock
outstanding as of August 21, 1998.
The CUB Trust is the beneficial owner of 450,000 shares of Common
Stock, constituting 8.2% of the 5,499,717 shares of Common Stock
outstanding as of August 21, 1998.
The CDU Trust is the beneficial owner of 450,000 shares of Common
Stock, constituting 8.2% of the 5,499,717 shares of Common Stock
outstanding as of August 21, 1998.
(b) UPCO and Mr. Urstadt may be deemed to have shared power to vote or
direct the voting of and to dispose of or direct the disposition
of the 25,000 shares of Common Stock owned by UPCO in view of the
fact that Mr. Urstadt and Mrs. Urstadt own a controlling amount of
the outstanding voting securities of UPCO.
Mr. Urstadt has the sole power to vote or direct the voting of
and to dispose of or direct the disposition of 15,800 shares of
Common Stock.
Mrs. Urstadt has the sole power to vote or direct the voting of
and to dispose of or direct the disposition of 50,000 shares of
Common Stock.
The CUB Trust and Mr. Urstadt may be deemded to have shared power
to vote or direct the voting of and to dispose of or direct the
disposition of the 450,000 shares of Common Stock owned by the CUB
Trust in view of the fact that Mr. Urstadt is the sole trustee of
the CUB Trust.
The CDU Trust and Mr. Urstadt may be deemed to have shared power
to vote or direct the voting of and to dispose of or direct the
disposition of the 450,000 shares of Common Stock owned by the CDU
Trust in view of the fact that Mr. Urstadt is the sole trustee of
the CDU Trust.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
1. Joint Filing Agreement, dated August 24, 1998.
Page 8 of 11 Pages
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of their respective knowledge
and belief, the undersigned certify that the information set forth in this
statement is true, complete and correct.
Dated: August 24, 1998
URSTADT PROPERTY COMPANY, INC.
By: /s/ Charles J. Urstadt
______________________________________
Name: Charles J. Urstadt
Title: Chairman of the Board
/s/ Charles J. Urstadt
------------------------------------
Charles J. Urstadt
/s/ Elinor F. Urstadt
-------------------------------------
Elinor F. Urstadt
CATHERINE URSTADT BIDDLE IRREVOCABLE
TRUST
By: /s/ Charles J. Urstadt
--------------------------------
Name: Charles J. Urstadt
Title: Trustee
CHARLES D. URSTADT IRREVOCABLE TRUST
By: /s/ Charles J. Urstadt
--------------------------------
Name: Charles J. Urstadt
Title: Trustee
Page 9 of 11 Pages
<PAGE>
SCHEDULE I
----------
Reporting Person: Urstadt Property Company, Inc. ("UPCO")
2 Park Place
Bronxville, New York 10708
Executive Officers and Directors:
Name:........................... Charles J. Urstadt
Position:....................... Chairman
Principal Occupation
and Employment;
Business Address:............... Chairman of UPCO; Chairman and Chief
Executive Officer of the Issuer; the
business address is 321 Railroad Avenue,
Greenwich, Connecticut 06830.
Citizenship:.................... United States of America
Name: ....................... Charles D. Urstadt
Position:....................... Director, President and Secretary
Principal Occupation
and Employment;
Business Address:............... President and Secretary of UPCO; the
business address is 2 Park Place,
Bronxville, New York 10708.
Citizenship:.................... United States of America
Name: ....................... Jeffrey Urstadt
Position:....................... Director, Vice Chairman
Principal Occupation
and Employment;
Business Address:............... Vice Chairman of UPCO; the business address
is 2 Park Place, Bronxville, New York 10708.
Citizenship:.................... United States of America
Name: ....................... Daniel J. Keon
Position:....................... Senior Vice President and Treasurer
Principal Occupation
and Employment;
Business Address:............... Senior Vice President and Treasurer of UPCO;
the business address is 2 Park Place,
Bronxville, New York, 10708.
Citizenship:.................... United States of America
Name: ....................... Catherine Urstadt Biddle
Position:....................... Vice President and Assistant Secretary
Principal Occupation
and Employment;
Business Address:............... Vice President and Assistant Secretary of
UPCO; the business address is 2 Park Place,
Bronxville, New York 10708.
Citizenship:.................... United States of America
Page 10 of 12 Pages
<PAGE>
EXHIBIT INDEX
-------------
Exhibit
- -------
1. Joint Filing Agreement, dated August 24, 1998.
Page 10 of 11 Pages
<PAGE>
Exhibit 1
AGREEMENT
The undersigned hereby agree that this Statement on Schedule 13D with
respect to the beneficial ownership of shares of Common Stock of Urstadt Biddle
Properties Inc. is filed jointly, on behalf of each of them.
Dated: August 24, 1998
URSTADT PROPERTY COMPANY, INC.
By: /s/ Charles J. Urstadt
--------------------------------------------
Name: Charles J. Urstadt
Title: Chairman of the Board
/s/ Charles J. Urstadt
--------------------------------------
Charles J. Urstadt
/s/ Elinor F. Urstadt
--------------------------------------
Elinor F. Urstadt
CATHERINE URSTADT BIDDLE IRREVOCABLE
TRUST
By: /s/ Charles J. Urstadt
-------------------------------------------
Name: Charles J. Urstadt
Title: Trustee
CHARLES D. URSTADT IRREVOCABLE TRUST
By: /s/ Charles J. Urstadt
-------------------------------------------
Name: Charles J. Urstadt
Title: Trustee
Page 11 of 11 Pages
