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. 1)*
Under the Securities Exchange Act of 1934
Urstadt Biddle Properties Inc.
------------------------------
(Name of Issuer)
Class A Common Stock, par value $.01 per share
----------------------------------------------
(Title of Class of Securities)
917286 20 5
----------------------
(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)
April 16, 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 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 o.
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 13 Pages
<PAGE>
<TABLE>
CUSIP NO. 917286 20 5
<S> <C>
- ------------------------------------------------------------------------------------------------------
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) o
- ------------------------------------------------------------------------------------------------------
6 Citizenship or Place of Organization
United States of America
- ------------------------------------------------------------------------------------------------------
7 Sole Voting Power
Number of 35,800
Shares
Beneficially 8 Shared Voting Power
Owned by 270,000
Each
Reporting 9 Sole Dispositive Power
Person With 35,800
10 Shared Dispositive Power
270,000
- ------------------------------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
873,191
- ------------------------------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares []
- ------------------------------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
14.1%
- ------------------------------------------------------------------------------------------------------
14 Type of Reporting Person
IN
- ------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 13 Pages
<PAGE>
<TABLE>
CUSIP NO. 917286 20 5
<S> <C>
- ------------------------------------------------------------------------------------------------------
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 0
Each
Reporting 9 Sole Dispositive Power
Person With 0
10 Shared Dispositive Power
0
- ------------------------------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
0
- ------------------------------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares o
- ------------------------------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
0%
- ------------------------------------------------------------------------------------------------------
14 Type of Reporting Person
CO
- ------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 13 Pages
<PAGE>
<TABLE>
CUSIP NO. 917286 20 5
<S> <C>
- ------------------------------------------------------------------------------------------------------
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 43,000
Shares
Beneficially 8 Shared Voting Power
Owned by 0
Each
Reporting 9 Sole Dispositive Power
Person With 43,000
10 Shared Dispositive Power
0
- ------------------------------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
43,000
- ------------------------------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- ------------------------------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
0.8%
- ------------------------------------------------------------------------------------------------------
14 Type of Reporting Person
IN
- ------------------------------------------------------------------------------------------------------
</TABLE>
Page 4 of 13 Pages
<PAGE>
<TABLE>
CUSIP NO. 917286 20 5
<S> <C>
- ------------------------------------------------------------------------------------------------------
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) o
- ------------------------------------------------------------------------------------------------------
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 138,000
Each
Reporting 9 Sole Dispositive Power
Person With 0
10 Shared Dispositive Power
138,000
- ------------------------------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
138,000
- ------------------------------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- ------------------------------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
2.4%
- ------------------------------------------------------------------------------------------------------
14 Type of Reporting Person
OO
- ------------------------------------------------------------------------------------------------------
</TABLE>
Page 5 of 13 Pages
<PAGE>
<TABLE>
CUSIP NO. 917286 20 5
<S> <C>
- ------------------------------------------------------------------------------------------------------
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 132,000
Each
Reporting 9 Sole Dispositive Power
Person With 0
10 Shared Dispositive Power
132,000
- -------------------------------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
132,000
- ------------------------------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- ------------------------------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
2.3%
- ------------------------------------------------------------------------------------------------------
14 Type of Reporting Person
OO
- ------------------------------------------------------------------------------------------------------
</TABLE>
Page 6 of 13 Pages
<PAGE>
This Amendment No. 1 to the Schedule 13D dated August 14, 1998 (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 (the "CUB Trust"), by Charles J. Urstadt as
Sole Trustee and (v) the Charles D. Urstadt Irrevocable Trust (the "CDU 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 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 of the Schedule 13D is hereby supplemented as
follows:
See Item 4, below.
ITEM 4. PURPOSE OF TRANSACTION.
Item 4 of the Schedule 13D is hereby supplemented as
follows:
On April 16, 1999, Mr. Urstadt, solely in his capacity as
the trustee of the CUB Trust (the "CUB Trustee"), entered
into, for and on behalf of the CUB Trust, a transaction
with Countryside Square Limited Partnership, a Delaware
limited partnership of which the sole general partner is
the Issuer ("Countryside"), pursuant to which the CUB
Trustee exchanged 300,000 shares of Class A Common Stock,
held by the CUB Trustee on behalf of, and subject to, the
CUB Trust for 300,000 shares of Common Stock, par value
$.01 per share, of the Issuer ("Common Stock") held by
Countryside.
On the same date, Mr. Urstadt, solely in his capacity as
the trustee of the CDU Trust (the "CDU Trustee"), entered
into, for and on behalf of the CDU Trust, a transaction
with Countryside, pursuant to which the CDU Trustee
exchanged 300,000 shares of Class A Common Stock held by
the CDU Trustee on behalf of, and subject to, the CDU
Trust for 300,000 shares of Common Stock held by
Countryside (the share exchange transaction between the
CUB Trustee, for and on behalf of the CUB Trust, and
Countryside and the share exchange transaction between the
CDU Trustee, for and on behalf of the CDU Trust, and
Countryside are collectively hereinafter referred to as
the "Share Exchange Transaction").
In addition, on April 6, 1999, the CUB Trustee and the CDU
Trustee each entered into, for and on behalf of the CUB
Trust and the CDU Trust, respectively, certain privately
negotiated transactions with third parties pursuant to
which the CUB Trustee and the CDU Trustee exchanged 12,000
shares and 18,000 shares, respectively, of Class A Common
Stock held by CUB Trust and CDU Trust, respectively, for
12,000 shares and 18,000 shares, respectively, of Common
Stock.
Further, on April 13, 1999, the Board of Directors of the
Issuer approved the sale of 30,000 shares of Common Stock
to Mr. Urstadt at a purchase price equal to $7.7228 per
share in cash. Such sale was effected on April 16, 1999
with proceeds received by Mr. Urstadt from the Issuer's
Deferred Directors' Plan.
Further, on April 6, 1999, the Urstadt Conservation
Foundation (the "Urstadt Foundation") an entity with whom
Mr. Urstadt and Mrs. Urstadt may be deemed to have shared
power to vote or direct the voting of and to dispose of or
direct the disposition of shares of stock which it holds,
acquired by purchase from the estate of Claire J. Urstadt,
the mother of Mr. Urstadt, 20,000 shares of Common Stock
at a price of $7.625 per share.
Page 7 of 13 Pages
<PAGE>
As a result, (i) Mr. Urstadt beneficially owns
approximately 37.2% of the outstanding shares of Common
Stock and 14.1% of the outstanding shares of Class A
Common Stock, which, collectively, constitute 36.0% of the
total voting power of the Issuer, and (ii) each of the CUB
Trust and the CDU Trust beneficially owns approximately
13.8% and 13.9%, respectively, of the outstanding shares
of Common Stock and 2.4% and 2.3%, respectively, of the
outstanding shares of Class A Common Stock, which, in case
of each of the CUB Trust and the CDU Trust, constitutes,
respectively, 13.2% and 13.3% of the total voting power of
the Issuer.
Mr. Urstadt consummated the Share Exchange Transaction to
increase his percentage voting power in the Issuer. Mr.
Urstadt may determine to increase further his percentage
voting power in the Issuer by acquiring additional shares
of Common Stock in one or more transactions. Such
transactions could include, without limitation, (i) an
exchange of shares of Class A Common Stock beneficially
owned by Mr. Urstadt for shares of Common Stock similar to
the Share Exchange Transaction with one or more third
parties, (ii) a sale of the shares of Class A Common Stock
beneficially owned by Mr. Urstadt together with a purchase
of shares of Common Stock, in each case in open-market or
privately negotiated transactions, or (iii) purchases of
shares of Common Stock in open-market or privately
negotiated transactions. Any such exchanges, purchases and
sales would be dependent upon market conditions,
availability of the shares, market prices and other
factors.
As a result of the Share Exchange Transaction, Mr. Urstadt
beneficially owns a number of shares of Common Stock and
Class A Common Stock which represent a sufficient
percentage of the voting power of the Issuer such that:
(i) a merger and certain other extraordinary corporate
transactions involving the Company, (ii) the amendment of
certain provisions of the Issuer's Articles of
Incorporation, and (iii) the removal of the Issuer's
directors, each of which must be approved by a vote of the
holders of two-thirds of the outstanding voting power of
the Issuer, would require the affirmative vote of the
shares of Common Stock and Class A Common Stock
beneficially owned by Mr. Urstadt.
Except as specifically set forth in this Item 4, none of
UPCO, Mr. Urstadt, Mrs. Urstadt, the CUB Trust, the CDU
Trust, or, to the best knowledge of such parties, any of
the persons listed on Schedule I to the Schedule 13D, 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.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 of the Schedule 13D is hereby supplemented as
follows:
(a) Mr. Urstadt is the beneficial owner of 35,800 shares
of Class A Common Stock individually, which, when
added to the 138,000 shares of Class A Common Stock
held by the CUB Trust, the 132,000 shares of Class A
Common Stock held by the CDU Trust, the 43,000 shares
held by Mrs. Urstadt and the approximately 524,391
shares of Class A Common Stock issuable upon exercise
of options exercisable within 60 days held by Mr.
Urstadt (the "Option Shares"), constitute 873,191
shares of Class A Common Stock, or 14.1% of the sum
of (i) the 5,667,847 shares of Class A Common Stock
outstanding as of April 16, 1999 plus (ii) the Option
Shares. These figures exclude approximately 50,779
shares of Common Stock issuable upon exercise of
options which are not currently exercisable and will
not become
Page 8 of 12 Pages
<PAGE>
exercisable within 60 days. These figures also
exclude 48,826 cash appreciation rights all of which
are exercisable within 60 days.
Mrs. Urstadt is the beneficial owner of 43,000 shares
of Class A Common Stock, constituting 0.8% of the
5,667,847 shares of Class A Common Stock outstanding
as of April 16, 1999.
The CUB Trust is the beneficial owner of 138,000
shares of Class A Common Stock, constituting 2.4% of
the 5,667,847 shares of Class A Common Stock
outstanding as of April 16, 1999.
The CDU Trust is the beneficial owner of 132,000
shares of Class A Common Stock, constituting 2.3% of
the 5,667,847 shares of Class A Common Stock
outstanding as of April 16, 1999.
(b) Mr. Urstadt has the sole power to vote or direct the
voting of and to dispose of or direct the disposition
of 35,800 shares of Class A Common Stock.
Mrs. Urstadt has the sole power to vote or direct the
voting of and to dispose of or direct the disposition
of 43,000 shares of Class A Common Stock.
The CUB 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 138,000
shares of Class A 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 132,000
shares of Class A Common Stock owned by the CDU Trust
in view of the fact that Mr. Urstadt is the sole
trustee of the CDU Trust.
(c) On April 6, 1999, the CUB Trustee and the CDU Trustee
each entered into, for and on behalf of the CUB Trust
and the CDU Trust, respectively, certain privately
negotiated transactions with third parties pursuant
to which the CUB Trustee and the CDU Trustee
exchanged 12,000 shares and 18,000 shares,
respectively, of Class A Common Stock held by the CUB
Trust and the CDU Trust, respectively, for 12,000
shares and 18,000 shares, respectively, of Common
Stock.
Except as set forth in this Schedule 13D, none of
UPCO, Mr. Urstadt, Mrs. Urstadt, the CUB Trust, the
CDU Trust, or, to the best knowledge of such parties,
any of the persons listed on Schedule I to the
Schedule 13D, owns any shares of Class A Common Stock
or has purchased or sold any shares of Class A Common
Stock during the past 60 days.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
Item 7 of the Schedule 13D is hereby supplemented as
follows:
Page 9 of 13 Pages
<PAGE>
1. Joint Filing Agreement, dated April 20, 1999.
Page 10 of 13 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: April 20, 1999
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 13 Pages
<PAGE>
EXHIBIT INDEX
-------------
Exhibit
- -------
1. Joint Filing Agreement, dated April 20, 1999.
Page 12 of 13 Pages
<PAGE>
Exhibit 1
AGREEMENT
---------
The undersigned hereby agree that this Statement on Schedule 13D with
respect to the beneficial ownership of shares of Class A Common Stock of Urstadt
Biddle Properties Inc. is filed jointly, on behalf of each of them.
Dated: April 20, 1999
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 13 of 13 Pages
