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. 8)*
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)
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 [ ].
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 14 Pages
<PAGE>
CUSIP NO. 404265 10 0
<TABLE>
<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
OO; PF
- -------------------------------------------------------------------------------------------------------------------
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 65,800
Shares
Beneficially 8 Shared Voting Power
Owned by 1,600,000
Each
Reporting 9 Sole Dispositive Power
Person With 65,800
10 Shared Dispositive Power
1,600,000
- ---------------------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
2,250,785
- -------------------------------------------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- -------------------------------------------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
37.2%
- -------------------------------------------------------------------------------------------------------------------
14 Type of Reporting Person
IN
- -------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 14 Pages
<PAGE>
CUSIP NO. 404265 10 0
<TABLE>
<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 50,000
Each
Reporting 9 Sole Dispositive Power
Person With 0
10 Shared Dispositive Power
50,000
- ---------------------------------------------------------------------------------------------
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
CO
- -------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 14 Pages
<PAGE>
CUSIP NO. 404265 10 0
<TABLE>
<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 57,000
Shares
Beneficially 8 Shared Voting Power
Owned by 20,000
Each
Reporting 9 Sole Dispositive Power
Person With 57,000
10 Shared Dispositive Power
20,000
- ---------------------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
77,000
- -------------------------------------------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- -------------------------------------------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
1.4%
- -------------------------------------------------------------------------------------------------------------------
14 Type of Reporting Person
IN
- -------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 4 of 14 Pages
<PAGE>
CUSIP NO. 404265 10 0
<TABLE>
<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
OO
- -------------------------------------------------------------------------------------------------------------------
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 762,000
Each
Reporting 9 Sole Dispositive Power
Person With 0
10 Shared Dispositive Power
762,000
- ---------------------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
762,000
- -------------------------------------------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- -------------------------------------------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
13.8%
- -------------------------------------------------------------------------------------------------------------------
14 Type of Reporting Person
OO
- -------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 5 of 14 Pages
<PAGE>
CUSIP NO. 404265 10 0
<TABLE>
<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
OO
- -------------------------------------------------------------------------------------------------------------------
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 768,000
Each
Reporting 9 Sole Dispositive Power
Person With 0
10 Shared Dispositive Power
768,000
- ---------------------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
768,000
- -------------------------------------------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- -------------------------------------------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
13.9%
- -------------------------------------------------------------------------------------------------------------------
14 Type of Reporting Person
OO
- -------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 6 of 14 Pages
<PAGE>
This Amendment No. 8 to the Schedule 13D dated September 10, 1987, as
amended by Amendment Nos. 1 through 7 (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,
par value $.01 per share, of the Issuer ("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 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 the CUB Trust and the 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 Mr. Urstadt's personal funds.
Page 7 of 14 Pages
<PAGE>
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.
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:
Page 8 of 14 Pages
<PAGE>
(a) UPCO is the beneficial owner of 50,000 shares of
Common Stock, constituting 0.9% of the 5,524,761
shares of Common Stock outstanding as of April 16,
1999.
Mr. Urstadt is the beneficial owner of 65,800 shares
of Common Stock individually, which, when added to
the 50,000 shares of Common Stock held by UPCO, the
762,000 shares of Common Stock held by the CUB
Trust, the 768,000 shares of Common Stock held by
the CDU Trust, the 57,000 shares held by Mrs.
Urstadt, the 20,000 shares of Common Stock held by
the Urstadt Foundation and the approximately 527,985
shares of Common Stock issuable upon exercise of
options exercisable within 60 days held by Mr.
Urstadt (the "Option Shares"), constitute 2,250,785
shares of Common Stock, or 37.2% of the sum of (i)
the 5,524,761 shares of Common Stock outstanding as
of April 16, 1999 plus (ii) the Option Shares. These
figures exclude approximately 51,127 shares of
Common Stock issuable upon exercise of options which
are not currently exercisable and will not become
exercisable within 60 days. These figures also
exclude 49,160 cash appreciation rights all of which
are exercisable within 60 days.
Mrs. Urstadt is the beneficial owner of 57,000
shares of Common Stock individually, which, when
added to the 20,000 shares of Common Stock held by
the Urstadt Foundation, constitute 1.4% of the
5,524,761 shares of Common Stock outstanding as of
April 16, 1999.
The CUB Trust is the beneficial owner of 762,000
shares of Common Stock, constituting 13.8% of the
5,524,761 shares of Common Stock outstanding as of
April 16, 1999.
The CDU Trust is the beneficial owner of 768,000
shares of Common Stock, constituting 13.9% of the
5,524,761 shares of Common Stock outstanding as of
April 16, 1999.
The Urstadt Foundation is the beneficial owner of
20,000 shares of Common Stock, constituting 0.4% of
the 5,524,761 shares of Common Stock outstanding as
of April 16, 1999.
(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 50,000 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 65,800 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 57,000 shares of 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 762,000
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 768,000
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.
The Urstadt Foundation, 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 the 20,000 shares of Common Stock
owned by the Urstadt Foundation in view of the fact
that Mr. Urstadt and Mrs. Urstadt are the sole
trustees of the Urstadt Foundation.
Page 9 of 14 Pages
<PAGE>
Item 5(c) of the Schedule 13D is hereby supplemented as
follows:
(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.
On April 13, 1999, the Board of Directors of the
Issuer approved the sale of 30,000 shares of Common
Stock to Mr. Urstadt and 2,000 shares of Common
Stock to George H. C. Lawrence a director of the
Issuer at a purchase price equal to $7.7228 per
share in cash. Such sales were effected on April 16,
1999 with proceeds received by Mr. Urstadt and Mr.
Lawrence from the Issuer's Deferred Directors' Fees
Plan.
On April 6, 1999, 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.
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 Common Stock or
has purchased or sold any shares of Common Stock
during the past 60 days.
Page 10 of 14 Pages
<PAGE>
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
Item 7 of the Schedule 13D is hereby supplemented as
follows:
1. Joint Filing Agreement, dated April 20, 1999.
Page 11 of 14 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 12 of 14 Pages
<PAGE>
EXHIBIT INDEX
Exhibit
-------
1. Joint Filing Agreement, dated April 20, 1999.
Page 13 of 14 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: 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 14 of 14 Pages
