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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
(Mark One)
[X ] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the fiscal year ended December 31, 1996
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 [NO FEE REQUIRED]
For the transition period from __________ to __________
Commission File Number 0-22403
A. Full title of the plan and the address of the plan, if different
from that of the issuer named below:
HORIZON PHARMACIES, INC. 401(k) PLAN
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:
HORIZON PHARMACIES, INC.
275 W. PRINCETON DRIVE
PRINCETON, TEXAS 75407
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Unaudited Financial Statements
Statement of Net Assets Available for Benefits with Fund Information at
December 31, 1996............................................................1
Statement of Changes in Net Assets Available for Benefits with Fund
Information for the year ended December 31, 1996.............................2
Party-in-interest transactions are not presented because there are no
party-in-interest transactions which are prohibited by ERISA Section 406 and
for which there is no statutory or administrative exemption.
SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act
of 1934, the trustees (or other persons who administer the employee benefit
plan) have duly caused this annual report to be signed on its behalf by the
undersigned hereunto duly authorized.
HORIZON PHARMACIES, INC.
Date: December 31, 1997 By: /s/ Ricky D. McCord
---------------------------------------
Ricky D. McCord, President and Chief
Operating Officer
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HORIZON PHARMACIES, INC. 401(k) PLAN
UNAUDITED FINANCIAL STATEMENTS
Year ended December 31, 1996
CONTENTS
Statement of Net Assets Available for Benefits with Fund Information at
December 31, 1996...........................................................1
Statement of Changes in Net Assets Available for Benefits with Fund
Information for the year ended December 31, 1996............................2
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HORIZON PHARMACIES, INC.
401(k) PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
DECEMBER 31, 1996
<TABLE>
Guaranteed Fidelity Vanguard Fidelity Blue Janus
Interest Balanced Index 500 Chip Growth Fund Total
----------- -------- --------- ------------- ------ -----
<S> <C> <C> <C> <C> <C>
ASSETS
Receivables
Pre-Tax Contributions $ 4,367.03 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 4,367.03
Sub-Total Contributions 4,367.03 0.00 0.00 0.00 0.00 4,367.03
Interfund Transfers 0.00 6,484.46 7,794.20 18,857.04 9,644.64 42,780.34
Investment Fund 60,609.53 16,383.74 22,514.17 25,181.71 30,326.84 155,015.99
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TOTAL ASSETS $64,976.56 $22,868.20 $30,308.37 $44,038.75 $39,971.48 $202,163.36
---------- ---------- ---------- ---------- ---------- -----------
LIABILITIES
Excess Amounts 486.68 2,244.00 2,643.53 5,481.83 2,144.04 13,000.08
Interfund Transfers 41,880.34 0.00 0.00 900.00 0.00 42,780.34
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TOTAL LIABILITIES $42,367.02 $ 2,244.00 $ 2,643.53 $ 6,381.83 $ 2,144.04 $ 55,780.42
---------- ---------- ---------- ---------- ---------- -----------
FUND BALANCE $22,609.64 $20,624.20 $27,664.84 $37,757.92 $37,827.44 $146,382.94
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</TABLE>
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HORIZON PHARMACIES, INC.
401(k) PLAN
STATEMENT OF CHANGES IN ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
JANUARY 1, 1996 TO DECEMBER 31, 1996
<TABLE>
Guaranteed Fidelity Vanguard Fidelity Blue Janus
Interest Balanced Index 500 Chip Growth Fund Total
----------- -------- --------- ------------- ------ -----
<S> <C> <C> <C> <C> <C> <C>
NET ASSETS AVAILABLE FOR
BENEFITS DECEMBER 31, 1995 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00
ADDITIONS
Contributions 13,615.44 12,678.80 14,160.40 32,607.91 15,477.97 88,540.52
Pre-Tax 8,752.17 8,752.16 13,894.43 8,752.16 22,646.59 62,797.51
---------- ---------- ---------- ---------- ---------- -----------
Rollover 22,367.61 21,430.96 28,054.83 41,360.07 38,124.56 151,338.03
Interfund Transfers 0.00 0.00 900.00 0.00 0.00 900.00
Earnings
Interest Earned 728.61 21.89 30.52 35.85 41.62 858.49
Unrealized Gain/Loss 0.00 1,415.35 1,323.02 2,642.83 1,805.30 7,186.50
---------- ---------- ---------- ---------- ---------- -----------
Sub-Total Earnings 728.61 1,437.24 1,353.54 2,678.68 1,846.92 8,044.99
---------- ---------- ---------- ---------- ---------- -----------
TOTAL ADDITIONS 29,096.22 22,868.20 30,308.37 44,038.75 39,971.48 160,283.02
SUBTRACTIONS
Excess Amounts 486.68 2,244.00 2,643.53 5,481.83 2,144.04 13,000.08
Interfund Transfers 0.00 0.00 0.00 900.00 0.00 900.00
---------- ---------- ---------- ---------- ---------- -----------
TOTAL SUBTRACTIONS 486.68 2,244.00 2,643.53 6,381.83 2,144.04 13,900.08
---------- ---------- ---------- ---------- ---------- -----------
NET ASSETS AVAILABLE FOR
BENEFITS AT DECEMBER 31, 1996 $22,609.54 $20,624.20 $27,664.84 $37,656.92 $37,827.44 $146,382.94
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</TABLE>
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