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FORM 4
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[ ] CHECK THIS BOX IF NO LONGER OMB APPROVAL
SUBJECT TO SECTION 16. FORM 4 OR --------------------------------
FORM 5 OBLIGATIONS MAY CONTINUE. OMB NUMBER: 3235-0287
SEE INSTRUCTION 1(B). EXPIRES: SEPTEMBER 30, 1998
(PRINT OR TYPE RESPONSES) ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE..........0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility
Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
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<S> <C> <C>
1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting
Person to Issuer
Winokur, Herbert S., Jr. The WMF Group, Ltd. (WMFG) (Check all applicable)
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(Last) (First) (Middle) 3. IRS or Social 4. Statement for Month/Year [X] Director [X] 10% Owner
Security Number [ ]Officer [ ]Other
of Reporting January/1999 (give title (specify title
30 East Elm Street Person below) below)
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(Street)
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Greenwich CT 06830 5. If Amendment, 7. Individual or Joint/Group Filing
- --------------------------------------- Date of Original (Check Applicable Line)
(City) (State) (Zip) (Month/Year)
[ ] Form filed by One Reporting Person
[X] Form filed by More than One Reporting Person
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TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Ownership Form: 7. Nature of
(Instr.3) action action Code or Disposed of (D) Securities Direct (D) or Indirect
Date (Instr. 8) (Instr. 3,4 and 5) Beneficially Indirect (I) Beneficial
Owned at End of (Instr. 4) Ownership
(Month/ Month (Instr. 4)
Day/Year)
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Code V Amount (A) or (D) Price (Instr. 3 and 4)
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Common Stock, par value 1-for-1
$0.01 per share (1) 1/14/99 C 727,194 A (2) 1,563,206 D (3)
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Common Stock, par value 1-for-1
$0.01 per share (1) 1/14/99 C 44,368 A (2) 95,376 I (4)
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*If the form is filed by more than one reporting person, SEE Instruction 4(b)(v). SEC 1474 (7/96)
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
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<TABLE>
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FORM 4 (continued)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(E.G., puts, calls, warrants, options, convertible securities)
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<S> <C> <C> <C> <C>
1. Title of 2. Conversion 3. Transaction 4. Transaction 5. Number of
Derivative or Exercise Date Code Derivative
Security Price of (Month/Day/Year) (Instr. 8) Securities
(Instr. 3) Derivative Acquired (A)
Security or Disposed
of (D)
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Code V (A) (D)
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Class A
Preferred Stock (1) 1-for-1(2) 1/14/99 C 727,194
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Class A
Preferred Stock (1) 1-for-1(2) 1/14/99 C 44,368
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FORM 4 (continued)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(E.G., puts, calls, warrants, options, convertible securities)
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<S> <C> <C> <C> <C> <C>
6. Date 7. Title and Amount 8. Price of 9. Number of 10. Ownership 11. Nature of
Exercisable of Underlying Derivative Derivative Form of Indirect
and Expiration Securities Security Securities Derivative Beneficial
Date (Instr. 3 and 4) Beneficially Security: Ownership
(Month/Day/Year) Owned at Direct (D) or (Instr. 4)
End of Indirect (I)
Month (Instr. 4)
(Instr. 4)
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Amount
Date Expir- or
Exer- ation Number
cisable Date Title of Shares
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Immed. Common Stock 727,194 $4.587 per 0 D (3)
(2) share
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Immed. Common Stock 44,368 $4.587 per 0 I (4)
(2) share
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</TABLE>
Explanation of Responses:
1. Common Stock acquired and directly owned by Capricorn Investors II, L.P.
("Capricorn II") pursuant to conversion on January 14, 1999, of 727,194 shares
of class A non-voting, convertible preferred stock, par value $.01 per share, of
the Company ("Class A Preferred Stock") acquired at the closing of Stock
Purchase Agreement dated as of October 16, 1998 and executed on December 31,
1998 among The WMF Group, Ltd. (the "Company"), Harvard Private Capital
Holdings, Inc., Demeter Holdings Corporation ("Demeter"), Phemus Corporation
("Phemus") and Capricorn II (the "Stock Purchase Agreement").
2. The Class A Preferred Stock was converted into shares of Common Stock on a
1-for-1 basis on January 14, 1999, in accordance with the terms of the
Certificate of Designations, Preferences and Rights of the Class A Preferred
Stock.
3. Securities acquired and directly owned by Capricorn II. At January 31,
1999, Capricorn II held 1,563,206 shares of Common Stock, 0 shares of Class A
Preferred Stock and 142,806 derivative securities of the Company. The 142,806
derivative securities directly owned by Capricorn II at January 31, 1999
consisted of (i) rights to acquire up to 132,806 Stand-By Shares pursuant to the
Stand-By Purchase Agreement dated as of October 16, 1998 and executed on
December 31, 1998 among the Company, Demeter, Phemus and Capricorn II (the
"Stand-By Agreement"), (ii) rights to acquire 5,000 shares of Common Stock
pursuant to an option granted to Capricorn II in 1997 (the "1997 Option"), and
(iii) rights to acquire 5,000 shares of Common Stock pursuant to an Option
granted to Capricorn II in 1998 (the "1998 Option").
2
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4. Securities beneficially owned by Mr. Winokur, who may be deemed to have a
pecuniary interest in these securities owned by Capricorn II through Winokur
Family Investors, LLC ("WFI"). WFI has limited partnership interests in
Capricorn II and membership interests in Capricorn Holdings, LLC, the general
partner of Capricorn II. WFI is controlled by Mr. Winokur and owned by Mr.
Winokur and members of his immediate family. Other than with respect to 38,627
shares of Common Stock, and 3,526 derivative securities (such 3,526 derivative
securities consisting of (i) rights to acquire up to 3,282 Stand-By Shares
pursuant to the Stand-By Agreement, (ii) rights to acquire 122 shares of Common
Stock pursuant to the 1997 Option, and (iii) rights to acquire 122 shares of
Common Stock pursuant to the 1998 Option), Mr. Winokur disclaims beneficial
ownership of the shares and derivative securities beneficially owned by WFI. Mr.
Winokur has transferred his membership interests in Capricorn Holdings, LLC, and
his limited partnership interests in Capricorn II, to WFI. Mr. Winokur is the
Manager of Capricorn Holdings, LLC. In addition to his beneficial interest in
the securities held by Capricorn II, Mr. Winokur may be deemed to have a
pecuniary interest in 78,925 shares of Common Stock held directly by Capricorn
Holdings, Inc. (formerly known as Winokur Holdings, Inc.) on January 31, 1999.
Mr. Winokur is the President and sole shareholder of Capricorn Holdings, Inc.
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<S> <C> <C> <C>
/s/ HERBERT S. WINOKUR, JR. FEBRUARY 10, 1999
-----------------------
Herbert S. Winokur, Jr.
** International misstatements or omissions of facts constitute Federal
Criminal Violations. SEE 18 U.S. C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If
space provided is insufficient,
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
Capricorn Investors, II, L.P. FEBRUARY 10, 1999
By: Capricorn Holdings, LLC
/s/ HERBERT S. WINOKUR, JR.
-----------------------------
Name: Herbert S. Winokur, Jr.
Title: Manager
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FORM 4 - ADDITIONAL REPORTING PERSON INFORMATION
1. Name and Address of Additional Reporting Person:
Capricorn Investors II, L.P.
30 East Elm Street
Greenwich, Connecticut 06830
4
