SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
ZIONS COOPERATIVE MERCANTILE INSTITUTION
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
989705108
(CUSIP Number)
THE ZCMI TRUST
WARREN P. KING, TRUSTEE
35 CENTURY PARK-WAY
SALT LAKE CITY, UTAH 84115
(801) 486-3911
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
COPY TO:
JAY L. BERNSTEIN, ESQ.
ROGERS & WELLS LLP
200 PARK AVENUE
NEW YORK, NEW YORK 10166
(212) 878-8000
SEPTEMBER 15, 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), 13d-1(f) or 13d-1(g), check the
following box. |_|
(Continued on following pages)
(Page 1 of 6 Pages)
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CUSIP No. 989705108 13D Page 2 of 6 Pages
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1.
Name of Reporting Persons/
I.R.S. Identification Nos. of Above Persons (Entities Only)
THE ZCMI TRUST
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2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)|_|
(b)|_|
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3.
SEC Use Only
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4.
Source of Funds
OO
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5.
Check Box if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
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6.
Citizenship or Place of Organization
UTAH
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Number of 7.
Shares Sole Voting Power
113,785
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------- -------------------------------------------
Beneficially 8.
Owned By Shared Voting Power
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------- -------------------------------------------
Each Reporting 9.
Person With Sole Dispositive Power
113,785
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10.
Shared Dispositive Power
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11.
Aggregate Amount Beneficially Owned By Each Reporting Person
113,785
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12.
Check Box if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions)
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13.
Percent of Class Represented By Amount in Row (11)
5.15%
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14.
Type of Reporting Person
OO
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<PAGE>
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CUSIP No. 989705108 13D Page 3 of 6 Pages
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1.
Name of Reporting Persons/
I.R.S. Identification Nos. of Above Persons (Entities Only)
WARREN P. KING
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2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)|_|
(b)|_|
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3.
SEC Use Only
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4.
Source of Funds
OO
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5.
Check Box if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
|_|
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6.
Citizenship or Place of Organization
UNITED STATES
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Number of 7.
Shares Sole Voting Power
113,785 (1)
------- -------------------------------------------
------- -------------------------------------------
Beneficially 8.
Owned By Shared Voting Power
------- -------------------------------------------
------- -------------------------------------------
Each Reporting 9.
Person With Sole Dispositive Power
113,785 (1)
------- -------------------------------------------
------- -------------------------------------------
10.
Shared Dispositive Power
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11.
Aggregate Amount Beneficially Owned By Each Reporting Person
113,785 (1)
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12.
Check Box if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions)
|_|
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13.
Percent of Class Represented By Amount in Row (11)
5.15%
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14.
Type of Reporting Person
IN
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(1) Solely in Mr. King's capacity as the Trustee of The ZCMI Trust. This
statement shall not be construed as an admission by Mr. King that he is
the beneficial owner of the securities covered by this statement.
<PAGE>
SCHEDULE 13D
ITEM 1. SECURITY AND ISSUER.
This statement relates to the common stock, par value $0.001 per share
(the "Common Stock"), of Zions Cooperative Mercantile Institution (the
"Issuer"), whose principal executive offices are located at 2200 South 900 West,
South Salt Lake City, Utah 84119.
ITEM 2. IDENTITY AND BACKGROUND.
(a)-(c) This statement on Schedule 13D is being filed jointly by The
ZCMI Trust, a Utah grantor trust (the "Trust"), and Warren P. King, the trustee
of the Trust (the "Trustee"). The Trustee's present principal occupation is
President and Chief Executive Officer of Alta Industries - Utah, Inc. The
address of the Trust and the Trustee is 35 Century Park-Way, Salt Lake City,
Utah 84115.
(d)-(e) During the past five years neither the Trust nor the Trustee
has been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) or been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction which resulted in the Trust or the
Trustee, as the case may be, being subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with respect to
such laws.
(f) The Trustee is a citizen of the United States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
On September 15, 1999, John Price irrevocably transferred all of his
right, title and interest in 113,785 shares of Common Stock (the "Shares") to
the Trust for the benefit of the Trust's named beneficiaries.
ITEM 4. PURPOSE OF THE TRANSACTION.
The Trust holds the Shares for investment purposes. The Trust and the
Trustee will continuously assess the Issuer's business, financial condition,
results of operations and prospects, general economic, financial and industry
conditions, the securities markets and future trading prices, in general and
those for the Common Stock in particular, other developments and other
investment opportunities. Depending on such assessments, the Trustee, on behalf
of the Trust, may determine to acquire additional shares of Common Stock or may
determine to sell or otherwise dispose of all or some of his holdings of Common
Stock.
Except as described above, neither the Trust nor the Trustee has any
current plans or proposals which relate to, or would result in, any of the
matters set forth in subparagraphs (a) through (j) of Item 4 of Schedule 13D
under the Securities Exchange Act of 1934, as amended.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a)-(b) As of September 15, 1999, the Trust became the direct record
and beneficial owner of the Shares and, through the Trustee, has the sole voting
and dispositive powers with respect to the Shares. By virtue of the Trust's
acquisition of the Shares on September 15, 1999, the Trustee became a beneficial
owner of the Shares and has the sole voting and dispositive powers with respect
to the Shares. The Shares constitute approximately 5.15% of the outstanding
shares of Common Stock of the Issuer.
(c) Not applicable
(d) No other person has the right to receive, or the power to direct
receipt of, ordinary cash dividends from, or the proceeds from the sale of, the
Shares.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER
There are no contracts, arrangements or other understandings between
the Issuer and the Trust and the Trustee relating to the Common Stock or other
securities of the Issuer.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 7.1 Joint Filing Agreement, dated September 24, 1999, between
the Trust and the Trustee.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: September 24, 1999
THE ZCMI TRUST
By: /s/ Warren P. King
--------------------
Name: Warren P. King
Title: Trustee
/s/ Warren P. King
------------------------
Warren P. King
<PAGE>
EXHIBIT 7.1
JOINT FILING AGREEMENT
On behalf of The ZCMI Trust and myself, as the Trustee of The ZCMI
Trust, the signatories of the statement on Schedule 13D to which this Agreement
is attached, I hereby agree that such statement is, and any amendments thereto
will be, filed jointly on behalf of The ZCMI Trust and myself.
Dated: September 24, 1999
THE ZCMI TRUST
By: /s/ Warren P. King
--------------------
Name: Warren P. King
Title: Trustee
/s/ Warren P. King
------------------------
Warren P. King
