<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
MetLife, Inc.
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
59156R108
(CUSIP Number)
Gary A. Beller, Esq.
Senior Executive Vice-President and General Counsel
MetLife, Inc.
One Madison Avenue
New York, NY 10010-3690
(212) 578-2211
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
April 7, 2000
---------------------------------
(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 which is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss. 240.13d-1(3), 240.13d-1(f) or 240.13d-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 ss. 240.13d-7(b) for other
parties to whom copies are to be sent.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purposes of Section 18 of the Securities Exchange Act of
1934 ("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).
* 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
disclosures provided in a prior cover page.
<PAGE> 2
SCHEDULE 13D
CUSIP No. 59156R108 PAGE 2 OF 15 PAGES
--------------------- -------- --------
(1) NAMES OF REPORTING PERSONS
Board of Directors of MetLife, Inc.,
but not in each director's individual capacity
S.S OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS NOT APPLICABLE
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS Not Applicable. See Item 4
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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 U.S.A.
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(7) SOLE VOTING POWER 0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER 494,466,664
OWNED BY
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER 0
PERSON WITH
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER 0
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
494,466,664
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(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 65.3%
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(14) TYPE OF REPORTING PERSON IC
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<PAGE> 3
SCHEDULE 13D
CUSIP No. 59156R108 Page 3 of 15 Pages
ITEM 1.
(A) NAME OF ISSUER
MetLife, Inc. (the "Issuer")
(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
One Madison Avenue
New York, NY 10010-3690
(C) TITLE OF CLASS OF SECURITIES
Common Stock, par value $.01 per share (the "Common Stock").
ITEM 2.
(a) The person filing this statement is the Board of Directors of the Issuer,
but not in each member's individual capacity.
(b) The Reporting Persons' business address is c/o MetLife, Inc., One Madison
Avenue, New York, NY 10010-3690.
(c) Not applicable.
(d) During the last five years, none of the members of the Board of Directors of
the Issuer has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors).
(e) None.
(f) The citizenship of each member of the Board of Directors is the United
States of America.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Not applicable (see Item 4).
ITEM 4. PURPOSE OF TRANSACTION.
The Board of Directors is reporting beneficial ownership of 493,903,472
shares of Common Stock (the "Shares") issued to the MetLife Policyholder Trust
(the
<PAGE> 4
SCHEDULE 13D
CUSIP No. 59156R108 Page 4 of 15 Pages
"Trust") under the Plan of Reorganization, dated September 28, 1999, as
amended (the "Plan"), of Metropolitan Life Insurance Company ("MetLife").
The Shares have been issued to the Trust pursuant to Section 5.2(d) of
the Plan, a copy of which is filed as an exhibit to this statement. No
consideration has been separately provided therefor by any member of the Board
of Director, except for Shares allocated to such member pursuant to the Plan.
Under the Plan and the MetLife Policyholder Trust Agreement, dated as
of November 3, 1999 (the "Trust Agreement"), by and among MetLife, the Issuer,
Wilmington Trust Company (the "Trustee") and ChaseMellon Shareholder Services,
L.L.C., as custodian (the "Custodian"), a copy of which is attached as an
exhibit to this statement, certain eligible policyholders of MetLife ("Trust
Eligible Policyholders") will be allocated a number of interests in the Trust
("Trust Interests") equal to the number of shares of Common Stock allocated to
the Trust Eligible Policyholder in accordance with the Plan. The assets of the
Trust will principally be the Shares issued to the Trust for the benefit of the
Trust Eligible Policyholders and permitted transferees (collectively, the
"Beneficiaries"). The Shares will be held in the name of the Trustee, on behalf
of the Trust, which shall have legal title over the Shares. The Beneficiaries
will not have legal title to any part of the assets of the Trust. The Trust
Interests will represent undivided fractional interests in the Shares and other
assets of the Trust beneficially owned by a Trust Beneficiary through the
Custodian.
The Trust Agreement provides the Trustee with directions as to the
manner in which to vote, assent or consent the Shares at all times during the
term of the Trust. On all matters brought for a vote before the stockholders of
the Issuer, with the exception of a Beneficiary Consent Matter (as defined
below), the Trustee will vote in accordance with the recommendation given by the
Board of Directors of the Issuer to its stockholders or, if no such
recommendation is given, as directed by the Board. On all Beneficiary Consent
Matters, the Trustee will vote all of the Shares in favor of, in opposition to
or abstain from the matter in the same ratio as the Trust Interests of the
Beneficiaries that returned voting instructions to the Trustee indicated
preferences for voting in favor of, in opposition to or abstaining from such
matter. The Trust Agreement also contains provisions allowing Beneficiaries to
instruct the Custodian to withdraw their allocated Trust Shares to participate
in any tender or exchange offer for the Common Stock and to make any cash or
share election, or perfect any dissenter's rights, in connection with a merger
of the Issuer.
A "Beneficiary Consent Matter" is:
(i) a contested election of directors or, subject to certain
conditions, the removal of a director,
<PAGE> 5
SCHEDULE 13D
CUSIP No. 59156R108 Page 5 of 15 Pages
(ii) a merger or consolidation, a sale, lease or exchange of
all or substantially all of the assets or a recapitalization or
dissolution of the Issuer, if it requires a vote of stockholders under
applicable Delaware law,
(iii) any transaction that would result in an exchange or
conversion of the Shares for cash, securities or other property,
(iv) issuances of Common Stock prior to the first anniversary
of the effective date of the Plan (the "Effective Date") at a price
materially below the prevailing market price, if a vote is required to
approve the issuance under Delaware law, other than issuances in an
underwritten public offering or pursuant to an employee benefit plan,
(v) before the first anniversary of the Effective Date, any
matter that requires approval by a vote of more than a majority of the
outstanding stock of the Issuer entitled to vote thereon under Delaware
law or the certificate of incorporation or the by-laws of the Issuer,
and any amendment to the certificate of incorporation or by-laws of the
Issuer that is submitted to a vote of stockholders for approval and
(vi) proposals submitted to stockholders requiring the Board
of Directors to amend the Issuer's Stockholder Rights Plan, or redeem
rights under that plan, other than a proposal with respect to which the
Issuer has received advice of nationally-recognized legal counsel to
the effect that the proposal is not a proper subject for stockholder
action under Delaware law.
The Trust Agreement contains provisions enabling the Beneficiaries to
withdraw the Shares allocated to them under the Plan and the Trust Agreement for
resale or otherwise and to receive dividends on such Shares.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The Board of Directors of the Issuer, but not in each director's in its
individual capacity, beneficially owns 493,903,472 shares of Common Stock. The
Board of Directors of the Issuer, but not in each director's individual
capacity, is deemed to beneficially own the shares of Common Stock held by the
Trust because the Board will direct the voting of these shares on certain
matters submitted to a vote of stockholders. See Item 4. The amount shown does
not include shares beneficially owned by a director in the director's individual
capacity.
(b) The Board of Directors of the Issuer, but not each director in its
individual capacity, has shared voting power with respect to 493,903,472 shares
of Common Stock.
<PAGE> 6
SCHEDULE 13D
CUSIP No. 59156R108 Page 6 of 15 Pages
(c) There were no transactions in the class of securities reported on that
were effected during the past sixty days by the Reporting Persons, other than
the issuance of the Shares to the Trust. See Item 4.
(d) The Beneficiaries of the Trust have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, the
Shares allocated to them under the Plan and the Trust Agreement. See Item 4.
ITEM 6.
See Item 4.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
Exhibit 1. Plan of Reorganization, dated September 28, 2000, as amended, of
Metropolitan Life Insurance Company (incorporated by reference to
Exhibit 2.1 to MetLife, Inc.'s Registration Statement on Form S-1 (No.
333-91517).
Exhibit 2. MetLife Policyholder Trust Agreement, dated as of November 3, 1999,
by and among Metropolitan Life Insurance Company, MetLife, Inc.,
Wilmington Trust Company and ChaseMellon Shareholder Services, L.L.C.,
as custodian (incorporated by reference to Exhibit 10.2 to MetLife,
Inc.'s Registration Statement on Form S-1 (No. 333-91517).
<PAGE> 7
SCHEDULE 13D
CUSIP No. 59156R108 Page 7 of 15 Pages
SIGNATURES.
After reasonable inquiry and to the best of my knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct.
Dated: April 7, 2000
/s/ Robert H. Benmosche
- ----------------------------------------
Robert H. Benmosche
/s/ Curtis H. Barnette
- ----------------------------------------
Curtis H. Barnette
/s/ Gerald Clark
- ----------------------------------------
Gerald Clark
/s/ Joan Ganz Cooney
- ----------------------------------------
Joan Ganz Cooney
/s/ Burton A. Dole, Jr.
- ----------------------------------------
Burton A. Dole, Jr.
/s/ James R. Houghton
- ----------------------------------------
James R. Houghton
/s/ Harry P. Kamen
- ----------------------------------------
Harry P. Kamen
<PAGE> 8
SCHEDULE 13D
CUSIP No. 59156R108 Page 8 of 15 Pages
/s/ Helene L. Kaplan
- ----------------------------------------
Helene L. Kaplan
/s/ Charles M. Leighton
- ----------------------------------------
Charles M. Leighton
/s/ Allen E. Murray
- ----------------------------------------
Allen E. Murray
/s/ Stewart G. Nagler
- ----------------------------------------
Stewart G. Nagler
/s/ John J. Phelan, Jr.
- ----------------------------------------
John J. Phelan, Jr.
/s/ Hugh B. Price
- ----------------------------------------
Hugh B. Price
/s/ Robert G. Schwartz
- ----------------------------------------
Robert G. Schwartz
/s/ Ruth J. Simmons
- ----------------------------------------
Ruth J. Simmons
<PAGE> 9
SCHEDULE 13D
CUSIP No. 59156R108 Page 9 of 15 Pages
/s/ William C. Steere, Jr.
- ----------------------------------------
William C. Steere, Jr.
<PAGE> 10
SCHEDULE 13D
CUSIP No. 59156R108 Page 10 of 15 Pages
Exhibit 1
JOINT FILING AGREEMENT
Pursuant to Rule 13d-1(k)(1)(iii) promulgated under the Securities Exchange Act
of 1934, as amended, each of the undersigned agrees that the Statement on
Schedule 13D, to which this exhibit is attached, is filed its behalf.
Dated: April 7, 2000
/s/ Robert H. Benmosche
- ----------------------------------------
Robert H. Benmosche
/s/ Curtis H. Barnette
- ----------------------------------------
Curtis H. Barnette
/s/ Gerald Clark
- ----------------------------------------
Gerald Clark
/s/ Joan Ganz Cooney
- ----------------------------------------
Joan Ganz Cooney
/s/ Burton A. Dole, Jr.
- ----------------------------------------
Burton A. Dole, Jr.
/s/ James R. Houghton
- ----------------------------------------
James R. Houghton
<PAGE> 11
SCHEDULE 13D
CUSIP No. 59156R108 Page 11 of 15 Pages
/s/ Harry P. Kamen
- ----------------------------------------
Harry P. Kamen
/s/ Helene L. Kaplan
- ----------------------------------------
Helene L. Kaplan
/s/ Charles M. Leighton
- ----------------------------------------
Charles M. Leighton
/s/ Allen E. Murray
- ----------------------------------------
Allen E. Murray
/s/ Stewart G. Nagler
- ----------------------------------------
Stewart G. Nagler
/s/ John J. Phelan, Jr.
- ----------------------------------------
John J. Phelan, Jr.
/s/ Hugh B. Price
- ----------------------------------------
Hugh B. Price
/s/ Robert G. Schwartz
- ----------------------------------------
Robert G. Schwartz
<PAGE> 12
SCHEDULE 13D
CUSIP No. 59156R108 Page 12 of 15 Pages
/s/ Ruth J. Simmons
- ----------------------------------------
Ruth J. Simmons
/s/ William C. Steere, Jr.
- ----------------------------------------
William C. Steere, Jr.
<PAGE> 13
SCHEDULE 13D
CUSIP No. 59156R108 Page 13 of 15 Pages
Pursuant to Rule 13d-1(k)(1)(iii) promulgated under the Securities Exchange Act
of 1934, as amended, each of the undersigned agrees that the Statement on
Schedule 13D, to which this exhibit is attached, is filed its behalf.
Dated: April 7, 2000
/s/ Robert H. Benmosche
- ----------------------------------------
Robert H. Benmosche
/s/ Curtis H. Barnette
- ----------------------------------------
Curtis H. Barnette
/s/ Gerald Clark
- ----------------------------------------
Gerald Clark
/s/ Joan Ganz Cooney
- ----------------------------------------
Joan Ganz Cooney
/s/ Burton A. Dole, Jr.
- ----------------------------------------
Burton A. Dole, Jr.
/s/ James R. Houghton
- ----------------------------------------
James R. Houghton
/s/ Harry P. Kamen
- ----------------------------------------
Harry P. Kamen
<PAGE> 14
SCHEDULE 13D
CUSIP No. 59156R108 Page 14 of 15 Pages
/s/ Helene L. Kaplan
- ----------------------------------------
Helene L. Kaplan
/s/ Charles M. Leighton
- ----------------------------------------
Charles M. Leighton
/s/ Allen E. Murray
- ----------------------------------------
Allen E. Murray
/s/ Stewart G. Nagler
- ----------------------------------------
Stewart G. Nagler
/s/ John J. Phelan, Jr.
- ----------------------------------------
John J. Phelan, Jr.
/s/ Hugh B. Price
- ----------------------------------------
Hugh B. Price
/s/ Robert G. Schwartz
- ----------------------------------------
Robert G. Schwartz
/s/ Ruth J. Simmons
- ----------------------------------------
Ruth J. Simmons
<PAGE> 15
SCHEDULE 13D
CUSIP No. 59156R108 Page 15 of 15 Pages
/s/ William C. Steere, Jr.
- ----------------------------------------
William C. Steere, Jr.
