SCHEDULE 13D
Amendment No. 14
Quantum Corporation
common stock
Cusip # 747906105
Filing Fee: No
Cusip # 747906105
Item 1: Reporting Person - FMR Corp. - (Tax ID: 04-2507163)
Item 4: PF
Item 6: Commonwealth of Massachusetts
Item 7: 55,237
Item 8: None
Item 9: 3,937,039
Item 10: None
Item 11: 3,937,039
Item 13: 9.01%
Item 14: HC
PREAMBLE
The Schedule 13D, dated March 26, 1992, and amended June 19, 1992,
October 8, 1992, October 15, 1992, October 29, 1992, December 10, 1992,
December 15, 1992, February 18, 1993, March 3, 1993, May 25, 1993, September
21, 1993, October 5, 1993, October 27, 1993, and october 28, 1993, filed by
FMR Corp. ("FMR") with respect to the common stock, $0.01 par value per share
(the "Shares") of Quantum Corp. (the "Company") is hereby amended as set forth
below. The shares to which it relates are owned by six funds managed by
Fidelity Management & Research Company, and twenty-one pension funds managed
by Fidelity Management Trust Company.
Item 1. Security and Issuer.
Item 2. Identity and Background.
This statement is being filed by FMR Corp., a Massachusetts Corporation
("FMR"). FMR is a holding company one of whose principal assets is the capital
stock of a wholly-owned subsidiary, Fidelity Management & Research Company
("Fidelity"), which is also a Massachusetts corporation. Fidelity is an
investment adviser which is registered under Section 203 of the Investment
Advisers Act of 1940 and which provides investment advisory services to more
than 30 investment companies which are registered under Section 8 of the
Investment Company Act of 1940 and serves as investment adviser to certain
other funds which are generally offered to limited groups of investors (the
"Fidelity Funds"). Fidelity Management Trust Company ("FMTC"), a wholly-owned
subsidiary of FMR Corp. and a bank as defined in Section 3(a)(6) of the
Securities Exchange Act of 1934, serves as trustee or managing agent for
various private investment accounts, primarily employee benefit plans and
serves as investment adviser to certain other funds which are generally
offered to limited groups of investors (the "Accounts"). Various directly or
indirectly held subsidiaries of FMR are also engaged in investment management,
venture capital asset management, securities brokerage, transfer and
shareholder servicing and real estate development. The principal offices of
FMR, Fidelity, and FMTC are located at 82 Devonshire Street, Boston,
Massachusetts 02109.
Edward C. Johnson 3d owns 34.0% of the outstanding voting common stock
of FMR. Mr. Johnson 3d is Chairman of FMR Corp. The business address and
principal occupation of Mr. Johnson 3d is set forth in Schedule A hereto.
The Shares to which this statement relates are owned directly by six of
the Fidelity Funds, and by twenty-one Accounts.
The name, residence or business address, principal occupation or
employment and citizenship of each of the executive officers and directors of
FMR are set forth in Schedule A hereto.
Within the past five years, none of the persons named in this Item 2 or
listed on Schedule A has been convicted in any criminal proceeding (excluding
traffic violations or similar misdemeanors) or has been a party to any civil
proceeding and as a result thereof was or is subject to any judgment, decree
or final order enjoining future violations of, or prohibiting or mandating
activities subject to federal or state securities laws or finding any
violations with respect to such laws.
Item 3. Source and Amount of Funds or Other Considerations.
The Fidelity Funds which own or owned shares purchased in the aggregate
18,481,325 shares for cash in the amount of approximately $266,072,349,
including brokerage commissions. Proceeds from 14,616,604 shares sold
aggregated approximately $218,815,952. The Funds used their own assets in
making such purchase and no part of the purchase price is represented by
borrowed funds. The attached Schedule B sets forth shares purchased and/or
sold since April 8, 1994.
The pension funds of FMTC which own or owned shares purchased in the
aggregate 959,595 shares for cash in the amount of approximately $14,966,915,
including brokerage commissions. Proceeds from 880,665 shares sold aggregated
approximately $13,427,194. The pension funds used their own assets in making
such purchases and no part of the purchase price is represented by borrowed
funds. The attached Schedule B sets forth shares purchased and/or sold since
April 8, 1994.
Item 4. Purpose of Transaction.
The purpose of Fidelity and FMTC in having the Fidelity Funds and the
Accounts purchase Shares (see Item 5 below) is to acquire an equity interest
in the Company in pursuit of specified investment objectives established by
the Board of Trustees of the Fidelity Funds and the Accounts.
Fidelity and FMTC, respectively, may continue to have the Fidelity Funds
and the Accounts purchase Shares subject to a number of factors, including,
among others, the availability of Shares of sale at what they consider to be
reasonable prices and other investment opportunities that may be available to
the Fidelity Funds and Accounts.
Fidelity and FMTC, respectively, intend to review continuously the
equity position of the Fidelity Funds and Accounts in the Company. Depending
upon future evaluations of the business prospects of the Company and upon
other developments, including, but not limited to, general economic and
business conditions and money market and stock market conditions, Fidelity may
determine to cease making additional purchases of Shares or to increase or
decrease the equity interest in the Company by acquiring additional Shares, or
by disposing of all or a portion of the Shares.
Neither Fidelity nor FMTC has any present plan or proposal which relates
to or would result in (i) an extraordinary corporate transaction, such as a
merger, reorganization, liquidation, or sale of transfer of a material amount
of assets involving the Company or any of its subsidiaries, (ii) any change in
the Company's present Board of Directors or management, (iii) any material
changes in the Company's present capitalization or dividend policy or any
other material change in the Company's business or corporate structure, (iv)
any change in the Company's charter or by-laws, or (v) the Company's common
stock becoming eligible for termination of its registration pursuant to
Section 12(g)(4) of the 1934 Act.
Item 5. Interest in Securities of Issuer.
Although Item 5 assumes that FMR, Fidelity, and FMTC, beneficially own
all 3,937,039 shares, reference is made to Item 2 for a disclaimer of
beneficial ownership with respect to the securities which are "beneficially
owned" by the other corporations.
(a) FMR beneficially owns, through Fidelity, as investment adviser to
the Fidelity Funds, 3,864,721 shares, or approximately 8.85% of the
outstanding shares of the Company and through FMTC, 72,318 shares, or
approximately 0.17% of the outstanding shares of the Company. The number of
shares held by the Fidelity Funds and FMTC includes 70,419 shares of common
stock resulting from the assumed conversion of $1,278,000 principal amount of
the 6.375% convertible subordinated debenture (55.10 shares of common stock
for each $1,000 principal amount of the debenture). Neither FMR, Fidelity,
FMTC, nor any of its affiliates nor, to the best knowledge of FMR, any of the
persons named in Schedule A hereto, beneficially owns any other shares. The
combined holdings of FMR, Fidelity, and FMTC are 3,937,039 shares, or
approximately 9.01% of the outstanding shares of the Company.
(b) FMR, through its control of Fidelity, investment adviser to the
Fidelity Funds, and the Funds each has sole power to dispose of the shares.
Neither FMR nor Mr. Johnson has the sole power to vote or direct the voting of
the 3,864,721 shares owned directly by the Fidelity Funds, which power resides
with the Funds' Boards of Trustees. Fidelity carries out the voting of the
shares under written guidelines established by the Funds' Boards of Trustees.
FMTC has sole dispositive power over 72,318 shares held by the pension funds
and sole voting power over 55,237 shares and no voting power over 68,267
shares.
(c) Except as set forth in Schedule B, neither FMR, or any of its
affiliates, nor, to the best knowledge of FMR, any of the persons named in
Schedule A hereto has effected any transaction in shares during the past sixty
(60) days.
Item 6. Contract, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer.
This statement speaks as of its date, and no inference should be drawn
that no change has occurred in the facts set forth herein after the date
hereof.
Item 7. Material to be Filed as Exhibits.
Not applicable.
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.
FMR Corp.
Date: June 21, 1994 By: /s/Arthur S. Loring
Arthur S. Loring
Vice President - Legal
Schedule A
The name and present principal occupation or employment of each
executive officer and director of FMR Corp. are set forth below. The business
address of each person is 82 Devonshire Street, Boston, Massachusetts 02109,
and the address of the corporation or organization in which such employment is
conducted is the same as his business address. All of the persons listed
below are U.S. citizens.
POSITION WITH
PRINCIPAL
NAME FMR CORP. OCCUPATION
Edward C. Johnson 3d President, Director, Chairman of
the Board
CEO, Chairman & and CEO, FMR
Mng. Director
J. Gary Burkhead Director President-
Fidelity
Caleb Loring, Jr. Director, Mng. Director Director,
FMR
James C. Curvey Director, Sr. V.P. Sr.
V.P., FMR
William L. Byrnes Vice Chairman, Vice Chairman, FIL
Director & Mng. Director
Robert C. Pozen Sr. V.P. & Gen'l Counsel Sr.
V.P. & Gen'l Counsel
FMR
Mark Peterson Exec., V.P.-Management Exec., V.P.-
Managmeent
Resources Resources, FMR
Denis McCarthy Sr. Vice Pres. - Administration Vice
Pres., Chief
Chief Financial Officer Financial Officer,
FMR
SCHEDULE B
Quantum Corp.
Four Fidelity Funds purchased shares since April 8, 1994 at the dates and at
the prices set forth below. The transactions were made for cash in open
market transactions or with other investment companies with the same or an
affiliated investment advisor.
DATE SHARES PRICE
05-13-94 157,000 $13.83
05-24-94 120,000 15.50
05-25-94 100,000 15.85
05-26-94 100,000 16.31
05-27-94 100,000 15.75
05-31-94 50,00 16.19
06-01-94 407,000 16.62
06-03-94 100,600 16.06
SCHEDULE B
Quantum Corp.
Nine Fidelity Funds sold shares since April 8, 1994 at the dates and at the
prices set forth below. The transactions were made for cash in open market
transactions or with other investment companies with the same or an affiliated
investment advisor.
DATE SHARES PRICE
05-11-94 383,800 $14.62
05-17-94 100,000 13.64
05-20-94 200,000 15.13
05-23-94 150,000 15.00
05-27-94 200,000 15.75
06-03-94 570,500 16.02
06-06-94 300,000 15.63
06-06-94 2,204 **18.56
06-07-94 325,000 14.26
06-08-94 300,000 13.91
06-09-94 250,000 13.35
** This number represents 2,204 shares of common stock as a result of the
conversion of $40,000 principal amount of the 6.75% convertible subordinated
debenture.
SCHEDULE B
Quantum Corp.
Seventeen Accounts sold shares since April 8, 1994 at the dates and at the
prices set forth below. The transactions were made for cash in open market
transactions or with other investment companies with the same or an affiliated
investment advisor.
DATE SHARES PRICE
06-06-94 107,996 $18.56
