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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL 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
[_] Check box if no longer subject to Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
[_] Form 3 Holdings Reported
[_] Form 4 Transactions Reported
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1. Name and Address of Reporting Person*
Sternlicht, Barry S.
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(Last) (First) (Middle)
Starwood Capital Group
777 Westchester Avenue
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(Street)
White Plains NY 10604
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(City) (State) (Zip)
USA
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2. Issuer Name and Ticker or Trading Symbol
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Starwood Hotels & Resorts Worldwide, Inc./Starwood Hotels & Resorts
HOT
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
December 1999
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[X] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
Chairman and CEO
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7. Individual or Joint/Group Reporting
(Check Applicable Line)
[X] Form filed by One Reporting Person
[_] 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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<TABLE>
<CAPTION>
5. 6.
4. Amount of Owner-
Securities Acquired (A) or Securities ship
2. Disposed of (D) Beneficially Form: 7.
Transaction (Instr. 3, 4 and 5) Owned at end Direct Nature of
Date 3. ----------------------------- of Issuer's (D) or Indirect
1. (Month/ Transaction (A) Fiscal Year Indirect Beneficial
Title of Security Day/ Code Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) Year) (Instr. 8) (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
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* If the form is filed by more than one reporting person, see instruction
4(b)(v).
(Over)
Page 1 of 3 SEC 2270(7-96)
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FORM 5 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- Securities Date Securities Price Bene- ity: In-
cise 3. Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- 4. or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Trans- of (D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date action (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ Code 4 and 5) Date Expira- Number ity Year (I) ship
Security Secur- Day/ (Instr. ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) 8) (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Option to $24.0000 01/26/99 A (2) 1,500,000 01/26/03 01/26/09 Shares(1) 1,500,000 1,500,000 D
Purchase
Shares(1)
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Option to $54.6875 04/01/99 J (3) 300,000 (3) 02/17/08 Shares(1) 300,000 2,000,000 D
Purchase
Shares(1)
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</TABLE>
Explanation of Responses:
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**Signature of Reporting Person Date
/s/ Barry S. Sternlicht
** Intentional 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, see Instruction 6 for procedure.
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.
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EXPLANATION OF RESPONSES
Reporting Person Sternlicht, Barry S.
Issuer Name Starwood Hotels & Resorts Worldwide, Inc./ Starwood Hotels &
Resorts
Address Starwood Hotels & Resorts Worldwide, Inc.
777 Westchester Avenue
White Plains, NY 10604
USA
Identification Number
(1) Pursuant to an agreement between Starwood Hotels & Resorts Worldwide, Inc.,
a Maryland corporation (the "Corporation") and Starwood Hotels & Resorts, a
Maryland real estate investment trust (the "Trust" and, together with the
Corporation, "Starwood"), each holder of shares of common stock, par value $.01
per share, of the Corporation (each, a "Corporation Share") owns an equivalent
number of shares of Class B shares of beneficial interest, par value $.01 per
share, of the Trust (each, a "Trust Share"). Corporation Shares and Trust
Shares may be held and traded only in units ("Shares") consisting of one
Corporation Share and one Trust Share.
(2) Under the terms of Starwood's long-term incentive plan (the "LTIP"),
certain Officers may receive a grant of options to purchase Shares at the
discretion of the Options Committee of the Corporation.
(3) Securities reported in this response were transferred from the Reporting
Person pursuant to an agreement dated as of April 1, 1999 between the Reporting
person and various Transferees (the "April Agreement"), as expressly
contemplated by a Non-Qualified Stock Option Agreement dated February 17,
1998, between the Reporting Person and the Trust (the "February Agreement").
The February Agreement give the Reporting Person the right to transfer to
certain officers of Starwood Capital Group, LLC ("SCG") or of the Trust
(including the Reporting Person), the right to purchase from the Trust an
aggregate of up to 500,000 Shares subject to the option granted to the
Reporting Person in the February Agreement. The April Agreement provides that
the right to purchase Shares from the Trust vests at the rate of one-third on
each anniversary of the April Agreement.
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