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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2 )*
-----
USF&G Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
903290 10 4
- --------------------------------------------------------------------------------
(CUSIP Number)
Michael M. Pastore, Esq., GE Investment Management Incorporated
- --------------------------------------------------------------------------------
3003 Summer Street, Stamford, CT 06904 (203) 326-2300
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
September 26, 1996
- --------------------------------------------------------------------------------
(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 Rule 13d-1(b)(3) or (4), check the following box [ ] .
Check the following box if a fee is being paid with the statement [ ] . (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 20
13d-1(a) for other parties to whom copies are to be sent.
*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.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose 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).
Total Pages 23
SEC 1746 (12-91)
<PAGE>
SCHEDULE 13D
<TABLE>
<S> <C>
CUSIP No. 903290 10 4 Page 2 of 23 Pages
----------------------- ------ ------
- ---------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Trustees of General Electric Pension Trust
I.R.S. # 14-6015763
- ---------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- ---------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- ---------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ---------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
State of New York
- ---------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
3,670,603
SHARES
-----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
None
EACH
-----------------------------------------------------------------
REPORTING
9 SOLE DISPOSITIVE POWER
PERSON
3,670,603
WITH
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- ---------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,670,603 shares or, if the Reporting Persons are deemed to be a group, 5,853,524
shares
- ---------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- ---------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3% or, if the Reporting Persons are deemed to be a group, 4.96%
- ---------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
EP
- ---------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
<TABLE>
<S> <C>
CUSIP No. 903290 10 4 Page 3 of 23 Pages
----------------------- ------ ------
- ------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Private Placement Partners I, Limited Partnership
I.R.S. # 06-1305217
- ------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- ------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- ------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
State of New York
--------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
1,320,501
SHARES
--------------------------------------------------------------------
BENEFICIALLY
8 SHARED VOTING POWER
OWNED BY
EACH None
--------------------------------------------------------------------
REPORTING
9 SOLE DISPOSITIVE POWER
PERSON
WITH
1,320,501
--------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- ------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,320,501 shares or, if the Reporting Persons are deemed to be a group, 5,853,524 shares
- ------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- ------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.1% or, if the Reporting Persons are deemed to be a group, 4.96%
- ------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
EP
- ------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
<TABLE>
<S> <C>
CUSIP No. 903290 10 4 Page 4 of 23 Pages
----------------------- ----- ------
- ------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Mortgage Insurance Company
I.R.S. # 31-0985858
- ------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- ------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
State of North Carolina
- ------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
311,850
SHARES
--------------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY None
EACH
--------------------------------------------------------------------
REPORTING
9 SOLE DISPOSITIVE POWER
PERSON
311,850
WITH
--------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- ------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
311,850 shares, or if the Reporting Persons are deemed to be a group, 5,853,524 shares
- ------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- ------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.26% or, if the Reporting Persons are deemed to be a group, 4.96%
- ------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IC
- ------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
<TABLE>
<S> <C>
CUSIP No. 903290 10 4 Page 5 of 23 Pages
----------------------- ------ ------
- ------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Employers Reinsurance Corporation
I.R.S. # 48-1024691
- ------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- ------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Missouri
--------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
415,800
SHARES
--------------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY None
EACH
REPORTING
--------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
PERSON
415,800
WITH
--------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- ------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
415,800 shares or, if the Reporting Persons are deemed to be a group, 5,853,524 shares
- ------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- ------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.35% or, if the Reporting Persons are deemed to be a group, 4.96%
- ------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IC CO
- ------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
<TABLE>
<S> <C>
CUSIP No. 903290 10 4 Page 6 of 23 Pages
----------------------- ----- ------
- ------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Elfun Trusts
I.R.S. # 13-6067455
- ------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- ------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- ------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
State of New York
- ------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
112,370
SHARES
--------------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY None
EACH
REPORTING
--------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
PERSON
112,370
WITH
--------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- ------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
112,370 shares or, if the Reporting Persons are deemed to be a group, 5,853,524 shares
- ------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- ------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.09% or, if the Reporting Persons are deemed to be a group, 4.96%
- ------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
EP
- ------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
<TABLE>
<S> <C>
CUSIP No. 903290 10 4 Page 7 of 23 Pages
----------------------- ----- ------
- ------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GE Insurance Plan Trust
I.R.S. # 51-0169382
- ------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- ------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- ------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York State
- ------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
22,400
SHARES
--------------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY None
EACH
REPORTING
--------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
PERSON
22,400
WITH
--------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- ------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
22,400 shares of, if the Reporting Persons are deemed to be a group, 5,853,524 shares
- ------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
Not applicable
- ------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.02% or, if the Reporting Persons are deemed to be a group, 4.96%
- ------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
EP
- ------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
<TABLE>
<S> <C>
CUSIP No. 903290 10 4 Page 8 of 23 Pages
----------------------- ----- ------
- ------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Investment Corporation
I.R.S. # 22-2152310
- ------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b)
Not applicable
- ------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
- ------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- ------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
Disclaimed (See 11 below)
SHARES
--------------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH
REPORTING
--------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
PERSON
Disclaimed (See 11 below)
WITH
--------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Beneficial ownership of all shares disclaimed by General Electric Investment Company
- ------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
Not applicable
- ------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Not applicable
- ------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- ------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
<TABLE>
<S> <C>
CUSIP No. 903290 10 4 Page 9 of 23 Pages
------------------------ ------ ------
- ------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GE Investment Management Incorporated
I.R.S. # 06-1238874
- ------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b)
Not applicable
- ------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- ------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- ------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
- ------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
Disclaimed (See 11 below)
--------------------------------------------------------------------
SHARES
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH
--------------------------------------------------------------------
REPORTING
9 SOLE DISPOSITIVE POWER
PERSON
Disclaimed (See 11 below)
WITH
--------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Beneficial ownership of all shares disclaimed by GE Investment Management Incorporated
- ------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
Not applicable
- ------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Not applicable
- ------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- ------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
<TABLE>
<S> <C>
CUSIP No. 903290 10 4 Page 10 of 23 Pages
----------------------- ------ ------
- ------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Company
I.R.S. # 14-0689340
- ------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b)
Not applicable
- ------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
- ------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- ------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York State
- ------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
Disclaimed (See 11 below)
SHARES
--------------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH
--------------------------------------------------------------------
REPORTING
9 SOLE DISPOSITIVE POWER
PERSON
Disclaimed (See 11 below)
WITH
--------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Beneficial ownership of all shares disclaimed by General Electric Company
- ------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
Not applicable
- ------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Not applicable
- ------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- ------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
NOTE: This Amendment No. 2 amends and supplements the Statement on Schedule 13D
- ----
(the "Statement") and Amendment No. 1 filed on February 19, 1992 and May 12,
1996 respectively, with the Securities and Exchange Commission by Trustees of
General Electric Pension Trust, a New York common law trust ("GEPT"), General
Electric Private Placement Partners I, Limited Partnership, a Delaware limited
partnership (the "Partnership"), General Electric Mortgage Insurance Company, a
North Carolina corporation ("GEMIC"), Employers Reinsurance Corporation, a
Missouri corporation ("ERC"), Elfun Trusts, a New York common law trust
("Elfun"), and GE Insurance Plan Trust, a New York common law trust ("GEIPT")
(each such person, except GEIPT, an "Original Reporting Person").
Capitalized terms used and not defined in this Amendment have the
meanings set forth in the Statement.
Item 1. Security and Issuer
- ------- -------------------
Item 1 is hereby amended as follows:
The Reporting Persons have entered into a Joint Filing Agreement,
dated October 9, 1996, attached hereto as Schedule I.
Item 4. Purpose of Transaction
- ------- ----------------------
Item 4 is hereby supplemented as follows:
The Reporting Persons have acquired, or continue to hold, as the
case may be, the Common Stock and Series B Stock as an investment. While the
Reporting Persons have no present intention of seeking control, they will
continue to review their investment in the Company and monitor and evaluate
future development at the Company and, based upon such analysis, may (i) attempt
to acquire additional shares of Common Stock (subject to availability of shares
at prices deemed favorable), (ii) convert their remaining Series B Stock in
whole or in part, or (iii) dispose of shares of Common Stock or Series B Stock
by them or Common Stock received upon conversion of Series B Stock in the open
market, in privately negotiated transactions or otherwise.
Item 5. Interest in Securities of the Issuer
- ------- ------------------------------------
Item 5 is hereby amended as follows:
(a) (i) GEPT has beneficial ownership of 3,670,603 shares of Common
Stock, representing 3% of such class currently outstanding; (ii) the Partnership
has beneficial ownership of 1,320,501 shares of Common Stock, representing 1.1%
of such class currently outstanding; (iii) GEMIC has beneficial ownership of
311,850 shares of Common Stock,
Page 11 of 23 Pages
<PAGE>
representing .26% of such class currently outstanding; (iv) ERC has beneficial
ownership of 415,800 shares of Common Stock, representing .35% of such class
currently outstanding; (v) Elfun has beneficial ownership of 112,370 shares of
Common Stock, representing .09% of such class currently outstanding; (vi) GEIPT
has beneficial ownership 22,400 shares of Common Stock, representing .02% of
such class currently outstanding; (vii) GEIM, GEIC, and GE disclaim beneficial
ownership of all shares. If the Reporting Persons are deemed to be a group for
the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, and
upon conversion of the Series B Stock, if the Reporting Persons are deemed to be
a group, they will beneficially own 5,853,524 shares of Common Stock or
approximately 4.96% of the issued and outstanding shares of Common Stock based
on the 117,844,371 shares of Common Stock, which the Company's 10-Q states were
outstanding as of August 9, 1996.
The Partnership has sold 138,300 shares of Common Stock in the open
market through Rule 144 transactions as follows:
DATE OF SALE NUMBER OF SHARES SOLD
----------------------------------------------------
September 26, 1996 41,000
September 27, 1996 32,500
September 30, 1996 18,900
October 1, 1996 5,900
October 2, 1996 20,000
October 4, 1996 20,000
The Partnership may continue to make dispositions of the remaining portion of
its holdings of Common Stock or Series B Stock or Common Stock received upon
conversion of such Series B Stock in Rule 144 transactions or otherwise.
In addition, to date, the following entities have sold 2,100,800 shares
of Common Stock in private sales to USF&G Corporation:
NUMBER OF
ENTITY DATE OF SALE SHARES SOLD
------------------------------------------------------
Partnership 10/2/96 250,000
Partnership 9/26/96 400,000
GEMIC 9/5/96 935,000
ELFUN 9/26/96 100,000
ERC 10/9/96 415,800
Page 12 of 23 Pages
<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, correct and
complete.
Pursuant to Rule 13d-1(f)(1), the undersigned joins in the filing of this
Amendment No. 1 on its own behalf.
TRUSTEES OF GENERAL ELECTRIC PENSION TRUST
By: /s/ John H. Myers
-------------------------------
Name: John H. Myers
Title: Trustee
Dated: October 9, 1996
Page 13 of 23 Pages
<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, correct and
complete.
Pursuant to Rule 13d-1(f)(1), the undersigned joins in the filing of this
Amendment No. 1 on its own behalf.
GE INVESTMENT PRIVATE PLACEMENT
PARTNERS I, LIMITED PARTNERSHIP
By: GE Investment Management
Incorporated, Its General Partner
By: /s/ John H. Myers
----------------------------------
Name: John H. Myers
Title: Executive Vice President
Dated: October 9, 1996
Page 14 of 23 Pages
<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, correct and
complete.
Pursuant to Rule 13d-1(f)(1), the undersigned joins in the filing of this
Amendment No. 1 on its own behalf.
GENERAL ELECTRIC MORTGAGE INSURANCE
CORPORATION
By: General Electric Investment
Corporation, Its Investment
Manager
By: /s/ John H. Myers
----------------------------------
Name: John H. Myers
Title: Executive Vice President
Dated: October 9, 1996
Page 15 of 23 Pages
<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, correct and
complete.
Pursuant to Rule 13d-1(f)(1), the undersigned joins in the filing of this
Amendment No. 1 on its own behalf.
EMPLOYERS REINSURANCE CORPORATION
By: General Electric Investment
Corporation, Its Investment
Manager
By: /s/ John H. Myers
---------------------------
Name: John H. Myers
Title: Executive Vice President
Dated: October 9, 1996
Page 16 of 23 Pages
<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, correct and
complete.
Pursuant to Rule 13d-1(f)(1), the undersigned joins in the filing of this
Amendment No. 1 on its own behalf.
ELFUN TRUSTS
By: /s/ John H. Myers
---------------------------------
Name: John H. Myers
Title: Trustee
Dated: October 9, 1996
Page 17 of 23 Pages
<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, correct and
complete.
Pursuant to Rule 13d-1(f)(1), the undersigned joins in the filing of this
Amendment No. 1 on its own behalf.
GE INSURANCE PLAN TRUST
By: /s/ John H. Myers
----------------------
Name: John H. Myers
Title: Trustee
Dated: October 9, 1996
Page 18 of 23 Pages
<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, correct and
complete.
Pursuant to Rule 13d-1(f)(1), the undersigned joins in the filing of this
Amendment No. 1 on its own behalf.
GE INVESTMENT MANAGEMENT
INCORPORATED
By: /s/ John H. Myers
-----------------------------
Name: John H. Myers
Title: Executive Vice President
Dated: October 9, 1996
Page 19 of 23 Pages
<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, correct and
complete.
Pursuant to Rule 13d-1(f)(1), the undersigned joins in the filing of this
Amendment No. 1 on its own behalf.
GENERAL ELECTRIC INVESTMENT
CORPORATION
By: /s/ John H. Myers
-------------------------
Name: John H. Myers
Title: Executive Vice President
Dated: October 9, 1996
Page 20 of 23 Pages
<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, correct and
complete.
Pursuant to Rule 13d-1(f)(1), the undersigned joins in the filing of this
Amendment No. 1 on its own behalf.
GENERAL ELECTRIC COMPANY
By: /s/ Dale F. Frey
---------------------------
Name: Dale F. Frey
Title: Vice President
Dated: October 9, 1996
Page 21 of 23 Pages
<PAGE>
Schedule I
----------
Joint Filing Agreement
----------------------
The undersigned parties hereby agree that the Amendment No. 2 to the
Schedule 13D filed herewith is being filed jointly with the Securities and
Exchange Commission pursuant to Section 13-d-1(f)(1) on behalf of each such
person.
Dated October 9, 1996
TRUSTEES OF GENERAL ELECTRIC
PENSION TRUST
By /s/ John H. Myers
------------------------
Name: John H. Myers
Title: Trustee
GENERAL ELECTRIC PRIVATE PLACEMENT
PARTNERS I, LIMITED PARTNERSHIP
By /s/ John H. Myers
----------------------------------------
Name: John H. Myers
Title: Executive Vice President
GENERAL ELECTRIC MORTGAGE INSURANCE COMPANY
By /s/ John H. Myers
----------------------------------------
Name: John H. Myers
Title: Executive Vice President
EMPLOYERS REINSURANCE CORPORATION
By /s/ John H. Myers
----------------------------------------
Name: John H. Myers
Title: Executive Vice President
Page 22 of 23 Pages
<PAGE>
ELFUN TRUSTS
By /s/ John H. Myers
----------------------------------------
Name: John H. Myers
Title: Trustee
GE INSURANCE PLAN TRUST
By /s/ John H. Myers
----------------------------------------
Name: John H. Myers
Title: Trustee
GENERAL ELECTRIC INVESTMENT CORPORATION
By /s/ John H. Myers
----------------------------------------
Name: John H. Myers
Title: Executive Vice President
GE INVESTMENT MANAGEMENT INCORPORATED
By /s/ John H. Myers
----------------------------------------
Name: John H. Myers
Title: Executive Vice President
GENERAL ELECTRIC COMPANY
By /s/ Dale F. Frey
----------------------------------------
Name: Dale F. Frey
Title: Vice President
Page 23 of 23 Pages
