SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)<F1>
Kinark Corporation
(Name of Issuer)
Common Stock, $.10 par value
(Title of class of securities)
494474-10-9
(CUSIP number)
Mark E. Walker
2301 N. Central Expressway, #140, Plano, Texas 75075; (214) 423-3483
(Name, address and telephone number of person
authorized to receive notices and communications)
April 1, 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 [X]. (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 13d-1 (a) for other parties to
whom copies are to be sent.
(Continued on following pages)
(Page 1 of 8 Pages)
[FN]
<F1> 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 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)
[/FN]
SCHEDULE 13D
CUSIP NO. 494478-10-9 13D PAGE 2 OF 8 PAGES
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
The Robert G. and Pauline B. Walker Revocable Trust
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
00
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) OR 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 379,724
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH 10 SHARED DISPOSITIVE POWER
379,724
11 AGGREGATE AMOUNT OF BENEFICIALLY OWNED BY EACH REPORTING PERSON
379,724 (See Item 5(b))
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.3%
14 TYPE OF REPORTING PERSON*
00
<PAGE>
3058 SCHEDULE 13D
CUSIP NO. 494478-10-9 13D PAGE 3 OF 8 PAGES
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
The Pauline B. Walker Revocable Trust A
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
00
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) OR 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 379,724
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH 10 SHARED DISPOSITIVE POWER
379,724
11 AGGREGATE AMOUNT OF BENEFICIALLY OWNED BY EACH REPORTING PERSON
379,724 (See Item 5(b))
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.3%
14 TYPE OF REPORTING PERSON*
00
<PAGE>
3058 SCHEDULE 13D
CUSIP NO. 494478-10-9 13D PAGE 4 OF 8 PAGES
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
The Robert G. Walker Irrevocable Trust B
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
00
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) OR 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 379,724
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH 10 SHARED DISPOSITIVE POWER
379,724
11 AGGREGATE AMOUNT OF BENEFICIALLY OWNED BY EACH REPORTING PERSON
379,724 (See Item 5(b))
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.3%
14 TYPE OF REPORTING PERSON*
00
<PAGE>
3058 SCHEDULE 13D
CUSIP NO. 494478-10-9 13D PAGE 5 OF 8 PAGES
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Pauline B. Walker
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
00
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) OR 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 379,724
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH 10 SHARED DISPOSITIVE POWER
379,724
11 AGGREGATE AMOUNT OF BENEFICIALLY OWNED BY EACH REPORTING PERSON
379,724 (See Item 5(b))
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.3%
14 TYPE OF REPORTING PERSON*
IN
<PAGE>
KINARK CORPORATION
(CUSIP NO. 494474-10-9)
SCHEDULE 13D
By this Amendment No. 6 to Schedule 13D, The Robert G. and Pauline B.
Walker Revocable Trust, The Pauline B. Walker Revocable Trust A, The Robert G.
Walker Irrevocable Trust B, and Pauline B. Walker, individually, hereby amend
the statement on Schedule 13D previously filed on their behalf, as amended by
Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4 and
Amendment No. 5, relating to the common stock, par value $.10 per share (the
"Common Stock"), of Kinark Corporation, a Delaware corporation. Except as
specifically amended by this Amendment No. 6, the Schedule 13D, as amended,
remains in full force and effect. Except as specifically provided herein,
defined terms shall have the meaning specified in the Schedule 13D, as amended.
Item 3 is hereby amended to read in its entirety as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
On April 1, 1996, the Trusts acquired 324,951 shares of Common Stock from
Lee A. Walker at a purchase price of $2.90625 per share, for an aggregate
purchase price of $944,388.84, pursuant to a letter agreement dated April 1,
1996, between and among the Trusts and Lee A. Walker. The Original Trust
acquired 119,965 shares of Common Stock, Trust A acquired 104,000 shares of
Common Stock and Trust B acquired 100,986 shares of Common Stock, for an
aggregate of 324,951 shares. Payment of the purchase price by the Trusts was
set-off against the outstanding principal and accrued and unpaid interest on
three promissory notes, each dated December 22, 1995, made by Lee A. Walker in
favor of the Original Trust, Trust A and Trust B, in the original principal
amounts of $341,150.47, $295,750.00 and $287,178.94, respectively, and the
balance of the purchase price was paid in cash from the property of the Trusts.
Prior to the date of the transaction requiring the filing of this
Amendment No. 6, 54,773 shares of Common Stock were held in an individual
retirement account for the benefit of Pauline B. Walker. The individual
retirement account was originally for the benefit of Robert G. Walker and
Pauline B. Walker became the beneficiary of the individual retirement account
when Robert G. Walker died on August 2, 1991. Pauline B. Walker is the sole
trustee of the Trusts.
The Trusts hold other assets in addition to the Issuer's Common Stock.
Item 4 is hereby amended to read in its entirety as follows:
ITEM 4. PURPOSE OF TRANSACTION.
The Trusts acquired the shares of Common Stock on April 1, 1996, for
investment purposes. The Trusts may purchase additional securities of the
Issuer in the future. The Trusts do not presently have any plans or proposals
which relate to or would result in any of the transactions described in
paragraphs (a) through (j) of Item 4 of Schedule 13D.
Item 5 is hereby amended to read in its entirety as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The Trusts and Pauline B. Walker, individually and as sole trustee of
the Trusts, currently beneficially own 379,724 shares of Common Stock,
representing 6.3% of the currently outstanding shares of Common Stock, as
follows:
The Robert G. and Pauline B. Walker Revocable Trust 119,965
The Pauline B. Walker Revocable Trust A 104,000
The Robert G. Walker Irrevocable Trust B 100,986
Individual Retirement Account for the benefit of Pauline B. Walker 54,733
Total 379,724
(b) Pauline B. Walker is the sole trustee of the Trusts and the
beneficiary of the individual retirement account in which 54,773 shares of
Common Stock are held; as a result, the Trusts and Pauline B. Walker,
individually and as sole trustee of the Trusts, share voting power and
dispositive power with respect to all 379,724 shares of Common Stock.
(c) On April 1, 1996, the Trusts acquired 324,951 shares of Common Stock
from Lee A. Walker at a purchase price of $2.90625 per share, for an aggregate
purchase price of $944,388.84, pursuant to a letter agreement dated April 1,
1996, between and among the Trusts and Lee A. Walker. The Original Trust
acquired 119,965 shares of Common Stock, Trust A acquired 104,000 shares of
Common Stock and Trust B acquired 100,986 shares of Common Stock.
(d) Not applicable.
(e) Not applicable.
<PAGE>
SIGNATURES
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.
April 30, 1996
(Date)
The Robert G. and Pauline B. Walker
Revocable Trust
By: /s/Pauline B. Walker
(Signature)
Pauline B. Walker, Sole Trustee
(Name/Title)
The Pauline B. Walker Revocable Trust A
By: /s/ Pauline B. Walker
(Signature)
Pauline B. Walker, Sole Trustee
(Name/Title)
The Robert G. Walker Irrevocable Trust B
By: /s/ Pauline B. Walker
(Signature)
Pauline B. Walker, Sole Trustee
(Name/Title)
By: /s/ Pauline B. Walker
(Signature)
Pauline B. Walker, Individually
(Name/Title)
