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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. 1)
MARQUETTE MEDICAL SYSTEMS, INC.
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(Name of Issuer)
CLASS A COMMON STOCK
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(Title of Class of Securities)
571474 10 5
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(CUSIP Number)
Michael J. Cudahy
8200 W. Tower Avenue,
Milwaukee, Wisconsin 53223,
414/355-5000
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
March 7, 1997
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(Date of Event which Requires Filing of this Statement)
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CUSIP NO. 571474 10 5 Page 2 of 2 pages
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Michael J. Cudahy, 8200 W. Tower Avenue, Milwaukee, WI 53223
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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:
N/A
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5. Check Box if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e):[_] N/A
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6. Citizenship or Place of Organization:
U.S.A.
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7. Sole Voting Power:
NUMBER OF 3,246,176 shares
SHARES -----------------------------------------------------------
8. Shared Voting Power:
BENEFICIALLY
None
OWNED BY
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EACH 9. Sole Dispositive Power:
REPORTING 3,246,176 shares
PERSON -----------------------------------------------------------
10. Shared Dispositive Power:
WITH
None
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11. Aggregate Amount Beneficially Owned by Each Reporting Person:
3,246,176 shares
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12. Check Box if The Aggregate Amount in Row (11) Excludes Certain Shares:
N/A
[_]
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13. Percent of Class Represented by Amount in Row (11):
18.9%
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14. Type Of Reporting Person:
IN
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ITEM 1 - SECURITY AND ISSUER
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CLASS A COMMON SHARES, $0.10 par value
NAMES AND ADDRESSES OF PRINCIPAL EXECUTIVE OFFICERS OF THE ISSUER OF SUCH
SECURITIES:
Michael J. Cudahy, Chairman of the Board,
8200 W. Tower Avenue, Milwaukee, WI 53223
Timothy C. Mickelson, President and Chief Operating Officer
8200 W. Tower Avenue, Milwaukee, WI 53223
Mary M. Kabacinski, Senior Vice President and Chief Financial Officer
8200 W. Tower Avenue, Milwaukee, WI 53223
ITEM 2 - IDENTITY AND BACKGROUND
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(a) Michael J. Cudahy
(b) 8200 W. Tower Avenue, Milwaukee, WI 53223
(c) Chairman of the Board, Marquette Medical Systems, Inc.
8200 W. Tower Avenue, Milwaukee, WI 53223
(d) N/A
(e) N/A
(f) U.S.A.
ITEM 3 - SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
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N/A
ITEM 4 - PURPOSE OF TRANSACTION
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N/A
ITEM 5 - INTEREST IN SECURITIES OF ISSUER
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(a) Michael J. Cudahy, 3,246,176 Class A Common Shares
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(b) Sole Power to Vote or Direct the Vote and Sole Power to Dispose or
Direct the Disposition of shares: 3,246,176 shares
(c) On March 6, 1997 Michael J. Cudahy sold 1,000,000 Class A Common Shares
in an underwritten sale of shares registered under the Securities Act
of 1933
(d) N/A
(e) N/A
ITEM 6 - CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
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Michael J. Cudahy is Chairman of the Board of the Issuer. Under Agreement
dated April 6, 1992, the issuer is obliged to purchase from the executor of Mr.
Cudahy's estate, within 150 days following the death of Mr. Cudahy, Class A
Common Shares having a value of up to $4,000,000.
ITEM 7 - MATERIAL TO BE FILED AS EXHIBITS
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(a) Post-Death Option Agreement dated April 6, 1992, between Michael J.
Cudahy and Issuer.
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.
March 20, 1997
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Michael J. Cudahy
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EXHIBIT 7(a)
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POST-DEATH OPTION AGREEMENT
THIS AGREEMENT, made and entered into this 6th day of April, 1992, by and
between MARQUETTE ELECTRONICS, INC., a Wisconsin corporation (hereinafter called
the "Corporation"), and MICHAEL J. CUDAHY, of Ocean Ridge, Florida (hereinafter
called the "Stockholder");
W I T N E S S E T H:
WHEREAS,
A. The Stockholder is an employee of the Corporation, the owner of a
substantial number of shares of the Corporation's Class A common stock and a
party to a certain Post-Death Redemption Agreement with the Corporation dated
December 19, 1985 (the "Redemption Agreement") pursuant to which the Corporation
has agreed to purchase and the Stockholder, through his estate, has agreed to
sell $8,000,000 worth of the Corporation's Class A common stock following the
Stockholder's death; and
B. The Corporation has requested that the Redemption Agreement be cancelled
and replaced by this Agreement and the Stockholder has agreed to such request;
NOW, THEREFORE, in consideration of the mutual covenants herein contained,
the continued employment by the Corporation of the Stockholder and the mutual
cancellation of that Redemption Agreement, the parties agree as follows:
1. Following the death of the Stockholder, the Corporation agrees to
purchase from the estate of the Stockholder (or from any trust created by the
Stockholder during his lifetime which was revocable as of the date of the
Stockholder's death) such amount of shares of the Corporation's Class A common
stock (hereinafter sometimes referred to as "Shares") as the representative of
his estate may, at the representative's option, elect to sell by written notice
(the "Election Notice") delivered to the Corporation, within one hundred fifty
(150) days following the Stockholder's death, setting forth the number of Shares
to be sold and the date of closing (the "Closing Date"), provided that (a) the
Corporation shall in no event be obliged to purchase that number of Shares which
(i) will cause the aggregate purchase price to exceed Four Million ($4,000,000)
Dollars; or (ii) which exceeds that number of Shares beneficially owned by the
Stockholder as of the date of his death and (b) the Closing Date (without the
written consent of the Corporation) shall not be less than thirty (30) days
following delivery of the Election Notice nor more than two hundred ten (210)
days following the date of the Stockholder's death. The delivery of the Election
Notice to the Corporation by the representative of the estate of the Stockholder
shall create a binding contract between the Corporation and the Stockholder's
estate.
