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FORM 4
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
/ / Check box if no
longer subject to Filed pursuant to Section 16(a) of the Securities
Section 16. Form 4 Exchange Act of 1934, Section 17(a) of the
or Form 5 obligations Public Utility Holding Company Act of 1935
may continue. See or Section 30(f) of the Investment Company
Instruction 1(b). Act of 1940
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<S> <C> <C> <C> <C> <C> <C>
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1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person to
Richardson, Jr., James C. Fresh Foods, Inc. (NASDAQ: FOOD) Issuer (Check all applicable)
- --------------------------------------------- ---------------------------------------------- X Director X 10% Owner
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- ---
P.O. Box 399 Number of Reporting Month/Year X Officer (give Other (Specify
- --------------------------------------------- Person (Voluntary) August 1998 ---- title --- below)
(Street) ------------------ below)
Claremont NC 28610 5. If Amendment, Chief Executive Officer
- --------------------------------------------- Date of Original -------------------------------------
(City) (State) (Zip) (Month/Year)
7. Individual or Joint/Group Filing
------------------ (Check applicable line)
X Form filed by one
---- Reporting Person
Form filed by more than
---- one Reporting Person
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TABLE 1 -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Transac- 4. Securities Acquired (A) 5. Amount of Se- 6. Owner- 7. Nature
(Instr. 3) action tion or Disposed of (D) curities Benefi- ship of In-
Date Code (Instr. 3, 4 and 5) cially Owned at Form: direct
(Instr. 8) End of Month Direct Benefi-
(Month/ (Instr. 3 and 4) (D) or cial
Day/ --------------------------------------- Indirect Owner-
Year) Code V Amount (A) or Price (I) ship
(D) (Instr. 4) (Instr.
4)
Common Stock 8/7/98 P 200(1) A $14
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8/13/98 P 1,600(2) A $13.625
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8/17/98 P 1,400(3) A $13.625
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490,894(4) I by HERTH
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Management, Inc.
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Common Stock 8/12/98 J (5) 62,500(6) D $21.00 0(7) I by Capital
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Factors, Inc.
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Common Stock 18,720(8) I by Columbia
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Hill, LLC
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Common Stock 7,657(9) D
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*If the Form is filed by more than one Reporting Person, see Instruction 4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
(Print or Type Response) (8/96)
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FORM 4 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C> <C> <C>
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1. Title of Derivative 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date Exer- 7. Title and Amount 8. Price
Security sion or action action Derivative cisable and of Underlying of
(Instr. 3) Exercise Date Code Securities Expiration Securities Deriv-
Price of (Month/ (Instr. Acquired (A) Date (Instr. 3 and 4) ative
Deriv- Day/ 8) or Disposed (Month/Day/ Secur-
ative Year) of (D) Year) ity
Security (Instr. 3, (Instr. 5)
4, and 5) -----------------------------------
Date Expira- Amount or
---------------------------- Exer- tion Title Number of
Code V (A) (D) cisable Date Shares
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Option (right to buy)--
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1997 Special Stock
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Option Plan $10.50 (10) 2/23/98 2/23/08 Common Stock 215,000
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<S> <C> <C> <C>
1. Title of Derivative 9. Number of 10. Ownership 11. Nature of
Security Derivative Form of Indirect
(Instr. 3) Securities Derivative Beneficial
Beneficially Security: Ownership
Owned at End Direct (D) (Instr. 4)
of Month or Indirect (I)
(Instr. 4) (Instr. 4)
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Option (right to buy)--
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1997 Special Stock
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Option Plan 215,000 D
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Explanation of Responses:
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. /s/ James C. Richardson, Jr. 9/10/98
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------- -------
**Signature of Reporting Person Date
Note. File three copies of this form, one of which must be manually signed. Page 2
If space provided is insufficient, see Instruction 6 for procedure.
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(1) The Reporting Person is a 22% owner of HERTH Management, Inc. ("HERTH")
and a 40% owner of Columbia Hill, LLC ("Columbia"), which owns 45% of
HERTH. HERTH purchased 500 shares of Common Stock. Pursuant to Rule
l6a-1 of the Securities Exchange Act of 1934 (the "Act"), this filing
shall not be deemed an admission that the Reporting Person is the
beneficial owner of any equity securities covered by this statement.
(2) The Reporting Person is a 22% owner of HERTH and a 40% owner of
Columbia, which owns 45% of HERTH. HERTH purchased 4,000 shares of
Common Stock. Pursuant to Rule l6a-1 of the Act, this filing shall not
be deemed an admission that the Reporting Person is the beneficial
owner of any equity securities covered by this statement.
(3) The Reporting Person is a 22% owner of HERTH and a 40% owner of
Columbia, which owns 45% of HERTH. HERTH purchased 3,500 shares of
Common Stock. Pursuant to Rule l6a-1 of the Act, this filing shall not
be deemed an admission that the Reporting Person is the beneficial
owner of any equity securities covered by this statement.
(4) The Reporting Person is a 22% owner of HERTH, which owns 1,227,235
shares of Common Stock. In addition, the Reporting Person is a 40%
owner of Columbia, which owns 45% of HERTH. Pursuant to Rule l6a-1 of
the Act, this filing shall not be deemed an admission that the
Reporting Person is the beneficial owner of any equity securities
covered by this statement.
(5) The Reporting Person is a 50% owner of Capital Factors, Inc. ("Capital
Factors"), which distributed 125,000 shares of Common Stock to Gregory
A. Edgell in exchange for cancellation of certain indebtedness owed by
Capital Factors to Gregory A. Edgell. Pursuant to Rule 16a-1 of the
Act, this filing shall not be deemed an admission that the Reporting
Person is the beneficial owner of any equity securities covered by this
statement.
(6) The Reporting Person is a 50% owner of Capital Factors, Inc., which
owns no shares after distributing 125,000 shares of Common Stock to
Gregory A. Edgell. Pursuant to Rule l6a-1 of the Act, this filing shall
not be deemed an admission that the Reporting Person is the beneficial
owner of any equity securities covered by this statement.
(7) The Reporting Person is a 50% owner of Capital Factors, Inc., which
owns no shares of Common Stock. Pursuant to Rule l6a-1 of the Act, this
filing shall not be deemed an admission that the Reporting Person is
the beneficial owner of any equity securities covered by this
statement.
(8) The Reporting Person is a 40% owner of Columbia, which owns 46,799
shares of Common Stock. Pursuant to Rule 16a-1 of the Act, this filing
shall not be deemed an admission that the Reporting Person is the
beneficial owner of any equity securities covered by this statement.
(9) Includes 157 shares owned through the Employee Stock Purchase Plan of
the Issuer.
(10) The Board of Directors of the Issuer repriced the options granted under
the 1997 Special Stock Option Plan on August 27, 1998. In such
repricing, the option exercise price was lowered from $16.00 to $10.50.
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