PROSPECTUS SUPPLEMENT TO PROSPECTUS DATED MAY 15, 2000
9,007,659 SHARES
LEGG MASON, INC.
COMMON STOCK
This prospectus supplement supplements and amends the prospectus dated
May 15, 2000, relating to Legg Mason's offering of up to 5,210,000 shares of our
common stock, par value $.10 per share, and registering resales of up to
3,797,659 of these shares of our common stock by affiliates of Perigee Inc.
Neither the Securities and Exchange Commission nor any other regulatory
body has approved or disapproved of these securities or passed upon the accuracy
or adequacy of this prospectus. Any representation to the contrary is a criminal
offense.
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The date of this Prospectus Supplement is May 26, 2000
<PAGE>
SELLING STOCKHOLDERS
The following table provides the names of and the number of shares of
our common stock beneficially owned by certain former stockholders of Perigee
Inc., and the percentage of our outstanding common stock beneficially owned by
each of these stockholders upon completion of the offering or offerings pursuant
to this prospectus, assuming each of these stockholders offers and sells all of
its or his/her respective shares. These stockholders may, however, offer and
sell all, or some or none of their shares of our common stock. The selling
stockholders are not making any representation that any shares covered by this
prospectus will be offered for sale. The respective donees, pledgees and
transferees or other successors in interest of these stockholders may also sell
the shares listed below as being held by the selling stockholders. None of these
stockholders will beneficially own one percent or greater of our outstanding
common stock upon the sale of their shares offered hereby. We will receive no
proceeds from resales of our common stock by the selling stockholders.
<TABLE>
<CAPTION>
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Name of Selling Stockholder Number of Shares Number of Shares Percent of Outstanding
Beneficially Owned(1) Registered for Sale Shares After the
Hereby Offering(2)
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<S> <C> <C> <C>
Clarica Life Insurance Company 1,034,480 1,034,480 *
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D. Alex Wilson 224,034 224,034 *
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Lloyd C. Atkinson 184,212 184,212 *
Sharon Atkinson (3)
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Martin R. Taylor 153,445 153,445 *
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Alexander J. Brown 148,608 148,608 *
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Gert Steffensen 148,608 148,608 *
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Stephen M. Daub 148,608 148,608 *
Theresa Daub (4)
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John Chamberlain 129,258 129,258 *
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Ronald Puskarich 129,258 129,258 *
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David L. H. Yu 129,258 129,258 *
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David H. Butterfield 116,100 116,100 *
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Julie E. Kent 115,326 115,326 *
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Geoffrey W. Logan 78,174 78,174 *
Susan Logan
Karen Styles
Cathy Logan (5)
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Stephen B. Browne 75,078 75,078 *
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S. Keith Lupton 73,530 73,530 *
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D.Walter McCormick 66,564 66,564 *
Barbara McCormick
Margaret McCormick
J. Connor McCormick (6)
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Thomas P. Moynihan 63,855 63,855 *
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Nancy Collins 60,759 60,759 *
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Elizabeth Ng 52,276 52,276 *
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Douglas Dersch 56,115 56,115 *
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David A. Martin 54,954 54,954 *
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Richard Vandermey 54,954 54,954 *
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</TABLE>
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<PAGE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
Name of Selling Stockholder Number of Shares Number of Shares Percent of Outstanding
Beneficially Owned(1) Registered for Sale Shares After the
Hereby Offering(2)
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Paul M. Richardson 53,019 53,019 *
- ---------------------------------------------------------------------------------------------------------------------
Vincent Roy 52,632 52,632 *
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Lisa M. Caswell 50,310 50,310 *
Caswell Family Trust (7)
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Shelly A. McLaughlin 47,988 47,988 *
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Alexander H. Ruus 47,988 47,988 *
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Owen D. Phillips 46,440 46,440 *
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Glen C. Rattray 42,183 42,183 *
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K. Heather Ritchie 38,700 38,700 *
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Marcel Latreille 31,192 31,192 *
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Ken Neely 26,006 26,006 *
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Stephen K. Pawlick 13,932 13,932 *
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Carlee Price 7,740 7,740 *
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Wayne K. Provost 7,740 7,740 *
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John H. Rule 7,740 7,740 *
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Thomas J. Pick 5,805 5,805 *
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William Dimma 2,030 2,030 *
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Derek Ridout 1,449 1,449 *
- ---------------------------------------------------------------------------------------------------------------------
Stella Thompson 1,062 1,062 *
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George Cobbe 869 869 *
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Carole Salomon 869 869 *
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Norman Cunningham 792 792 *
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
* Less than 1%
(1) The selling stockholders currently hold exchangeable shares of Legg Mason
Canada Holdings Limited, which are exchangeable at the holder's option into
shares of our common stock.
(2) Percentage of 58,599,058 shares of our common stock outstanding as of March
31, 2000.
(3) Beneficial ownership is shared by Lloyd C. Atkinson and Sharon Atkinson
through 1102483 Ontario Inc.
(4) Includes 146,054 shares as to which Stephen M. Daub and Theresa Daub share
beneficial ownership through 976859 Ontario Inc., and 2,554 shares beneficially
owned by Stephen M. Daub alone.
(5) Beneficial ownership is shared by Geoffrey W. Logan, Susan Logan, Karen
Styles and Cathy Logan through Kasuca Consulting Ltd.
(6) Includes 48,762 shares as to which D. Walter McCormick, Barbara McCormick,
Margaret McCormick and J. Connor McCormick share beneficial ownership through
Thorin Capital Inc., and 17,802 shares beneficially owned by D. Walter McCormick
alone.
(7) Includes 27,962 shares as to which Lisa Caswell and the Caswell Family Trust
share beneficial ownership through CHAGR Holdings Inc., and 22,348 shares
beneficially owned by Lisa Caswell alone.
PLAN OF DISTRIBUTION
This prospectus supplement covers the resale of 3,797,659 previously
issued shares of our common stock by affiliates of Perigee. Such a resale may be
effected directly or indirectly through brokers or dealers on the New York Stock
Exchange, in the over-the-counter market, on any other securities exchange on
which shares of our common stock are listed or traded, in privately negotiated
transactions or otherwise, at market prices prevailing at the time of sale, at
prices related to such prevailing market prices or at negotiated prices. Such a
resale or redistribution also may be effected through a block trade (which may
involve cross trades) in which the broker or dealer engaged will attempt to sell
the shares as agent but may position and resell a portion of the block as
principal to facilitate the transaction; purchases by a broker or dealer as
principal and resale by such broker or dealer for its own account; exchange
distributions and/or secondary distributions in accordance with the rules of the
New York Stock Exchange; ordinary brokerage transactions and transactions in
which the broker solicits purchasers; an offering at other than a fixed price on
or through the facilities of the New York Stock
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<PAGE>
Exchange or to or through a market maker otherwise than on the New York Stock
Exchange; pledges to lenders as a collateral to secure loans, credit or other
financing arrangements and any subsequent foreclosure thereunder; and any other
legally available means.
In connection with resales or redistributions of our common stock or
otherwise, a selling stockholder may enter into hedging transactions with
brokers, dealers or other financial institutions. In connection with such
transactions, brokers, dealers or other financial institutions may engage in
short sales of our common stock in the course of hedging the positions they
assume with the selling stockholder. A selling stockholder may also sell our
common stock short and redeliver shares to close out such short positions. A
selling stockholder may also enter into option or other transactions with
brokers, dealers or other financial institutions which require the delivery to
such broker, dealer or other financial institution of our common stock covered
hereby, which common stock may be resold by such broker, dealer or other
financial institution pursuant to this prospectus. In effecting sales, brokers
or dealers engaged by a selling stockholder may arrange for other brokers or
dealers to participate. Any public offering price and any discount or
concessions allowed or reallowed or paid to dealers may be changed from time to
time. The broker-dealers participating in such a resale or redistribution may be
deemed "underwriters" within the meaning of the Securities Act, and any profit
on the sale of the shares of our common stock and any commissions received by
any of these broker-dealers may be regarded as underwriting commissions under
the Securities Act of 1933. The shares of our common stock may be sold from time
to time at varying prices determined at the time of sale or at negotiated
prices. The selling stockholders will pay any brokerage commissions and taxes of
any kind (including, without limitation, transfer taxes).
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