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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 20)
Sterling Software, Inc.
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(NAME OF ISSUER)
Common Stock, par value $0.10 per share
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(TITLE OF CLASS OF SECURITIES)
859547-10-1
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(CUSIP NUMBER)
Michael C. French
901 Main Street, Suite 6000
Dallas, Texas 75202
(214) 953-6000
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(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
May 2, 1994
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(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 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).
Page 1 of 11 Pages
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CUSIP NO. 859547-10-1 13D PAGE 2 OF 11 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sam Wyly ###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /x/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES 334,100
BENEFICIALLY
---------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 300,000
REPORTING ---------------------------------------------
9 SOLE DISPOSITIVE POWER
PERSON 634,100
WITH ---------------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
934,100
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.6%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 859547-10-1 13D PAGE 3 OF 11 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Charles J. Wyly, Jr. ###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /x/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES 625,444
BENEFICIALLY
-----------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 300,000
REPORTING
-----------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 775,444
-----------------------------------------
10 SHARED DISPOSITIVE POWER
300,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,075,444
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 859547-10-1 13D PAGE 4 OF 11 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Maverick Entrepreneurs Fund, Ltd. (f/k/a First Dallas Limited)
75-231-9145
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /x/
(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) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 300,000
-----------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 0
-----------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
300,000
-----------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.5%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP NO. 859547-10-1 13D PAGE 5 OF 11 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Wyly Group
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /x/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,259,544
-----------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 0
-----------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
1,709,544
-----------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,709,544
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.3%
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14 TYPE OF REPORTING PERSON*
IN, PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP NO. 859547-10-1 13D PAGE 6 OF 11 PAGES
Pursuant to Rule 13d-2(c) of the Act, this Schedule 13D is being amended
and restated in its entirety.
Item 1. SECURITY AND ISSUER.
This statement relates to the Common Stock, $.10 par value per share
(the "Common Stock"), of Sterling Software, Inc., a Delaware corporation (the
"Company"). The address of the principal executive offices of the Company is
8080 North Central Expressway, Suite 1100, Dallas, Texas 75206.
Item 2. IDENTITY AND BACKGROUND.
The names of the persons filing this statement are Sam Wyly, Charles
J. Wyly, Jr. and Maverick Entrepreneurs Fund, Ltd. ("Maverick
Entrepreneurs"), a limited partnership formerly known as First Dallas
Limited, of which Sam Wyly and Charles J. Wyly, Jr. are the only general
partners. Sam Wyly, Charles J. Wyly, Jr., and Maverick Entrepreneurs are
sometimes collectively referred to herein as the "Reporting Persons." The
principal business and office address of each of the Reporting Persons is
8080 North Central Expressway, Suite 1300, Dallas, Texas 75206. Sam Wyly is
principally employed as Chairman of the Board of Directors of each of the
Company and Michaels Stores, Inc. and is the Chief Executive Officer of
Michaels Stores, Inc. Charles J. Wyly, Jr. is principally employed as Vice
Chairman of the Board of Directors of each of the Company and Michaels
Stores, Inc. The principal business address of Michaels Stores, Inc. is 5931
Campus Circle Drive, Las Colinas Business Park, Irving, Texas 75063.
No Reporting Person has, during the last five years, been convicted in
a criminal proceeding (excluding traffic violations or similar misdemeanors).
No Reporting Person has, during the last five years, been a party to a
civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a
judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
Sam Wyly and Charles J. Wyly, Jr. are citizens of the United States.
Maverick Entrepreneurs is a Texas limited partnership.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
As further described in Item 5 herein, on January 31, 1994, certain trusts
of which Sam Wyly is trustee exercised warrants to purchase an aggregate of
53,728 shares of Common Stock. The exercise price was paid out of available
funds. Also as further described in Item 5 herein, on January 31, 1994,
certain trusts of which Charles J. Wyly, Jr. is trustee exercised warrants
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CUSIP NO. 859547-10-1 13D PAGE 7 OF 11 PAGES
to purchase an aggregate of 98,320 shares of Common Stock. The exercise
price was paid out of available funds.
The options described in Item 5 as held by Sam Wyly and Charles J. Wyly, Jr.
were previously granted to Sam Wyly and Charles J. Wyly, Jr. under the Company's
1992 Non-Statutory Stock Option Plan.
Item 4. PURPOSE OF TRANSACTION.
The shares of Common Stock acquired by the Reporting Persons were acquired
for investment. Depending on market conditions and other factors they may
deem material to an investment decision, any of the Reporting Persons may
purchase additional shares of Common Stock or may dispose of all or a portion
of the shares of Common Stock they now beneficially own or may hereafter
acquire. Except as set forth in this Item 4, none of the Reporting Persons
has any present plans or proposals that relate to or would result in any of
the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D.
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
On January 31, 1994, two trusts of which Sam Wyly is trustee exercised
warrants to purchase an aggregate of 53,728 shares of Common Stock, as
detailed below:
<TABLE>
<CAPTION>
TYPE OF NUMBER OF
WARRANT SHARES
NAME OF TRUST EXERCISED PURCHASED
------------- --------- ---------
<S> <C> <C>
1. The Laurie L. Wyly Revocable Trust Series B 17,864
Series F 9,000
2. The Lisa Wyly Revocable Trust Series B 17,864
Series F 9,000
</TABLE>
On January 31, 1994, five trusts of which Charles J. Wyly, Jr. is trustee
exercised warrants to purchase an aggregate of 98,320 shares of Common Stock,
as detailed below:
<TABLE>
<CAPTION>
TYPE OF NUMBER OF
WARRANT SHARES
NAME OF TRUST EXERCISED PURCHASED
------------- --------- ---------
<S> <C> <C>
1. The Martha Caroline Wyly Trust Series B 17,864
2. The Charles J. Wyly, III Trust Series B 17,864
3. The Emily Ann Wyly Trust Series B 17,864
4. The Sam Wyly and Rosemary Wyly Series B 17,864
Children's Trust No. 1 of 1965 for the Series F 9,000
benefit of Kelly Wyly
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CUSIP NO. 859547-10-1 13D PAGE 8 OF 11 PAGES
5. The Jennifer Lynn Wyly Series B 17,864
Trust
</TABLE>
On July 1, 1993, Sam Wyly was granted an option to purchase 300,000 shares
of Common Stock, which option will become fully exercisable on July 1, 1994.
As a result, Sam Wyly is deemed to have become the beneficial owner of 300,000
additional shares of Common Stock on May 2, 1994.
On July 1, 1993, Charles J. Wyly, Jr. was granted an option to purchase
150,000 shares of Common Stock, which option will become fully exercisable on
July 1, 1994. As a result, Charles J. Wyly, Jr. is deemed to have become the
beneficial owner of 150,000 additional shares of Common Stock on May 2, 1994.
OWNERSHIP
Sam Wyly beneficially owns 934,100 shares, or 4.6%, of the Common Stock of
the Company. Sam Wyly beneficially owns 300,000 of such shares by virtue of
his ownership of options, beneficially owns 138,612 of such shares as sole
general partner of Tallulah, Ltd., beneficially owns 300,000 of such shares
as a general partner of Maverick Entrepreneurs and beneficially owns an
aggregate of 195,488 of such shares as trustee of the trusts listed below:
<TABLE>
<CAPTION>
NUMBER OF SHARES
NAME OF TRUST BENEFICIALLY OWNED
------------- ------------------
<S> <C>
1. The Christiana Parker Wyly Trust 34,890
2. The Andrew David Sparrow Wyly Trust 34,890
3. The Laurie L. Wyly Revocable Trust 63,954
4. The Lisa Wyly Revocable Trust 61,754
</TABLE>
Sam Wyly possesses sole voting power with respect to 334,100 shares of
Common Stock, sole dispositive power with respect to 634,100 shares of Common
Stock and shared voting and dispositive power with respect to 300,000 shares
of Common Stock.
Charles J. Wyly, Jr. beneficially owns 1,075,444 shares, or 5.3%, of the
Common Stock of the Company. Charles Wyly beneficially owns 150,000 of such
shares by virtue of his ownership of options, beneficially owns 256,574 of
such shares as sole general partner of Brush Creek, Ltd., beneficially owns
300,000 of such shares as a general partner of Maverick Entrepreneurs, and
beneficially owns an aggregate of 368,870 of such shares as trustee of the
trusts listed below:
<TABLE>
<CAPTION>
NUMBER OF SHARES
NAME OF TRUST BENEFICIALLY OWNED
------------- ------------------
<S> <C>
1. The Martha Caroline Wyly Trust 76,754
2. The Charles J. Wyly, III Trust 76,754
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CUSIP NO. 859547-10-1 13D PAGE 9 OF 11 PAGES
3. The Emily Ann Wyly Trust 76,754
4. The Sam Wyly and Rosemary Wyly 61,854
Children's Trust No. 1 of 1965
for the benefit of Kelly Wyly
5. The Jennifer Lynn Wyly Trust 76,754
</TABLE>
Charles J. Wyly, Jr. possesses sole voting power with respect to 625,444
shares of Common Stock, sole dispositive power with respect to 775,444 shares of
Common Stock and shared voting and dispositive power with respect to 300,000
shares of Common Stock.
Maverick Entrepreneurs beneficially owns and possesses sole voting and
dispositive power with respect to 300,000 shares, or 1.5%, of the Common Stock
of the Company.
The Reporting Persons as a group beneficially own 1,709,544 shares, or
8.3%, of the Common Stock of the Company. The Reporting Persons as a group
possess sole voting power with respect to 1,259,544 shares of Common Stock and
sole dispositive power with respect to 1,709,544 shares of Common Stock.
Except as otherwise reflected in this Item 5, no transactions in the
Common Stock were effected by any of the Reporting Persons during the last 60
days or since the most recent filing on Schedule 13D, whichever is less.
Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
None.
Item 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 1. Agreement pursuant to Rule 13d-1(f)(1)(iii).
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CUSIP NO. 859547-10-1 13D PAGE 10 OF 11 PAGES
SIGNATURES
After reasonable inquiry, and to the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct.
Date: May 25, 1994 /s/ Sam Wyly
---------------------------------------------
Sam Wyly
/s/ Charles J. Wyly, Jr.
---------------------------------------------
Charles J. Wyly, Jr.
MAVERICK ENTREPRENEURS
FUND, LTD.
(formerly FIRST DALLAS LIMITED)
By: /s/ Sam Wyly
-----------------------------------------
Sam Wyly,
General Partner
By: /s/ Charles J. Wyly, Jr.
-----------------------------------------
Charles J. Wyly, Jr.,
General Partner
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CUSIP NO. 859547-10-1 13D PAGE 11 OF 11 PAGES
EXHIBIT 1
Pursuant to Rule 13d-1(f)(1)(iii) of Regulation 13D-G of the General Rules
and Regulations of the Securities and Exchange Commission under the Securities
Exchange Act of 1934, as amended, the undersigned agree that the statement to
which this Exhibit is attached is filed on behalf of each of them.
Date: May 25, 1994 /s/Sam Wyly
---------------------------------------------
Sam Wyly
/s/ Charles J. Wyly, Jr.
---------------------------------------------
Charles J. Wyly, Jr.
MAVERICK ENTREPRENEURS
FUND, LTD.
(formerly FIRST DALLAS LIMITED)
By: /s/ Sam Wyly,
------------------------------------------
Sam Wyly,
General Partner
By: /s/ Charles J. Wyly, Jr.
------------------------------------------
Charles J. Wyly, Jr.,
General Partner
