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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 23)
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)
Charles D. Maguire, Jr.
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)
July 27, 1995
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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).
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CUSIP NO. 859547-10-1 13D Page 2
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sam Wyly ###-##-####
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
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SEC USE ONLY
3
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SOURCE OF FUNDS*
4
00
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
5 [_]
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
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SOLE VOTING POWER
7
NUMBER OF
395,954
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 300,000
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
1,596,965
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
300,000
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,896,965
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.3%
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TYPE OF REPORTING PERSON*
14
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 859547-10-1 13D Page 3
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Charles J. Wyly, Jr. ###-##-####
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
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SEC USE ONLY
3
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SOURCE OF FUNDS*
4
00
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
5 [_]
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
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SOLE VOTING POWER
7
NUMBER OF
563,590
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 300,000
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
1,248,273
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
300,000
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,548,273
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.1%
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TYPE OF REPORTING PERSON*
14
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 859547-10-1 13D Page 4
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NAME OF REPORTING PERSON
1 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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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
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SEC USE ONLY
3
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SOURCE OF FUNDS*
4
N/A
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
5 [_]
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
Texas
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SOLE VOTING POWER
7
NUMBER OF
300,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
300,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
300,000
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
1.2%
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TYPE OF REPORTING PERSON*
14
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 859547-10-1 13D Page 5
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Wyly Group
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
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SEC USE ONLY
3
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SOURCE OF FUNDS*
4
N/A
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
5 [_]
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
Texas
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SOLE VOTING POWER
7
NUMBER OF
1,259,544
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
3,145,238
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,145,238
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
11.8%
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TYPE OF REPORTING PERSON*
14
IN, PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 859547-10-1 13D Page 6
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Item 1. Security and Issuer.
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Not amended.
Item 2. Identity and Background.
-----------------------
Not amended.
Item 3. Source and Amount of Funds or Other Consideration.
-------------------------------------------------
Item 3 is hereby amended to read in its entirety as follows:
As detailed below, on June 27, 1995, three trusts of which Sam Wyly is
trustee acquired from the Company warrants to purchase an aggregate of 101,011
shares of Common Stock in exchange for an aggregate of 74,995 shares of Series B
Preferred Stock, par value $0.10 per share, of the Company (the "Preferred
Stock") held by such trusts and having a value equal to the value of such
warrants.
<TABLE>
<CAPTION>
Number of Shares Number of Shares
of Preferred of
Stock Common Stock
Name of Trust Exchanged Underlying Warrants
------------- ---------------- -------------------
<S> <C> <C>
Laurie L. Wyly Revocable Trust 24,998 33,670
Lisa Wyly Revocable Trust 24,999 33,671
Kelly Wyly Elliott Trust 24,998 33,670
</TABLE>
As detailed below, on June 27, 1995, four trusts of which Charles J.
Wyly, Jr. is trustee acquired from the Company warrants to purchase an aggregate
of 134,683 shares of Common Stock in exchange for an aggregate of 99,995 shares
of Preferred Stock held by such trusts and having a value equal to the value of
such warrants.
<TABLE>
<CAPTION>
Number of Shares Number of Shares
of Preferred of
Stock Common Stock
Name of Trust Exchanged Underlying Warrants
------------- ---------------- -------------------
<S> <C> <C>
Martha Caroline Wyly Trust 24,999 33,671
Charles J. Wyly III Trust 24,999 33,671
Emily Ann Wyly Trust 24,998 33,670
Jennifer Lynn Wyly Trust 24,999 33,671
</TABLE>
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CUSIP NO. 859547-10-1 13D Page 7
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The warrants acquired by the trusts of which Messrs. Sam and Charles
Wyly are trustees are exercisable, beginning on September 25, 1995, at an
exercise price of $36.50 per share (the fair market value of the Common Stock on
June 27, 1995) and will expire on June 27, 1997.
Item 4. Purpose of Transaction.
----------------------
Not amended.
Item 5. Interest in Securities of the Issuer.
------------------------------------
Item 5 is hereby amended to read in its entirety as follows:
Sam Wyly beneficially owns 1,896,965 shares, or 7.3%, of the Common
Stock of the Company. Sam Wyly beneficially owns 1,100,000 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 358,353 of such shares as trustee of the trusts listed below
(through direct ownership by such trusts of 257,342 shares and beneficial
ownership by such trusts of an additional 101,011 shares as a result of such
trusts' ownership of warrants):
<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 97,624
4. The Lisa Wyly Revocable Trust 95,425
5. The Kelly Wyly Elliott Trust 95,524
</TABLE>
Sam Wyly possesses sole voting power with respect to 395,954 shares of
Common Stock, sole dispositive power with respect to 1,596,965 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 1,548,273 shares, or 6.1%, of
the Common Stock of the Company. Charles Wyly beneficially owns 550,000 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 441,699 of such shares as trustee of the trusts listed
below (through direct ownership by such trusts of 307,016 shares and beneficial
ownership by such trusts of an additional 134,683 shares as a result of such
trusts' ownership of warrants):
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CUSIP NO. 859547-10-1 13D Page 8
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<TABLE>
<CAPTION>
NUMBER OF SHARES
NAME OF TRUST BENEFICIALLY OWNED
------------- ------------------
<S> <C>
1. The Martha Caroline Wyly Trust 110,425
2. The Charles J. Wyly III Trust 110,425
3. The Emily Ann Wyly Trust 110,424
4. The Jennifer Lynn Wyly Trust 110,425
</TABLE>
Charles J. Wyly, Jr. possesses sole voting power with respect to
563,590 shares of Common Stock, sole dispositive power with respect to 1,248,273
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 1.2%, of the Common Stock
of the Company.
The Reporting Persons as a group beneficially own 3,145,238 shares, or
11.8%, 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 3,145,238 shares of Common Stock.
Except as otherwise reflected in Item 3 and 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.
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CUSIP NO. 859547-10-1 13D Page 9
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Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
---------------------------------------------------------------------
to Securities of the Issuer.
- ---------------------------
Not amended.
Item 7. Material to be Filed as Exhibits.
--------------------------------
Exhibit 1. Agreement pursuant to Rule 13d-1(f)(1)(iii).(1)
Exhibit 2. Form of Loan Agreement dated as of February 23, 1995
between Maverick Entrepreneurs Fund, Ltd. and Lehman
Brothers Finance, S.A., including Form of Promissory
Note.(2)
Exhibit 3. Option Transaction dated February 23, 1995 between
Maverick Entrepreneurs Fund, Ltd. and Lehman Brothers
Finance S.A.(2)
Exhibit 4. Option Transaction dated February 23, 1995 between
Maverick Entrepreneurs Fund, Ltd. and Lehman Brothers
Finance S.A.(2)
Exhibit 5. Form of Guarantee of Lehman Brothers Holdings Inc.(2)
Exhibit 6. Form of Pledge Agreement, dated as of February 23, 1995,
between Maverick Entrepreneurs Fund, Ltd. and Lehman
Brothers Finance S.A.(2)
- -------------------------
(1) Filed herewith.
(2) Previously filed with Amendment No. 21 to this Schedule 13D.
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CUSIP NO. 859547-10-1 13D Page 10
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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: July 27, 1995 /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
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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: July 27, 1995 /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
