UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
-----------------------------------------
(Amendment No. 1)*
Medical Resources, Inc.
-----------------------
(Name of Issuer)
Common Stock
------------------------------
(Title of Class of Securities)
564610102
--------------
(CUSIP Number)
Todd J. Emmerman, Esq., c/o Rosenman & Colin LLP, 575 Madison Avenue, New York,
NY 10022 (212) 940-8800
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
February 23, 1998
-------------------------------------------------------
(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|X|.
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 (the "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>
SCHEDULE 13D
CUSIP No. 564610102
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Cramer Rosenthal McGlynn, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALL
OWNED BY --------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON
WITH 497,130 Shares
--------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
497,130 Shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
497,130 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 15
<PAGE>
SCHEDULE 13D
CUSIP No. 564610102
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CRM Management, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING
PERSON 254,300 Shares
WITH --------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
254,300 Shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
254,300 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 15
<PAGE>
SCHEDULE 13D
CUSIP No. 564610102
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CRM Advisors, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 166,900 Shares
PERSON --------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
166,900 Shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
166,900 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO, IA
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 15
<PAGE>
SCHEDULE 13D
CUSIP No. 564610102
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Arthur J. Pergament
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY 33,250
OWNED BY --------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON
WITH 0 Shares
--------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
33,250
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 Shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
33,250 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 15
<PAGE>
SCHEDULE 13D
CUSIP No. 564610102
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John Roach
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY 2,000
OWNED BY --------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON
WITH 0 Shares
--------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
2,000
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 Shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,000 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than .1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 15
<PAGE>
This Amendment No. 1 is being filed pursuant to Rule 13-d-2(a) promulgated under
the Securities Exchange Act of 1934 (the "Act") and amends the Schedule 13D
previously filed on November 13, 1997. Terms not otherwise defined herein shall
have the meaning ascribed to them in the Schedule 13D.
Item 2. Identity and Background
Item 2 is hereby supplemented and amended as follows:
(a) This statement is being filed by Cramer Rosenthal McGlynn, LLC,
a New York limited liability company ("CRM"), CRM Management, Inc.,
a New York corporation ("CRM Management"), CRM Advisors LLC, a New
York limited liability company ("CRM Advisors"), Arthur J.
Pergament, an individual and John Roach, an individual. CRM, CRM
Management, CRM Advisors, Mr. Pergament and Mr. Roach (together, the
"Reporting Persons") are making this single, joint filing because
they may be deemed to constitute a "group" within the meaning of
Section 13(d)(3) of the Exchange Act. The Reporting Persons disclaim
the existence of a group with any other investors in the Company and
do not affirm the existence of a group among the Reporting Persons.
(b)-(c)
Cramer Rosenthal McGlynn, LLC
CRM is a limited liability company that provides investment
management services. The principal business address of CRM is 707
Westchester Avenue, White Plains, NY 10604. Its telephone number is
(212) 838-3830.
CRM Management, Inc.
CRM Management is a corporation that provides investment management
services. The principal business address of CRM Management is 707
Westchester Avenue, White Plains, New York 10604. Its telephone
number is (212) 838-3830.
CRM Advisors, LLC
CRM Advisors is a limited liability company that provides investment
advisory services. The principal business address of CRM Advisors is
707 Westchester Avenue, White Plains, NY 10604. Its telephone number
is (212) 838-3830.
Arthur J. Pergament
Mr. Pergament is an individual who is principally employed as a
Senior Vice President of CRM, CRM Management and CRM Advisors. The
principal business address of Mr. Pergament is 707 Westchester
Avenue, White Plains, NY 10604. Mr. Pergament's business telephone
number is (212) 838-3830.
John Roach
Mr. Roach is principally employed as a Senior Portfolio Accountant
for CRM. Mr. Roach's principal business address is 707 Westchester
Avenue, White Plains, NY
Page 7 of 15
<PAGE>
10604. Mr. Roach's business telephone number is (212) 838-3830.
The name, business address and present principal occupation or
employment of each of the executive officers, directors and
controlling shareholders of CRM, CRM Management and CRM Advisors is
set forth on Schedule I annexed hereto which is incorporated herein
by reference.
(d) To the best knowledge of the Reporting Persons, during the last
five years, none of the Reporting Persons and none of the persons
listed on Schedule I hereto has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors).
(e) To the best knowledge of the Reporting Persons, during the last
five years, none of the Reporting Persons and none of the persons
listed on Schedule I hereto has been a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction or is
subject to any judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or a finding of any violation with
respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is hereby amended as follows:
Schedule II sets forth a description of each transaction in the
Company's Common Stock effected by the Reporting Persons since the
Schedule 13D to which this Amendment No. 1 relates was filed. The
source of funds for CRM and CRM Management in effecting such
transactions was the personal funds or working capital of their
clients or entities they control. The personal funds and working
capital may, at any given time, include margin loans made by
brokerage firms in the ordinary course of business. The total cost
of the reported securities for Mr. Pergament was $186,874.50. The
total cost of the reported securities for Mr. Roach was $7,558.82.
The source of funds for each of Mr. Pergament and Mr. Roach was the
respective personal funds of each.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby supplemented and amended as follows:
(a) CRM (including its clients) beneficially owns 497,130 shares of
Common Stock, representing 2.3% of the outstanding Common Stock of
the Company. CRM Management (including entities it controls)
beneficially owns 254,300 shares of Common Stock, representing 1.2%
of the outstanding Common Stock of the Company. CRM Advisors
(including its clients) beneficially owns 166,900 shares of Common
Stock, representing .8% of the outstanding Common Stock of the
Company. Mr. Pergament beneficially owns 33,200 shares of Common
Stock, representing approximately .2% of the outstanding Common
Stock of the Company. Mr. Roach
Page 8 of 15
<PAGE>
beneficially owns 2,000 shares of Common Stock, representing less
than .1% of the outstanding Common Stock of the Company.
Collectively, the Reporting Persons (including their clients and
entities they control) own 953,580 shares, representing 4.5% of the
outstanding Common Stock of the Company. The percentages listed in
this paragraph are based on the aggregate number of shares of Common
Stock disclosed in the Company's Quarterly Report on Form 10-Q/A for
the period ended June 30, 1997.
(b) By reason of their positions as investment advisors to their
respective advisory clients, CRM and CRM Advisors may be deemed to
possess the power to vote and dispose of the shares of Common Stock
beneficially owned by their respective advisory clients. Pursuant to
Rule 13d-4 promulgated under the Exchange Act, CRM and CRM Advisors
disclaim beneficial ownership of all shares of Common Stock owned by
their respective advisory clients.
Mr. Pergament and Mr. Roach each have the sole power to vote and
dispose of all the shares of Common Stock reported herein as being
beneficially owned by each such individual.
(c) Schedule II hereto sets forth a description of each transaction
in the Company's Common Stock that were effected by any of the
Reporting Persons since the the Schedule 13D to which this Amendment
No. 1 relates was filed. All such transactions listed on Schedule II
were effected on the open market.
(d) Not applicable.
(e) The Reporting Persons ceased to collectively own more than five
percent of the Company's Common Stock on February 23, 1998.
Page 9 of 15
<PAGE>
SIGNATURE
After reasonable inquiry, and to the best of our knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Dated: March 23, 1998
CRAMER ROSENTHAL MCGLYNN, LLC
By: /s/Eugene A. Trainor III
-----------------------------------
Title: Senior Vice President
CRM MANAGEMENT, INC.
By: /s/Eugene A. Trainor III
-----------------------------------
Title: Senior Vice President
CRM ADVISORS, LLC
By: /s/Eugene A. Trainor III
-----------------------------------
Title: Senior Vice President
By: /s/Arthur J. Pergament
-----------------------------------
Name: Arthur J. Pergament
By: /s/John Roach
-----------------------------------
Name: John Roach
Page 10 of 15
<PAGE>
Schedule I
Executive Officers and Directors
CRAMER ROSENTHAL MCGLYNN, LLC
The name and present principal occupation or employment of each of the
executive officers and directors of CRM is set forth below. The business address
of each such person is 707 Westchester Avenue, White Plains, NY 10604.
Present Principal
Name and Positions Held Occupation and Employment
- ----------------------- -------------------------
Gerald B. Cramer Chairman and a Director
Ronald H. McGlynn President and CEO and a Director
Edward J. Rosenthal Vice Chairman and a Director
Jay B. Abramson Executive Vice President
and a Director
Fred M. Filoon Senior Vice President
Arthur J. Pergament Senior Vice President
Eugene A. Trainor III Senior Vice President and Chief
Financial Officer
CRM MANAGEMENT, INC.
The name and present principal occupation or employment of each of the
executive officers and directors of CRM Management, Inc. is set forth below. The
business address of each such person is 707 Westchester Avenue, White Plains, NY
10604.
Present Principal
Name and Positions Held Occupation and Employment
- ----------------------- -------------------------
Gerald B. Cramer Chairman and a Director
Ronald H. McGlynn President and CEO and a Director
Edward J. Rosenthal Vice Chairman and a Director
Jay B. Abramson Executive Vice President
and a Director
Fred M. Filoon Senior Vice President
Arthur J. Pergament Senior Vice President
Eugene A. Trainor III Senior Vice President and Chief
Financial Officer
CRM ADVISORS, LLC
The name and present principal occupation or employment of each of the
executive officers and managers of CRM Advisors, LLC
Page 11 of 15
<PAGE>
is set forth below. The business address of each such person is 707 Westchester
Avenue, White Plains, NY 10604.
Present Principal
Name and Positions Held Occupation and Employment
- ----------------------- -------------------------
Gerald B. Cramer Chairman and a Manager
Ronald H. McGlynn President and CEO and a Manager
Edward J. Rosenthal Vice Chairman and a Manager
Jay B. Abramson Executive Vice President
and a Manager
Fred M. Filoon Senior Vice President
Arthur J. Pergament Senior Vice President
Eugene A. Trainor III Senior Vice President and Chief
Financial Officer
Page 12 of 15
<PAGE>
Schedule II
Set forth below is a description of each transaction in the Company's
Common Stock effected by the Reporting Persons since the Reporting Persons filed
the Schedule 13D to which this Amendment No. 1 relates. All such transactions
were effected on the open market.
Price
Reporting Per Share
Person Activity Date Type # of Shares (in dollars)
- ------ ------------- ---- ----------- ------------
CRM 12/17/97 BUY 100 8.88
CRM 12/18/97 BUY 9,200 8.50
CRM 12/18/97 BUY 2,100 8.50
CRM 12/18/97 BUY 500 8.50
CRM 12/24/97 BUY 1,600 8.88
CRM 12/24/97 BUY 600 9.11
CRM 12/24/97 BUY 900 9.05
CRM 12/24/97 BUY 600 9.11
CRM 01/12/98 BUY 1,200 10.38
CRM 01/14/98 BUY 12,100 10.88
CRM 01/16/98 BUY 600 10.86
CRM 01/21/98 BUY 4,900 10.56
CRM 01/21/98 BUY 8,000 10.56
CRM 01/23/98 BUY 2,100 10.68
CRM 01/27/98 BUY 1,300 10.63
CRM 02/12/98 BUY 700 10.13
CRM 02/13/98 BUY 1,900 10.00
CRM 02/18/98 BUY 600 10.38
CRM 12/19/97 SELL 32,500 8.09
MANAGEMENT
CRM 01/09/98 SELL 500 10.12
CRM 01/15/98 SELL 30,600 10.36
MANAGEMENT
CRM 01/21/98 SELL 2,500 10.45
CRM 01/27/98 SELL 3,500 10.57
CRM 01/29/98 SELL 2,000 10.75
CRM 02/03/98 SELL 12,500 10.50
CRM 02/06/98 SELL 55,600 10.00
CRM 02/06/98 SELL 1,500 10.00
CRM 02/06/98 SELL 3,700 10.00
CRM 02/09/98 SELL 20,200 9.87
CRM 02/09/98 SELL 500 9.87
Page 13 of 15
<PAGE>
Price
Reporting Per Share
Person Activity Date Type # of Shares (in dollars)
- ------ ------------- ---- ----------- ------------
CRM 02/18/98 SELL 1,300 9.87
CRM 02/18/98 SELL 5,000 10.33
CRM 02/18/98 SELL 4,100 10.33
CRM 02/18/98 SELL 26,600 10.33
CRM 02/18/98 SELL 600 10.14
CRM 02/18/98 SELL 900 10.20
CRM 02/23/98 SELL 10,400 9.81
CRM 02/23/98 SELL 2,500 9.77
CRM 02/23/98 SELL 1,100 9.81
CRM 02/23/98 SELL 16,600 9.81
CRM 02/23/98 SELL 1,800 9.81
CRM 02/23/98 SELL 2,800 9.81
CRM 02/23/98 SELL 7,800 9.81
CRM 02/23/98 SELL 20,600 9.81
CRM 02/23/98 SELL 100 9.81
CRM 02/23/98 SELL 800 9.75
CRM 02/23/98 SELL 1,100 9.81
CRM 02/23/98 SELL 1,200 9.81
CRM 02/23/98 SELL 400 9.81
CRM 02/23/98 SELL 1,000 9.81
CRM 02/23/98 SELL 2,800 9.61
CRM 02/23/98 SELL 200 9.81
CRM 02/23/98 SELL 300 9.81
CRM 02/23/98 SELL 1,100 9.81
CRM 02/23/98 SELL 200 9.81
CRM 02/23/98 SELL 100 9.81
CRM 02/23/98 SELL 800 9.81
CRM 02/23/98 SELL 500 9.81
CRM 02/23/98 SELL 1,100 9.81
CRM 02/23/98 SELL 500 9.81
CRM 02/23/98 SELL 600 9.81
CRM 02/23/98 SELL 200 9.81
CRM 02/23/98 SELL 1,000 9.71
CRM 02/23/98 SELL 2,000 9.71
CRM 02/23/98 SELL 600 9.81
CRM 02/23/98 SELL 1,300 9.81
CRM 02/23/98 SELL 3,300 9.81
Page 14 of 15
<PAGE>
Price
Reporting Per Share
Person Activity Date Type # of Shares (in dollars)
- ------ ------------- ---- ----------- ------------
CRM 02/23/98 SELL 700 9.81
CRM 02/23/98 SELL 3,500 9.81
CRM 02/23/98 SELL 100 9.81
CRM 02/23/98 SELL 100 9.81
CRM 02/23/98 SELL 200 9.30
CRM 02/23/98 SELL 100 9.81
CRM 02/23/98 SELL 100 9.81
CRM 02/23/98 SELL 1,000 9.71
CRM 02/23/98 SELL 1,700 9.75
CRM 02/23/98 SELL 100 9.81
CRM 02/24/98 SELL 100 9.69
CRM 02/27/98 SELL 6,000 8.81
CRM 02/27/98 SELL 100 8.81
CRM 03/02/98 SELL 9,600 8.41
CRM 03/02/98 SELL 41,000 8.41
MANAGEMENT
CRM 03/02/98 SELL 400 8.47
CRM 03/03/98 SELL 5,000 8.31
CRM 03/03/98 SELL 7,900 8.27
CRM 03/03/98 SELL 7,000 8.31
CRM 03/03/98 SELL 29,600 8.31
MANAGEMENT
CRM 03/03/98 SELL 200 8.31
CRM 03/03/98 SELL 1,900 8.27
CRM 03/04/98 SELL 5,600 8.21
CRM 03/04/98 SELL 24,300 8.21
CRM 03/04/98 SELL 100 8.21
Page 15 of 15
