SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Syms Corp
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(Name of Issuer)
Common Stock, par value $.05 per share
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(Title of Class and Securities)
871551 10 7
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(CUSIP Number of Class of Securities)
Sy Syms
Syms Way
Secaucus, New Jersey 07094
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
Copy to:
Matthew J. Mallow, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP
919 Third Avenue
New York, New York 10022
(212) 735-3000
August 27, 1997
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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 Statement because of Rule 13d-1(b)(3) or
(4), check the following: ( )
SCHEDULE 13D
CUSIP No.
871551 10 7
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(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
The Sy Syms Foundation
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) (X)
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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
New Jersey, USA
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(7) SOLE VOTING POWER
NUMBER OF
SHARES 2,500,000
BENEFICIALLY ------------------------------
OWNED BY (8) SHARED VOTING POWER
EACH
REPORTING 0
PERSON ------------------------------
WITH (9) SOLE DISPOSITIVE POWER
2,500,000
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(10) SHARED DISPOSITIVE POWER
0
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,500,000
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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
14.1%
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(14) TYPE OF REPORTING PERSON*
OO
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Item 1. Security and Issuer
This Statement on Schedule 13D (the "Schedule 13D") relates
to the common stock, par value $.05 per share (the "Common
Stock"), of Syms Corp, a New Jersey corporation (the "Company").
The Reporting Person is deemed to beneficially own 2,500,000
shares (the "Shares") of Common Stock. The address of the
Company's principal executive office is Syms Way, Secaucus, New
Jersey 07094.
Item 2. Identity and Background.
This Schedule 13D is filed by Sy Syms, as Trustee, on behalf
of the Sy Syms Foundation, a New Jersey non-profit corporation
(the "Foundation"), located at Syms Way, Secaucus, New Jersey
07094. The Foundation has not (i) been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors)
or (ii) 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.
Item 3. Source and Amount of Funds or Other Consideration.
The Foundation acquired the Shares from the Sy Syms
Revocable Living Trust, which contributed the Shares as a
charitable contribution.
Item 4. Purpose of Transaction.
The Foundation has acquired the Shares for investment
purposes only, and does not have any present plans or proposals
that relate to or would result in any change in the business,
policies, management, structure or capitalization of the Company.
The Foundation reserves the right to dispose of the Shares or to
acquire additional securities of the Company in the ordinary
course of business, to the extent deemed advisable in light of
its general investment and trading policies, market conditions or
other factors.
Except as set forth in this Item 4, the Foundation has no
present plan or proposal that relates 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.
(a) The 2,500,000 Shares owned by the Foundation represent
as of the date hereof approximately 14.1% of the Common Stock
outstanding on the date hereof, according to the Company.
(b) The Foundation has the sole power to vote or to direct
the voting of the Shares and the sole power to dispose or direct
the disposition of such Shares.
(c) Except as set forth in this Schedule 13D, the
Foundation has not engaged in any transactions involving the
Common Stock during the past 60 days.
(d) Except for Sy Syms, in his capacity as Trustee of the
Foundation, no person is known by the Foundation to have the
right to receive or the power to direct the receipt of dividends
from, or the proceeds from the sale of, the Shares beneficially
owned by the Foundation.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer.
Except as set forth in this Schedule 13D, there are no
contracts, arrangements, understandings or relationships (legal
or otherwise) between the Foundation and any person with respect
to any securities of the Company, including but not limited to
transfer or voting of any of such securities, finder's fees,
joint ventures, loan or option arrangements, puts or calls,
guarantees of profits, division of profits or loss, or the giving
or withholding of proxies.
Item 7. Material to be Filed as Exhibits.
The Foundation has no agreements, contracts, arrangements or
understandings, plans or proposals meeting the criteria set forth
in Item 7 of Schedule 13D.
SIGNATURE
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set forth in
this statement is true, complete and correct.
Dated: September 9, 1997
By: /s/ Sy Syms
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Sy Syms, as Trustee of the
Sy Syms Foundation
