<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 4)
United Foods, Inc.
- --------------------------------------------------------------------------------
(NAME OF ISSUER)
Class A and Class B Common Stock
- --------------------------------------------------------------------------------
(TITLE OF CLASS OF SECURITIES)
910365 30 3
910365 10 5
- --------------------------------------------------------------------------------
(CUSIP NUMBER)
James I. Tankersley
Daniel B. Tankersley
Ten Pictsweet Drive
Bells, Tennessee 38006-0119
(901) 422-7600
- --------------------------------------------------------------------------------
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
December 31, 1995
- --------------------------------------------------------------------------------
(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).
(Continued on following page(s))
Page 1 of 8 Pages
<PAGE> 2
SCHEDULE 13D
CUSIP No. 910365 303 Page 2 of 8 Pages
910365 10 5
<TABLE>
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Daniel B. Tankersley SS# ###-##-####
- ----------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) / /
- ----------------------------------------------------------------------------------------------------------------------------------
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
USA
- ----------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
712,176 Class A Common Stock. 312,783 of these shares represent Class B Common Stock of the
Company which is convertible into Class A Common Stock on a one for one basis.
NUMBER OF -----------------------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------------------------------------------------------
REPORTING PERSON 9 SOLE DISPOSITIVE POWER
WITH 712,176 Class A Common Stock. 312,783 of these shares represent Class B Common Stock of the
Company which is convertible into Class A Common Stock on a one for one basis.
-----------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ----------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
712,176 Class A Common Stock. 312,783 of these shares represent Class B Common Stock of the Company which is
convertible into Class A Common Stock on a one for one basis.
- ----------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / /
- ----------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.4% Class A Common Stock
- ----------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ----------------------------------------------------------------------------------------------------------------------------------
SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 3
SCHEDULE 13D
CUSIP No. 910365 303 Page 3 of 8 Pages
910365 10 5
<TABLE>
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Daniel B. Tankersley SS# ###-##-####
- ----------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) / /
- ----------------------------------------------------------------------------------------------------------------------------------
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
USA
- ----------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
312,783 Class B Common Stock
NUMBER OF -----------------------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------------------------------------------------------
REPORTING PERSON 9 SOLE DISPOSITIVE POWER
WITH
312,783 Class B Common Stock
-----------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ----------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
312,783 Class B Common Stock
- ----------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / /
- ---------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3% Class B Common Stock
- ----------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ----------------------------------------------------------------------------------------------------------------------------------
SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 4
SCHEDULE 13D
CUSIP No. 910365 303 Page 4 of 8 Pages
910365 10 5
<TABLE>
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James I. Tankersley SS# ###-##-####
- ----------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
- ----------------------------------------------------------------------------------------------------------------------------------
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
USA
- ----------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,221,328 Class A Common Stock
NUMBER OF -----------------------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY James I. Tankersley has no power to vote, and disclaims beneficial ownership
OWNED BY EACH of, shares owned by his spouse or children included herein.
REPORTING PERSON 1,332,087 Class A Common Stock
WITH -----------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,221,328 Class A Common Stock
-----------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
James I. Tankersley has no power to dispose of, and disclaims beneficial
ownership of, shares owned by his spouse and children included herein.
1,332,087 Class A Common Stock
- ----------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,553,415 Class A Common Stock. These shares represent Class B Common Stock of the Company which is convertible into
Class A Common Stock on a one for one basis.
- ----------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / /
- ----------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.1% Class A Common Stock
- ----------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ----------------------------------------------------------------------------------------------------------------------------------
SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 5
SCHEDULE 13D
CUSIP No. 910365 303 Page 5 of 8 Pages
910365 10 5
<TABLE>
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James I. Tankersley SS# ###-##-####
- ----------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
- ----------------------------------------------------------------------------------------------------------------------------------
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
USA
- ----------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,221,328 Class A Common Stock
NUMBER OF -----------------------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY James I. Tankersley has no power to vote, and disclaims beneficial ownership
OWNED BY EACH of, shares owned by his spouse or children included herein.
REPORTING PERSON 1,332,087 Class A Common Stock
WITH -----------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,221,328 Class A Common Stock
-----------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
James I. Tankersley has no power to dispose of, and disclaims beneficial
ownership of, shares owned by his spouse and children included herein.
1,332,087 Class A Common Stock
- ----------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,553,415 Class B Common Stock
- ----------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / /
- ----------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
43.4% Class B Common Stock
- ----------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ----------------------------------------------------------------------------------------------------------------------------------
SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 6
ITEM 1. SECURITY AND ISSUER.
This statement refers to Class A and Class B Common Stock of:
United Foods, Inc.
10 Pictsweet Drive
Bells, Tennessee 38006-0119
ITEM 2. IDENTITY AND BACKGROUND.
The information is provided below with respect to the reporting
person.
<TABLE>
<S> <C> <C>
i. (a) Name: Daniel B. Tankersley
(b) Business Address: 2611 Beech Bluff Road
Jackson, Tennessee 38301
(c) Principal Occupation: Vice Chairman and Director of United Foods, Inc.
(d) Daniel B. Tankersley has never been convicted of a crime.
(e) Daniel B. Tankersley has never been subject to a judgment, decree or final order in any civil
proceeding.
(f) Daniel B. Tankersley is a citizen of the United States.
ii. (a) Name: James I. Tankersley
(b) Business Address: 10 Pictsweet Drive
Bells, Tennessee 38006-0119
(c) Principal Occupation: Chairman of the Board and Chief Executive Officer of United
Foods, Inc.
(d) James I. Tankersley has never been convicted of a crime.
(e) James I. Tankersley has never been subject to a judgment, decree or final order in any civil
proceeding.
(f) James I. Tankersley is a citizen of the United States.
</TABLE>
ITEM 3. SOURCE AND AMOUNT OF FUNDS.
Daniel Tankersley purchased 46,892, 46,893 and 46,893 shares of the
Class B Common Stock from Christan Tankersley Shaffer, Jonas Tankersley and Lee
Tankersley, respectively, each of whom is an adult child of Daniel Tankersley.
Daniel Tankersley executed a stock sale agreement in the form of Exhibit 1 with
each of the sellers, pursuant to which Daniel Tankersley will pay a purchase
price of $2.00 per share, or an aggregate purchase price of $281,356 for the
140,678 shares purchased by him, pursuant to a non-interest bearing promissory
note. The entire amount of each promissory note will become due on January 1,
2001.
In addition, Daniel Tankersley acquired an additional 6,153 of the
Class B Common Stock through a gift from his wife.
<PAGE> 7
ITEM 4. PURPOSE OF TRANSACTION.
Each of Daniel Tankersley's children desired to divest his or her
interest in the shares of the Class B Common Stock and Daniel Tankersley agreed
to purchase all of the shares held by them. Daniel Tankersley's wife
transferred all of her Class B Common Stock by gift to Daniel Tankersley.
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER.
(i)
<TABLE>
<CAPTION>
(a) Owner No. of Shares % of Shares
-------------------- -------------------------- ---------------------------
<S> <C> <C>
Daniel B. Tankersley 712,176 Class A (1.) Common 11.4% Class A Common Stock
Stock
Daniel B. Tankersley 312,783 Class B Common Stock 5.3% Class B
Common Stock
</TABLE>
(1.) 312,783 of these shares represent shares of Class B Common
Stock which is convertible into class A Common Stock on a one
for one basis.
(b) The power to vote and dispose of the shares owned by Daniel B.
Tankersley rests solely with him.
(c) None.
(d) Not applicable.
(e) Not applicable.
(ii)
<TABLE>
<CAPTION>
(a) Owner No. of Shares % of Shares
-------------------- -------------------------- ---------------------------
<S> <C> <C> <C>
Class A
Common Stock
(on conversion of
Class B Common
Stock)
James I. Tankersley 1,221,328 14.4%
Spouse 9,474 .1%
Children 1,322,613 15.6%
TOTAL 2,553,413 30.1%
Class B
Common Stock
James I. Tankersley 1,221,328 20.7%
Spouse 9,474 .2%
Children 1,322,613 22.5%
TOTAL 2,553,415 43.4%
</TABLE>
<PAGE> 8
(b) The power to vote and dispose of the shares owned of
record by James I. Tankersley, his spouse and children
rests solely with the record owner in each case.
(c) None.
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ETC. WITH RESPECT TO SECURITIES OF THE ISSUER.
Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBIT.
1. Form of Stock Sale Agreement
SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief
of the undersigned, I certify that the information set forth in this statement
is true, complete and correct as of this 5th day of January, 1996.
/s/ James I. Tankersley
----------------------------
James I. Tankersley
/s/ Daniel I. Tankersley
----------------------------
Daniel B. Tankersley
<PAGE> 9
EXHIBIT 1
STOCK SALE AGREEMENT
THIS AGREEMENT entered into on the 31st day of December 1995, by and
between JONAS D. TANKERSLEY, hereinafter called "Seller" and DANIEL B.
TANKERSLEY, hereinafter called "Buyer";
WHEREAS, it is the desire of the Buyer to purchase from Seller
46,893 shares of United Foods, Inc. Class B Common Stock, and it is the desire
of the Seller to sell same to Buyer; and
WHEREAS, it is necessary to reduce the terms of such sale to
writing.
IT IS, THEREFORE, AGREED as follows:
1. The Buyer does hereby agree to purchase from the Seller 46,893
shares of United Foods, Inc. Class B Common Stock for the total sum of Ninety
Three Thousand Seven Hundred Eighty Six Dollars ($93,786.00).
2. The terms of such purchase are the payment of Ninety Three
Thousand Seven Hundred Eighty Six Dollars ($93,786.00) on the 1st day of
January, 2001. Buyer will execute a non-interest bearing promissory note in
order to secure the payment agreed upon.
3. It is further agreed that this agreement shall be implemented
by execution of a promissory note which is incorporated herein and attached
hereto, and by the delivery of the 46,893 shares of United Foods, Inc. Class B
Common Stock.
In witness whereof, the parties have set their hands to this
agreement the day and year first above written.
________________________________________
DANIEL B. TANKERSLEY, BUYER
________________________________________
JONAS D. TANKERSLEY, SELLER
<PAGE> 10
STOCK SALE AGREEMENT
THIS AGREEMENT entered into on the 31st day of December 1995, by and
between CHRISTAN T. SHAFFER hereinafter called "Seller" and DANIEL B.
TANKERSLEY, hereinafter called "Buyer";
WHEREAS, it is the desire of the Buyer to purchase from Seller
46,892 shares of United Foods, Inc. Class B Common Stock, and it is the desire
of the Seller to sell same to Buyer; and
WHEREAS, it is necessary to reduce the terms of such sale to
writing.
IT IS, THEREFORE, AGREED as follows:
1. The Buyer does hereby agree to purchase from the Seller 46,892
shares of United Foods, Inc. Class B Common Stock for the total sum of Ninety
Three Thousand Seven Hundred Eighty Four Dollars ($93,784.00).
2. The terms of such purchase are the payment of Ninety Three
Thousand Seven Hundred Eighty Four Dollars ($93,784.00) on the 1st day of
January, 2001. Buyer will execute a non-interest bearing promissory note in
order to secure the payment agreed upon.
3. It is further agreed that this agreement shall be implemented
by execution of a promissory note which is incorporated herein and attached
hereto, and by the delivery of the 46,892 shares of United Foods, Inc. Class B
Common Stock.
In witness whereof, the parties have set their hands to this
agreement the day and year first above written.
________________________________________
DANIEL B. TANKERSLEY, BUYER
________________________________________
CHRISTAN T. SHAFFER, SELLER
<PAGE> 11
STOCK SALE AGREEMENT
THIS AGREEMENT entered into on the 31st day of December 1995, by and
between LEE W. TANKERSLEY hereinafter called "Seller" and DANIEL B. TANKERSLEY,
hereinafter called "Buyer";
WHEREAS, it is the desire of the Buyer to purchase from Seller
46,893 shares of United Foods, Inc. Class B Common Stock, and it is the desire
of the Seller to sell same to Buyer; and
WHEREAS, it is necessary to reduce the terms of such sale to
writing.
IT IS, THEREFORE, AGREED as follows:
1. The Buyer does hereby agree to purchase from the Seller 46,893
shares of United Foods, Inc. Class B Common Stock for the total sum of Ninety
Three Thousand Seven Hundred Eighty Six Dollars ($93,786.00).
2. The terms of such purchase are the payment of Ninety Three
Thousand Seven Hundred Eighty Six Dollars ($93,786.00) on the 1st day of
January, 2001. Buyer will execute a non-interest bearing promissory note in
order to secure the payment agreed upon.
3. It is further agreed that this agreement shall be implemented
by execution of a promissory note which is incorporated herein and attached
hereto, and by the delivery of the 46,893 shares of United Foods, Inc. Class B
Common Stock.
In witness whereof, the parties have set their hands to this
agreement the day and year first above written.
________________________________________
DANIEL B. TANKERSLEY, BUYER
________________________________________
LEE W. TANKERSLEY, SELLER
