<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 4)(1)
Frontier Adjusters of America, Inc.
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
359050101
(Cusip Number)
Joseph L. Getraer
c/o Rosenman & Colin LLP
575 Madison Avenue
New York, New York 10022
(212) 940-8800
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 5, 1999
(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 that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [ ].
(Continued on following pages)
(Page 1 of 15 Pages)
- --------
(1) 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 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>
- --------------------------------------------------------------------------------
CUSIP NO. 359050101 Page 2 of 15 pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
United Financial Adjusting Company
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /_/
(b) /x/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC and AF (WC of the Progressive Corporation)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Ohio
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF (See Item 5)
------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY (See Item 5)
------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
(See Item 5)
PERSON ------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
(See Item 5)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,258,513 (See Item 5)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* /_/
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
58.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
<PAGE>
- --------------------------------------------------------------------------------
CUSIP NO. 359050101 Page 3 of 15 pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Netrex Holdings L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /_/
(b) /x/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) /_/
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF (See Item 5)
------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY (See Item 5)
OWNED BY ------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING (See Item 5)
------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH (See Item 5)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,258,513 - Beneficial Ownership disclaimed pursuant to Rule 13d-4.
(See Item 5)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* /_/
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
58.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
CUSIP NO. 359050101 Page 4 of 15 pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Netrex Corp.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /_/
(b) /x/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) /_/
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
(See Item 5)
NUMBER OF ------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
(See Item 5)
BENEFICIALLY ------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
(See Item 5)
EACH ------------------------------------------------------------
REPORTING 10 SHARED DISPOSITIVE POWER
PERSON (See Item 5)
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,258,513 - Beneficial Ownership disclaimed pursuant to Rule 13d-4.
(See Item 5)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* /_/
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
58.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
CUSIP NO. 359050101 Page 5 of 15 pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Duck Pond Corp.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /_/
(b) /x/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) /_/
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF (See Item 5)
- --------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY (See Item 5)
- --------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
(See Item 5)
- --------------------------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH
(See Item 5)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,258,513 - Beneficial Ownership disclaimed pursuant to Rule 13d-4.
(See Item 5)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* /_/
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
58.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
CUSIP NO. 359050101 Page 6 of 15 pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Michael C. Pascucci
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /_/
(b) /x/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) /_/
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF (See Item 5)
------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY (See Item 5)
OWNED BY ------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING (See Item 5)
-------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH
(See Item 5)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,258,513 - Beneficial Ownership disclaimed pursuant to Rule 13d-4.
(See Item 5)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* /_/
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
58.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
CUSIP NO. 359050101 Page 7 of 15 pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Christopher S. Pascucci
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /_/
(b) /x/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) /_/
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF (See Item 5)
------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY (See Item 5)
OWNED BY ------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING (See Item 5)
------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH (See Item 5)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,258,513 - Beneficial Ownership disclaimed pursuant to Rule 13d-4.
(See Item 5)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* /_/
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
58.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
CUSIP NO. 359050101 Page 8 of 15 pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Ralph P. Pascucci
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /_/
(b) /x/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) /_/
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF (See Item 5)
- --------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY (See Item 5)
- --------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING (See Item 5)
- --------------------------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH (See Item 5)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,258,513 - Beneficial Ownership disclaimed pursuant to Rule 13d-4.
(See Item 5)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* /_/
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
58.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
Item 1. Security and Issuer.
This Amendment No. 4 to Schedule 13D (this "Amendment No. 4") relates to
the shares of Common Stock, par value $.01 per share (the "Common Stock'),
of Frontier Adjusters of America, Inc., an Arizona corporation (the
"Issuer"). This Amendment No. 4 is filed by the Reporting Persons (defined
in Item 2) to reflect changes in the identity of certain Reporting Persons
resulting from changes in the ownership structure of United Financial
Adjusting Company, an Ohio corporation ("UFAC") and amends Items 2, 4, 5, 6
and 7 (as they relate to UFAC) of the Statement on Schedule 13D (the
"Initial Schedule 13D"), filed jointly with the Securities and Exchange
Commission by The Progressive Corporation ("Progressive") and UFAC on
December 9, 1998, and amended by Amendment No. 1 filed on May 4, 1999,
Amendment No. 2 filed on July 7, 1999 and Amendment No. 3 filed on November
18, 1999 ("Amendment No. 3").
Item 2. Identity and Background.
This statement is filed jointly by the following parties (collectively, the
"Reporting Persons"): (i) UFAC, (ii) Netrex Holdings L.L.C., a Delaware
limited liability company ("Netrex Holdings"), by virtue of its ownership
of all of the outstanding capital stock of UFAC, (iii) Netrex Corp., a
Delaware corporation ("Netrex Corp."), the sole manager of the business
operations and affairs of Netrex Holdings, (iv) Duck Pond Corp., a Delaware
corporation ("Duck Pond"), by virtue of its ownership of all of the
outstanding capital stock of Netrex Corp., (v) Michael C. Pascucci, as a
Director and record and beneficial owner of one-third of the outstanding
stock of Duck Pond, (vi) Christopher S. Pascucci, as President, a Director
and record and beneficial owner of one-third of the outstanding stock of
Duck Pond and (vii) Ralph P. Pascucci, as Vice President, Treasurer,
Secretary, a Director and record and beneficial owner of one-third of the
outstanding stock of Duck Pond. The principal business and office address
of each of UFAC and Netrex Holdings is 747 Alpha Drive, Highland Heights,
Ohio 44143. The principal business and office address of each of Netrex
Corp. and Duck Pond Corp. is 270 South Service Road, Melville, New York
11747. Each of Michael C. Pascucci, Christopher S. Pascucci and Ralph P.
Pascucci, maintain a business office at 270 South Service Road, Melville,
New York 11747.
UFAC is a wholly owned subsidiary of Netrex Holdings that provides claim
and administrative services to insurance carriers, managing general agents
and large self-insured companies. UFAC is also a majority shareholder of a
vehicle inspection company and a claims software company. Netrex Holdings
is a holding company whose sole asset is all of the outstanding common
stock of UFAC. Netrex Corp's principal business is the management of the
operations and affairs of Netrex Holdings. Duck Pond's principal business
is that of a manager and member of various investment partnerships and
other entities. Each of Michael C. Pascucci, Christopher S. Pascucci and
Ralph P. Pascucci is principally involved in the business of investing for
profit in securities and various other assets, including investment through
various investment partnerships and other entities.
Set forth in Appendix A hereto are the names, residence or business
address, present principal occupation or employment, and the name,
principal business and address of any corporation or other organization in
which such employment is conducted, of each executive officer and director
of UFAC, Netrex Corp., Duck Pond, and
Page 9 of 15 pages
<PAGE>
Michael C. Pascucci, Christopher S. Pascucci and Ralph P. Pascucci. Each
such person is a citizen of the United States.
During the last five years, none of the Reporting Persons or any of the
persons named in Appendix A (i) has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors), or (ii) was 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 violations with respect to such laws.
Item 4. Purpose of Transaction.
Pursuant to a Contribution Agreement dated October 1, 1999 (the
"Contribution Agreement") between Progressive and Netrex L.L.C., a New York
limited liability company ("Netrex L.L.C."), on November 5, 1999 (i)
Progressive contributed (the "Contribution") all of the common stock of
UFAC to Netrex Holdings, in exchange for 51.3% of the outstanding units of
Netrex Holdings, and (ii) Netrex L.L.C. was issued the remaining
outstanding units of Netrex Holdings. As a result of the Contribution, UFAC
was transferred from a wholly owned subsidiary of Progressive to a wholly
owned subsidiary of Netrex Holdings. Netrex Holdings is governed by an
Operating Agreement dated November 5, 1999 (the "Operating Agreement")
between Progressive and Netrex L.L.C. pursuant to which the business
operations and affairs of Netrex Holdings are managed by Netrex Corp.
Netrex Corp. is an affiliate of Netrex L.L.C. and may only be removed as
manager of Netrex Holdings by unanimous consent of all of the members of
Netrex Holdings. The foregoing summary of certain terms of the Contribution
Agreement and the Operating Agreement is qualified in its entirety by
reference to such agreements, copies of which were filed as Exhibits to
Amendment No. 3 to this Schedule 13D.
UFAC acquired the shares of Common Stock reported herein as being
beneficially owned by it for investment purposes. Depending upon market
conditions and other factors that the Reporting Persons may deem material
to their respective investment decisions, the Reporting Persons may merge
or combine the business operations of the Issuer and UFAC, which would
result in the issuance of additional securities of the Issuer to Netrex
Holdings. Except for the foregoing, to the best knowledge of the Reporting
Persons, none of the Reporting Persons or entities named in Item 2 or any
person identified on Appendix A has any plans or proposals which relate to,
or could result in the occurrence of any of the events referred to in
Paragraphs (a) through (j) of Item 4 of Schedule 13D. However, the
Reporting Persons intend to periodically evaluate the performance of the
Issuer and of the Issuer's management as well as market conditions and
other factors which the Reporting Persons deem relevant to their
investment, and, in connection therewith, the Reporting Persons reserve the
right to take any actions which could relate to, or result in, any of the
matters referred to in paragraphs (a) through (j) of Item 4 of Schedule
13D. Any change in the plans or proposals of the Reporting Persons would be
reported promptly in accordance with the provisions of the Exchange Act and
the rules promulgated thereunder.
Item 5. Interest in Securities of the Issuer.
(a) The aggregate percentage of outstanding shares of Common Stock
reported owned by each Reporting Person is based upon 8,957,560 shares of
Common Stock
Page 10 of 15 pages
<PAGE>
outstanding as of November 12, 1999, as reported in the Issuer's quarterly
report on Form 10-Q, filed November 12, 1999.
(i) UFAC may be deemed to beneficially own 5,258,513 shares of
Common Stock representing 58.7% of the outstanding shares of Common Stock.
(ii) Each of (i) Netrex Holdings, as owner of all of the outstanding
Common Stock of UFAC, (ii) Netrex Corp., as the sole manager of the
business operations and affairs of Netrex Holdings, (iii) Duck Pond Corp.,
by virtue of its ownership of all of the outstanding capital stock of
Netrex, (iv) Michael C. Pascucci, as a Director and record and beneficial
owner of one-third of the outstanding stock of Duck Pond, (v) Christopher
S. Pascucci, as President, a Director and record and beneficial owner of
one-third of the outstanding stock of Duck Pond and (vi) Ralph P.
Pascucci, as Vice President, Secretary, Treasurer, a Director and record
and beneficial owner of one-third of the outstanding stock of Duck Pond
may be deemed, by the provisions of Rule 13d-3 of the Exchange Act, to be
the beneficial owner of the 5,258,513 shares of Common Stock owned by
UFAC. Such shares of Common Stock constitute approximately 58.7% of the
shares of outstanding Common Stock of the Issuer. Other than UFAC, each of
the Reporting Persons disclaims beneficial ownership of these securities
and their filing of this Schedule 13D shall not be deemed an admission
that they are beneficial owners or have voting or dispositive power over
such securities for any purposes under the Act.
Except as otherwise described herein, the Reporting Persons, and to
the best knowledge of the Reporting Persons, any person identified on
Annex A hereto, do not beneficially own any securities of the Issuer.
(b) Together, the Reporting Persons may be deemed to share voting and
dispositive power over the shares of Common Stock of the Issuer described
in Item 5(a). Other than UFAC, each of the Reporting Persons disclaims
beneficial ownership of these securities and their filing of this Schedule
13D shall not be deemed an admission that they are beneficial owners or
have voting or dispositive power over such securities for any purposes
under the Act.
(c) Except as described herein, none of the Reporting Persons nor any of
the persons identified in Appendix A have effected any transaction in the
Common Shares in the past 60 days.
(d) No person other than the Reporting Persons has the right to receive or
the power to direct the receipt of dividends from, or the proceeds from
the sale of the shares described in Item 5(a). Netrex Holdings, as the
owner of all of the outstanding capital stock of UFAC, has the ability to
direct UFAC's receipt of dividends from, or the proceeds from the sale of
all such shares.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer.
All of the information regarding the Contribution Agreement and the
Operating Agreement set forth in Item 4 of this Amendment No. 4 is
incorporated in this Item 6 by reference.
Item 7. Material to be Filed as Exhibits.
Exhibit 1. Joint Filing Agreement dated as of November 22, 1999, by and
among the Reporting Persons.
Page 11 of 15 pages
<PAGE>
Signatures
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: November 22, 1999 United Financial Adjusting Company
By: /s/ Troy Huth
Name: Troy Huth
Title: President
Netrex Holdings L.L.C.
By: Netrex Corp., Manager
By: /s/ Christopher S. Pascucci
Name: Christopher S. Pascucci
Title: President
Netrex Corp.
By: /s/ Christopher S. Pascucci
Name: Christopher S. Pascucci
Title: President
Duck Pond Corp.
By: /s/ Christopher S. Pascucci
Name: Christopher S. Pascucci
Title: President
/s/ Michael C. Pascucci
Michael C. Pascucci
/s/ Christopher S. Pascucci
Christopher S. Pascucci
/s/ Ralph P. Pascucci
Ralph P. Pascucci
Page 12 of 15 pages
<PAGE>
EXHIBIT 1
JOINT FILING AGREEMENT
The undersigned hereby agree that this Amendment No. 4 to the Schedule
13D, dated November 22, 1999, with respect to the shares of common stock, $.01
par value per share, of Frontier Adjusters of America, Inc., is, and any further
amendments to such Schedule 13D signed by each of the undersigned shall be,
filed on behalf of each of us pursuant to and in accordance with the provisions
of Rule 13d-1(f) under the Securities Exchange Act of 1934.
Dated: November 22, 1999
United Financial Adjusting Company
By: /s/ Troy Huth
Name: Troy Huth
Title: President
Netrex Holdings L.L.C.
By: Netrex Corp., Manager
By: /s/ Christopher S. Pascucci
Name: Christopher S. Pascucci
Title: President
Netrex Corp.
By: /s/ Christopher S. Pascucci
Name: Christopher S. Pascucci
Title: President
Duck Pond Corp.
By: /s/ Christopher S. Pascucci
Name: Christopher S. Pascucci
Title: President
/s/ Michael C. Pascucci
Michael C. Pascucci
/s/ Christopher S. Pascucci
Christopher S. Pascucci
/s/ Ralph P. Pascucci
Ralph P. Pascucci
Page 13 of 15 pages
<PAGE>
Annex A
Directors and Executive Officers
The following table sets forth the name, business address and present
principal employment of each director and executive officer of Netrex Corp.,
Duck Pond Corp. and United Financial Adjusting Company. Netrex Holdings L.L.C.
is managed by Netrex Corp.
United Financial Adjusting Company
Executive Officers and Directors
As of November 22, 1999
Principal Occupation or
Employment and Name, Principal
Directors and Executive Business and Address of
Officers Name and Business Organization in which
Addresses Citizenship Employment Conducted(1)
- -------------------------- ----------- ------------------------------
John M. Davis(2) United States Sole Director of United
Financial Adjusting Company
Troy Huth(2) United States President of United Financial
President Adjusting Company
Peter Cavallaro(2) United States General Counsel of Netrex
Secretary Holdings L.L.C.
270 South Service Road
Melville, New York 11747
Jeff Harcourt(2) United States Treasurer of United Financial
Treasurer Adjusting Company
- ----------------
(1) The business address of the organization in which each person's employment
is conducted is the same as the person's business address.
(2) The business address of each such person is 747 Alpha Drive, Highland
Heights, Ohio 44143.
Page 14 of 15 pages
<PAGE>
Netrex Corp.
Executive Officers and Directors
As of November 22, 1999
Principal Occupation or
Employment and Name, Principal
Business and Address of
Organization in which
Name and Business Addresses Citizenship Employment Conducted(1)
- --------------------------- ----------- ------------------------------
Michael C. Pascucci(2) United States Director of Duck Pond
Director Corp.
Christopher S. Pascucci(2) United States Director and President of Duck
Director and President Pond Corp.
Ralph P. Pascucci(2) United States Director, Vice President,
Director, Vice President, Secretary and Treasurer of Duck
Secretary and Treasurer Pond Corp.
Duck Pond Corp.
Executive Officers and Directors
As of November 22, 1999
Principal Occupation or
Employment and Name, Principal
Business and Address of
Organization in which
Name and Business Addresses Citizenship Employment Conducted(1)
- --------------------------- ----------- ------------------------------
Michael C. Pascucci(2) United States Director of Duck Pond Corp.
Christopher S. Pascucci(2) United States Director and President of Duck
Pond Corp.
Ralph P. Pascucci(2) United States Director, Vice President,
Secretary and Treasurer of Duck
Pond Corp.
Charles E. Becker(2) United States Vice President of Duck Pond
Corp.
- ------------------
(1) The business address of the organization in which each person's employment
is conducted is the same as the person's business address.
(2) The business address of each such person is 270 South Service Road,
Melville, New York 11747.
Page 15 of 15 pages