SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1) *
Amwest Insurance Group, Inc.
(Name of issuer)
Common Stock, $.01 Par Value
(Title of class of securities)
032345100
(CUSIP number)
Mr. Phillip E. Huff, Vice President and Treasurer
6320 Canoga Avenue, Suite 300, Woodland Hills, CA 91367
(Name, address and telephone number of person authorized to
receive notices and communications)
March 22, 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.
(Continued on following pages)
Page 1 of 5 Pages
* 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. 032345100 13D Page 2 of 5 Pages
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
John E. Savage
###-##-####
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP * (a)
(b) X
3 SEC USE ONLY
4 SOURCE OF FUNDS *
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 of America
7 SOLE VOTING POWER
151,616 shares
NUMBER OF 8 SHARED VOTING POWER
SHARES None
BENEFICIALLY
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH REPORTING 151,616 shares
PERSON WITH
10 SHARED DISPOSITIVE POWER
None
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
151,616 shares
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES *
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.3%
14 TYPE OF REPORTING PERSON *
IN
<PAGE>
Item 1. Security and Issuer
This Amendment to Schedule 13D relates to the shares of Common
Stock, $.01 par value (the "Shares"), of Amwest Insurance Group, Inc., a
Delaware corporation ("Amwest"). The principal executive offices of Amwest are
located at 6320 Canoga Avenue, Suite 300, Woodland Hills, California 91367.
Item 2. Identity and Background
This Amendment to Schedule 13D is being filed by John E. Savage
("Savage") having his business address at 6320 Canoga Avenue, Suite 300,
Woodland Hills, California 91367. Savage is employed as the Co-Chief Executive
Officer, President and Chief Operating Officer of Amwest and is a citizen of the
United States of America.
During the last five years, Savage has not been convicted in a
criminal proceeding and has not 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
Savage has received, in his capacity as Co-Chief Executive
Officer, President and Chief Operating Officer of Amwest, options to purchase
Shares, pursuant to Amwest's Stock Option Plan. Certain of such options vest
over five-years and certain vest over ten-years. Since the initial filing on
Schedule 13D dated April 3, 1992 in which Savage disclosed beneficial ownership
of 122,791 shares, Amwest on May 20, 1993, March 22, 1994 and April 4, 1995
granted to Savage options to purchase an aggregate of 30,800 Shares. In
addition, certain options granted before April 3, 1992 have vested.
Consequently, options to purchase an aggregate of 28,825 Shares held by Savage
have vested since April 3, 1992 (21,125 Shares pursuant to options granted
before April 3, 1992 and 7,700 Shares pursuant to options granted after April 3,
1992). Pursuant to Rule 13d-3, the Shares underlying such vested options are
deemed beneficially owned by Savage.
Item 4. Purpose of Transaction
Savage received options to purchase Shares pursuant to Amwest's
Stock Option Plan. Savage's beneficial ownership of Shares will increase in the
future as additional options previously granted to him by Amwest, as well as any
options granted in the future, vest.
Item 5. Interest in Securities of the Issuer
Savage beneficially owns an aggregate of 151,616 Shares,
representing 6.3% of the outstanding Shares as computed in accordance with SEC
Rule 13d-3(d)(1)(i). Savage serves as Trustee of the following Trusts: (1)
Savage Family Stock Trust FBO Sandra Lee Savage which owns 19,478 Shares; (2)
Savage Family Stock Trust FBO Lorraine Ann Savage which owns 19,478 Shares; and
(3) Savage Family Stock Trust FBO Geraldine K. Thuresson which owns 19,479
Shares. In his capacity as Trustee, Savage has the sole power to vote or to
direct the vote of, and the sole power to dispose or to direct the disposition
of, such Shares. Savage directly owns 40,606 Shares. In addition, 52,575 Shares
beneficially owned by Savage represent Shares which may be acquired by Savage
within 60 days of January 15, 1996, pursuant to the exercise of options under
Amwest's Stock Option Plan.
Page 3 of 5 Pages
<PAGE>
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer
Savage serves as Co-Chief Executive Officer, President and Chief
Operating Officer of Amwest. Savage is a party to a Senior Executive Severance
Agreement with Amwest, pursuant to which Savage is entitled to certain
compensation in the event his employment with Amwest is terminated under certain
conditions. Savage is also a party to an indemnity agreement with Amwest
regarding Savage's actions as an officer and director of Amwest. Pursuant to the
terms of his employment, Savage from time to time may receive options to
purchase Shares.
Item 7. Material to be filed as Exhibits
None
Page 4 of 5 Pages
<PAGE>
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: January 16, 1996
/s/ JOHN E. SAVAGE
___________________
John E. Savage
Page 5 of 5 Pages
