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Previous: EASTERN BANCORP INC, SC 13D, 1996-11-26 |
Next: UNITED HIGH INCOME FUND II INC, N-30D, 1996-11-26 |
<PAGE>
SCHEDULE 13(d)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Under the Securities Act of 1934
(Amendment No. 1)
EASTERN BANCORP, INC.
COMMON STOCK
CUSIP NO. 276269107
Date of event which requires filing this statement: November 13, 1996
1. NAME OF REPORTING PERSON: James M. Sutton
6402 South Troy Circle
Englewood, CO 80111
(303) 771-6661
2. MEMBER OF GROUP: N/A
3. SEC USE ONLY:
4. SOURCE OF FUNDS: Cash
5. DISCLOSURE OF LEGAL PROCEEDINGS: N/A
6. CITIZENSHIP: United States Citizen
7. SOLE VOTING POWER: 277,500
8. SHARED VOTING POWER: 0
9. SOLE DISPOSITIVE POWER: 277,500
10. SHARED DISPOSITIVE POWER: 0
11. AGGREGATE AMOUNT BENEFICIALLY 361,350
OWNED BY REPORTING PERSON:
*67,200 owned by wife
disclaimed as beneficial
ownership.
12. CHECK IF AGGREGATE IN ROW 11. N/A
EXCLUDES CERTAIN SHARES:
<PAGE>
13. PERCENTAGE OF BENEFICIAL 9.8%
OWNERSHIP:
14. TYPE OF REPORTING PERSON: Individual (IN)
ITEM 1. SECURITY AND ISSUER:
Eastern Bancorp, Inc.
537 Central Avenue
Dover, NH 03820
ITEM 2. IDENTITY AND BACKGROUND:
(a): James M. Sutton
(b): Bus: 6402 South Troy Circle
Englewood, CO 80111
(c): Banking, Ameribank
Welch, WV
(d): No
(e): No
(f): United States Citizenship
<PAGE>
ITEM 3. SOURCE AND AMOUNT OF FUNDS: Mr. Sutton acquired an
aggregate of 5,250 shares
of common stock, $.01 par
value per share (the
"Common Stock"), pursuant
to (i) the grant and/or
exercise of stock options
under the stock option plans
of Eastern Bancorp, Inc.
(the "Issuer") and (ii)
certain of the Issuer's
equity-based compensation
plans such as the
Directors' Deferred
Compensation Plan. Mr.
Sutton acquired an
aggregate of 356,100 shares
of the Common Stock in open
market purchases from
May 1990 through June 1996
at purchase prices ranging
from $3.50 to $23.50 per
share.
ITEM 4. PURPOSE OF TRANSACTION:
(a): On November 13, 1996, the
reporting person and
certain other individuals
executed a Stockholders'
Agreement pursuant to which
such persons agreed to vote
all shares of Common Stock
that such persons
beneficially own for the
proposed merger of the
Issuer with and into
Vermont Financial Services
Corporation and against any
other similar transaction
involving the Issuer.
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER:
(a): Mr. Sutton owns 361,350
shares of Common Stock,
approximately 9.8% of the
Issuer's outstanding common
stock. This number
includes 267,750 shares of
Common Stock owned by JMS
Investors, Ltd., a Family
Limited Partnership of
which Mr. Sutton is the
general partner.
Mr. Sutton disclaims
beneficial ownership of
these shares, except to the
extent of his direct
pecuniary interest therein.
This number also includes
an aggregate of 4,500
shares owned by Mr. Sutton
as custodian for his
children. This number also
includes 3,300 shares owned
by Mr. Sutton's wife and an
aggregate of 63,900 shares
owned by Mr. Sutton's wife
as custodian for their
children over which
Mr. Sutton has no voting or
dispositive power. This
number also includes 5,250
shares owned by American
Bankshares, Inc. over which
Mr. Sutton shares voting
and dispositive power.
This number also includes
5,250 shares of Common
stock issuable upon the
exercise of stock options
that are exercisable within
60 days of October 31,
1996.
<PAGE>
(b): The reporting person has
the sole power to vote
277,500 shares and the
power to dispose of same.
(c): Following is the listing of
stock purchased by the
reporting person or related
parties at Dean Witter,
Denver Tech Center Office*
*Recap & attached
Attachments A-1 -- A-13.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER:
On November 13, 1996, the reporting
person and certain other individuals
executed a Stockholders' Agreement
pursuant to which such persons agreed to
vote all shares of Common Stock that
such persons beneficially own for the
proposed merger of the Issuer with
and into Vermont Financial Services
Corporation and against any other
similar transaction involving the
Issuer.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS:
None.
<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.
November 25, 1996
-------------------------
(Date)
/s/ James M. Sutton
-------------------------
(Signature)
/s/ James M. Sutton
-------------------------
(Name and Title)
<PAGE>
JAMES M SUTTON
- --------------------------------------------------------------------------------
# OF PRICE PER
DATE ACTION SHARES SHARE
- --------------------------------------------------------------------------------
05-17-90 BOUGHT 2,000 10.00
05-22-90 BOUGHT 2,000 10.25
05-23-90 BOUGHT 6,000 10.25
05-25-90 BOUGHT 10,000 10.13
06-07-90 BOUGHT 5,000 9.88
06-08-90 BOUGHT 5,000 9.88
08-23-90 BOUGHT 1,000 7.25
08-23-90 BOUGHT 2,000 7.50
08-24-90 BOUGHT 8,000 7.50
08-28-90 BOUGHT 5,000 7.25
08-31-90 BOUGHT 10,000 7.25
09-18-90 BOUGHT 2,000 8.00
09-20-90 BOUGHT 1,000 7.75
09-21-90 BOUGHT 6,500 7.75
09-24-90 BOUGHT 2,500 7.75
09-28-90 BOUGHT 2,000 7.50
10-01-90 BOUGHT 4,000 7.50
10-02-90 BOUGHT 4,000 7.50
10-09-90 BOUGHT 2,500 7.25
10-10-90 BOUGHT 5,500 7.25
10-12-90 BOUGHT 2,000 7.25
10-12-90 BOUGHT 10,000 7.00
11-02-90 BOUGHT 2,500 7.25
11-06-90 BOUGHT 7,500 7.25
12-17-90 BOUGHT 3,000 7.25
05-21-93 BOUGHT 2,000 12.50
05-24-93 BOUGHT 1,000 12.50
05-25-93 BOUGHT 1,000 12.50
06-22-93 BOUGHT 1,000 12.00
06-30-93 BOUGHT 1,000 12.00
07-07-93 BOUGHT 2,000 12.50
07-26-93 SENT TO JIM SUTTON (117,000) N/A
STOCK CERTIFICATES
11-08-93 SENT TO JIM SUTTON (2,000) N/A
STOCK CERTIFICATE
04-06-94 BOUGHT 2,000 15.75
04-19-94 GIFTED TO (2,000) N/A
JIM SUTTON INVESTORS LTD
343-60730
TOTAL SHARES AS OF 11-21-96 0
A-1
<PAGE>
JAMES M SUTTON INVESTORS LTD
A PARTNERSHIP
- --------------------------------------------------------------------------------
# OF PRICE PER
DATE ACTION SHARES SHARE
- --------------------------------------------------------------------------------
08-23-93 RECEIVED STOCK 69,000 N/A
CERTIFICATES FROM
JIM SUTTON
04-11-94 RECEIVED STOCK 50,000 N/A
CERTIFICATES FROM
JIM SUTTON
04-19-94 GIFTED FROM 2,000 15.75
JIM SUTTON
343-35542
10-06-94 BOUGHT 5,000 20.50
10-14-94 BOUGHT 27,500 20.50
10-28-94 BOUGHT 10,000 18.00
11-02-94 BOUGHT 5,000 17.75
11-18-94 BOUGHT 1,000 18.25
11-22-94 BOUGHT 4,000 18.25
11-22-94 BOUGHT 4,000 17.75
11-23-94 BOUGHT 1,000 17.63
06-19-96 STOCK SPLIT 3:2 89,250
TOTAL SHARES AS OF 11-21-96 267,750
A-2
<PAGE>
AMERICAN BANKSHARES INC
- --------------------------------------------------------------------------------
# OF PRICE PER
DATE ACTION SHARES SHARE
- --------------------------------------------------------------------------------
05-09-96 BOUGHT 2,500 23.50
05-20-96 BOUGHT 200 23.50
06-10-96 BOUGHT 800 23.50
06-19-96 STOCK SPLIT 3:2 1,750
TOTAL SHARES AS OF 11-21-96 5,250
A-3
<PAGE>
DEBORAH ANN SUTTON IRA
- --------------------------------------------------------------------------------
# OF PRICE PER
DATE ACTION SHARES SHARE
- --------------------------------------------------------------------------------
12-28-90 BOUGHT 3,300 6.75
06-19-96 STOCK SPLIT 3:2 1,650
TOTAL SHARES AS OF 11-21-96 4,950
A-4
<PAGE>
JAMES M SUTTON IRA
- --------------------------------------------------------------------------------
# OF PRICE PER
DATE ACTION SHARES SHARE
- --------------------------------------------------------------------------------
12-26-90 BOUGHT 1,000 6.75
12-26-90 BOUGHT 6,600 6.75
06-19-96 STOCK SPLIT 3:2 3,800
TOTAL SHARES AS OF 11-21-96 11,400
A-5
<PAGE>
DEBORAH A SUTTON C/F
JASON H SUTTON
- --------------------------------------------------------------------------------
# OF PRICE PER
DATE ACTION SHARES SHARE
- --------------------------------------------------------------------------------
12-26-90 BOUGHT 1,025 6.75
01-07-91 BOUGHT 250 6.75
01-09-91 BOUGHT 375 6.75
01-10-91 BOUGHT 1,250 6.75
01-11-91 BOUGHT 625 6.75
01-17-91 BOUGHT 375 6.50
01-18-91 BOUGHT 500 6.50
07-08-91 BOUGHT 2,500 6.25
07-10-91 BOUGHT 1,250 5.75
11-21-91 BOUGHT 500 5.75
11-26-91 BOUGHT 750 5.75
12-02-91 BOUGHT 500 5.25
12-04-91 BOUGHT 750 5.25
06-19-96 STOCK SPLIT 3:2 5,325
TOTAL SHARES AS OF 11-21-96 15,975
A-6
<PAGE>
DEBORAH A SUTTON C/F
PRESTON H SUTTON
- --------------------------------------------------------------------------------
# OF PRICE PER
DATE ACTION SHARES SHARE
- --------------------------------------------------------------------------------
12-26-90 BOUGHT 1,025 6.75
01-07-91 BOUGHT 250 6.75
01-09-91 BOUGHT 375 6.75
01-10-91 BOUGHT 1,250 6.75
01-11-91 BOUGHT 625 6.75
01-17-91 BOUGHT 375 6.50
01-18-91 BOUGHT 500 6.50
07-08-91 BOUGHT 2,500 6.25
07-10-91 BOUGHT 1,250 5.75
11-21-91 BOUGHT 500 5.75
11-26-91 BOUGHT 750 5.75
12-02-91 BOUGHT 500 5.25
12-04-91 BOUGHT 750 5.25
06-19-96 STOCK SPLIT 3:2 5,325
TOTAL SHARES AS OF 11-21-96 15,975
A-7
<PAGE>
DEBORAH A SUTTON C/F
MARLEY R SUTTON
- --------------------------------------------------------------------------------
# OF PRICE PER
DATE ACTION SHARES SHARE
- --------------------------------------------------------------------------------
12-26-90 BOUGHT 1,025 6.75
01-07-91 BOUGHT 250 6.75
01-09-91 BOUGHT 375 6.75
01-10-91 BOUGHT 1,250 6.75
01-11-91 BOUGHT 625 6.75
01-17-91 BOUGHT 375 6.50
01-18-91 BOUGHT 500 6.50
07-08-91 BOUGHT 2,500 6.25
07-10-91 BOUGHT 1,250 5.75
11-21-91 BOUGHT 500 5.75
11-26-91 BOUGHT 750 5.75
12-02-91 BOUGHT 500 5.25
12-04-91 BOUGHT 750 5.25
06-19-96 STOCK SPLIT 3:2 5,325
TOTAL SHARES AS OF 11-21-96 15,975
A-8
<PAGE>
DEBORAH A SUTTON C/F
PARKER H SUTTON
- --------------------------------------------------------------------------------
# OF PRICE PER
DATE ACTION SHARES SHARE
- --------------------------------------------------------------------------------
12-26-90 BOUGHT 1,025 6.75
01-07-91 BOUGHT 250 6.75
01-09-91 BOUGHT 375 6.75
01-10-91 BOUGHT 1,250 6.75
01-11-91 BOUGHT 625 6.75
01-17-91 BOUGHT 375 6.50
01-18-91 BOUGHT 500 6.50
07-08-91 BOUGHT 2,500 6.25
07-10-91 BOUGHT 1,250 5.75
11-21-91 BOUGHT 500 5.75
11-26-91 BOUGHT 750 5.75
12-02-91 BOUGHT 500 5.25
12-04-91 BOUGHT 750 5.25
06-19-96 STOCK SPLIT 3:2 5,325
TOTAL SHARES AS OF 11-21-96 15,975
A-9
<PAGE>
JAMES M SUTTON C/F
JASON H SUTTON
- --------------------------------------------------------------------------------
# OF PRICE PER
DATE ACTION SHARES SHARE
- --------------------------------------------------------------------------------
04-28-93 BOUGHT 250 13.50
05-17-93 BOUGHT 500 13.00
06-19-96 STOCK SPLIT 3:2 375
TOTAL SHARES AS OF 11-21-96 1,125
A-10
<PAGE>
JAMES M SUTTON C/F
PRESTON H SUTTON
- --------------------------------------------------------------------------------
# OF PRICE PER
DATE ACTION SHARES SHARE
- --------------------------------------------------------------------------------
04-28-93 BOUGHT 250 13.50
05-17-93 BOUGHT 500 13.00
06-19-96 STOCK SPLIT 3:2 375
TOTAL SHARES AS OF 11-21-96 1,125
A-11
<PAGE>
JAMES M SUTTON C/F
MARLEY R SUTTON
- --------------------------------------------------------------------------------
# OF PRICE PER
DATE ACTION SHARES SHARE
- --------------------------------------------------------------------------------
04-28-93 BOUGHT 250 13.50
05-17-93 BOUGHT 500 13.00
06-19-96 STOCK SPLIT 3:2 375
TOTAL SHARES AS OF 11-21-96 1,125
A-12
<PAGE>
JAMES M SUTTON C/F
PARKER R SUTTON
- --------------------------------------------------------------------------------
# OF PRICE PER
DATE ACTION SHARES SHARE
- --------------------------------------------------------------------------------
04-28-93 BOUGHT 250 13.50
05-17-93 BOUGHT 500 13.00
06-19-96 STOCK SPLIT 3:2 375
TOTAL SHARES AS OF 11-21-96 1,125
A-13
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