UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
KAUFMAN AND BROAD HOME CORPORATION
(Name of Issuer)
COMMON STOCK, $1.00 Par Value
(Title of Class of Securities)
486168 10 7
(CUSIP Number)
SUSAN L. HARRIS
SENIOR VICE PRESIDENT & GENERAL COUNSEL
SUNAMERICA INC.
1 SUNAMERICA CENTER, LOS ANGELES, CA 90067
(310)772-6000 772-6000
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 25, 1996
(Date of Event which Required 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 orless 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).
SCHEDULE 13D
CUSIP No. 486168 10 7 Page 2 of 5 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Eli Broad (SSN: ###-##-####)
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF
A GROUP* (a) / /
(b) / /
Not Applicable
3. SEC USE ONLY
4. SOURCE OF FUNDS*
Not Applicable
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
Not Applicable
6. CITIZENSHIP OR PLACE OR ORGANIZATION
U.S.A.
7. SOLE VOTING POWER
NUMBERS OF 923,435
SHARES 8. SHARED VOTING POWER
-0-
BENEFICIALLY
OWNED BY 9. SOLE DISPOSITIVE POWER
923,435
EACH
10. SHARED DISPOSITIVE POWER
REPORTING -0-
PERSON
WITH
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,583,452 (includes 660,017 shares held by a trust formed by the
Reporting Person as to which he has no voting or dispositive power).
12. CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
Not Applicable
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.89%
14. TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND
THE SIGNATURE ATTESTATION.
Page 3 of 5 Pages
SCHEDULE 13D
AMENDMENT NO. 5
KAUFMAN AND BROAD HOME CORPORATION
This Amendment is filed on behalf of Eli Broad (the "Reporting
Person").
The undersigned hereby amends and restates the amended Schedule
13D filed on March 3, 1995, relating to the Common Stock ($1.00 par value) of
Kaufman and Broad Home Corporation ("Issuer") in its entirety. The Issuer's
principal executive offices are located at 10990 Wilshire Boulevard, Los
Angeles, California 90024. Unless otherwise indicated in this Amendment, all
terms referred to herein shall have the same meanings as used or defined in the
Schedule 13D.
ITEM 2 - IDENTITY AND BACKGROUND.
(a) Name: Eli Broad
(b) Business Address: 1 SunAmerica Center
Los Angeles, California 90067
(c) Present Principal Occupation or Employment:
Chairman of the Board and Chief Executive Officer
of SunAmerica Inc.
(d) None
(e) None
(f) U.S.A.
ITEM 3 - SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
On March 7, 1989, SunAmerica Inc. (previously known as "Broad Inc.,"
and prior to that, as "Kaufman and Broad, Inc.") distributed to holders of its
common and Class B stock substantially all of the shares of its majority owned
subsidiary, the Issuer (the "Distribution"). On March 7, 1989 the Reporting
Person held 446,912 shares of SunAmerica Inc. common stock and 5,706,003 shares
of SunAmerica Inc. Class B stock. Pursuant to the Distribution, the Reporting
Person received 4,512,254 shares of the Issuer's common stock.
Additionally, 243,055 shares of common stock of the Issuer were issued
to the Reporting Person upon the exchange of Kaufman and Broad, Inc. 7-1/2%
Exchangeable Debentures which were acquired at par.
ITEM 4 - PURPOSE OF TRANSACTION.
The Reporting Person owns directly and indirectly 73% of the
shares of a corporation (Stanford Ranch, Inc.) which has owned 1,419,038 shares
of the Issuer. On January 25, 1996, all such shares were sold by Stanford
Ranch, Inc., in a block trade to Goldman Sachs & Co., at $14.125 per share
resulting in a net price of $14 per share after commissions and fees. The sale
was made in order to satisfy the requirements of a share exchange agreement
between Stanford Ranch, Inc. and SunAmerica Inc. dated January 12, 1996.
In addition, the reporting person gave 765,000 shares of
common stock of the Issuer as a gift to the Eli Broad Family Foundation in July
of 1995. As part of the block trade described above, the Eli Broad Family
Foundation sold 20,962 of these shares at $14.125 per share, resulting in a net
price of $14 per share after commissions and fees, to provide for operating
capital.
Page 4 of 5 pages
ITEM 5 - INTEREST AND SECURITIES OF THE ISSUER.
(a) The Reporting Person beneficially owns 1,583,452 shares
of common stock which represents 4.89% of the outstanding shares (based upon
32,352,736 shares of common stock outstanding as of January 25, 1996). Because
the Reporting Person currently owns less than 5% of the outstanding shares, his
reporting obligation is terminated.
(b) Of these 1,583,452 shares of common stock beneficially
owned, 660,017 shares of common stock are held by a trust formed by the
Reporting Person of which he is a beneficiary but has no voting or dispositive
powers.
(c) The Reporting Person owns directly and indirectly 73%
of the shares of a corporation (Stanford Ranch, Inc.) which has owned 1,419,038
shares of the Issuer. On January 25, 1996, all such shares were sold by
Stanford Ranch, Inc., in a block trade to Goldman Sachs & Co., at $14.125 per
share resulting in a net price of $14 per share after commissions and fees.
The sale was made in order to satisfy the requirements of a share exchange
agreement between Stanford Ranch, Inc. and SunAmerica Inc. dated
January 12, 1996.
In addition, the reporting person gave 765,000 shares of
common stock of the Issuer as a gift to the Eli Broad Family Foundation in July
of 1995. As part of the block trade described above, the Eli Broad Family
Foundation sold 20,962 of these shares at $14.125 per share, resulting in a net
price of $14 per share after commissions and fees, to provide for operating
capital.
ITEM 6 - CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
None.
ITEM 7 - MATERIAL TO BE FILED AS EXHIBITS.
None.
Page 5 of 5 pages
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.
/s/ ELI BROAD
_________________
Eli Broad
Date: January 26, 1995
