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. 10)1
Watts Industries, Inc.
(Name of Issuer)
Class A Common Stock, $0.10 par value per share
(Title of Class of Securities)
942749 10 2
(CUSIP number)
Frederic B. Horne
c/o Conifer Ledges, Ltd., 219 Liberty Square, Danvers, MA 01923-4302
(Name, Address and Telephone number of Person
Authorized to Receive Notices and Communications)
May 30, 2000
(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 [].
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7 for other
parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 6 Pages)
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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).
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13D
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CUSIP NO.
942749 10 2
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Frederic B. Horne
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
Not Applicable
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
The United States of America
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NUMBER OF 7 SOLE VOTING POWER
SHARES 1,719,473
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,719,473
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PERSON 10 SHARED DISPOSITIVE POWER
WITH: 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,719,473
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ X ]
<PAGE>
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.4%
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14 TYPE OF REPORTING PERSON *
IN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
Frederic B. Horne hereby amends and supplements his originally filed
Statement on Schedule 13D dated November 8, 1991 (the "Original Statement"), as
amended by Amendment No. 1 to his Statement on Schedule 13D filed September 10,
1997 (the "First Amended Statement"), Amendment No. 2 to his Statement on
Schedule 13D dated November 3, 1997, Amendment No. 3 to his Statement on
Schedule 13D dated February 5, 1998, Amendment No. 4 to his Statement on
Schedule 13D dated May 1, 1998, Amendment No. 5 to his Statement on Schedule
13D dated October 5, 1998, Amendment No. 6 to his Statement on Schedule 13D
dated November 17, 1998, Amendment No. 7 to his Statement on Schedule 13D dated
July 26, 1999, Amendment No. 8 to his Statement on Schedule 13D dated September
17, 1999 and Amendment No. 9 to his Statement on Schedule 13D dated October 5,
1999, with respect to the Class A Common Stock, par
value $0.10 per share (the "Common Stock") of Watts Industries, Inc. (the
"Company"). Unless otherwise indicated, capitalized terms used but not defined
herein shall have the meanings assigned to such terms in the Original
Statement. References herein to "Mr. Horne" shall be deemed to be references to
Frederic B. Horne, the reporting person.
ITEM 2. IDENTITY AND BACKGROUND.
(a) Name
Frederic B. Horne
(b) Residence or Business Address
219 Liberty Square
Danvers, MA 01923-4302
(c) Principal Occupation; Name and Address
of Principal Business Office
Independent Investor
219 Liberty Square
Danvers, MA 01923-4302
(d) Past Criminal Convictions
None
(e) Past Civil Proceedings or Administrative
Proceedings Related to Federal or State
Securities Laws Resulting in a Judgment,
Decree or Final Order Finding Violations or
Enjoining Future Violations of Such Laws
None
<PAGE>
(f) Citizenship
The United States of America
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
On May 12, 2000, Frederic B. Horne converted 237,923 shares of Class B
Common Stock into 237,923 shares of Class A Common Stock and on May 15, 2000,
Mr. Horne converted 11,000 shares of Class B Common Stock into 11,000 Shares of
Class A Common Stock (collectively, the "Conversion"). The Conversion required
no payment of funds or other consideration.
ITEM 4. PURPOSE OF TRANSACTION.
Frederic B. Horne effected the Conversion in order to be in a position to
achieve liquidity with respect to such shares.
Frederic B. Horne intends continuously to review his investment in the
Company and may from time to time acquire or dispose of shares of Class A
Common Stock, depending on various factors, including but not limited to
general economic conditions, monetary and stock market conditions and future
developments affecting Mr. Horne or the Company.
ITEM 5. INTEREST IN SECURITIES OF ISSUER.
(a) Amount Beneficially Owned:
Frederic B. Horne is deemed the beneficial owner of 1,719,473 shares of
Class A Common Stock of the Company.
Mr. Horne's beneficial ownership consists of (i) 1,485,873 shares of Class
A Common Stock of the Company beneficially owned by Mr. Horne, (ii) 22,600
shares of Class A Common Stock beneficially owned by an irrevocable trust
for the benefit of Kristina M. Horne for which Mr. Horne serves as
trustee, (iii) 11,000 shares of Class A Common Stock beneficially owned by
Mr. Horne as custodian for Kristina M. Horne under the Massachusetts
Uniform Gifts to Minors Act, and (iv) 200,000 shares of Class A Common
Stock beneficially owned by Mr. Horne as trustee pursuant to an
irrevocable trust for the benefit of Mr. Horne and Kristina M. Horne as
well as future descendents, for which Mr. Horne serves as a trustee.
Percent of Class:
6.5 % See Note 1.
(b) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 1, 719,473
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition of: 1,719,473
(iv) Shared power to dispose or direct the disposition of: 0
(c) Mr. Horne engaged in the following transactions in the last sixty days:
None.
(d) Not applicable
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(e) Not applicable
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
None.
* * *
This statement speaks as of its date, and no inference should be drawn
that no change has occurred in the facts set forth herein after the date
hereof.
Note 1: The percentages above have been determined as of the date hereof,
based on information from the Company's last quarterly report (the "Report").
According to the Report, for the quarterly period ended March 31, 2000, there
were outstanding and entitled to vote as of April 28, 2000, 26,388,731 shares of
Common Stock consisting of 16,903,484 shares of Class A Common Stock and
9,485,247 shares of Class B Common Stock. Each share of Class B Common Stock is
convertible into one share of Class A Common Stock.
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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.
May 30, 2000
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Date
/s/ Frederic B. Horne
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Frederic B. Horne
