SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
(Rule 13d-1)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13D-1(A) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13D-2(A)
ATLANTIS PLASTICS, INC.
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(Name of Issuer)
CLASS A COMMON STOCK, $.10 PAR VALUE
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(Title of Class of Securities)
049156 10 2
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(CUSIP Number)
ANTHONY F. BOVA
1870 THE EXCHANGE
SUITE 200
ATLANTA, GEORGIA 30339
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 16, 1998
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(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 6 PAGES
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CUSIP NO. 049156 10 2 13D PAGE 2 OF 6 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ANTHONY F. BOVA - SOCIAL SECURITY NUMBER ###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF (CASH USED TO PURCHASE 35,000 SHARES - SEE ITEM 3 BELOW)
00 OUTSTANDING STOCK OPTION - SEE ITEM 3 BELOW)
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
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NUMBER OF SHARES 7 SOLE VOTING POWER
220,000
SEE ITEM 5(A) HEREIN
BENEFICIALLY OWNED 8 SHARED VOTING POWER
35,000 SHARES ARE OWNED WITH HIS WIFE,
CATHERINE M. BOVA
SEE ITEM 5(A) HEREIN
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
220,000
SEE ITEM 5(A) HEREIN
PERSON WITH 10 SHARED DISPOSITIVE POWER
35,000 SHARES ARE OWNED WITH
HIS WIFE, CATHERINE M. BOVA
SEE ITEM 5(A) HEREIN
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
255,000 SEE ITEM 5(A) HEREIN
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.4% SEE ITEM 5(A) HEREIN
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14 TYPE OF REPORTING PERSON
IN
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1 SECURITY AND ISSUER.
This Statement relates to the Class A Common Stock, par value $.10 per
share (the "Class A Common Stock"), of ATLANTIS PLASTICS, INC.
("Atlantis" or the "Company"). The executive offices of Atlantis are
located at 1870 The Exchange, Suite 200, Atlanta, Georgia 30339.
2 IDENTITY AND BACKGROUND.
(a)-(c) Anthony F. Bova ("Bova") is a Georgia resident. Mr. Bova's
address is 1870 The Exchange, Suite 200, Atlanta, Georgia
30339. Mr. Bova is currently the President, Chief Executive
Officer and Director of Atlantis.
(d) Mr. Bova has not been convicted in a criminal proceeding in
the last five years.
(e) During the last five years, Mr. Bova has not been a party to
a civil proceeding of a judicial or administrative body of
competent jurisdiction which resulted in it being subject to
a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities
subject to, Federal or state securities laws.
(f) Mr. Bova is a United States citizen.
3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Except for the 35,000 shares purchased by Mr. Bova as indicated below,
all other shares of Atlantis beneficially owned by the Reporting Person
are not outstanding and are subject to issuance pursuant to the
Reporting Person's stock options described below. The Reporting Person
did not pay any consideration for the stock options, all of which were
granted to him by Atlantis as part of his compensation for his services
as an officer of Atlantis, as described below.
The Company granted the Reporting Person under the Amended and Restated
1990 Stock Option Plan options vesting 20% per year for 5 years, with a
term of 10 years as follows:
NUMBER OF SHARES EXERCISE PRICE ($)
150,000 5 7/8
100,000 8 7/8
100,000 11 7/8
In November 1995, the Reporting Person purchased 35,000 shares in a
private transaction from a major stockholder of Atlantis Plastics,
Inc., at a price of $3.50 per share which the Reporting Person paid in
cash.
On February 14, 1996, the Compensation Committee of the Company granted
the Reporting Person options for 25,000 shares under its Amended and
Restated 1990 Stock Option Plan, with an exercise price of $4.75 per
share, vesting 20% per year for 5 years and an option term of 10 years.
On February 13, 1998, the Compensation Committee of the Company granted
the Reporting Person additional options for 48,000 shares under its
1997 Stock Option Plan, at an exercise price of $5.50 per share,
vesting 20% per year for 5 years and an option term of 10 years.
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Both stock option plans have been registered pursuant to an S-8 filing.
As of this filing, 220,000 shares are immediately exercisable. The
following table summarizes the option grants and of those grants, the
options which have vested:
<TABLE>
<CAPTION>
GRANT OPTIONS OPTIONS OPTION DATE OF
DATE TYPE GRANTED OUTSTANDING PRICE EXPIRATION OPTIONS VESTED
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<S> <C> <C> <C> <C> <C> <C>
02/01/1995 Non Qualified 150,000 150,000 $5.8750 02/01/2005 90,000 (current)
30,000 on 02/01/1999
30,000 on 02/01/2000
02/01/1995 Non Qualified 100,000 100,000 $8.8750 02/01/2005 60,000 (current)
20,000 on 02/01/1999
20,000 on 02/01/2000
02/01/1995 Non Qualified 100,000 100,000 $11.8750 02/01/2005 60,000 (current)
20,000 on 02/01/1999
20,000 on 02/01/2000
02/14/1996 Non Qualified 25,000 25,000 $4.7500 02/14/2006 10,000 (current)
5,000 on 02/14/1999
5,000 on 02/14/2000
5,000 on 02/14/2001
02/13/1998 Non Qualified 48,000 48,000 $5.5000 02/13/2008 0 (current)
9,600 on 02/13/1999
9,600 on 02/13/2000
9,600 on 02/13/2001
9,600 on 02/13/2002
_______ _______ 9,600 on 02/13/2003
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TOTALS 423,000 423,000 220,000
</TABLE>
4 PURPOSE OF TRANSACTION.
The Reporting Person has acquired the outstanding shares of Class A
Common Stock owned by him for investment purposes and not with the view
to, or for resale in connection with, any distribution thereof,
however, the Reporting Person may at any time, or from time to time,
depending on, among other things, his personal circumstances and need
for liquidity, and his investment objectives, including
diversification, sell or otherwise liquidate all or any portion of his
shares of Class A Common Stock, including shares he may purchase upon
exercise of the stock options described herein. The Reporting Person
has no present intention of selling, granting any participation in, or
otherwise distributing the Class A Common Stock. See Item 3 herein.
5 INTEREST IN SECURITIES OF ISSUER.
(a) To the best knowledge of Mr. Bova, as of June 26, 1998, he is
the beneficial owner of 255,000 shares of Class A Common Stock
which include (i) 35,000 shares directly owned with his wife
as tenants in common; and (ii) 220,000 shares issuable upon
exercise of presently exercisable options granted pursuant to
the Company's Amended and Restated
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1990 Stock Option Plan, or approximately 5.4% of the Class A
Common Stock currently outstanding, as calculated under
applicable rules.
(b) Mr. Bova has the sole power to vote and dispose of 220,000 of
his shares of Class A Common Stock, and shared power with
respect to the 35,000 shares owned with his wife.
(c) See Item 3 herein.
(d) Inapplicable.
(e) Inapplicable
6 CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Mr. Bova's options described above to purchase shares of the
Company's Class A Common Stock are subject to the terms and conditions
of the Atlantis Amended and Restated 1990 Stock Option Plan and its
1997 Stock Option Plan, including Mr. Bova's option agreements pursuant
to and in accordance with such plans.
7 MATERIAL TO BE FILED AS EXHIBITS.
EXHIBIT NUMBER DESCRIPTION
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1 Amended and Restated 1990 Stock Option Plan of
Atlantis(1)
2 1997 Stock Option Plan of Atlantis(2)
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(1) Incorporated by reference to Exhibit 10.2 and filed with the Atlantis
Registration Statement on Form S-8, filed on April 28, 1992, File No.
33-41012.
(2) Incorporated by reference to Exhibit A, filed with the Atlantis Schedule
14A filed on April 29, 1997.
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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.
JUNE 26, 1998
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(Date)
/S/ ANTHONY F. BOVA
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(Signature)
