UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
SCHEDULE 13D
(Rule 13d-1)
Under the Securities Exchange Act of 1934
(Amendment No. 1)
NYMAGIC, Inc.
-------------
(Name of Issuer)
Common Stock, $1.00 Par Value
-----------------------------
(Title of Class of Securities)
629484 10 6
-----------
(CUSIP Number)
Howard S. Tuthill, III
c/o Cummings & Lockwood
Four Stamford Plaza, P.O. Box 120
Stamford, Connecticut 06904
(203) 327-1700
--------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
May 5, 1999
-----------
(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 [_]
Page 1 of 7 Pages
<PAGE>
- ------------------------------ --------------------------------
CUSIP No. 629484 10 6 Page 2 of 7 Pages
- ------------------------------ --------------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Louise B. Tollefson Florida Intangible Tax Trust u/a 12/9/98
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [_]
(b) [_]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
- ---------- ---------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)[_]
- ---------- ---------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
- --------------------- ------- --------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
------- --------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON
------- --------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- ---------- ---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)[_]
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
OO
- ---------- ---------------------------------------------------------------------
<PAGE>
- ------------------------------ --------------------------------
CUSIP No. 629484 10 6 Page 3 of 7 Pages
- ------------------------------ --------------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Howard S. Tuthill
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [_]
(b) [_]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
- ---------- ---------------------------------------------------------------------
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
- --------------------- ------- --------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
------- --------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON
------- --------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- ---------- ---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)[_]
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- ---------- ---------------------------------------------------------------------
<PAGE>
- ------------------------------ --------------------------------
CUSIP No. 629484 10 6 Page 4 of 7 Pages
- ------------------------------ --------------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Howard S. Tuthill, III
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [_]
(b) [_]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
- ---------- ---------------------------------------------------------------------
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
- --------------------- ------- --------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
------- --------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON
------- --------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- ---------- ---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)[_]
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- ---------- ---------------------------------------------------------------------
<PAGE>
Page 5 of 7
Introduction
------------
This Amendment No. 1 to Schedule 13D is being filed in order to report
the transfer of an aggregate of 1,814,611 shares of common stock, $1.00 par
value (the "Common Stock"), of NYMAGIC, Inc., a New York corporation (the
"Issuer"), from the Louise B. Tollefson Florida Intangible Tax Trust u/a 12/9/98
(the "FIT Trust") to the Louise B. Tollefson Revocable Trust dated 12/23/97 (the
"Revocable Trust"). Louise B. Tollefson ("Tollefson") is a beneficiary of the
FIT Trust and is both the sole Trustee and a beneficiary of the Revocable Trust.
On April 8, 1999, Howard S. Tuthill III was appointed an additional trustee of
the FIT Trust and was delegated sole power to vote the shares of Common Stock
held by the FIT Trust.
ITEM 1. SECURITY AND ISSUER.
There has been no change to this Item.
ITEM 2. IDENTITY AND BACKGROUND.
This Schedule is being filed by the FIT Trust and by each of Howard S.
Tuthill and Howard S. Tuthill III as co-trustees of the FIT Trust. The principal
business address of the FIT Trust and each of the co-trustees (collectively, the
"Reporting Persons") is c/o Cummings & Lockwood, Four Stamford Plaza, P.O. Box
120, Stamford, Connecticut 06904. Both of the co-trustees are partners at
Cummings & Lockwood, a law firm headquartered in Stamford, Connecticut.
During the last five years, none of the Reporting Persons has been
convicted in a criminal proceeding nor been the subject of 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.
The transaction which requires the filing of this Amendment was a
transfer which was effected without consideration. On May 5, 1999, the FIT Trust
effected a transfer of an aggregate of 1,814,611 shares of Common Stock to the
Revocable Trust.
ITEM 4. PURPOSE OF TRANSACTION.
The purpose of the transfer of 1,814,611 shares of Common Stock from
the FIT Trust to the Revocable Trust was to implement certain aspects of
Tollefson's estate and tax planning.
None of the Reporting Persons has any plans or proposals which would
result in any of the consequences listed in paragraphs (a) - (j) of Item 4 of
Schedule 13D.
<PAGE>
Page 6 of 7
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) and (b) Set forth in the table below are the number and percentage
of shares of Common Stock of the Issuer beneficially owned by each Reporting
Person named in Item 2 as of the date hereof:
<TABLE>
<CAPTION>
Aggregate
Number of Shares Number of Shares Number
Beneficially Owned Beneficially Owned of Shares Percentage of
With Sole Voting and With Shared Voting and Beneficially Shares
Dispositive Power Dispositive Power Owned Beneficially Owned
-------------------- ---------------------- ------------ ------------------
Louise B.
Tollefson
Florida
<S> <C> <C> <C> <C>
Intangible Tax 0 0 0 0%
Trust u/a 12/9/98
0 0 0 0%
Howard S. Tuthill
Howard S.
Tuthill, III 0 0 0 0%
</TABLE>
(c) On May 5, 1999, 1,814,611 shares of Common Stock were transferred
from the FIT Trust to the Revocable Trust. No consideration was given or
received for this transfer.
(d) None.
(e) Not Applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Pursuant to the terms of the Trust Agreement, dated December 9, 1998,
executed in connection with the establishment of the FIT Trust (the "Trust
Agreement"), Tuthill is obligated to distribute the assets held by the FIT Trust
to the acting Trustee of the Revocable Trust on April 30th of each year.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit
Number Description
- ------- -----------
1. Agreement, dated as of May 18, 1999 among the Reporting Persons
relating to the filing of a joint Schedule 13D.
<PAGE>
Page 7 of 7
SIGNATURES
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: May 18, 1999
/s/ Howard S. Tuthill
------------------------------------
Howard S. Tuthill
/s/ Howard S. Tuthill, III
------------------------------------
Howard S. Tuthill, III
LOUISE B. TOLLEFSON FLORIDA
INTANGIBLE TAX TRUST U/A 12/9/98
By: /s/ Howard S. Tuthill, III
---------------------------------
Howard S. Tuthill, III
Co-Trustee
EXHIBIT 1
AGREEMENT
---------
This Agreement is made as of the 18th day of May, 1999 by and among the
Louise B. Tollefson Florida Intangible Tax Trust dated 12/9/98, Howard S.
Tuthill and Howard S. Tuthill, III.
The parties hereto hereby agree that a single, joint statement
containing the information required by Schedule 13D under the Securities
Exchange Act of 1934 with respect to the beneficial ownership of shares of
Common Stock of NYMAGIC, Inc., a New York corporation, may be filed with the
Securities and Exchange Commission on behalf of each of the undersigned.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first written above.
LOUISE B. TOLLEFSON FLORIDA
INTANGIBLE TAX TRUST DATED 12/9/98
By: /s/ Howard S. Tuthill, III
------------------------------------------
Howard S. Tuthill, III
Co-Trustee
/s/ Howard S. Tuthill
------------------------------------------
Howard S. Tuthill
/s/ Howard S. Tuthill, III
------------------------------------------
Howard S. Tuthill, III
