<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934*
(AMENDMENT NO. 4)
K Swiss Inc.
------------------------------------------------------
(Name of Issuer)
Class A Common Stock, $0.01 par value per share
--------------------------------------------------------
(Title of Class of Securities)
482686-10-2
---------------------------------------
(CUSIP Number)
Stanley J. Bernstein, Chairman, The Biltrite Corporation,
Stephen A. Fine, Two University Office Park, 51 Sawyer Road,
Waltham, MA 02254; with a copy to Don S. DeAmicis, Ropes & Gray,
One International Place, Boston, MA 02110
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
August 21, 1998
--------------------------------------------------------
(Dates of Events which Require 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
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).
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SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 482686-10-2 PAGE 2 OF 6 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Biltrite Corporation 04-3031551
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
355,094
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
355,094
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
355,094
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
9.8
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
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SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 482686-10-2 PAGE 3 OF 6 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Stanley J. Bernstein ###-##-####
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
AF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
355,094
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
355,094
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
355,094
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
9.8
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
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SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 482686-10-2 PAGE 4 OF 6 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Stephen A. Fine ###-##-####
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
AF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
355,094
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
355,094
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
355,094
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
9.8
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
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ITEM 4. PURPOSE OF TRANSACTION
----------------------
The Biltrite Corporation ("Biltrite") purchased the shares of Class B
Common Stock of K-Swiss, Inc. (the "Company") reported herein solely for the
purpose of investment. Biltrite retains the right to vote its shares of Class B
Common Stock or to convert such shares into Class A Common Stock as it
determines, except as otherwise described in Item 6 hereof. Depending upon
market conditions and other factors that Biltite may deem material to its
investment decision, Biltrite may purchase shares of Class A Common Stock in the
open market, in private transactions or by any other permissible means or may
dispose of all or a portion of the Share of Class A or Class B Common Stock that
are presently owned or hereafter acquired. On August 21, 1998, Stanley J.
Bernstein and Stephen A. Fine resigned as directors of the Company. The Company
has filed a registration statement on Form S-3 covering a proposed offering of
347,294 shares of Class A Common Stock of the Company which are to be offered by
Biltrite.
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER
-------------------------------------
Biltrite is the beneficial owner of the shares of the Company to which this
Schedule relates. Biltrite has both the power to vote and the power to dispose
of such shares.
Under the definition of "beneficial ownership" in Rule 13d-3 of the Rules
and Regulations under the Securities Exchange Act of 1934, Stanley J. Bernstein
and Stephen A. Fine might also be deemed to be the beneficial owners (together
with Biltrite) of the shares because Stanley J. Bernstein and Stephen A. Fine
each are directors of Biltrite and collectively beneficially own 100% of the
voting shares of Biltrite.
Commencing on July 27, 1998 and continuing through the date hereof,
Biltrite has converted 41,300 shares of Class B Common Stock of the Company into
Class A Common Stock of the Company, and sold 41,300 shares of Class A Common
Stock on such dates, in such amounts and at such prices as set forth below. All
sales were effected by open market transactions.
<TABLE>
<CAPTION>
Date No. of Shares Price
---- ------------- -----
<S> <C> <C>
July 27, 1998 7,500 $ 26.00
July 27, 1998 11,500 26.00
July 27, 1998 2,500 26.375
July 31, 1998 10,500 24.625
August 4, 1998 1,000 25.00
August 4, 1998 1,500 25.25
August 11, 1998 5,000 24.625
August 12, 1998 1,800 24.625
</TABLE>
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As a result of these sales, Biltrite, as of the date hereof, is the
beneficial owner of 345,094 shares of Class B Common Stock, or 15.8% of the
Class B Common Stock outstanding, and 10,000 shares of Class A Common Stock.
Assuming all Class B Common Stock held by Biltrite were converted into Class A
Common Stock, Biltrite would be the beneficial owner of 9.8% of the Class A
Common Stock.
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.
THE BILTRITE CORPORATION
By: /s/ Stanley J. Bernstein
---------------------------------
Stanley J. Bernstein, Chairman
/s/ Stanley J. Bernstein
---------------------------------
Stanley J. Bernstein
/s/ Stephen A. Fine
---------------------------------
Stephen A. Fine
Dated: August 28, 1998
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