UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Biovail Corporation International
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, no par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
09067k106
- --------------------------------------------------------------------------------
(CUSIP Number)
Associated Capital, L.P.
Associated Capital Offshore, L.P. Margery K. Neale, Esq.
A Cap, Inc. Shereff, Friedman, Hoffman & Goodman, LLP
Jay H. Zises 919 Third Avenue
Selig A. Zises New York, New York 10022
Nancy J. Frankel-Zises (212) 758-9500
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
March 20, 1997
-------------------------------------------------------
(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 |_|.
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 or less 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).
<PAGE>
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP No. 09067k106 Page 2 of 16 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ASSOCIATED CAPITAL, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
562,500
NUMBER OF ----------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY ----------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 562,500
REPORTING ----------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
562,500
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*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>
- --------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 09067k106 Page 3 of 16 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ASSOCIATED CAPITAL OFFSHORE, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
18,000
NUMBER OF ----------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY ----------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 18,000
REPORTING ----------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*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>
- --------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 09067k106 Page 4 of 16 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
A CAP, INC.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
580,500
NUMBER OF ---------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY ---------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 580,500
REPORTING ---------------------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
580,500
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*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>
- --------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 09067k106 Page 5 of 16 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JAY H. ZISES
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC, PF, 00
- --------------------------------------------------------------------------------
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
940,343
NUMBER OF ----------------------------------------------------------------
SHARES 8 SHARED VOTING POWER 106,949
BENEFICIALLY ----------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER 940,343
EACH ----------------------------------------------------------------
REPORTING 10 SHARED DISPOSITIVE POWER
PERSON 106,949
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,047,292
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.1%
- --------------------------------------------------------------------------------
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>
- --------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 09067k106 Page 6 of 16 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SELIG A. ZISES
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF, 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
416,936
NUMBER OF ----------------------------------------------------------------
SHARES 8 SHARED VOTING POWER 193,929
BENEFICIALLY ----------------------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER 416,936
EACH ----------------------------------------------------------------
REPORTING 10 SHARED DISPOSITIVE POWER
PERSON 193,929
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
610,865
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
- --------------------------------------------------------------------------------
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>
SCHEDULE 13D - Amendment No. 2
This Amendment No. 2 amends and supplements the Statement on Schedule 13D
filed with the Securities and Exchange Commission on September 28, 1995 (the
"Statement") with respect to the common stock, no par value per share, of
Biovail Corporation International (the "Common Stock"). Only those items of the
Statement that are amended and supplemented hereby are included herein. Unless
otherwise defined herein, all capitalized terms shall have the respective
meanings ascribed to them in the Statement.
Item 2. Identity and Background
(a), (b), (c) and (f) Associated Capital Offshore, L.P., a Cayman Islands
limited partnership ("Associated Offshore"), is being added to the Reporting
Persons originally specified in the Statement. The business address of
Associated Offshore is c/o Goldman Sachs (Cayman) Trust, Limited, P.O. Box 896,
George Town, Grand Cayman, Cayman Islands, British West Indies.
The principal business of Associated Offshore is investments.
Item 3. Source and Amount of Funds
The information contained in Item 3 to the Schedule is hereby amended and
supplemented as follows:
Associated Capital purchased an aggregate of 45,500 shares at an aggregate
cost of $1,381,437.50, using its own funds. Associated Offshore purchased an
aggregate of 48,000 shares at an aggregate cost of $1,299,305.50. Jay H. Zises
purchased an aggregate of 33,000 shares of Common Stock for his personal and
retirement accounts at an aggregate cost of $967,625.00, using his own funds.
Selig A. Zises purchased an aggregate of 218,700 shares of Common Stock, and
options to purchase 192,500 shares of Common Stock, for his personal and
retirement accounts at an aggregate cost of $5,350,681 and $348,520.75,
respectively, using his own funds. The 52,000 shares of Common Stock, and
options to purchase 181,000 shares of Common Stock, acquired by Lynn Zises were
acquired at an aggregate cost of $1,350,937.50 and $408,689.25, respectively,
using her own funds.
All of the amounts reported herein are net of commissions.
Item 5. Interest in Securities of the Issuer
The information contained in Item 5 to the Schedule is hereby amended and
supplemented as follows:
(a) and (b) Associated is the beneficial and record owner of 562,500
shares of
7
<PAGE>
Common Stock, or 2.2% of the outstanding shares of Common Stock. Associated
Offshore is the beneficial and record owner of 18,000 shares of Common Stock, or
less than 0.1% of the outstanding shares of Common Stock.
As the general partner of Associated, A Cap has the sole power to vote and
to direct the voting of and the sole power to dispose and direct the disposition
of the 562,500 shares of Common Stock owned by Associated. As the investment
manager or Associated Offshore, A Cap has the sole power to vote and to direct
the voting of and the sole power to dispose and direct the disposition of the
18,000 shares of Common Stock owned by Associated Offshore.1 Accordingly, A Cap
may be deemed to be the beneficial owner of such 580,500 shares of Common Stock
or 2.3% of the outstanding shares of Common Stock.
Jay Zises, as President of A Cap, has the sole power to vote and to direct
the voting of, and to dispose and to direct the disposition of, the shares of
Common Stock deemed to be beneficially owned by A Cap. Accordingly, Mr. Zises
may be deemed to be the beneficial owner of such 580,500 shares of Common Stock
or 2.3% of the outstanding shares of Common Stock.
Jay Zises is the beneficial and record owner of an aggregate of 350,486
shares of Common Stock or 1.4% of the outstanding in his personal account,
individual retirement account ("IRA") and Keogh account. As hereinafter
described, Mr. Zises also may be deemed to own beneficially an additional
116,306 shares of Common Stock or 0.5% of the outstanding. Such shares are owned
of record as follows: (i) 18,391 shares of Common Stock (0.1%) in the account of
his son, Justin Zises, (ii) 9,357 shares of Common Stock (less than 0.1%) held
in an UGMA account for the benefit of his daughter, Meryl Zises, (iii) 18,391
shares of Common Stock (0.1%) in the account of his daughter, Lara Zises, (iv)
18,391 shares of Common Stock (0.1%) in the account of his daughter, Samantha
Zises, (v) 23,388 shares of Common Stock (0.1%) in the account of his ex-wife,
Susan Zises, and (vi) 28,388 shares of Common Stock (0.1%) in the account of his
mother-in-law, Inge Frankel.
In addition to the 562,500 shares of Common Stock owned by Associated and
the 18,000 shares of Common Stock owned by Associated Offshore, Jay Zises has
sole power to vote or direct the vote of, and to dispose and to direct the
disposition of, 359,843 shares of Common Stock, consisting of (A) the 350,486
shares held in Mr. Zises's personal, IRA and Keogh accounts, and (B) the 9,357
shares held in the UGMA account for Meryl Zises. Jay Zises has shared power to
vote or direct the voting of, and shared power to dispose or direct the
disposition of 106,949 shares of Common Stock, consisting of (A) the 18,391
shares held in Lara Zises's account, (B) the 18,391 shares held in Samantha
Zises's account, (C) the 18,391 shares held in Justin Zises's account, (D) the
23,388 shares held in Susan Zises's account, and (E) the 28,388
- ----------
1 A Cap. Ltd., a Cayman Islands company, is the sole general partner
of Associated Offshore. A Cap Ltd. has delegated all of its
discretionary authority over the investments of Associated Offshore
to A Cap as investment manager.
8
<PAGE>
shares held in Inge Frankel's account.
Selig A. Zises is the beneficial and record owner of an aggregate of
315,436 shares of Common Stock and options to purchase 101,500 shares of Common
Stock, totalling 1.6% of the outstanding, in Mr. Zises's personal account and
IRA. In addition, as described below, Mr. Zises also may be deemed to own
beneficially an additional 147,929 shares of Common Stock and options to purchse
46,000 shares of Common Stock, totalling 0.8% of the outstanding, held in the
account of his daughter, Lynn Zises.
Selig A. Zises has sole power to vote or direct the voting of, and sole
power to dispose or direct the disposition of 416,936 shares of Common Stock,
consisting of all of the shares and options held in Mr. Zises's personal and IRA
accounts. Selig A. Zises has shared power to vote or direct the voting of, and
shared power to dispose or direct the disposition of 193,929 shares of Common
Stock, consisting of the shares and options held in Lynn Zises's account.
The number of shares beneficially owned by each of the Reporting Persons
and the percentage of outstanding shares represented thereby, have been computed
in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as
amended (the "Securities Exchange Act").
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
Selig A. Zises has an arrangement with a registered broker-dealer whereby
he is obligated to deliver 162,500 shares of Common Stock to such broker-dealer.
Lynn Zises has an arrangement with a registered broker-dealer whereby she is
obligated to deliver 130,500 shares of Common Stock to such broker-dealer.
Item 7. Material to be Filed as Exhibits
Exhibit A. Agreement of Joint Filing.
Exhibit B. Purchases of Common Stock and options to purchase Common Stock
of Issuer.
9
<PAGE>
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.
ASSOCIATED CAPITAL, L.P.
By: A CAP, INC., as General Partner
By: /s/ Jay H. Zises, President
----------------------------------------
Jay H. Zises, President
ASSOCIATED CAPITAL OFFSHORE, L.P.
By: A CAP, LTD., as General Partner
By: /s/ J.D. Hunter
----------------------------------------
J.D. Hunter, Managing Director
A CAP, INC.
By: /s/ Jay H. Zises, President
---------------------------------------
Jay H. Zises, President
/s/ Jay H. Zises
--------------------------------------------
JAY H. ZISES
/s/ Selig A. Zises
--------------------------------------------
SELIG A. ZISES
/s/ Nancy Frankel-Zises
--------------------------------------------
NANCY FRANKEL-ZISES
Dated: March 21, 1997
EXHIBIT A AGREEMENT OF JOINT FILING
In accordance with Rule 13d-1(f) under the Securities Exchange Act of
1934, as amended, the undersigned hereby agree to the joint filing with all
other Reporting Persons (as such term is defined in the Schedule 13D referred to
below) of a statement on Schedule 13D or any amendments thereto, with respect to
the Common Stock, no par value, of Biovail Corporation International and that
this Agreement be included as an Exhibit to such filing.
This Agreement may be executed in any number of counterparts each of which
shall be deemed to be an original and all of which together shall be deemed to
constitute one and the same Agreement.
IN WITNESS WHEREOF, the undersigned hereby execute this Agreement on the
21st day of March, 1997.
ASSOCIATED CAPITAL, L.P.
By: A CAP, INC., as General Partner
By: /s/ Jay H. Zises, President
---------------------------
Jay H. Zises, President
ASSOCIATED CAPITAL OFFSHORE, L.P.
By: A CAP, LTD., as General Partner
By: /s/ J.D. Hunter
---------------------------
J.D. Hunter, Managing Director
A CAP, INC.
By: /s/ Jay H. Zises, President
---------------------------
Jay H. Zises, President
/s/ Jay H. Zises,
------------------------------
Jay H. Zises
/s/ Selig A. Zises,
------------------------------
Selig A. Zises
/s/ Nancy Frankel-Zises,
------------------------------
Nancy Frankel-Zises
EXHIBIT B TRANSACTION SUMMARY
Biovail Corporation International
From 6/11/96 to 3/20/97
Trade Date # of Shares Price Net $
---------- ----------- ----- -----
Associated Capital, 06/11/96 10,000 $36.750 $367,500.00
- ------------------ 06/19/96 5,000 $34.375 $171,875.00
L.P. 06/24/96 5,000 $31.000 $155,000.00
- ---- 12/27/96 17,500 $27.375 $479,062.50
12/31/96 8,000 $26.000 $208,000.00
SUBTOTAL 562,500 $5.224 $2,938,566.64
======== ======= ====== =============
Associated Capital 09/06/96 5,000 $135,300.00
- ------------------ 09/09/96 -5,000 ($158,444.70)
Offshore, L.P. 09/09/96 5,000 $154,050.00
- -------------- 09/13/96 2,500 $78,275.00
09/24/96 -5,000 ($171,569.27)
09/25/96 -2,500 ($90,784.46)
09/27/96 5,000 $171,862.50
11/15/96 5,000 $149,050.00
12/12/96 5,000 $134,675.00
12/17/96 1,000 $26,247.50
12/19/96 1,500 $40,777.50
12/27/96 -5,000 ($135,945.46)
12/27/96 -5,000 ($135,945.46)
12/27/96 -5,000 ($135,945.46)
12/27/96 -1,000 ($27,189.09)
12/27/96 -1,500 ($40,783.63)
03/05/97 15,000 $345,138.00
03/11/97 3,000 $63,930.00
SUBTOTAL 18,000
======== ======
Justin Zises 01/09/97 -1,000 $27.125 ($27,125.00)
- ------------ 01/09/97 -1,000 $27.000 ($27,000.00)
01/10/97 -1,000 $27.500 ($27,500.00)
01/13/97 -1,000 $27.500 ($27,500.00)
01/14/97 -1,000 $28.125 ($28,125.00)
SUBTOTAL $18,391 $3.322 $61,099.00
======== ======= ====== ==========
Lara Zises 1/07/97 -1,000 $26.875 ($26,875.00)
- ---------- 01/07/97 -1,000 $26.750 ($26,750.00)
01/07/97 -1,000 $27.000 ($27,000.00)
01/08/97 -1,000 $27.125 ($27,125.00)
01/08/97 -1,000 $27.000 ($27,000.00)
SUBTOTAL 18,391 $3.458 $30,700.50
======== ====== ====== ==========
Page 12
<PAGE>
Samantha Zises
- --------------- 01/09/97 -1,000 $27.125 ($27,125.00)
01/09/97 -1,000 $27.000 ($27,000.00)
01/10/97 -1,000 $27.500 ($27,500.00)
01/13/97 -1,000 $27.500 ($27,500.00)
01/14/97 -1,000 $28.125 ($28,125.00)
SUBTOTAL 18,391 $3.322 $61,099.00
======== ====== ====== ==========
Selig Zises
- ----------- 07/16/96 97,000 $22.760 $2,207,720.00
07/16/96 5,000 $22.485 $112,425.00
07/16/96 5,000 $26.000 $130,000.00
07/16/96 5,000 $26.500 $132,500.00
07/19/96 4,100 $29.625 $121,462.50
07/19/96 900 $29.500 $26,550.00
07/19/96 2,500 $22.760 $56,900.00
07/19/96 11,000 $26.375 $290,125.00
08/14/96 1,000 $25.375 $25,375.00
08/14/96 1,000 $25.500 $25,500.00
08/14/96 500 $25.750 $12,875.00
08/19/96 1,000 $25.625 $25,625.00
08/19/96 9,000 $25.500 $229,500.00
10/09/96 10,000 $36.826 $368,261.00
10/09/96 -300 $34.750 ($10,425.00)
10/09/96 -400 $34.875 ($13,950.00)
10/09/96 -2,300 $35.000 ($80,500.00)
10/09/96 -2,000 $34.875 ($69,750.00)
10/10/96 -5,000 $35.918 ($179,587.50)
10/10/96 -1,000 $35.000 ($35,000.00)
10/10/96 -500 $34.875 ($17,437.50)
10/10/96 -1,500 $35.000 ($52,500.00)
10/10/96 -1,000 $34.750 ($34,750.00)
10/10/96 -1,000 $34.875 ($34,875.00)
10/11/96 -5,000 $35.000 ($175,000.00)
10/11/96 -3,100 $34.375 ($106,562.50)
10/11/96 -1,100 $34.500 ($37,950.00)
10/11/96 -3,900 $34.625 ($135,037.50)
10/11/96 -1,900 $34.750 ($66,025.00)
10/11/96 -500 $35.375 ($17,687.50)
10/11/96 -1,500 $35.250 ($52,875.00)
10/11/96 -2,000 $35.000 (70,000.00)
10/11/96 -1,000 $35.125 ($35,125.00)
10/11/96 -1,500 $35.625 ($53,437.50)
10/11/96 -3,500 $35.500 ($124,250.00)
10/14/96 -1,900 $35.750 ($67,925.00)
10/14/96 -1,300 $35.500 ($46,150.00)
10/14/96 -4,800 $35.625 ($171,000.00)
10/14/96 -2,000 $35.875 ($71,750.00)
10/17/96 -800 $35.500 ($28,000.00)
10/17/96 -1,700 $35.500 ($60,350.00)
10/23/96 -500 $35.625 ($17,812.50)
Page 13
<PAGE>
10/23/96 -3,900 $35.750 ($139,425.00)
10/23/96 -600 $35.875 ($21,525.00)
10/25/96 -2,000 $34.625 ($69,250.00)
10/25/96 -500 $34.750 ($17,375.00)
10/25/96 -2,500 $35.500 ($88,750.00)
10/25/96 -1,800 $34.875 ($62,775.00)
10/25/96 -1,000 $35.000 ($35,000.00)
10/25/96 -700 $34.875 ($24,412.50)
10/28/96 -1,000 $32.625 ($32,625.00)
10/28/96 -1,000 $32.125 ($32,125.00)
10/28/96 -1,000 $32.875 ($32,875.00)
10/29/96 -500 $33.250 ($16,625.00)
10/29/96 -500 $33.000 ($16,500.00)
10/29/96 -1,000 $33.500 ($33,500.00)
10/29/96 -1,000 $34.875 ($34,875.00)
10/29/96 -1,000 $34.750 ($34,750.00)
10/30/96 -2,000 $35.000 ($70,000.00)
10/30/96 -2,500 $34.875 ($87,187.50)
10/30/96 -2,000 $34.625 ($69,250.00)
10/30/96 -500 $34.750 ($17,375.00)
10/30/96 -2,500 $35.000 ($87,500.00)
10/30/96 -2,000 $35.000 ($70,000.00)
10/30/96 -2,500 $35.250 ($88,125.00)
10/31/96 -500 $35.125 ($17,562.50)
10/31/96 -2,500 $35.250 ($88,125.00)
11/15/96 1,000 $31.250 $31,250.00
11/22/96 3,500 $30.500 $106,750.00
11/22/96 1,500 $30.375 $45,562.50
11/25/96 5,000 $30.000 $150,000.00
12/12/96 5,000 $27.750 $138,750.00
01/23/97 -5,000 $28.875 ($144,375.00)
01/23/97 -5,000 $26.750 ($133,750.00)
03/05/97 4,200 $22.750 $95,550.00
03/05/97 5,000 $22.625 $113,125.00
03/17/97 4,000 $22.125 $88,500.00
03/17/97 1,000 $22.000 $22,000.00
03/18/97 4,500 $22.250 $100,125.00
03/20/97 20,000 $22.250 $445,000.00
03/20/97 5,000 $22.250 $111,250.00
03/20/97 6,000 $23.000 $138,000.00
SUBTOTAL 315,436 $6.815 $2,149,651.25
======== ======= ====== =============
500 BVF CALLS 06/27/96 50,000 $11.2500 $5,625.00
50 BVF CALLS 07/02/96 -5,000 $13.9250 $696.25
25 BVF CALLS 07/03/96 -2,500 $12.5000 $312.50
25 BVF CALLS 07/09/96 -2,500 $12.1250 $303.13
150 BVF CALLS 07/11/96 -15,000 $9.9373 $1,490.60
250 BVF CALLS 07/12/96 -25,000 $9.0625 $2,275.00
100 BVF CALLS 07/15/96 -10,000 $7.2500 $725.00
600 BVF CALLS 07/16/96 -60,000 $6.5000 $3,900.00
50 BVF CALLS 08/29/96 5,000 $7.8750 $393.75
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50 BVF CALLS 09/30/96 -5,000 $13.8750 $693.75
100 BVF CALLS 10/31/96 10,000 $6.0000 $600.00
100 BVF CALLS 10/31/96 10,000 $11.4875 $1,148.75
50 BVF CALLS 11/05/96 -5,000 $5.3750 $268.75
50 BVF CALLS 11/06/96 -5,000 $9.0000 $450.00
50 BVF CALLS 11/06/96 -5,000 $4.8750 $243.75
50 BVF CALLS 11/05/96 -5,000 $10.1250 $506.25
40 BVF CALLS 12/02/96 4,000 $8.5000 $340.00
10 BVF CALLS 12/03/96 1,000 $8.3750 $83.75
40 BVF CALLS 12/03/96 5,000 $8.5000 $340.00
10 BVF CALLS 12/03/96 1,000 $8.5000 $85.00
10 BVF CALLS 12/04/96 1,000 $7.1250 $71.25
50 BVF CALLS 12/04/96 5,000 $7.0000 $350.00
90 BVF CALLS 12/04/96 9,000 $7.2500 $652.50
10 BVF CALLS 12/09/96 1,000 $8.5000 $85.00
90 BVF CALLS 12/09/96 9,000 $8.6250 $776.25
100 BVF CALLS 12/12/96 10,000 $6.7500 $675.00
40 BVF CALLS 01/07/97 -4,000 $7.0000 $280.00
10 BVF CALLS 01/07/97 -1,000 $7.1250 $71.25
50 BVF CALLS 01/08/97 -5,000 $6.8750 $343.75
50 BVF CALLS 01/08/97 -5,000 $6.3750 $318.75
50 BVF CALLS 01/14/97 -5,000 $7.8750 $38,969.68
100 BVF CALLS 01/16/97 10,000 $8.0000 $80,804.00
25 BVF CALLS 01/21/97 2,500 $6.3750 $16,141.50
50 BVF CALLS 01/21/97 5,000 $5.1250 $26,029.00
150 BVF CALLS 02/19/97 15,000 $5.6250 $85,575.00
150 BVF CALLS 02/19/97 -15,000 $3.8750 $56,923.00
50 BVF CALLS 03/05/97 5,000 $4.1250 $21,025.00
10 BVF CALLS 03/11/97 1,000 $4.2500 $4,330.00
30 BVF CALLS 03/11/97 3,000 $4.3750 $13,365.00
100 BVF CALLS 03/11/97 10,000 $5.1250 $52,050.00
60 BVF CALLS 03/17/97 6,000 $4.5000 $27,480.00
20 BVF CALLS 03/17/97 2,000 $4.8750 $9,910.00
100BVF CALLS 03/18/97 10,000 $4.8750 $487.50
20 BVF CALLS 03/18/97 2,000 $4.8750 $97.50
SUBTOTAL 101,500
======= =======
Lynn Zises
- ---------- 07/01/96 -50,000 $29.250 ($1,462,500.00)
07/18/96 2,500 $29.750 $74,375.00
07/18/96 1,300 $29.875 $38,837.50
07/18/96 1,200 $29.625 $35,550.00
07/19/96 2,500 $29.375 $73,437.50
07/25/96 5,000 $26.875 $134,375.00
07/24/96 4,000 $30.000 $120,000.00
07/25/96 4,100 $29.750 $121,975.00
07/25/96 1,900 $29.875 $56,762.50
07/30/96 2,500 $27.750 $69,375.00
08/19/96 5,000 $25.250 $126,250.00
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08/21/96 2,000 $25.750 $51,500.00
03/20/97 15,000 $22.250 $333,750.00
03/20/97 5,000 $22.950 $114,750.00
SUBTOTAL 147,929 $5.802 $858.251.00
======== ======= ======= ===========
500 BVF CALLS 06/27/96 50,000 11.2500 $5,625.0
- -500 BVF CALLS 07/15/96 -50,000 6.7500 $3,375.00
- -550 BVF CALLS 07/16/96 -55,000 6.5000 $3,575.00
100 BVF CALLS 09/03/96 10,000 11.8750 $1,187.50
10 BVF CALLS 11/18/96 1,000 10.3750 $103.75
10 BVF CALLS 11/18/96 1,000 10.7500 $107.50
230 BVF CALLS 11/18/96 23,000 10.7500 $2,472.50
100 BVF CALLS 11/21/96 10,000 7.1250 $712.50
50 BVF CALLS 11/25/96 5,000 10.8750 $543.75
10 BVF CALLS 11/26/96 1,000 11.3750 $113.75
90 BVF CALLS 11/26/96 9,000 11.5000 $1,035.00
100 BVF CALLS 11/22/96 10,000 7.1250 $712.50
- -100 BVF CALLS 11/29/96 -10,000 9.1250 $90,446.95
- -10 BVF CALLS 11/29/96 -1,000 8.5000 $8,419.71
- -90 BVF CALLS 11/29/96 -9,000 8.8750 $79,152.33
- -100 BVF CALLS 11/29/96 -10,000 9.0000 $89,197.00
- -10 BVF CALLS 01/14/97 -1,000 7.8750 $7,794.73
- -40 BVF CALLS 01/14/97 -4,000 7.7500 $30,674.96
100 BVF CALLS 01/14/97 10,000 7.7500 $78,304.00
10 BVF CALLS 01/17/97 1,000 5.8700 $5,959.00
250 BVF CALLS 01/17/97 25,000 6.6875 $169,187.50
- -250 BVF CALLS 01/17/97 -25,000 8.2500 $204,243.12
250 BVF CALLS 02/19/97 25,000 5.6250 $142,625.00
- -250 BVF CALLS 02/19/97 -25,000 3.8750 $94,871.77
SUBTOTAL 46,000
======= ======
Jay Zises
- --------- 06/24/96 6,000 $20.375 $182,250.00
06/24/96 7,000 $30.875 $216,125.00
06/25/96 2,000 $29.875 $59,750.00
06/25/96 3,000 $30.250 $90,750.00
06/25/96 12,000 $29.500 $354,000.00
03/11/97 1,000 $21.750 $21,750.00
03/11/97 2,000 $21.500 $43,000.00
SUBTOTAL 350,486 $9.214 $3,229,278.00
======= ======= ====== =============
Current Total: 1,732,536
=========
% Ownership 6.84%
=====
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