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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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)
SALTON/MAXIM HOUSEWARES, INC.
(Name of Issuer)
Common Stock, par value
$.01 per share
(Title of Class of Securities)
795757103
(CUSIP Number)
Allen R. Hart
2501 Marlboro Road
Cleveland Heights, Ohio 44118
(216) 321-6656
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 28, 1998
(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
[ ].
(Continued on following pages)
(Page 1 of 5 Pages)
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<S> <C> <C> <C>
CUSIP NO. 795757103 13D PAGE 2 OF 5 PAGES
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1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Allen R. Hart
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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
OO
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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
USA
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NUMBER OF 7 SOLE VOTING POWER
SHARES 350,000
BENEFICIALLY --------- ----------------------------------------------------
OWNED BY
EACH 8 SHARED VOTING POWER
REPORTING 117,034
PERSON WITH --------- ----------------------------------------------------
9 SOLE DISPOSITIVE POWER
350,000
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10 SHARED DISPOSITIVE POWER
117,034
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
467,034
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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)
5.3%
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14 TYPE OF REPORTING PERSON
IN
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SCHEDULE 13D
SALTON/MAXIM HOUSEWARES, INC.
This Statement on Schedule 13D (this "Statement") is filed by Allen R.
Hart.
ITEM 1. SECURITY AND ISSUER.
This Statement relates to shares of common stock, par
value $.01 per share ("Common Stock"), of Salton/Maxim
Housewares, Inc. (the "Company"). The address of the principal
executive offices of the Company is 550 Business Center Drive,
Mount Prospect, Illinois 60056.
ITEM 2. IDENTITY AND BACKGROUND.
(a) This Statement is being filed by Allen R. Hart.
(b), (c) and (f) Mr. Hart is self-employed in the
business of investing and managing his investments. His
business address is 2501 Marlboro Road, Cleveland Heights,
Ohio 44118. Mr. Hart is a citizen of the United States of
America.
(d) and (e) During the past five years, Mr. Hart has
not been convicted in any criminal proceeding (excluding
traffic violations or similar misdemeanors) or been a party to
a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was
not or is not subject to 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.
On July 28, 1998, the Company repurchased the
6,535,072 shares of Common Stock (the "Repurchase") owned by
Windmere-Durable Holdings, Inc. ("Windmere") pursuant to a
certain Stock Agreement dated as of May 6, 1998 by and among
the Company, Windmere and the Salton Executive Related Parties
(as defined therein). The repurchase price was $12 per share
in cash plus a $15 million subordinated promissory note. In
connection with the Repurchase, the Company repurchased
Windmere's option to purchase up to 458,500 shares of Common
Stock for approximately $3.3 million. This information is
based on the Company's Current Report on Form 8-K filed with
the Securities and Exchange Commission on July 30, 1998.
Mr. Hart did not acquire any shares of Common Stock
in, or as a result of, the Repurchase. However, since the
Repurchase decreased the number of issued and outstanding
shares of Common Stock, Mr. Hart's ownership of Common Stock
now
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exceeds 5% of the issued and outstanding shares of Common Stock. Mr.
Hart was advised on August 12, 1998 by the Company's counsel of the
number of outstanding shares of Common Stock, and therefore his
obligation to file this Schedule 13D.
ITEM 4. PURPOSE OF TRANSACTION.
Mr. Hart has held a beneficial interest in shares of
Common Stock since March 1, 1996. Mr. Hart holds his shares of
Common Stock for investment purposes.
Mr. Hart has no present plans or proposals which relate
to or would result in any of the actions or events described in
paragraphs (a) through (j) of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) Allen R. Hart is the beneficial owner of 467,034
shares (5.3% of the outstanding shares) of Common Stock. The number
of shares of Common Stock beneficially owned by Mr. Hart and the
percentage of outstanding shares of Common Stock represented thereby
have been computed in accordance with Rule 13d-3 under the
Securities Exchange Act of 1934, as amended. There were 8,881,727
shares of Common Stock outstanding at August 11, 1998, as reported
by the Company's counsel to Mr. Hart on August 12, 1998.
(b) Mr. Hart has the sole power to (i) vote or direct
the voting of, and (ii) dispose or direct the disposition of 350,000
shares of Common Stock beneficially owned by him. Mr. Hart shares
the power to (i) vote or direct the voting of, and (ii) dispose or
direct the disposition of (a) 50,534 shares of Common Stock with his
brother, Gary Hart, (b) 50,000 shares of Common Stock with his
mother, Lillian Hart and (c) 16,500 shares of Common Stock with his
wife, Mellissa Hart.
Gary Hart is self-employed in the business of investing
and managing his investments. His business address is 2374 Euclid
Heights Blvd., Apt. 308, Cleveland Heights, Ohio 44106. He is a
citizen of the United States of America. Lillian Hart is a
housewife. Her address is 27060 Cedar Road, Apt. 209, Beachwood,
Ohio 44121. She is a citizen of the United States of America.
Mellissa Hart is a housewife. Her address is 2501 Marlboro Road,
Cleveland Heights, Ohio 44118. She is a citizen of the United States
of America.
During the past five years, none of Gary Hart, Lillian
Hart or Mellissa Hart has been convicted in any criminal proceeding
(excluding traffic violations or similar misdemeanors) or been a
party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was or is
subject to 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.
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(c) The transactions with respect to shares of Common
Stock effected by Mr. Allen Hart in the past 60 days are set forth
below. All such transactions were open market purchases.
<TABLE>
<CAPTION>
Date Shares Purchased Price Per Share
---- ---------------- ---------------
<S> <C> <C> <C>
June 26, 1998 5,000 13 5/8
June 29, 1998 7,500 13 3/4
2,500 13 13/16
July 1, 1998 3,800 14
July 7, 1998 2,842 14 3/4
July 8, 1998 182 14 15/16
</TABLE>
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
Allen R. Hart is a party to a power of attorney with
respect to the 117,034 shares of Common Stock that he shares voting
and dispositive power with Gary Hart, Lillian Hart and Mellissa
Hart.
ITEM 7. EXHIBITS.
None.
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.
Dated: August 12, 1998 /s/ ALLEN R. HART
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ALLEN R. HART
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