UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(RULE 13D-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULES 13D-1(B) AND (C) AND
AMENDMENTS THERETO FILED PURSUANT TO 13D-2(B)
(AMENDMENT NO. 1)
EDUCATION MANAGEMENT
CORPORATION
(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE
(Title of Class of Securities)
28139T 10 1
(CUSIP Number)
Page 1 of 4 Pages
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SCHEDULE 13G
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CUSIP NO. 28139T 10 1 PAGE 2 OF 4 PAGES
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSONS (ENTITIES ONLY) Robert B. Knutson
-----------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER
OF A GROUP* (a) / /
(b) / /
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION United States
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NUMBER OF 5 SOLE VOTING POWER 1,752,650
SHARES ---------
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER 0
EACH -
REPORTING
PERSON 7 SOLE DISPOSITIVE POWER 1,752,650
WITH ---------
8 SHARED DISPOSITIVE POWER 0
-
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 1,752,650
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN
ROW (9) EXCLUDES CERTAIN SHARES
See Item 4(a) /X/
11 PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (9) 12.1%
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12 TYPE OF REPORTING PERSON* IN
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Page 2 of 4 Pages
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This Amendment No. 1 to Schedule 13G ("Amendment No. 1") relates to the
Common Stock, $.01 par value (the "Common Stock"), of Education Management
Corporation, a Pennsylvania corporation (the "Issuer"). This Amendment No. 1
amends and restates in its entirety the response to Item 4 of the filing
person's Schedule 13G dated February 14, 1997 (the "Initial Schedule 13G"). No
other responses to Items of the Initial Schedule 13G are being amended at this
time.
Item 4. Ownership.
(a) Mr. Knutson is the indirect beneficial owner, as trustee and the
sole beneficiary under the Revocable Trust Agreement of Robert B.
Knutson dated March 4, 1993, of 1,737,650 shares of Common Stock and
the direct beneficial owner of 15,000 shares of Common Stock
issuable upon exercise of employee stock options. Mr. Knutson may
also be deemed to be the beneficial owner of the shares of Common
Stock beneficially owned by his spouse, Miryam L. Drucker. Mr.
Knutson disclaims beneficial ownership of those shares.
(b) The 1,752,650 shares beneficially owned by Mr. Knutson are 12.1% of
the outstanding Common Stock, based upon the 14,444,218 shares
outstanding at December 31, 1997.
(c) Mr. Knutson has sole voting and dispositive power with respect to
the 1,752,650 shares beneficially owned by him.
Page 3 of 4 Pages
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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.
Date: February 1, 1998
/S/ ROBERT B. KNUTSON
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Robert B. Knutson
Page 4 of 4 Pages