SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
FRANKLIN COVEY CO.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.05 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
353469109
-----------------------------------------------------
(CUSIP Number)
December 31, 1999
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* 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).
(Continued on following page(s))
Page 1 of 7 Pages
<PAGE>
- -------------------------
CUSIP No. 353469109
- -------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Donald A. Yacktman
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a)[ ]
(b)[X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
190,464
SHARES --------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
34,057(1)
OWNED BY --------------------------------------------------------
7 SOLE DISPOSITIVE POWER
EACH
190,464
REPORTING --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
PERSON
2,066,659(1)
WITH
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,257,123(2)
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11.1%(2)
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
================================================================================
(1) Represents shares beneficially owned by Yacktman Asset Management Co.; the
undersigned holds 100% of the outstanding shares of capital stock of
Yacktman Asset Management Co.
(2) Represents 225,078 shares of Common Stock issuable upon conversion of
Preferred Stock and 2,032,045 shares of Common Stock (with the percent
ownership calculated using the number of outstanding shares of Common Stock
reported in the Company's Form 10-Q for the quarter ended November 27,
1999, and assuming the conversion of the Preferred Stock owned by the
reporting person).
Page 2 of 7 Pages
<PAGE>
- -------------------------
CUSIP No. 353469109
- -------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
The Yacktman Funds, Inc. - 36-3831621
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a)[ ]
(b)[X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
1,077,971
SHARES --------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY --------------------------------------------------------
7 SOLE DISPOSITIVE POWER
EACH
-0-
REPORTING --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
PERSON
-0-
WITH
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,077,971(1)
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.3%(1)
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IV
================================================================================
(1) Represents 16,071 shares of Common Stock issuable upon conversion of
Preferred Stock and 1,061,900 shares of Common Stock (with the percent
ownership calculated using the number of outstanding shares of Common
Stock reported in the Company's Form 10-Q for the quarter ended November
27, 1999, and assuming the conversion of the Preferred Stock owned by the
reporting person).
Page 3 of 7 Pages
<PAGE>
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CUSIP No. 353469109
- -------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Yacktman Asset Management Co. - 36-3780592
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a)[ ]
(b)[X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
34,057
SHARES --------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY --------------------------------------------------------
7 SOLE DISPOSITIVE POWER
EACH
2,066,659
REPORTING --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
PERSON
-0-
WITH
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,066,659(1)
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.1%(1)
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA
================================================================================
(1) Represents 198,414 shares of Common Stock issuable upon conversion of
Preferred Stock and 1,868,245 shares of Common Stock (with the percent
ownership calculated using the number of outstanding shares of Common
Stock reported in the Company's Form 10-Q for the quarter ended November
27, 1999, and assuming the conversion of the Preferred Stock owned by the
reporting person).
Page 4 of 7 Pages
<PAGE>
- -------------------------
CUSIP No. 353469109
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This Amendment No. 2 to the undersigned's Schedule 13G, which was
originally filed on February 5, 1998 (the "Schedule 13G") with regard to
Franklin Covey Co. (the "Issuer") is being filed to amend Item 4 of the Schedule
13G. Except as expressly stated herein, there have been no material changes in
the information set forth in the Schedule 13G.
Item 4. Ownership:
- ------ ---------
Donald A. Yacktman
------------------
(a) Amount Beneficially Owned: 2,257,123
(b) Percent of Class: 11.1%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 190,464
(ii) shared power to vote or to direct the vote: 34,057
(iii)sole power to dispose or to direct the disposition of:
190,464
(iv) shared power to dispose or to direct the disposition of:
2,066,659
The Yacktman Funds, Inc.
-----------------------
(a) Amount Beneficially Owned: 1,077,971
(b) Percent of Class: 5.3%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 1,077,971
(ii) shared power to vote or to direct the vote: -0-
(iii) sole power to dispose or to direct the disposition of: -0-
(iv) shared power to dispose or to direct the disposition of: -0-
Yacktman Asset Management Co.
----------------------------
(a) Amount Beneficially Owned: 2,066,659
(b) Percent of Class: 10.1%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 34,057
(ii) shared power to vote or to direct the vote: -0-
(iii)sole power to dispose or to direct the disposition of:
2,066,659
(iv) shared power to dispose or to direct the disposition of: -0-
Page 5 of 7 Pages
<PAGE>
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CUSIP No. 353469109
- -------------------------
Exhibits.
--------
1. Agreement to file Schedule 13G jointly.
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.
February 11, 2000
- -------------------
Date
/s/ Donald A. Yacktman
- ----------------------------------
Donald A. Yacktman
THE YACKTMAN FUNDS, INC.
By: /s/ Donald A. Yacktman
- ----------------------------------
Donald A. Yacktman
President
YACKTMAN ASSET MANAGEMENT CO.
By: /s/ Donald A. Yacktman
- ----------------------------------
Donald A. Yacktman
President
Page 6 of 7 Pages
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CUSIP No. 353469109
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EXHIBIT 1
---------
AGREEMENT dated as of February 11, 2000, by and among Donald A.
Yacktman ("Yacktman"), Yacktman Asset Management Co., an Illinois corporation
("Yacktman Asset Management") and The Yacktman Funds, inc., a Maryland
corporation (the "Yacktman Funds").
WHEREAS, in accordance with Rule 13d-1(k) of the Securities Exchange
Act of 1934 (the "Act"), only one such statement need be filed whenever two or
more persons are required to file a statement pursuant to Section 13(d) of the
Act with respect to the same securities, provided that said persons agree in
writing that such statement is filed on behalf of each of them.
NOW, THEREFORE, in consideration of the premises and mutual agreements
herein contained, the parties hereto agree as follows:
Each of Yacktman, Yacktman Asset Management and The Yacktman Funds
hereby agree, in accordance with Rule 13d-1(k) under the Act, to file one
Statement on Schedule 13G relating to their ownership of the Common Stock of
Franklin Covey Co. and hereby further agree that said Statement shall be filed
on behalf of each of Yacktman, Yacktman Asset Management and The Yacktman Funds.
Nothing herein shall be deemed to be an admission that the parties hereto, or
any of them are members of a "group" (within the meaning of Section 13(d) of the
Act and the rules promulgated thereunder) with respect to any securities of
Franklin Covey Co.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first written above.
/s/ Donald A. Yacktman
------------------------------------
Donald A. Yacktman
THE YACKTMAN FUNDS, INC.
By: /s/ Donald A. Yacktman
------------------------------------
Donald A. Yacktman
President
YACKTMAN ASSET MANAGEMENT CO.
By: /s/ Donald A. Yacktman
------------------------------------
Donald A. Yacktman
President
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