SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
June 24, 1996
(Date of earliest event reported)
UDC HOMES, INC.
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(Exact name of Registrant as specified in its charter)
Delaware 1-11416 86-0702254
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(State of (Commission File No.) (IRS Employer
Incorporation Identification No.)
4812 South Mill Avenue, Tempe, Arizona 85282
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(Address of principal executive offices, including zip code)
(602) 820-4488
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(Registrant's telephone number, including area code)
None
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(Former name or former address, if changed since last report)
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Item 5. Other Events
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1. On June 24, 1996, UDC Homes, Inc. issued a press release regarding
the resignation of its current executive vice president/chief financial officer,
the appointment of a new senior executive vice president/chief financial officer
and the appointment of a new senior executive vice president. A copy of the
press release is attached hereto and incorporated by reference.
2
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Item 7. Financial Statements and Exhibits
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(c) Exhibits
Exhibit No. Description
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99.1 Press Release issued June 24, 1996.
3
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
UDC Homes, Inc.
By: /s/ Jacques C. Lazard
Name: Jacques C. Lazard
Title: Executive Vice President
and Chief Financial Officer
Dated: June 24, 1996
4
Exhibit 99.1
[UDC Homes, Inc. letterhead]
FOR IMMEDIATE RELEASE
Contact: Garth Wieger
(602) 820-4488
TEMPE, AZ (Monday, June 24, 1996) In an announcement made today by
Garth Wieger, President and Chief Executive Officer of UDC Homes, Inc., it was
disclosed that Kenda B. Gonzales will be joining UDC Homes as Senior Executive
Vice President and Chief Financial Officer, and Jim Grogan will be joining UDC
Homes as Senior Executive Vice President. Jack Lazard, the company's Executive
Vice President and Chief Financial Officer will be leaving UDC Homes. Lazard has
agreed to continue in an advisory capacity to help insure an orderly transition
as Gonzales assumes her new role at UDC Homes.
Kenda Gonzales has served as Chief Financial Officer of Continental
Homes Holding Corp. for the past eleven years. Her many years in the
homebuilding industry will benefit UDC as it implements its plan for the future.
Jim Grogan has been the Managing Attorney for the Arizona law firm of Gallagher
& Kennedy for the past several years, during which the firm has experienced
unprecedented growth and profitability. His successful management achievements,
experience as a highly respected management labor lawyer, and his leadership
role in a wide variety of community and civic activities, will all be valuable
assets for UDC Homes.
Regarding Lazard, Wieger said that "Jack was instrumental in developing
and implementing a successful financial restructuring plan which culminated in
the recent acquisition of UDC by affiliates of DMB Property Ventures Limited
Partnership and Aldrich Eastman Waltch. Jack has offered his support and
encouragement while he looks for the next great challenge that is needed to use
his talents and unending energy and intellect."
-more-
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Lazard added, "Kenda brings to UDC the detailed financial accounting
and reporting homebuilder skills that Garth needs as UDC continues to
consolidate its Corporate organization while providing the necessary support to
its operating divisions. I also want to thank Drew Brown and Joe Azrack, DMB and
AEW'S Chief Executive Officers, as well as Garth and all the employees and
lenders who have been tremendously supportive of me during my tenure at UDC. I'm
proud to leave UDC in such good hands."
UDC Homes, Inc. is a homebuilder headquartered in Tempe, Arizona,
concentrating in move-up family and retirement housing with operations in
Arizona and California. UDC Homes will close approximately 2,000 homes this
fiscal year ending September 30, 1996.
