SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 10)
HARRIS & HARRIS GROUP, INC.
- -------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, par value $ .01 per share
- -------------------------------------------------------------------------
(Title of Class of Securities)
413833104
- -------------------------------------------------------------------------
(CUSIP Number)
Charles E. Harris
Harris & Harris Group, Inc.
One Rockefeller Plaza, Suite 1430
New York, New York 10020
(212) 332-3600
- -------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 7, 1999
- -------------------------------------------------------------------------
(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. / /
Documents Incorporated by Reference: Schedule 13D dated April 13, 1984, as
amended by Amendment No. 1 dated January 3, 1986, Amendment No. 2 dated
January 10, 1986, Amendment No. 3 dated March 31, 1986, Amendment No. 4 dated
May 9, 1986, Amendment No. 5 dated December 19, 1991, Amendment No. 6 dated
November 17, 1993, Amendment No. 7 dated December 23, 1993, Amendment No. 8
filed October 12, 1997, and Amendment No. 9 dated December 31, 1997 (the
"Original 13D").
Page 1 of 7 Pages
- ---------------------------------------------------------------------------
CUSIP NO. - 413833104
- ---------------------------------------------------------------------------
(1) Name of reporting person . . . . . . . . . . . . .Charles E. Harris
S.S. or IRS No. of above person . . . . . . . . . .###-##-####
- ---------------------------------------------------------------------------
(2) Check the appropriate box if a member of a group. . (a) [ ]
. . . . . . . . . . . . . . . . . . . . (b) [ ]
- ---------------------------------------------------------------------------
(3) SEC use only . . . . . . . . . . . . . . . . . . .
- ---------------------------------------------------------------------------
(4) Source of funds . . . . . . . . . . . . . . . . . .
- ---------------------------------------------------------------------------
(5) Check if disclosure of legal proceedings
is required pursuant to Items 2(d) or 2(e). . . . . [ ]
- ---------------------------------------------------------------------------
(6) Citizenship or place of organization. . . . . . . . United States
- ---------------------------------------------------------------------------
Number of shares beneficially owned by each reporting person with:
(7) Sole voting power . . . . . . . . . . . . . . . . . 8,500
(8) Shared voting power . . . . . . . . . . . . . . . . 103,885 (1)
(9) Sole dispositive power. . . . . . . . . . . . . . . 8,500
(10) Shared dispositive power. . . . . . . . . . . . . . 103,885 (1)
- ---------------------------------------------------------------------------
(11) Aggregate amount beneficially
owned by each reporting person. . . . . . . . . . . 988,212 (1)
- ---------------------------------------------------------------------------
(12) Check if the aggregate amount in
Row (11) excludes certain shares. . . . . . . . . . X
- ---------------------------------------------------------------------------
(13) Percent of class represented
by amount in Row (11) . . . . . . . . . . . . . . . 10.69%
- ---------------------------------------------------------------------------
(14) Type of reporting person. . . . . . . . . . . . . . IND
- ---------------------------------------------------------------------------
(1) Includes 103,885 shares owned by the Susan T. and Charles E. Harris
Foundation in which Susan T. and Charles E. Harris are named trustees.
Voting and dispositive power are vested with the trustees.
Page 2 of 7
- ---------------------------------------------------------------------------
CUSIP NO. - 413833104
- ---------------------------------------------------------------------------
(1) Name of reporting person. . . . . . . . . . . . . . Susan T. Harris
S.S. or IRS No. of above person . . . . . . . . . . ###-##-####
- ---------------------------------------------------------------------------
(2) Check the appropriate box if a member of a group. . (a) [ ]
. . . . . . . . . . . . . . . . (b) [ ]
- ---------------------------------------------------------------------------
(3) SEC use only. . . . . . . . . . . . . . . . . . . .
- ---------------------------------------------------------------------------
(4) Source of funds . . . . . . . . . . . . . . . . . .
- ---------------------------------------------------------------------------
(5) Check if disclosure of legal proceedings
is required pursuant to Items 2(d) or 2(e). . . . . [ ]
- ---------------------------------------------------------------------------
(6) Citizenship or place of organization. . . . . . . . United States
- ---------------------------------------------------------------------------
Number of shares beneficially owned by each reporting person with:
(7) Sole voting power . . . . . . . . . . . . . . . . . 875,827
(8) Shared voting power . . . . . . . . . . . . . . . . 103,885 (1)
(9) Sole dispositive power. . . . . . . . . . . . . . . 875,827
(10) Shared dispositive power. . . . . . . . . . . . . . 103,885 (1)
- ---------------------------------------------------------------------------
(11) Aggregate amount beneficially
owned by each reporting person. . . . . . . . . . . 988,212 (1)
- ---------------------------------------------------------------------------
(12) Check if the aggregate amount in
Row (11) excludes certain shares. . . . . . . . . . X
- ---------------------------------------------------------------------------
(13) Percent of class represented
by amount in Row (11) . . . . . . . . . . . . . . . 10.69%
- ---------------------------------------------------------------------------
(14) Type of reporting person. . . . . . . . . . . . . . IND
- ---------------------------------------------------------------------------
(1) Includes 103,885 shares owned by the Susan T. and Charles E. Harris
Foundation in which Susan T. and Charles E. Harris are named trustees.
Voting and dispositive power are vested with the trustees.
Page 3 of 7
Item 1. Security and Issuer.
The class of equity securities to which this statement relates is the
common stock, par value $.01 per share, (the "Common Stock") of Harris &
Harris Group, Inc., a New York Corporation (the "Company"). The address of
the principal executive offices of the Company is One Rockefeller Plaza,
Suite 1430, Rockefeller Center, New York, New York 10020.
Item 2. Identity and Background.
(a) The reporting persons are Charles E. Harris (Mr. Harris) and Susan T.
Harris (Mrs. Harris).
(b) Mr. Harris's business address is Harris & Harris Group, Inc. One
Rockefeller Plaza, Suite 1430, New York, New York 10020. Mrs. Harris's
business address is Harris & Harris Enterprises, Inc., One Rockefeller Plaza,
Suite 1430, New York NY 10020.
(c) Mr. Harris is Chairman and Chief Executive Officer of the Company.
Mrs. Harris is a financial public relations consultant and is employed by
Harris & Harris Enterprises, Inc. a fully-owned subsidiary of Harris & Harris
Group, Inc.
(d) Neither of the reporting persons has during the last five years been
convicted in a criminal proceeding.
(e) Mr. Harris and Mrs. Harris have not been and are not subject to a
judgment, decree of final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities laws or
finding any violations with respect to such laws.
(f) Mr. Harris and Mrs. Harris are husband and wife and are citizens of
the United States of America.
Item 3. Sources and Amount of Funds of Other Consideration.
Not applicable
Item 4. Purpose of Transaction.
Mrs. Harris has recently disposed of 479,349 shares of the Common Stock
for the purposes of diversifying her investment holdings in connection with
recent appreciation of the stock of the Company in accordance with the
requirements of rule 144. Mrs. Harris does not intend to sell additional
shares in the next three months.
Item 5. Interest in Securities of the Issuer.
Mr. Charles E. Harris and Mrs. Susan T. Harris, are the beneficial owners
of 988,212 shares of common stock of Harris & Harris Group, Inc., (the "Common
Stock") including 103,885 shares owned by the Susan T. and Charles E. Harris
Foundation in which Susan T. and Charles E. Harris are named trustees (the
power to vote and dispose of the shares is vested with the trustees). Such
shares represent 10.69% of the outstanding class of the Common Stock.
Page 4 of 7
Mr. Harris has sole power to vote and dispose of 8,500 shares of Common
Stock. Mrs. Harris has sole power to vote and dispose of 875,827 shares of
Common Stock. Mr. and Mrs. Harris have shared power to vote and dispose of
the 103,885 shares held by the Susan T. and Charles E. Harris Foundation.
Mr. and Mrs. Harris make independent decisions with respect to the shares
beneficially owned or controlled by them individually and specifically
disclaim that they are members of a group.
Mr. Harris disclaims beneficial ownership of the 875,827 shares of Common
Stock over which Mrs. Harris has sole voting and dispositive power. Mrs.
Harris disclaims beneficial ownership of the 8,500 shares of Common Stock over
which Mr. Harris has sole voting and dispositive power.
Mrs. Harris sold the shares on the NASDAQ National Market exchange as
follows:
<TABLE>
<C> <C> <C>
Date Number of Shares Gross Sales Price Per Share
December 7, 1999 31,000 7.75
December 8, 1999 250,000 9.375
December 8, 1999 142,349 7.75
December 9, 1999 27,500 10.375
December 10, 1999 22,500 10.5625
December 10, 1999 6,000 11.75
</TABLE>
Item 6. Contracts, Arrangements, Understanding or Relationships
with Respect to Securities of the Issuer.
The Employment Agreement between Harris & Harris Group, Inc. and Charles
E. Harris, dated October 19, 1999, is hereby incorporated by reference from
the Company's Form 8-K as filed with the Securities & Exchange Commission
October 27, 1999.
Item 7. Material to be Filed as Exhibits.
None
Page 5 of 7
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: December 10, 1999
/s/ Charles E. Harris
---------------------
Charles E. Harris
Page 6 of 7
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: December 10, 1999
/s/ Susan T. Harris
-------------------
Susan T. Harris
7 of 7
Exhibit 1
The undersigned, Charles E. Harris and Susan T. Harris, hereby agree to
file jointly this 13D and all amendments, with respect to the common stock of
Harris & Harris Group, Inc., but disclaim that they are a group.
December 10, 1999
/s/ Charles E. Harris
---------------------
Charles E. Harris
/s/ Susan T. Harris
-------------------
Susan T. Harris
