UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)*
CHICO'S FAS, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
168615 10 2
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(CUSIP Number)
Gary I. Teblum, Esq.
Trenam, Kemker, Scharf, Barkin,
Frye, O'Neill & Mullis, P.A.
2700 Barnett Plaza
Tampa, Florida 33602
813-223-7474
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
JUNE 23, 2000 - JULY 5, 2000
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(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(e), 3d-1(f) or 13d-1(g), check the following box
[ ].
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
*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 in 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).
(Page 1 of 15 Pages)
<PAGE>
SCHEDULE 13D
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CUSIP NO. 168615 10 2 PAGE 2 OF 15 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RODIN, LTD.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS LIMITED PARTNERSHIP
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7 SOLE VOTING POWER
-0-
NUMBER OF -------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY EACH 2,021,488
REPORTING -------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-0-
-------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,021,488
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,021,488
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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)
11.59%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
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CUSIP NO. 168615 10 2 PAGE 3 OF 15 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
KLEE & CO., L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS LIMITED LIABILITY COMPANY
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7 SOLE VOTING POWER
-0-
NUMBER OF -------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY EACH 2,021,488
REPORTING -------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-0-
-------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,021,488
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,021,488
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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)
11.59%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
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CUSIP NO. 168615 10 2 PAGE 4 OF 15 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HELENE B. GRALNICK
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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7 SOLE VOTING POWER
106,667 (1)
NUMBER OF -------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY EACH 2,021,488
REPORTING -------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
106,667 (1)
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10 SHARED DISPOSITIVE POWER
2,021,488
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,128,155
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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)
12.13%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
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CUSIP NO. 168615 10 2 PAGE 5 OF 15 PAGES
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NOTES TO PRECEDING PAGE
(1) REPRESENTS OPTIONS TO PURCHASE SHARES OF COMMON STOCK GRANTED UNDER THE
COMPANY'S STOCK OPTION PLANS AND THAT ARE CURRENTLY EXERCISABLE.
<PAGE>
SCHEDULE 13D
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CUSIP NO. 168615 10 2 PAGE 6 OF 15 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MARVIN J. GRALNICK
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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7 SOLE VOTING POWER
330,000 (1)
NUMBER OF -------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY EACH 2,021,488
REPORTING -------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
330,000 (1)
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10 SHARED DISPOSITIVE POWER
2,021,488
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,351,488
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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)
13.24%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
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CUSIP NO. 168615 10 2 PAGE 7 OF 15 PAGES
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NOTES TO PRECEDING PAGE
(1) REPRESENTS OPTIONS TO PURCHASE SHARES OF COMMON STOCK GRANTED UNDER THE
COMPANY'S STOCK OPTION PLANS AND THAT ARE CURRENTLY EXERCISABLE.
<PAGE>
SCHEDULE 13D PAGE 8 OF 15 PAGES
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This Statement constitutes Amendment No. 3 to previously filed
Statements on Schedule 13D relating to the common stock, $.01 par value per
share (the "Common Stock"), of Chico's FAS, Inc., a Florida corporation (the
"Issuer"), as follows:
1. Schedule 13D filed on January 7, 1994 by Gralnick Industries
Limited Partnership, a Nevada limited partnership ("Gralnick
Industries"), the Helene B. Gralnick Trust Agreement (the
"Helene B. Gralnick Trust") and Helene B. Gralnick,
individually (the "Helene Gralnick Initial Statement").
2. Schedule 13D filed on January 7, 1994 by Gralnick Enterprises
Limited Partnership, a Nevada limited partnership ("Gralnick
Enterprises"), the Marvin J. Gralnick Trust Agreement (the
"Marvin J. Gralnick Trust") and Marvin J. Gralnick,
individually (the "Marvin Gralnick Initial Statement").
3. Amendment No. 1 to Schedule 13D filed on November 10, 1994 by
Gralnick Industries, Helene B. Gralnick Trust, Helene B.
Gralnick, individually and as trustee, Gralnick Enterprises,
Marvin J. Gralnick Trust, and Marvin J. Gralnick, individually
and as trustee ("Amendment No. 1").
4. Amendment No. 2 to Schedule 13D filed on November 17, 1998 by
Rodin, Ltd., a Texas limited partnership ("Rodin"), Klee &
Co., L.L.C., a Texas limited liability company ("Klee"),
Helene B. Gralnick Trust, Helene B. Gralnick, individually and
as trustee, Marvin J. Gralnick Trust, and Marvin J. Gralnick,
individually and as trustee, Captiva, Ltd., a Texas limited
partnership ("Captiva"), and Sartre Partners, Ltd, a Texas
limited partnership ("Amendment No. 2").
In December 1998, June 1999, and December 1999, Rodin sold an aggregate
of 244,384 shares of the Common Stock in transactions effectuated through a
broker, as follows:
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DATE OF TRANSACTION NUMBER OF SHARES SOLD (1) PRICE PER SHARE (1)
------------------- ------------------------- -------------------
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December 4, 1998 25,000 $24.000
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December 4, 1998 8,000 $23.000
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December 7, 1998 14,000 $23.000
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December 8, 1998 3,000 $23.000
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December 8, 1998 25,000 $23.500
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December 9, 1998 10,000 $23.500
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December 10, 1998 15,000 $23.500
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December 11,1998 5,000 $23.250
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<PAGE>
SCHEDULE 13D PAGE 9 OF 15 PAGES
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December 11, 1998 25,000 $23.3125
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December 14, 1998 20,000 $22.875
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June 9, 1999 2,000 $26.250
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June 9, 1999 4,384 $27.000
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June 11, 1999 10,000 $25.875
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June 14, 1999 5,000 $25.062
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June 14, 1999 10,000 $25.000
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June 14, 1999 10,000 $25.125
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June 15, 1999 1,000 $25.000
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June 15, 1999 2,000 $25.187
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December 2, 1999 1,000 $40.625
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December 2, 1999 1,000 $40.125
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December 2, 1999 2,000 $40.750
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December 2, 1999 3,000 $40.812
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December 2, 1999 5,000 $41.750
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December 2, 1999 5,000 $41.500
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December 2, 1999 5,000 $41.125
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December 2, 1999 6,000 $39.750
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December 2, 1999 2,000 $39.812
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December 3, 1999 2,000 $40.500
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December 3, 1999 1,100 $41.250
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December 3, 1999 2,000 $40.500
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December 3, 1999 900 $40.736
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December 17, 1999 2,500 $42.000
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December 22, 1999 11,500 $41.500
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(1) Share amounts are actual number of shares sold and prices are actual
prices at which shares were sold. Neither have been adjusted to
retroactively be restated to take into account the 2 for 1 stock split
which was distributed on January 14, 2000.
<PAGE>
SCHEDULE 13D PAGE 10 OF 15 PAGES
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In June 2000 and July 2000, Rodin sold an aggregate of 700,000 shares
of the Common Stock in transactions effectuated through a broker, as follows:
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DATE OF TRANSACTION NUMBER OF SHARES SOLD (2) PRICE PER SHARE (2)
------------------- ------------------------- -------------------
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June 22, 2000 135,000 $20.1204
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June 26, 2000 15,000 $19.50
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June 26, 2000 5,000 $20.00
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June 27, 2000 30,000 $19.50
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June 28, 2000 45,000 $19.5625
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June 28, 2000 10,000 $19.50
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June 29, 2000 100,000 $20.50
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June 29, 2000 7,500 $20.375
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June 29, 2000 5,000 $20.25
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June 29, 2000 25,000 $20.00
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June 30, 2000 5,000 $20.0625
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June 30, 2000 25,000 $20.00
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July 3, 2000 15,000 $20.00
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July 5, 2000 277,500 $20.00
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(2) Share amounts are actual number of shares sold and prices are actual
prices at which shares were sold. Transactions all occurred after the 2
for 1 stock split which was distributed on January 14, 2000.
This Amendment No. 3 to Schedule 13D also updates beneficial ownership
to take into account the vesting since Amendment No. 2 of certain non-qualified
stock options to purchase shares of Common Stock granted to Helene B. Gralnick
and Marvin J. Gralnick pursuant to the Company's stock option plans and the
effect on the number of shares represented thereby by the 2 for 1 stock split
distributed on January 14, 2000 (the "Stock Split").
As to Helene B. Gralnick, (1) all of 30,000 non-qualified stock options
(15,000 options prior to the Stock Split) granted to Ms. Gralnick on May 1, 1995
are currently vested, with 10,000 of such options having vested on May 1, 1996,
an additional 10,000 of such options having vested on May 1, 1997 and the
remaining 10,000 of such options having vested on May 1, 1998, (2) all of 50,000
non-qualified stock options (25,000 options prior to the Stock Split) granted to
Ms. Gralnick on May 13, 1997 are currently vested, with 16,666 of such options
having vested on May 13, 1998, an
<PAGE>
SCHEDULE 13D PAGE 11 OF 15 PAGES
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additional 16,667 of such options having vested on May 13, 1999 and the
remaining 16,667 of such options having vested on May 13, 2000, (3) 13,333 of
20,000 non-qualified stock options (10,000 options prior to the Stock Split)
granted to Ms. Gralnick on April 14, 1998 are currently vested, with 6,666 of
such options having vested on April 14, 1999 and 6,667 of such options having
vested on April 14, 2000 and (4) 13,333 of 40,000 non-qualified stock options
(20,000 options prior to the Stock Split) granted to Ms. Gralnick on April 16,
1999 are currently vested, such 13,333 options having vested on April 16, 2000.
As to Marvin J. Gralnick, (1) all of 30,000 non-qualified stock options
(15,000 options prior to the Stock Split) granted to Mr. Gralnick on May 1, 1995
are currently vested, with 10,000 of such options having vested on May 1, 1996,
an additional 10,000 of such options having vested on May 1, 1997 and the
remaining 10,000 of such options having vested on May 1, 1998, (2) all of
200,000 non-qualified stock options (100,000 options prior to the Stock Split)
granted to Mr. Gralnick on May 13, 1997 are currently vested, with 66,666 of
such options having vested on May 13, 1998, an additional 66,667 of such options
having vested on May 13, 1999 and the remaining 66,667 of such options having
vested on May 13, 2000, (3) 66,666 of 100,000 non-qualified stock options
(50,000 options prior to the Stock Split) granted to Mr. Gralnick on April 14,
1998 are currently vested, with 33,333 of such options having vested on April
14, 1999 and 33,333 of such options having vested on April 14, 2000 and (4)
33,333 of 100,000 non-qualified stock options (50,000 options prior to the Stock
Split) granted to Mr. Gralnick on April 16, 1999 are currently vested, such
33,333 options having vested on April 16, 2000.
Rodin, Klee, Helene B. Gralnick, and Marvin J. Gralnick, in filing this
Statement, each jointly further amend and restate the Schedule 13D as follows:
ITEM 4 PURPOSE OF TRANSACTION.
-----------------------------------------
All of the transactions occurring in December 1998, June 1999, December
1999, June 2000, and July 2000 were engaged in to facilitate investment and/or
estate planning activities for the respective parties to those transactions.
Insofar as the Common Stock of the Issuer is concerned Rodin generally acquired
and continues to hold the Common Stock of the Issuer as an equity investment.
Rodin or any of the persons who are considered for purposes of Rule
13d-3 to beneficially own the shares of Common Stock owned by Rodin may from
time to time in the future acquire additional securities of the Issuer,
including shares of the Common Stock. In addition, from time to time in the
future, Rodin and any of the persons who are considered for purposes of Rule
13d-3 to beneficially own the shares of Common Stock owned by Rodin may dispose
of securities of the Issuer, including shares of the Common Stock. Except as
noted otherwise in this paragraph, at the time of the acquisition, Rodin and the
persons who are considered for purposes of Rule 13d-3 to beneficially own the
shares of Common Stock owned by Rodin had, and at the present time Rodin and the
persons who are considered for purposes of Rule 13d-3 to beneficially own the
shares of Common Stock owned by Rodin continue to have, no independent plans or
proposals of the type
<PAGE>
SCHEDULE 13D PAGE 12 OF 15 PAGES
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specified in paragraphs (a) through (j) of Item 4 of the Schedule 13D
Instructions except that Marvin J. Gralnick and/or Helene B. Gralnick may from
time to time, for estate planning purposes, but without obligation, transfer
limited partner interests primarily to family members, to irrevocable trusts
established for the benefit of family members and to persons in which family
members have interests. The intentions of Rodin or any of the persons who are
considered for purposes of Rule 13d-3 to beneficially own the shares of Common
Stock owned by Rodin with respect to the Common Stock of the Issuer may change
at any time in the future, or from time to time in the future. It is possible
that in the future, or from time to time in the future, Rodin or any of the
persons who are considered for purposes of Rule 13d-3 to beneficially own the
shares of Common Stock owned by Rodin may independently develop and implement or
engage in one or more of the transactions of the type specified in paragraphs
(a) through (j) of Item 4 of the Schedule 13D Instructions in addition to those
which may arise in connection with Ms. Gralnick's and Mr. Gralnick's current,
regular, and customary service as officers and directors of the Issuer and the
possible exercise of outstanding and vested stock options.
STOCK OPTIONS
The stock options held by Helene B. Gralnick and Marvin J. Gralnick
were granted under the Company's stock option plans, generally at the same time
as stock options were granted to other key employees of the Company, in each
case to provide incentive to the respective key employee to continue and
increase their respective efforts to improve operating results, to remain in the
employ of the Company and to have a greater financial interest in the Company.
As a result of the vesting of these options, Ms. Gralnick and Mr. Gralnick will
each be able to increase their respective ownership of stock in the Company upon
exercise of the respective options.
ITEM 5 INTEREST IN SECURITIES OF THE ISSUER.
------------------------------------------------------
Rodin is governed under the terms of the Limited Partnership Agreement
dated December 21, 1995, as amended (the "Rodin Agreement"). Under the terms of
the Rodin Agreement, the interests of the partners in Rodin, as of the execution
date of this Amendment, are: Klee & Co., L.L.C. - 83.043 Units, Marvin J.
Gralnick - 4,093.270 Units, Helene B. Gralnick - 4,093.270 Units and Leslie C.
Giordani, as the trustee of various irrevocable trusts established by Marvin J.
Gralnick and/or Helene B. Gralnick - - 34.39 Units in the aggregate.
Under the terms of the Rodin Agreement, Klee, in its capacity as the
sole general partner of Rodin, has the full and exclusive right and power to
manage and operate the business of Rodin, including the power to vote and
dispose of all shares of the Common Stock of the Issuer held by Rodin. Helene B.
Gralnick and Marvin J. Gralnick are the sole members of Klee. Therefore, Helene
B. Gralnick and Marvin J. Gralnick are considered for purposes of Rule 13d-3 to
beneficially own all of the shares of Common Stock owned by Rodin. Accordingly,
as a result of these relationships, Rodin, Klee, Helene B. Gralnick, and Marvin
J. Gralnick may be deemed to share the power to vote, direct the vote, dispose
of and direct the disposition of the 2,021,488 shares of the Common Stock
<PAGE>
SCHEDULE 13D PAGE 13 OF 15 PAGES
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of the Issuer held by Rodin. Such shares represent 11.59% of the total
outstanding shares of the Common Stock of the Issuer as of July 6, 2000.
In addition, as described herein, Helene B. Gralnick has the option to
acquire 106,667 additional shares of Common Stock that she beneficially owns
pursuant to the terms of those options granted to Ms. Gralnick under the
Company's stock option plans that are currently vested. The shares underlying
the vested stock options held by Ms. Gralnick, together with the shares held by
Rodin, constitute 12.13% of the total outstanding shares of the Common Stock of
the Issuer as of July 6, 2000.
In addition, as described herein, Marvin J. Gralnick has the option to
acquire 330,000 additional shares of Common Stock that he beneficially owns
pursuant to the terms of those options granted to Mr. Gralnick under the
Company's stock option plans that are currently vested. The shares underlying
the vested stock options held by Mr. Gralnick, together with the shares held by
Rodin, constitute 13.24% of the total outstanding shares of the Common Stock of
the Issuer as of July 6, 2000.
ITEM 6 CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
--------------------------------------------------------------------------------
See "Item 5 Interest in Securities of the Issuer" for information
regarding the Rodin Agreement.
Rodin is a party to "zero-cost collar" arrangements with respect to
certain shares of Common Stock owned by Rodin.
On December 24, 1998, Rodin entered into a letter agreement with
Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") pursuant to
which Rodin (a) bought from Merrill Lynch a European-style put relating to
159,240 shares of Common Stock (reflects adjustment for the effect of the Stock
Split) at a price of $11.0645 per share (reflects adjustment for the effect of
the Stock Split) , subject to further adjustment and (b) sold to Merrill Lynch a
European-style call relating to 159,240 shares of Common Stock (reflects
adjustment for the effect of the Stock Split) at a price of $15.9825 per share
(reflects adjustment for the effect of the Stock Split), subject to further
adjustment. The put and the call are not exercisable until, and are scheduled to
expire, on or about December 26, 2000, and if one of the two is in the money at
the close of trading on that date, that option shall be deemed to be
automatically exercised. Rodin has the right to determine whether settlement of
the put or call, as applicable, will be in cash or in shares of Common Stock. In
connection with the foregoing transaction (the "December 1998 Collar"), Rodin
granted Merrill Lynch a first priority lien, charge and security interest in the
shares of Common Stock held by Merrill Lynch as security for its obligations
under the zero-cost collar.
On January 8, 1999, Rodin entered into a letter agreement with Merrill
Lynch providing for a "zero-cost collar" on the same terms as the December 1998
Collar with the following differences:
<PAGE>
SCHEDULE 13D PAGE 14 OF 15 PAGES
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(a) the Rodin letter agreement related to 240,760 shares of Common Stock
(reflects adjustment for the effect of the Stock Split), (b) the put price is
$12.1795 (reflects adjustment for the effect of the Stock Split), subject to
further adjustment and the call price is $17.50 (reflects adjustment for the
effect of the Stock Split), subject to further adjustment, and (c) the put and
call are each scheduled to expire on or about January 8, 2001.
ITEM 7 MATERIAL TO BE FILED AS EXHIBITS.
--------------------------------------------------
None
<PAGE>
SCHEDULE 13D PAGE 15 OF 15 PAGES
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SIGNATURES
After reasonable inquiry and to the best of the knowledge and belief of
the undersigned, the undersigned certify that the information set forth in this
statement is true, complete and correct.
Dated: August 18, 2000
RODIN, LTD.
By: Klee & Co., L.L.C.,
General Partner
By: /s/ MARVIN J. GRALNICK
----------------------------------------------
Marvin J. Gralnick, Manager
By: /s/ HELENE B. GRALNICK
----------------------------------------------
Helene B. Gralnick, Manager
KLEE & CO., L.L.C.
By: /s/ MARVIN J. GRALNICK
--------------------------------------------------
Marvin J. Gralnick, Manager
By: /s/ HELENE B. GRALNICK
--------------------------------------------------
Helene B. Gralnick, Manager
/s/ HELENE B. GRALNICK
--------------------------------------------------
Helene B. Gralnick, Individually
/s/ MARVIN J. GRALNICK
--------------------------------------------------
Marvin J. Gralnick, Individually
