UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
Crossmann Communities, Inc.
(Name of Issuer)
Common Shares
(Title or Class of Securities)
22764E 10 9
(CUSIP Number)
Steven K. Humke
Ice Miller Donadio & Ryan, One American Square, Box 8200, Indianapolis,
Indiana 46282
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 7, 1996
Date of Event Which Requires Filing of this Statement
If the filing person has previously filed 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 [ ].
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CUSIP No. 22764E 10 9
1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Richard H. Crosser
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b) [ X]
3. SEC USE ONLY
4. SOURCE OF FUNDS
00
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
<TABLE>
<CAPTION>
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
<S> <C>
5. SOLE VOTING POWER 1,484,600
6. SHARED VOTING POWER -0-
7. SOLE DISPOSITIVE POWER 1,484,600
8. SHARED DISPOSITIVE POWER -0-
</TABLE>
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,484,600
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
24.2%
12. TYPE OF REPORTING PERSON
IN
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SCHEDULE 13D
ITEM 1. SECURITY AND ISSUER.
This Schedule 13D relates to the Common Shares, no par value, of
Crossmann Communities, Inc. ("Crossmann Communities"), an Indiana corporation,
with principal executive offices at 9202 North Meridian Street, Suite 300,
Indianapolis, Indiana 46268.
ITEM 2. IDENTITY AND BACKGROUND.
(a) This Schedule 13D is being filed by Richard A. Crosser.
(b) Mr. Crosser's business address is Crossmann Communities, Inc.,
9202 North Meridian Street, Suite 300, Indianapolis, Indiana 46268.
(c) Mr. Crosser is the President and Chief Operating Officer of
Crossmann Communities, Inc., 9202 North Meridian Street, Suite 300,
Indianapolis, Indiana 46268.
(d) During the past five years, Mr. Crosser has not been convicted in
a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) During the last five years, Mr. Crosser has not been a party to
any civil proceeding of a judicial or administrative body of competent
jurisdiction as a result of which Mr. Crosser was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating the activities subject to, federal or state securities laws or
finding any violation with respect to such laws.
(f) Mr. Crosser is a citizen of the United States of America.
ITEM 3. SOURCES AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Mr. Crosser is the beneficial owner of 1,484,600 Common Shares of
Crossmann Communities which are held of record by the Richard H. Crosser
Living Trust (the "Crosser Trust"). The Crosser Trust acquired the Common
Shares in connection with a reorganization (which occurred simultaneously with
the Company's initial public offering in 1993) in which Crossmann Communities
acquired all of the outstanding shares of Deluxe Homes, Inc., Deluxe Homes of
Lafayette, Inc., Trimark Homes, Inc., Trimark Development, Inc. and Merit
Realty, Inc. The Common Shares of the Company were acquired in exchange for
the Crosser Trust's common shares of the following entities: Deluxe Homes,
Inc. (9,000), Trimark Homes, Inc. (50), Trimark Development, Inc. (10), and
Trimark Realty, Inc. (400).
ITEM 4. PURPOSES OF TRANSACTION.
Mr. Crosser has no present plans or proposal which may relate to or would
result in (a) the acquisition or disposition of additional securities of
Crossmann Communities; (b) an extraordinary corporate transaction, such as a
merger, reorganization, or liquidation, involving Crossmann Communities or any
of its subsidiaries; (c) a sale or transfer of a material amount of assets of
Crossmann Communities or any of its subsidiaries; (d) any change in the
present Board of Directors or management of Crossmann Communities, including
any plans or proposals to change the number or term of directors or to fill
any existing vacancies on the Board of Directors; (e) any material change in
the present capitalization or dividend policy of Crossmann Communities; (f)
any other material change in Crossmann Communities business or corporate
structure; (g) changes in Crossmann Communities' Articles of Incorporation,
Bylaws, or instruments corresponding thereto or other actions which may impede
the acquisition of control of Crossmann Communities by any person; (h) causing
a class of securities of Crossmann Communities to be delisted from a national
securities exchange or cease to be authorized to be quoted in an inter-dealer
quotation system of a registered national securities association; (i) a class
of equity securities of Crossmann Communities becoming eligible for
termination of a registration pursuant to Section 12(g)(4) of the Securities
Exchange Act of 1934, as amended; or (j) any action similar to any of those
enumerated above.
ITEMS 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of December 31, 1996, Mr. Crosser owned 1,484,600 Common
Shares of Crossmann Communities which represents approximately 24.2% of
Crossmann Communities issued and outstanding Common Shares as of that date.
(b) Mr. Crosser has the sole power to vote and dispose of the Common
Shares set forth in Item 5(a).
(c) On the dates listed below, Mr. Crosser sold the number of shares
listed below in a market transactions pursuant to Rule 144 promulgated by the
United States Securities and Exchange Commission:
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<TABLE>
<CAPTION>
<S> <C> <C>
Amount of Price
Date Securities Involved Per Share
- ---------------- ------------------- ----------
January 25, 1996 15,000 $ 20.50
January 26, 1996 20,000 $ 20.25
April 16, 1996 10,000 $ 19.125
May 6, 1996 25,000 $ 21.375
May 7, 1996 25,000 $ 21.125
May 7, 1996 50,000 $ 21.00
</TABLE>
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Not applicable.
<PAGE>
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 14, 1997
By: /s/Richard H. Crosser
-----------------------
Richard H. Crosser
