SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
PURSUANT TO SECTION 12,13 OR 15(d) OF THE
SECURTIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 31, 1997
WALDEN RESIDENTIAL PROPERTIES,INC.
401(k)PLAN
(Exact name of Registrant as specified in its Charter)
MARYLAND 1-12592 75-2506197
(State of other jurisdiction (Commission (I.R.S. Employer
incorporation or organization) file number) Indentification Number)
5080 Spectrum Drive
Suite 1000 E
Dallas, Texas 75248
(Address of principal executive offices)
Registrant's telephone number, including area code: (972) 788-0510
Not Applicable
(Former name or former address, if changed since last report)
EXPLANATORY NOTE
Walden Residential Properties, Inc. 401(K) Plan has changed the plan year
from a twelve month period ended September 30 to a calendar year. This
Form 8K is being filed for the short period from October 1, 1997 to
December 31, 1997 pursuant to the plan year change.
The data presented on the following pages represents unaudited financial
information for the three months ended December 31, 1997 and audited
financial information for the year ended September 30, 1997. In the opinion of
management, all adjustments, consisting only of normal recurring adjustments,
necessary to fairly present the financial position and changes in net assets
of the 401(K) Plan as of and for the three month period ended
December 31, 1997 have been made.
WALDEN RESIDENTIAL PROPERTIES, INC. 401(k) PLAN
(FORMERLY WDN MANAGEMENT COMPANY 401(k) PLAN)
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 1997
<TABLE>
<CAPTION>
Supplemental Information by Fund
------------------------------------------------------------------------------------------------
High Yield
Money Capital Corporate Total Walden Participant Total
Market Appreciation Convertible Value Bond Return Government Stock Loans Plan
------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Investments at fair value:
Walden Residential
Properties, Inc.
common stock $ -- $ -- $ -- $ -- $ -- $ -- $ -- $198,856 $ -- $ 198,856
Mutual Fund 54,266 550,349 2,800 319,416 56,986 70,125 89,607 -- -- 1,143,549
Employee loans -- -- -- -- -- -- -- -- 33,346 33,346
-------- -------- -------- --------- -------- -------- ------- -------- ------- ----------
Total investments 54,266 550,349 2,800 319,416 56,986 70,125 89,607 198,856 33,346 1,375,751
Cash -- -- -- -- -- -- -- 17,774 -- 17,774
Contributions
receivable - employer 4,348 31,258 -- 17,796 5,360 4,181 3,822 10,421 -- 77,186
Contributions
receivable - employee 4,160 38,129 -- 21,511 5,888 4,587 4,566 80 -- 78,921
--------- --------- ------- --------- -------- -------- --------- --------- ----- --------
NET ASSETS
AVAILABLE FOR BENEFITS $ 62,774 $ 619,736 $ 2,800 $ 358,723 $ 68,234 $ 78,893 $ 97,995 $227,131 $ 33,346 $1,549,632
======== ========= ======= ========== ======== ======== ========= ======== ========== ==========
</TABLE>
WALDEN RESIDENTIAL PROPERTIES, INC. 401(k) PLAN
(FORMERLY WDN MANAGEMENT COMPANY 401(k) PLAN)
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
SEPTEMBER 30, 1997
<TABLE>
<CAPTION>
Supplemental Information by Fund
---------------------------------------------------------------------------------------------
High Yield
Money Capital Corporate Total Walden Participant Total
Market Appreciation Convertible Value Bond Return Government Stock Loans Plan
----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Investments at fair value:
Walden Residential
Properties, Inc.
common stock $ --$ -- $ -- $ -- $ -- $ -- $ -- $156,104 $ -- $ 156,104
Mutual Funds 26,943 475,954 33,705 277,306 40,993 50,778 73,940 -- -- 979,619
Employee loan -- -- -- -- -- -- -- -- 19,101 19,101
------ -------- -------- ------- -------- ------- --------- -------- ---------- ---------
Total investments 26,943 475,954 33,705 277,306 40,993 50,778 73,940 156,104 19,101 1,154,824
Cash -- -- -- -- -- -- -- 1,223 -- 1,223
Employer's contributions
receivable -- 44,274 2,880 30,367 5,848 5,177 10,157 25,293 -- 123,996
-------- -------- -------- ------- -------- ------- -------- -------- ----------- ---------
NET ASSETS
AVAILABLE FOR
BENEFITS $ 26,943 $520,228 $ 36,585 $307,673 $ 46,841 $55,955 $ 84,097$ 182,620 $ 19,101 $1,280,043
======== ======== ======== ======== ======== ======= ========= ======== ========== ==========
</TABLE>
WALDEN RESIDENTIAL PROPERTIES, INC. 401(k) PLAN
(FORMERLY WDN MANAGEMENT COMPANY 401(k) PLAN)
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
THREE MONTHS ENDED DECEMBER 31, 1997
<TABLE>
<CAPTION>
Supplemental Information by Fund
-------------------------------------------------------------------------------------------
High Yield
Money Capital Corporate Total Walden Participant Total
Market Appreciation Convertible Value Bond Return Government Stock Loans Plan
-------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Investment income:
Net appreciation (depreciation)
in fair value of Investments $ -- $(21,471)$(3,696) $(30,092)$(3,374)$(5,245) $ 1,147 $ 6,775 $ -- $(55,956)
Dividend income 221 18,796 2,118 35,267 3,406 5,459 1,402 3,855 -- 70,524
----- --------- ------ ------ ------ ------- ------- -------- ------ ---------
221 (2,675) (1,578) 5,175 32 214 2,549 10,630 -- 14,568
Employer contributions 4,348 31,258 -- 17,795 5,361 4,181 3,822 10,421 -- 77,186
Employee contributions 10,644 95,223 2,462 52,381 16,390 11,543 10,307 32,994 -- 231,944
------ -------- ------- ------- ------ ------ ------- -------- ----- --------
Total additions 15,213 123,806 884 75,351 21,783 15,938 16,678 54,045 -- 323,698
Insurance premium payments (1,150) -- -- -- -- -- -- -- -- (1,150)
Benefits paid to participants (4,005) (16,713) (6,602) (14,863) (207) (205) (1,032) (9,332) -- (52,959)
-------- --------- ------ ------ ------ ------- ------- -------- ------- ---------
Total deductions (5,155) (16,713) (6,602) (14,863) (207) (205) (1,032) (9,332) -- (54,109)
Loans to participants (1,119) (9,503) -- ( 5,577) (198) (618) (1,785) -- 18,800 --
Employee loan payments 3,447 429 -- 312 15 -- 133 219 (4,555) --
Transfers from (to) other funds 23,445 1,489 (28,067) (4,173) -- 7,823 (96) (421) -- --
-------- --------- -------- ------- ----- ----- ------- ---------- ------- -------
Net increase (decrease) 35,831 99,508 (33,785) 51,050 21,393 22,938 13,898 44,511 14,245 269,589
NET ASSETS
AVAILABLE FOR
BENEFITS:
BEGINNING OF PERIOD 26,943 520,228 36,585 307,673 46,841 55,955 84,097 182,620 19,101 1,280,043
--------- --------- -------- -------- ------ ------ ------- --------- -------- --------
END OF YEAR $62,774 $ 619,736 $ 2,800 $358,723 $68,234$78,893 $97,995 $ 227,131 $ 33,346$1,549,632
======= ========= ======== ======== ======= ===== ======= ========= ========= =========
</TABLE>
WALDEN RESIDENTIAL PROPERTIES, INC. 401(k) PLAN
(FORMERLY WDN MANAGEMENT COMPANY 401(k) PLAN)
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEAR ENDED SEPTEMBER 30, 1997
Supplemental Information by Fund
<TABLE> ------------------------------------------------------------------------------------------------
<CAPTION> High Yield
Money Capital Corporate Total Walden Participant Total
Market Appreciation Convertible Value Bond Return Government Stock Loans Plan
------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Ivestment income:
Net appreciation in fair
value of investments $ -- $ 89,019 $ 3,021$37,627 $ 1,587 $ 6,694 $ 357 $ 14,388 $ -- $152,693
Dividend income 548 3,213 2,149 14,943 2,659 1,655 3,296 8,791 -- 37,254
------- --------- -------- ------ --------- ------- -------- --------- ------- --------
548 92,232 5,170 52,570 4,246 8,349 3,653 23,179 -- 189,947
Employer contributions -- 44,274 2,880 30,367 5,848 5,177 10,157 25,293 -- 123,996
Employee contributions 24,967 157,675 11,805 95,233 18,836 14,782 34,573 58,670 -- 416,541
------- --------- -------- ------- --------- ------- -------- --------- ------- --------
Total additions 25,515 294,181 19,855 178,170 28,308 28,930 48,383 107,142 -- 730,484
Insurance premium payments (12,278) -- -- -- -- -- -- -- -- (12,278)
Benefits paid to participants(1,032) (32,002) (5,625)(20,932) (5,367) (5,144) (4,903) (8,704) -- (83,709)
Administrative expenses -- (17) -- (14) (1) -- (4) (14) -- (50)
------- --------- -------- ------- --------- --------- --------- --------- -------- --------
Total deductions (13,310) (32,019) (5,625)(20,946) (5,368) (5,144) (4,907) (8,718) -- (96,037)
Loans to participants (900) (8,638) -- (7,420) (230) -- (1,862) -- 19,050 --
Employee loan payments -- 431 -- 301 24 -- 67 226 (1,049) --
Transfers from (to) other
funds (222,019) 96,156 8,800 62,253 12,448 9,267 15,732 17,363 -- --
-------- --------- ------- -------- ---------- --------- ------- ---------- --------- --------
Net increase (decrease) (210,714) 350,111 23,030 212,358 35,804 32,431 57,413 116,013 18,001 634,447
NET ASSETS
AVAILABLE FOR
BENEFITS:
BEGINNING OF YEAR 237,657 170,117 13,555 95,315 11,037 23,524 26,684 66,607 1,100 645,596
-------- --------- ------- --------- -------- -------- --------- ---------- ------- ---------
END OF YEAR $ 26,943 $ 520,228 $36,585 $ 307,673 $46,841 $ 55,955 $84,097 $ 182,620 $ 19,101 $1,280,043
========= ========= ========= ========= ======== ========= ======= ========== ========= ==========
</TABLE>
