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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Jalate, Ltd.
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
470145 10 3
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(CUSIP NUMBER)
John D. Robertson
1600 Bank of Oklahoma Plaza
201 Robert S. Kerr
Oklahoma City, Oklahoma 73102
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(Name, Address and Telephone Number
of Person authorized to Receive
Notices and Communications)
October 10, 1997
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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(b)(3) or (4), check the following box [_____].
Note: Six copies of this statement, including all exhibits should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
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CUSIP NO. ___________
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
William M. DeArman ###-##-####
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2. Check the Appropriate Box if a Member of a Group (a) [___]
(b) [ X ]
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3. SEC Use Only
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4. Source of Funds
PF/00
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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
United States
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7. Sole Voting Power
Number of 176,000
Shares ------------------------------------------------------------
Beneficially 8. Shared Voting Power
Owned by Each
Reporting Person 4,200
With ------------------------------------------------------------
9. Sole Dispositive Power
176,000
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10. Shared Dispositive Power
4,200
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
180,400
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12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
[ X ]
Excludes 17,500 shares held by or for the benefit of the reporting person's
children.
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13. Percent of Class Represented by Amount in Row (11)
5.3%
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14. Type of Reporting Person
IN
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SCHEDULE 13D
Item 1. SECURITY ISSUER.
Title of class of equity securities: Common Stock, no par value
Issuer: Jalate, Ltd.
Address of principal executive offices: 1675 South Alameda Street, Los
Angeles, California 90021
Item 2. IDENTITY AND BACKGROUND.
This statement is filed by William M. DeArman.
William M. DeArman is a private investor. Mr. DeArman's address is 5420
Huckleberry Lane, Houston, Texas 77056. Mr. DeArman is a United States
citizen.
Mr. DeArman has not, during the last five years, been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors)
or been a party to a civil proceeding of a judicial or administrative body
of competent jurisdiction and as a result of such proceeding was or is
subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The funds used to purchase the Common Stock of the Issuer came from the
personal funds of Mr. DeArman, the funds of an individual retirement
account for the benefit of Mr. DeArman, the funds of a trust of which Mr.
DeArman is the sole beneficiary, and the funds of an individual retirement
account for the benefit of Mr. DeArman's wife, Carol DeArman, as the case
may be. See Response to Item 5 below. The aggregate purchase price of the
180,400 shares of Common Stock beneficially owned by Mr. DeArman was
$399,011.10, including brokerage commissions.
Item 4. PURPOSE OF TRANSACTION.
The purpose of the acquisition of the shares of Common Stock by Mr. DeArman
is for investment, and the purchases were made in the ordinary course of
business. Mr. DeArman may make further purchases of shares of Common Stock
from time to time and may dispose of any or all of the shares of Common
Stock beneficially owned by him at any time. Mr. DeArman does not have any
current plans or proposals which relate to, or could result in, any of the
matters referred to in paragraphs (b) through (j), inclusive, of Item 4 of
Schedule 13D. Mr. DeArman may,
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at any time and from time to time, review or reconsider his position and
formulate plans or proposals with respect thereto, but has no present
intention of doing so.
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The aggregate number of shares of Common Stock of the Issuer
beneficially owned by Mr. DeArman is 180,400 or approximately 5.3%. Of this
amount, 175,000 shares were purchased by Mr. DeArman, 4,000 shares were
purchased by a trust of which Mr. DeArman is the sole beneficiary, 200
shares were purchased by an individual retirement account for the benefit
of Mr. DeArman, 200 shares were purchased by an individual retirement
account for the benefit of Mr. DeArman's wife, Carol DeArman, and 1,000
shares were purchased by Mr. DeArman as custodian for the benefit of
certain of Mr. DeArman's children.
This amount does not include 3,000 shares held individually by one of
Mr. DeArman's children or 14,500 shares held by trusts for the benefit of
certain of Mr. DeArman's children. Mr. DeArman disclaims beneficial
ownership of these 17,500 shares held by or for the benefit of his
children.
(b) Mr. DeArman has the sole power to vote and to dispose of 176,000
shares of Common Stock of the Issuer. Mr. DeArman shares the power to vote
and dispose of 4,200 shares of Common Stock of the Issuer. Delaware
Charter Guarantee & Trust Company, P. O. Box 8963, Wilmington, Delaware
19899-8963, shares the power to vote and dispose of the 4,000 shares of
Common Stock held in trust for Mr. DeArman. Merrill Lynch Pierce Fenner &
Smith, 3100 Texas Commerce Tower, Houston, Texas 77002 shares the power to
vote and dispose of the 200 shares of Common Stock held by Mr. DeArman's
individual retirement account.
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(c)
<TABLE>
<CAPTION>
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IDENTITY OF PERSON DATE OF NO. OF PRICE PER SHARE TYPE OF
WHO EFFECTED THE TRANSACTION SHARES TRANSACTION
TRANSACTION
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<S> <C> <C> <C> <C>
William M. DeArman 09/03/97 25,000 $1.816 Brokerage -
Sanders Morris
Mundy, Inc.
William M. DeArman 09/08/97 200 $1.75 Brokerage -
Sanders Morris
Mundy, Inc.
William M. DeArman 09/11/97 1,000 $1.75 Brokerage -
Sanders Morris
Mundy, Inc.
William M. DeArman 09/12/97 300 $1.75 Brokerage -
Sanders Morris
Mundy, Inc.
William M. DeArman 09/16/97 200 $1.75 Brokerage -
Sanders Morris
Mundy, Inc.
William M. DeArman 09/29/97 36,000 $1.75 Brokerage -
Sanders Morris
Mundy, Inc.
William M. DeArman 10/09/97 25,000 $1.75 Brokerage -
Sanders Morris
Mundy, Inc.
William M. DeArman 10/10/97 23,100 $1.75 Brokerage -
Sanders Morris
Mundy, Inc.
William M. DeArman 10/13/97 1,000 $1.75 Brokerage -
Sanders Morris
Mundy, Inc.
William M. DeArman 10/14/97 900 $1.75 Brokrage -
Sanders Morris
Mundy, Inc.
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</TABLE>
(d) Not Applicable.
(e) Not Applicable.
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Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
None.
Item 7. MATERIAL TO BE FILED AS EXHIBITS.
None.
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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.
DATED: October 15, 1997.
/s/ William M. DeArman
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William M. DeArman
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