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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No 2 )*
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RTW, Inc.
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(Name of Issuer)
Common Stock, No Par Value
--------------------------
(Title of Class of Securities)
74974R 10 7
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(CUSIP Number)
Tamara Ladwig, RTW, Inc.
8500 Normandale Lake Boulevard,
Minneapolis, MN 55439, Phone: (612) 897-5569
---------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 31, 1997
-----------------
(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.
*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 the
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).
(Continued on following page(s))
Page 1 of 7 Pages
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CUSIP No. 74974R 10 7 13D Page 2 of 7 Pages
- --------------------- -----------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David C. Prosser
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
NA
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 97,532
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 2,182,505
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 97,532
REPORTING 10 SHARED DISPOSITIVE POWER
PERSON 2,182,505
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
2,280,037
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES*
[x]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
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CUSIP No. 74974R 10 7 13D Page 3 of 7 pages
- ------------------------- -----------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Margaret F. Prosser
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
NA
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,311,965
OWNED BY 9 SOLE DISPOSITIVE POWER
EACH 0
REPORTING 10 SHARED DISPOSITIVE POWER
PERSON 1,311,965
WITH
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
1,311,965
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES*
[x]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
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Item 1.
Security and Issuer
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(a) Name of Issuer
RTW, Inc., a Minnesota Corporation
Common Stock, No Par Value
(b) Address of Issuer's Principal Executive Offices
8500 Normandale Boulevard, Suite 1400, Bloomington, MN 55437.
Item 2.
Identity and Background
-----------------------
(a) Name. This statement is being jointly filed by David C. Prosser and
Margaret F. Prosser, husband and wife.
(b) Address of Principal Business Office Or, If None, Residence. The
principal address of David C. Prosser and Margaret F. Prosser is 6
Maclynn Road Excelsior, Mn 55331.
(c) Present Principal Occupation or Employment. David C. Prosser is
Chairman of the Board of Directors of RTW, Inc. Margaret F. Prosser
is not employed.
(d) Criminal Proceedings. - None.
(e) Litigation. - None.
(f) Citizenship. Mr. and Mrs. Prosser are citizens of the United States.
Item 5. Interest in Securities of the Issuer
------------------------------------
As of December 31, 1997, the ownership of David C. and Margaret F. Prosser
was as follows:
David C. Prosser
----------------
(a) Amount Beneficially Owned - 2,280,037
(b) Of the shares owned by Mr. Prosser, Mr. Prosser has the power to vote
as follows:
(i) Sole power to vote or direct the vote - 97,532
(ii) Shared power to vote or direct the vote - 2,182,505
(iii) Sole power to dispose or direct the disposition of - 97,532
(iv) Shared power to dispose or direct the disposition of - 2,182,505
Page 4 of 7 Pages
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Margaret F. Prosser
-------------------
(a) Amount Beneficially Owned - 1,311,965
(b) Of the shares owned by Mrs. Prosser, Mrs. Prosser has the power to vote
as follows:
(i) Sole power to vote or direct the vote - 0
(ii) Shared power to vote or direct the vote - 1,311,965
(iii) Sole power to dispose or direct the disposition of - 0
(iv) Shared power to dispose or direct the disposition of -1,311,965
Of the shares listed above, 97,532 shares are held solely by David C.
Prosser, and 1,311,965 shares are owned jointly by David C. Prosser and Margaret
F. Prosser as joint tenants with rights of survivorship. In addition, the
following shares are beneficially owned by David C. Prosser: (i) 2,150 shares
are deemed owned pursuant to currently exercisable options; (ii) 163,722 shares
held by the RTW, Inc. Employee Stock Ownership Plan ("ESOP"); (iii) 451,135
shares are held by the David C. Prosser 1997 Unitrust for which Mr. Prosser
serves as trustee; (iv) 116,085 shares are held by the David C. Prosser 1996
Unitrust for which Mr. Prosser serves as trustee; (v) 37,448 shares are held by
the David C. Prosser 1995 Unitrust for which Mr. Prosser serves as trustee; and
(vi) 100,000 shares are held by the David C. and Margaret F. Prosser Foundation
of which Mr. Prosser is President and for which he serves as trustee. Margaret
F. Prosser disclaims any beneficial interest in the shares held by David C.
Prosser other than the shares held jointly with him. David C. Prosser disclaims
any beneficial interest in the ESOP other the 8,914 shares allocated to his
account as of 12/31/97.
(c) Recent Transactions. On May 16, 1997, Mr. and Mrs. Prosser transferred
500,000 shares to the David C. Prosser 1997 Unitrust and 100,000 shares
to the David C. and Margaret F. Prosser Foundation. On October 31,
1997, each of the David C. Prosser 1995 Unitrust, the David C. Prosser
1996 Unitrust and the David C. Prosser 1997 Unitrust distributed an
aggregate 97,532 shares of Common Stock of the Issuer to David C.
Prosser. The 1995 Unitrust distributed 7,052 shares, the 1996 Unitrust
distributed 41,615 shares and the 1997 Unitrust distributed 48,865
shares. No consideration was paid by Mr. Prosser, the 1997 Unitrust or
the Foundation in connection with the distribution of the shares.
(d) Not applicable.
(e) Not applicable.
Item 7. Material to be Filed as Exhibits
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Joint Filing Agreement.
Page 5 of 7 pages
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SIGNATURE
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After reasonable inquiry and to the best of our knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 16, 1998
/s/ David C. Prosser
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David C. Prosser
/s/ Margaret F. Prosser
----------------------------
Margaret F. Prosser
Page 6 of 7 Pages
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EXHIBIT I
JOINT FILING AGREEMENT
The undersigned, David C. Prosser and Margaret F. Prosser, hereby agree
that this Schedule 13D relating to securities of RTW, Inc. shall be filed on
behalf of each of them.
Dated: February 16, 1998
/s/ David C. Prosser
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David C. Prosser
/s/ Margaret F. Prosser
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Margaret F. Prosser
Page 7 of 7 Pages