NORTON MCNAUGHTON INC
SC 13G/A, 1998-02-12
WOMEN'S, MISSES', AND JUNIORS OUTERWEAR
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                  SCHEDULE 13G


                    Under the Securities Exchange Act of 1934

                               (Amendment No. 2)*


                             Norton McNaughton, Inc.
                                (Name of Issuer)


                          Common Stock ($.01 par value)
                         (Title of Class of Securities)

                                   668685 10 0
                                 (CUSIP Number)


Check the following box if a fee is being paid with this statement / /. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).

*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).

                                Page 1 of 4 pages

<PAGE>   2
- ---------------------                                          -----------------
CUSIP NO. 668685 10 0                  13G                     PAGE 2 OF 4 PAGES
- ---------------------                                          -----------------

- --------------------------------------------------------------------------------
    1       NAME OF REPORTING PERSON
            S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON


                     Sanford Greenberg

- --------------------------------------------------------------------------------
    2       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                    (a) / /
                     Not applicable                                 (b) / /

- --------------------------------------------------------------------------------
    3       SEC USE ONLY



- --------------------------------------------------------------------------------
    4       CITIZENSHIP OR PLACE OF ORGANIZATION

                     United States

- --------------------------------------------------------------------------------
         NUMBER OF                5      SOLE VOTING POWER
           SHARES
        BENEFICIALLY                              798,117
          OWNED BY
            EACH             ---------------------------------------------------
         REPORTING                6      SHARED VOTING POWER
           PERSON
            WITH                                  0

                             ---------------------------------------------------
                                  7      SOLE DISPOSITIVE POWER

                                                  798,117

                             ---------------------------------------------------
                                  8      SHARED DISPOSITIVE POWER

                                                  0

- --------------------------------------------------------------------------------
    9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                     798,117

- --------------------------------------------------------------------------------
   10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES 
               CERTAIN SHARES*                                     / /


- --------------------------------------------------------------------------------
   11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                     10.72%

- --------------------------------------------------------------------------------
   12       TYPE OF REPORTING PERSON*

                     IN

- --------------------------------------------------------------------------------


                      *SEE INSTRUCTION BEFORE FILLING OUT!

                                Page 2 of 4 pages
<PAGE>   3
Cusip No. 668685 10 0                                          page 3 of 4 pages






Item 1(a).        Name of Issuer

                      The name of the issuer is Norton McNaughton, Inc. (the
"Company").


Item 1(b).        Address of Issuer's Principal Executive Offices

                      The principal executive offices of the Company are located
at 463 Seventh Avenue, New York, New York 10018.


Item 2(a).        Names of Persons Filing

                      This statement is being filed by Sanford Greenberg.


Item 2(b).        Address of Principal Business Office or, if None, Residence

                      The address of the principal business office of the
reporting person is c/o Norton McNaughton, Inc., 463 Seventh Avenue, New York,
New York 10018.


Item 2(c).        Citizenship

                      Sanford Greenberg is a citizen of the United States.


Item 2(d).        Title of Class of Securities

                      The securities to which this statement relates are shares
of the common stock, $.01 par value (the "Common Stock"), of the Company.


Item 2(e).        CUSIP Number

                      The CUSIP number of the Common Stock is 668685 10 0.


Item 3.               If this statement is filed pursuant to Rules 13d-1(b), or
                      13d-2(b), check whether the person filing is a:

                      Not applicable.

Item 4.           Ownership

                              (a) As of January 1, 1998 Sanford Greenberg
         beneficially owned, for purposes of Rule 13d-3 under the Act, 798,117
         shares of Common Stock.

                              (b) The shares owned beneficially by Sanford
         Greenberg represent approximately 10.72% of the issued and outstanding
         Common Stock as of January 1, 1998 (such amount includes 32,500 shares
         of Common Stock issuable on the exercise of currently exercisable
         options to purchase Common Stock granted to Mr. Greenberg pursuant to
         the Company's 1994 Stock Option Plan).

                              (c) As of January 1, 1998, Sanford Greenberg has
         the sole power to vote or to direct the voting of his shares and has
         the sole power to dispose of or to direct the disposition of his
         shares.


Item 5.  Ownership of Five Percent or Less of a Class

                  Not applicable.


                                Page 3 of 4 pages
<PAGE>   4
Cusip No. 668685 10 0                                          page 4 of 4 pages






Item 6.  Ownership of More than Five Percent on Behalf of Another Person

                  Not applicable.


Item 7.  Identification and Classification of the Subsidiary Which Acquired the
         Security Being Reported on by the Parent Holding Company

                  Not applicable.


Item 8.  Identification and Classification of Members of the Group

                  Not applicable.


Item 9.  Notice of Dissolution of Group

                  Not applicable.


Item 10. Certification

                  Not applicable.

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.

February 6, 1998



                                                 /s/ Sanford Greenberg
                                       -----------------------------------------
                                                  Sanford Greenberg


                               Page 4 of 4 pages


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