UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
THE BARBERS, HAIRSTYLING FOR MEN & WOMEN, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.10 PER SHARE
(Title of Class of Securities)
067160-10-1
(CUSIP Number)
J. BRENT HANSON
300 INDUSTRIAL BOULEVARD N.E.
MINNEAPOLIS, MINNESOTA 55413
(612) 331-8500
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
DECEMBER 30, 1996
(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- l(b)(3) or (4), check the following
box [ ].
Check the following box if a fee is being paid with this statement [ ].
The information required on 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.
(Cover page continued on next page)
Page 1 of 4 Pages
SCHEDULE 13D
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CUSIP No. 067160-10-1 PAGE 2 OF 4 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
Charles E. Garrity, as Trustee of the Florence F. Francis 1995
Irrevocable Annuity Trust under Agreement dated December 1, 1995
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_|
(b)|_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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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
Trust organized under the laws of the State of Minnesota
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NUMBER OF 7 SOLE VOTING POWER
SHARES 170,846 shares (after giving effect to stock split)
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0- shares
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING 170,846 shares (after giving effect to stock split)
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PERSON 10 SHARED DISPOSITIVE POWER
WITH -0- shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
170,846 shares (after giving effect to stock split)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.6%
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14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
ITEM 1. SECURITY AND ISSUER.
This statement relates to the Common Stock, par value $.10 per share,
of The Barbers, Hairstyling for Men & Women, Inc. ("Issuer"), a Minnesota
corporation, having its principal executive offices at 300 Industrial Boulevard
N.E., Minneapolis, Minnesota 55413.
ITEM 2. IDENTITY AND BACKGROUND.
The name and business address of the Reporting Person is Charles E.
Garrity, as Trustee of the Florence F. Francis 1995 Irrevocable Annuity Trust
under Agreement dated December 1, 1995, c/o Garrity & Associates, 9977 Valley
View Road, Suite 220, Eden Prairie, MN 55344. The Grantor of the Trust is
Florence F. Francis, for the benefit of the Grantor and her children.
Neither the Trust nor the Trustee has, during the last five years, been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors), nor has either been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction and as a result of such
proceedings 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.
The Trust is organized under the laws of the State of Minnesota.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
210,000 shares (after effect of stock split) were acquired as a gift
from Ms. Florence Francis, who is an officer and director of the Issuer; 39,154
were transferred December 1996 pursuant to the terms of the Trust.
ITEM 4. PURPOSE OF TRANSACTION.
The Trust holds the Issuer's common stock in trust, for investment
purposes only, for the benefit of the Grantor and her children.
The Trust does not have any plans or proposals which relate to or would
result in extraordinary corporate transactions affecting the Issuer, sale of its
assets, changes in its board of directors or management, capitalization,
dividend policy, business or corporate structure, charter or bylaws, or
delisting of the Issuer's securities, termination of registration of the
Issuer's securities or similar actions.
Page 3 of 4 Pages
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) According to information provided by the Issuer, as of December 20,
1996, there were approximately 2,571,454 shares of the Issuer's common stock
outstanding (after giving effect to a stock split). The Trust, at the present
time, beneficially owns an aggregate of 170,846 shares of the Issuer's common
stock, constituting approximately 6.6% of the outstanding shares.
(b) The Trust has sole voting power and sole dispositive power with
respect to 170,846 shares.
(c) Information with respect to transactions in the common stock of the
Issuer that were effected during the last sixty (60) days by the Reporting
Person is set forth below:
Transfer of 39,154 shares by Trust to Grantor of Trust.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
There are no contracts, arrangements, understandings or relationships
(legal or otherwise) between the Reporting Person and any person with respect to
any securities of the Issuer.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
None.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
hereby certify that the information set forth in this statement is true,
complete and correct.
Dated: January 21, 1996
/s/ Charles Garrity, Trustee
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Charles Garrity, as Trustee of
the Florence F. Francis 1995
Irrevocable Annuity Trust
Under Agreement dated
December 1, 1995
Page 4 of 4 Pages
