SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ____)*
Union Acceptance Corporation
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(Name of Issuer)
Class A Common Stock, without par value
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(Title of Class of Securities)
904832102
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(CUSIP Number)
Donald A. Sherman, 7500 West Jefferson, Fort Wayne, Indiana 46804, (219)
434-8400
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
October 31, 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.
* 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
disclosures provided in a prior cover page.
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 (however, see the
Notes).
PAGE 1 OF 6
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SCHEDULE 13D
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CUSIP No. 904832102 Page 1 of 4 Pages
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1 NAME OF REPORTING PERSONS Donald A. Sherman
S.S. or I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
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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 BK
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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 of America
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7 SOLE VOTING POWER 213,354
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NUMBER OF
SHARES 8 SHARED VOTING POWER - 0 -
BENEFICIALLY ----------------------------------------------------------
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER 213,354
REPORTING ----------------------------------------------------------
PERSON
WITH 10 SHARED DISPOSITIVE POWER - 0 -
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
213,354
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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)
5.31%
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14 TYPE OF REPORTING PERSON
IN
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Page 2 of 4
Item 1. Security and Issuer
Title of Security: Class A Common Stock, without par value
Issuer: Union Acceptance Corporation
250 North Shadeland Avenue
Indianapolis, Indiana 46219
Item 2. Identity and Background
(a) Donald A. Sherman
(b) 7500 West Jefferson
Fort Wayne, Indiana 46804
(c) President
Waterfield Mortgage Company, Incorporated
7500 West Jefferson
Fort Wayne, Indiana 46804
(d) No
(e) No
(f) United States of America
Item 3. Source and Amount of Funds or Other Consideration
Donald A. Sherman acquired 210,000 shares of Class A Common Stock,
without par value, of Union Acceptance Corporation ("Class A Common Stock") on
October 31, 1997 for approximately $1,365,000 (excluding brokerage commissions,
if any). Mr. Sherman borrowed all of the funds for such purchase from Fort Wayne
National Bank.
Item 4. Purpose of Transaction
The shares of Class A Common Stock acquired on October 31, 1997 were
acquired for investment.
Item 5. Interest in Securities of Issuer.
(a) Donald A. Sherman beneficially owns 213,354 shares (5.31%) of Class A
Common Stock.
(b) Sole Voting Power: 213,354
Shared Voting Power: - 0 -
Sole Dispositive Power: 213,354
Shared Dispositive Power: - 0 -
<PAGE>
Page 3 of 4
(c) On October 29, 1997, Mr. Sherman acquired 2,449 shares of Class A
Common Stock as an automatic award of shares of Class A Common Stock to
independent directors pursuant to Union Acceptance Corporation's
Incentive Stock Plan.
(d) None.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer.
None.
Item 7. Material to be Filed as Exhibits.
None.
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.
- ------------------------------------- ------------------------------------
Date Donald A. Sherman
