SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
(UNDER THE SECURITIES EXCHANGE ACT OF 1934)
UNION ACCEPTANCE CORPORATION
(Name Of Issuer)
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CLASS A COMMON STOCK, no par value
(Title of Class of Securities)
904832102
(CUSIP Number of Class of Securities)
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Michael G. Stout
609 Hampshire Court
Carmel, IN 46032
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
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COPY TO:
Mitchell S. Dupler, Esq.
Cleary, Gottlieb, Steen & Hamilton
2000 Pennsylvania Avenue, N.W.
Washington, D.C. 20006-1801
(202) 974-1500
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February 10, 1999
(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 [ ].
<PAGE>
SCHEDULE 13D
CUSIP No. 904832102
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Michael G. Stout and Shelley L. Stout
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
Number Of 7 SOLE VOTING POWER
Shares none
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Beneficially 8 SHARED VOTING POWER
Owned By 320,000
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Each Reporting 9 SOLE DISPOSITIVE POWER
Person none
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With 10 SHARED DISPOSITIVE POWER
375,770(1)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
375,770 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.15%(2)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
- ----------
(1) Includes 14,107 shares held by James F. Stout and Bonnie G. Stout, 13,500
shares held by Jaymie L. Berg, 5,000 shares held by Julie A. Stout and
23,163 shares held by William B. Scott all of whom are also reporting
persons and over which the Reporting Person has shared dispositive power.
See Item 5.
(2) Based on information provided by the Issuer that, as of February 17, 1999
and after taking into account the conversion of 149,770 shares of Issuer's
Class B Common Stock into Class A Common Stock upon sale to the Reporting
Persons (as defined herein).
<PAGE>
SCHEDULE 13D
CUSIP No. 904832102
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
James F. Stout and Bonnie G. Stout
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
Number Of 7 SOLE VOTING POWER
Shares None
-------------------------------------------------------
Beneficially 8 SHARED VOTING POWER
Owned By 14,107
-------------------------------------------------------
Each Reporting 9 SOLE DISPOSITIVE POWER
Person None
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With 10 SHARED DISPOSITIVE POWER
14,107
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,107 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.31%(2)
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14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 904832102
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Jaymie L. Berg
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
Number Of 7 SOLE VOTING POWER
Shares 13,500
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Beneficially 8 SHARED VOTING POWER
Owned By None
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Each Reporting 9 SOLE DISPOSITIVE POWER
Person None
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With 10 SHARED DISPOSITIVE POWER
13,500
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,500 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.29%(2)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 904832102
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Julie A. Stout
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
Number Of 7 SOLE VOTING POWER
Shares 5,000
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Beneficially 8 SHARED VOTING POWER
Owned By None
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Each Reporting 9 SOLE DISPOSITIVE POWER
Person None
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With 10 SHARED DISPOSITIVE POWER
5,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.11%(2)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 904832102
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
William B. Scott
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
Number Of 7 SOLE VOTING POWER
Shares 23,163
-------------------------------------------------------
Beneficially 8 SHARED VOTING POWER
Owned By None
-------------------------------------------------------
Each Reporting 9 SOLE DISPOSITIVE POWER
Person None
-------------------------------------------------------
With 10 SHARED DISPOSITIVE POWER
23,163
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
23,163 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.50%(2)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
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<PAGE>
ITEM 1. SECURITY AND ISSUER.
The name of the Issuer is Union Acceptance Corporation, an Indiana
corporation (the "Issuer"), which has its principal executive offices at 45
North Pennsylvania Street, Indianapolis, Indiana 46204. The title of the
securities to which this Statement relates is the Issuer's Class A Common Stock,
no par value (the "Shares").
ITEM 2. IDENTITY AND BACKGROUND.
(a) Pursuant to Rule 13d-1(f) of Regulation 13D-G of the General Rules and
Regulations under the Securities Exchange Act of 1934, as amended (the "Act"),
this Schedule 13D Statement is hereby filed by Michael G. Stout and Shelley L.
Stout, James F. Stout and Bonnie G. Stout, Jaymie L. Berg, Julie A. Stout and
William B. Scott (collectively, the "Reporting Persons"). Based on investment
and family relationships, the Reporting Persons may be deemed to constitute a
"group" within the meaning of Section 13(d)(3) of the Act, although neither the
fact of this filing nor anything contained herein shall be deemed an admission
by the Reporting Persons that a "group" exists, and the Reporting Persons
expressly disclaim that any such "group" exists.
(b-c)
Michael G. Stout and Shelley L. Stout
Michael G. Stout and Shelley L. Stout reside at 609 Hampshire Court,
Carmel, Indiana 46032-9485. Michael G. Stout's principal occupation is as a
private investor and Shelley L. Stout is a homemaker.
James F. Stout and Bonnie G. Stout
James F. Stout and Bonnie G. Stout reside at 14933 Lori Road, Prior Lake,
Minnesota 55372. They are retired.
Jaymie L. Berg
Jaymie L. Berg, a full-time student, resides at 6449 N. Chester Avenue,
Indianapolis, Indiana 46220.
Julie A. Stout
Julie A. Stout resides at 5889 Forest Lane, Indianapolis Indiana 46220.
Presently, her principal occupation is as a salesperson.
William B. Scott
William B. Scott, a dentist, resides at 1499 W. 350 H, Franklin, Indiana
46131.
(d)-(e) During the last five years, none of the Reporting Persons has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or has been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction as a result of which such person
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 of such laws.
(f) All of the Reporting Persons are citizens of the United States of
America.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Michael G. Stout and Shelley L. Stout
Michael G. Stout and Shelly L. Stout acquired 105,000 Shares on February
10, 1999 for an aggregate purchase price of $735,000. Prior to February 10,
1999, Michael G. Stout and Shelly L. Stout had acquired an aggregate of 215,000
Shares in a series of transactions for an aggregate purchase price of
$1,265,611. The source of the $1,265,611 used to acquire such Shares was
personal funds.
James F. Stout and Bonnie G. Stout
James F. Stout and Bonnie G. Stout acquired 13,107 Shares on February 10,
1999 for an aggregate purchase price of $91,749. Prior to February 10, 1999,
James F. Stout and Bonnie G. Stout had acquired an aggregate of 1,000 Shares for
an aggregate purchase price of $10,222. The source of the $10,222 used to
acquire such Shares was personal funds.
Jaymie L. Berg
Jaymie L. Berg acquired 12,500 Shares on February 10, 1999 for an aggregate
purchase price of $87,500. Prior to February 10, 1999, Jaymie L. Berg had
acquired an aggregate of 1,000 Shares for an aggregate purchase price of
$10,000. The source of the $10,000 used to acquire such Shares was personal
funds.
Julie A. Stout
Julie A. Stout acquired 5,000 Shares on February 10, 1999 for an aggregate
purchase price of $35,000. The source of the $35,000 used to acquire such Shares
was personal funds.
William B. Scott
William B. Scott acquired 14,163 Shares on February 10, 1999 for an
aggregate purchase price of $99,141. The source of the funds was the proceeds of
a credit line with the Farm Credit Service of Mid-America, ACA in Franklin, IN.
Prior to February 10, 1999, Mr. Scott had acquired an aggregate of 9,000 Shares
for an aggregate purchase price of $63,625. The source of the $63,625 used to
acquire such shares was personal funds.
ITEM 4. PURPOSE OF TRANSACTION.
In the past, Michael G. Stout made a proposal to the Issuer relating to a
potential issuance of a new class of securities (which proposal provided for
holders of such securities to have certain voting rights with respect to the
election of directors). The Issuer rejected this proposal. The Reporting Persons
intend to continue to review their investment in the Shares and, from time to
time depending on certain factors, including without limitation the financial
performance of the Issuer, the availability and price of the Shares, other
general economic, market and investment conditions and options available to
them, may determine to acquire through open market purchases, negotiated
transactions or otherwise additional Shares, or may determine to sell through
the open market, in negotiated transactions or otherwise, in each case, subject
to applicable law. Except as stated above, no Reporting Person has any plans or
proposals of the type referred to in clauses (a) - (j) of Item 4 of Schedule 13D
as promulgated by the Securities and Exchange Commission.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a)
Michael G. Stout and Shelley L. Stout
The aggregate number of shares of the Issuer that Michael G. Stout and
Shelley L. Stout own beneficially, pursuant to Rule 13d-3 of the Act, is
375,770, which constitutes approximately 8.15% of the Shares based on
information provided by the Issuer.
James F. Stout and Bonnie G. Stout
The aggregate number of shares of the Issuer that James F. Stout and Bonnie
G. Stout owns beneficially, pursuant to Rule 13d-3 of the Act, is 14,107, which
constitutes approximately 0.31% of the Shares based on information provided by
the Issuer.
Jaymie L. Berg
The aggregate number of shares of the Issuer that Jaymie L. Berg owns
beneficially, pursuant to Rule 13d-3 of the Act, is 13,500, which constitutes
approximately 0.29% of the Shares based on information provided by the Issuer.
Julie A. Stout
The aggregate number of shares of the Issuer that Julie A. Stout owns
beneficially, pursuant to Rule 13d-3 of the Act, is 5,000, which constitutes
approximately 0.11% of the Shares based on information provided by the Issuer.
William B. Scott
The aggregate number of shares of the Issuer that William B. Scott owns
beneficially, pursuant to Rule 13d-3 of the Act, is 23,163, which constitutes
approximately 0.50% of the Shares based on information provided by the Issuer.
(b)
Michael G. Stout and Shelley L. Stout
Michael G. Stout and Shelley L. Stout have shared power to vote or direct
the vote of 320,000 Shares, and to dispose or direct the disposition of 375,770
Shares.
James F. Stout and Bonnie G. Stout
James F. Stout and Bonnie G. Stout have the shared power to vote or direct
the vote of 14,107 Shares, and to dispose or direct the disposition of 14,107
Shares.
Jaymie L. Berg
Jaymie L. Berg has the sole power to vote or to direct the vote of 13,500
Shares and has shared power to dispose or direct the disposition of 13,500
Shares.
Julie A. Stout
Julie A. Stout has the sole power to vote or to direct the vote of 5,000
Shares and has shared power to dispose or direct the disposition of 5,000
Shares.
William B. Scott
William B. Scott has the sole power to vote or to direct the vote of 23,163
Shares and has shared power to dispose or direct the disposition of 23,163
Shares.
(c) The Reporting Persons purchased Shares in a private transaction with
Francis W. LeMay, Cynthia F. Whitaker and Anne K. Menefee in the following
amounts on February 10, 1999:
<TABLE>
<CAPTION>
Reporting Person Transaction Date Number of Shares Price per Share
Purchased
<S> <C> <C> <C>
Michael G. Stout and 2/10/99 105,000 $7.00
Shelley L. Stout
James F. and Bonnie G. Stout 2/10/99 13,107 $7.00
Jaymie L. Berg 2/10/99 12,500 $7.00
Julie A. Stout 2/10/99 5,000 $7.00
William B. Scott 2/10/99 14,163 $7.00
</TABLE>
The Reporting Persons have effected no other transactions in the Shares in
the period from December 10, 1999 through February 10, 1999.
(d-e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
The Reporting Persons maintain separate households but have family
relationships that form the basis for an understanding about their shared
investment power over the Shares with Michael G. Stout. As indicated in Item 5,
the Reporting Persons do not have an understanding with Michael G. Stout with
respect to voting the Shares. James F. Stout and Bonnie G. Stout are the parents
of Michael G. Stout and Jaymie L. Berg and Julie A. Stout are his sisters.
William B. Scott is the father of Shelley L. Stout.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
(1) Joint Filing Agreement
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, each
of the undersigned certifies that the information set forth in this Statement is
true, complete and correct.
Dated: February 17, 1999
By /s/ Michael G. Stout
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Name: Michael G. Stout
By /s/ Shelly L. Stout
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Name: Shelley L. Stout
By /s/ James F. Stout
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Name: James F. Stout
By /s/ Bonnie G. Stout
--------------------
Name: Bonnie G. Stout
By /s/ Jaymie L. Berg
--------------------
Name: Jaymie L. Berg
By /s/ Julie A. Stout
--------------------
Name: Julie A. Stout
By /s/ William B. Scott
--------------------
Name: William B. Scott
<PAGE>
EXHIBIT INDEX
EXHIBIT
NUMBER EXHIBIT NAME
- ------ ------------
(1) Joint Filing Agreement
<PAGE>
Exhibit 1
Joint Filing Agreement
----------------------
In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934, as
amended, the undersigned hereby agree to the joint filing with each other of a
statement on Schedule 13D (including all amendments thereto) (the "Statement")
with respect to the Common Stock, no par value, of Union Acceptance Corporation,
an Indiana corporation, and further agree that this Joint Filing Agreement be
included as an exhibit to such Statement. In evidence whereof, the undersigned,
being duly authorized, hereby execute this Joint Filing Agreement as of this
17th day of February, 1999.
By /s/ Michael G. Stout
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Name: Michael G. Stout
By /s/ Shelly L. Stout
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Name: Shelley L. Stout
By /s/ James F. Stout
--------------------
Name: James F. Stout
By /s/ Bonnie G. Stout
--------------------
Name: Bonnie G. Stout
By /s/ Jaymie L. Berg
--------------------
Name: Jaymie L. Berg
By /s/ Julie A. Stout
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Name: Julie A. Stout
By /s/ William B. Scott
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Name: William B. Scott
