<PAGE> 1
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 2
TO
SCHEDULE 14D-9/A
SOLICITATION/RECOMMENDATION STATEMENT PURSUANT TO
SECTION 14(d)(4) OF THE SECURITIES EXCHANGE ACT OF 1934
SMARTFLEX SYSTEMS, INC.
(NAME OF SUBJECT COMPANY)
SMARTFLEX SYSTEMS, INC.
(NAME OF PERSON(S) FILING STATEMENT)
COMMON STOCK, $.0025 PAR VALUE
(TITLE OF CLASS OF SECURITIES)
83169K108
((CUSIP) NUMBER OF CLASS OF SECURITIES)
WILLIAM L. HEALEY
PRESIDENT, CHIEF EXECUTIVE OFFICER AND
CHAIRMAN OF THE BOARD
14312 FRANKLIN AVENUE
TUSTIN, CALIFORNIA 92781
(714) 838-8737
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICE AND COMMUNICATIONS
ON BEHALF OF THE PERSON(S) FILING STATEMENT)
COPIES TO:
NICK E. YOCCA, ESQ.
STRADLING, YOCCA, CARLSON & RAUTH
660 NEWPORT CENTER DRIVE, SUITE 1600
NEWPORT BEACH, CALIFORNIA 92660
(949) 725-4000
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE> 2
This Amendment No. 2 amends Items 8 and 9 of the
Solicitation/Recommendation Statement on Schedule 14D-9 (as amended, the
"Schedule 14D-9") of SMARTFLEX SYSTEMS, INC., a Delaware corporation (the
"Company"), filed with the Securities and Exchange Commission on July 14, 1999,
relating to a tender offer by SSI Acquisition Corp., a Delaware corporation (the
"Purchaser"), a wholly-owned subsidiary of Saturn Electronics & Engineering,
Inc., a Michigan corporation ("Saturn"), for all of the outstanding shares of
Common Stock, $.0025 par value, of the Company. Unless otherwise stated herein,
the capitalized terms used but not defined herein shall have the same meaning as
set forth in the Schedule 14D-9.
ITEM 8. ADDITIONAL INFORMATION TO BE FURNISHED.
(a) Each of the Company's directors and executive officers who are parties
to the Stockholder Agreements filed a Statement on Schedule 13D. The Statement
on Schedule 13D is incorporated by reference.
ITEM 9. MATERIAL TO BE FILED AS EXHIBITS.
20 Statement on Schedule 13D (without exhibits).
1
<PAGE> 3
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.
SMARTFLEX SYSTEMS, INC.
/s/ WILLIAM L. HEALEY
--------------------------------------
Name: William L. Healey
Title: Chairman of the Board,
President
and Chief Executive Officer
Date: July 26, 1999
2
<PAGE> 4
EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT
NUMBER DESCRIPTION
- ------- -----------
<C> <S>
20 Statement on Schedule 13D (without exhibits)
</TABLE>
<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
SMARTFLEX SYSTEMS, INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
83169K108
(CUSIP Number)
WILLIAM L. HEALEY
PRESIDENT, CHIEF EXECUTIVE OFFICER AND
CHAIRMAN OF THE BOARD
14312 FRANKLIN AVENUE
TUSTIN, CALIFORNIA 92781
TELEPHONE: (714) 838-8737
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
COPIES TO:
NICK E. YOCCA, ESQ.
STRADLING YOCCA CARLSON & RAUTH
660 NEWPORT CENTER DRIVE, SUITE, 1600
NEWPORT BEACH, CA 92660
TELEPHONE: (949) 725-4000
JULY 14, 1999
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed 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(e), 13d-1(f) or 13d-1(g), check the following
box. / /
<PAGE> 2
SCHEDULE 13D
- ---------------------
CUSIP NO. 83169K108
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
William L. Healey ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
250,379
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY --
OWNED BY -------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 250,379
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
250,379
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 2 of 18 Pages
<PAGE> 3
SCHEDULE 13D
- ---------------------
CUSIP NO. 83169K108
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
William E. Bendush ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
17,875
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY --
OWNED BY -------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 17,875
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,875
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 3 of 18 Pages
<PAGE> 4
SCHEDULE 13D
- ---------------------
CUSIP NO. 83169K108
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Alan V. King ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
21,875
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY --
OWNED BY -------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 21,875
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,875
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 4 of 18 Pages
<PAGE> 5
SCHEDULE 13D
- ---------------------
CUSIP NO. 83169K108
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
William A. Klein ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
15,875
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY --
OWNED BY -------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 15,875
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,875
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 5 of 18 Pages
<PAGE> 6
SCHEDULE 13D
- ---------------------
CUSIP NO. 83169K108
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gary E. Liebl ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
15,875
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY --
OWNED BY -------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 15,875
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,875
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 6 of 18 Pages
<PAGE> 7
SCHEDULE 13D
- ---------------------
CUSIP NO. 83169K108
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Anthony R.W. Richardson ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
26,375
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY --
OWNED BY -------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 26,375
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
26,375
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 7 of 18 Pages
<PAGE> 8
SCHEDULE 13D
- ---------------------
CUSIP NO. 83169K108
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John W. Hohener ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
57,113
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY --
OWNED BY -------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 57,113
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
57,113
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 8 of 18 Pages
<PAGE> 9
SCHEDULE 13D
- ---------------------
CUSIP NO. 83169K108
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Richard D. Bell ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
75,649
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY --
OWNED BY -------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 75,649
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
75,649
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 9 of 18 Pages
<PAGE> 10
SCHEDULE 13D
- ---------------------
CUSIP NO. 83169K108
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James Cogan
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY --
OWNED BY -------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 10 of 18 Pages
<PAGE> 11
SCHEDULE 13D
- ---------------------
CUSIP NO. 83169K108
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Christopher Rollison ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
50,292
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY --
OWNED BY -------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 50,292
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
50,292
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 11 of 18 Pages
<PAGE> 12
SCHEDULE 13D
- ---------------------
CUSIP NO. 83169K108
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Cheryl Moreno ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
3,500
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY --
OWNED BY -------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 3,500
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,500
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
Page 12 of 18 Pages
<PAGE> 13
INTRODUCTORY STATEMENT REGARDING TENDER OFFER OF SHARES OF
SMARTFLEX SYSTEMS INC,. -- CUSIP NUMBER 83169K108
SCHEDULE 13D
On July 6, 1999, SSI Acquisition Corp., a Delaware corporation ("SSI")
and Saturn Electronics and Engineering, Inc., a Michigan corporation (the
"Parent") entered into an Agreement and Plan of Merger (the "Merger Agreement")
with Smartflex Systems, Inc., a Delaware Corporation (the "Company") under which
SSI would tender for all of the issued and outstanding shares of common stock of
the Company (the "Shares"). SSI and Parent entered into a Stock Tender and
Voting Agreement with each of the directors and executive officers of the
Company (all of whom are reporting persons filing this Schedule 13D) which
provided generally that such director or officer would tender his or her shares
within 10 days following commencement of the tender offer and would vote their
shares in favor of the merger of SSI with and into the Company. The Company
believes each of the directors and officers of the Company acted independently
and anticipated that the effectiveness of their respective obligations under the
Stock Tender and Voting Agreement should be conditioned upon commencement of a
tender offer in accordance with the Merger Agreement. The Company also believes
that the directors and officers did not comprise a "group" as defined in Rule
13d-5(b)(1) of the Securities Exchange Act of 1934 (the "Exchange Act") because
each of the directors and officers entered into a Stock Tender and Voting
Agreement severally with SSI and Parent and did not enter into any agreement
with the other directors and/or officers of the Company. Further, none of the
Company's executive officers' or directors' obligations under their respective
Stock Tender and Voting Agreements are conditioned upon, or are related to, the
performance by any other of the Company's executive officers or directors of the
obligations under their respective Stock Tender and Voting Agreements. If a
group was formed within the definition of Rule 13d-5(b)(1) the Company believes
that the group would have been formed only upon the commencement of the tender
offer which occurred on July 14, 1999.
Each of the directors and officers of the Company filing this Schedule
13D is doing so as a precautionary measure but does not concede that he or she
is a member of a group or that this Statement is required under Regulation 13D
of the Exchange Act. The Company believes that if this Statement is required,
the commencement time of the 10-day period referenced in Rule 13d-1(a) would be
concurrent with the tender offer on July 14, 1999.
The filing of this Schedule 13D shall not be construed as an admission
that the individuals signing herein are the beneficial owners of any securities
covered by this Schedule 13D.
ITEM 1. SECURITY AND ISSUER
The class of equity securities to which this statement on Schedule 13D
(the "Statement") relates is the common stock, par value $.0025 per share (the
"Common Stock"), of Smartflex Systems, Inc., a Delaware corporation (the
"Company"). The principal executive offices of the Company are located at 14312
Franklin Avenue, Tustin, California 92781.
ITEM 2. IDENTITY AND BACKGROUND
This Statement is filed on behalf of the potential members of a group
within the meaning of Rule 13d-5(b)(1) under the Securities Exchange Act of 1934
listed below (the "Individuals"). The name, business address, present principal
occupation or employment and the name, principal business and address of the
corporation in which such employment is conducted are set forth below for each
Individual.
Page 13 of 18 Pages
<PAGE> 14
<TABLE>
<CAPTION>
NAME BUSINESS ADDRESS PRESENT PRINCIPAL OCCUPATION
<S> <C> <C>
William L. Healey Smartflex Systems, Inc. President and Chief Executive
14312 Franklin Avenue Officer and Chairman of the Board
P.O. Box 2085
Tustin, CA 92781-2085
William E. Bendush Applied Microcircuits Director
Corporation
6290 Sequence Drive
San Diego, CA 92121-4358
Alan V. King Voltera Semiconductor Director
Corporation
42840 Christy Street
Suite 202
Fremont, CA 94538
William A. Klein Smartflex Systems, Inc. Director
14312 Franklin Avenue
P.O. Box 2085
Tustin, CA 92781-2085
Gary E. Liebl 1082 Country Hills Drive Director
Santa Ana, CA 92705
Anthony R.W. Richardson Smartflex Systems, Inc. Executive Vice President and Chief
14312 Franklin Avenue Operating Officer
P.O. Box 2085
Tustin, CA 92781-2085
John W. Hohener Smartflex Systems, Inc. Vice President, Chief Financial
14312 Franklin Avenue Officer and Treasurer
P.O. Box 2085
Tustin, CA 92781-2085
Richard D. Bell Smartflex Systems, Inc. Vice President of Worldwide Sales
14312 Franklin Avenue
P.O. Box 2085
Tustin, CA 92781-2085
James Cogan Smartflex Systems, Inc. Vice President and General Manager
14312 Franklin Avenue of the EMS Business Unit
P.O. Box 2085
Tustin, CA 92781-2085
Christopher Rollison Smartflex Systems, Inc. Vice President and General Manager
14312 Franklin Avenue of the Advanced Interconnect
P.O. Box 2085 Business Unit
Tustin, CA 92781-2085
</TABLE>
Page 14 of 18 Pages
<PAGE> 15
<TABLE>
<CAPTION>
<S> <C> <C>
Cheryl Moreno Smartflex Systems, Inc. Vice President of Human Resources
14312 Franklin Avenue
P.O. Box 2085
Tustin, CA 92781-2085
</TABLE>
During the last five years, none of the Individuals has been convicted
of any criminal proceeding (excluding traffic violations or similar
misdemeanors).
During the last five years, none of the Individuals has been a party
to a civil proceeding of a judicial or administrative body of competent
jurisdiction as the result of which such person was or is subject to, federal or
state securities laws or finding any violation with respect to such laws.
Each of the Individuals is a citizen of the United States of America.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
No funds or other consideration changed hands as there was no purchase
or sale of securities.
ITEM 4. PURPOSE OF TRANSACTION
The purpose of each Stock Tender and Voting Agreement was to have the
Individual aid SSI Acquisition Corp., a Delaware corporation, ("SSI") in its
purchase of all of the outstanding shares of the Company (the "Tender Offer").
Pursuant to the Stock Tender and Voting Agreements, each Individual has agreed
to tender all shares of common stock of the Company beneficially owned by them
(the "Shares") pursuant to the Tender Offer within 10 business days of
commencement of the Tender Offer. Each Individual agreed to vote the Shares in
favor of the merger of SSI with and into the Company and agreed to not take
certain specified actions which would impede the proposed merger. Furthermore,
each Individual delivered an irrevocable proxy to SSI's parent corporation,
Saturn Electronic & Engineering, Inc. (the "Parent"), pursuant to which each
Individual irrevocably appoints Wallace K. Tsuha, Jr., Jereen G. Trudell and
Parent to exercise the proxy to vote the Shares in favor of the merger of SSI
with and into the Company. Such proxies shall remain in effect until termination
of the Agreement and Plan of Merger dated July 6, 1999, by and among the
Company, SSI and the Parent (the "Merger Agreement") or the Effective Time (as
defined in the Merger Agreement).
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
The information required by paragraphs (a) and (b) of this Item 5 is
set forth in Items 7-13 of the cover page to this Statement for each Individual,
which information is incorporated herein by reference.
On June 24, 1999 and effective May 18, 1999, William L. Healey, the
Company's President, Chief Executive Officer and Chairman of the Board of
Directors, terminated and waived all of his rights under the Stock Option
Agreement between the Company and Mr. Healey dated January 14, 1997. Such Stock
Option Agreement provided for the grant of options to Mr. Healey to purchase
35,000 Shares at an exercise price of $16.50 per share.
On May 19, 1999, the Company's non-employee directors, William E.
Bendush, Alan V. King, William A. Klein and Gary E. Liebl, each received an
automatic grant of non-qualified stock options to purchase 3,000 Shares at an
exercise price of $3.50 per Share. Such options are automatically granted to
non-employee directors of the Company each time such directors are reelected to
the Board of Directors.
Each of William L. Healey, Anthony R.W. Richardson, Christopher J.
Rollison and James Cogan are participants in the Company's 1995 Employee Stock
Purchase Plan. On May 1, 1999, Messrs. Healey, Richardson and Rollison each
purchased 1,000 Shares at a price of $2.92 per Share, pursuant to the Company's
1995 Employee Stock Purchase Plan (Mr. Cogan had not yet become a participant in
the 1995 Employee Stock Purchase Plan as of such date).
Paragraphs (d) and (e) of this Item 5 are inapplicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
See summary of the Stock Tender and Voting Agreements in Item 4 above.
Page 15 of 18 Pages
<PAGE> 16
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
<TABLE>
<S> <C>
Exhibit 1 Agreement and Plan of Merger dated as of July 6, 1999 by and
among Parent, Purchaser and the Company.
Exhibit 2 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and William L. Healey.
Exhibit 3 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and William E. Bendush.
Exhibit 4 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and Alan V. King.
Exhibit 5 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and William A. Klein.
Exhibit 6 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and Gary E. Liebl.
Exhibit 7 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and Anthony R.W. Richardson.
Exhibit 8 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and John W. Hohener.
Exhibit 9 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and Richard D. Bell.
Exhibit 10 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and James Cogan.
Exhibit 11 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and Christopher Rollison.
Exhibit 12 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and Cheryl Moreno.
</TABLE>
Page 16 of 18 Pages
<PAGE> 17
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: July 26, 1999
/s/ WILLIAM L. HEALEY
------------------------------------------
William L. Healey
/s/ WILLIAM E. BENDUSH
------------------------------------------
William E. Bendush
/s/ ALAN V. KING
------------------------------------------
Alan V. King
/s/ WILLIAM A. KLEIN
------------------------------------------
William A. Klein
/s/ GARY E. LIEBL
------------------------------------------
Gary E. Liebl
/s/ ANTHONY R.W. RICHARDSON
------------------------------------------
Anthony R.W. Richardson
/s/ JOHN W. HOHENER
------------------------------------------
John W. Hohener
/s/ RICHARD D. BELL
------------------------------------------
Richard D. Bell
/s/ JAMES COGAN
------------------------------------------
James Cogan
/s/ CHRISTOPHER ROLLISON
------------------------------------------
Christopher Rollison
/s/ CHERYL MORENO
------------------------------------------
Cheryl Moreno
Page 17 of 18 Pages
<PAGE> 18
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Exhibit No. Description
- ----------- -----------
<S> <C>
Exhibit 1 Agreement and Plan of Merger dated as of July 6, 1999 by and
among Parent, Purchaser and the Company.
Exhibit 2 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and William L. Healey.
Exhibit 3 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and William E. Bendush.
Exhibit 4 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and Alan V. King.
Exhibit 5 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and William A. Klein.
Exhibit 6 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and Gary E. Liebl.
Exhibit 7 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and Anthony R.W. Richardson.
Exhibit 8 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and John W. Hohener.
Exhibit 9 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and Richard D. Bell.
Exhibit 10 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and James Cogan.
Exhibit 11 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and Christopher Rollison.
Exhibit 12 Stock Tender and Voting Agreement dated as of July 6, 1999
by and among Parent, Purchaser and Cheryl Moreno.
</TABLE>
Page 18 of 18 Pages
