-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, D29pMS4TRYDqqLeEWCuqa47Tyw1y2gAl0BZbvCzZAO6WUF4WeGfA7vRVPl/jwv7j hmBygW9js+4c7TeHslyEDA== 0001193805-06-001145.txt : 20060504 0001193805-06-001145.hdr.sgml : 20060504 20060504173106 ACCESSION NUMBER: 0001193805-06-001145 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 20060504 DATE AS OF CHANGE: 20060504 GROUP MEMBERS: ADMIRAL ADVISORS, LLC GROUP MEMBERS: ARCADIA CAPITAL MANAGEMENT, LLC GROUP MEMBERS: ARCADIA PARTNERS, L.P. GROUP MEMBERS: BARINGTON CAPITAL GROUP, L.P. GROUP MEMBERS: BARINGTON COMPANIES ADVISORS, LLC GROUP MEMBERS: BARINGTON COMPANIES EQUITY PARTNERS, L.P. GROUP MEMBERS: BARINGTON COMPANIES INVESTORS, LLC GROUP MEMBERS: BARINGTON COMPANIES OFFSHORE FUND, LTD. GROUP MEMBERS: BARINGTON INVESTMENTS, L.P. GROUP MEMBERS: C4S & CO., L.L.C. GROUP MEMBERS: EDWARD TERINO GROUP MEMBERS: JAMES MITAROTONDA GROUP MEMBERS: JEFFREY C. SMITH GROUP MEMBERS: JEFFREY D. GLIDDEN GROUP MEMBERS: JEFFREY M. SOLOMON GROUP MEMBERS: JOHN MUTCH GROUP MEMBERS: LNA CAPITAL CORP. GROUP MEMBERS: MORGAN B. STARK GROUP MEMBERS: PARCHE, LLC GROUP MEMBERS: PETER A. COHEN GROUP MEMBERS: RAMIUS ADVISORS, LLC GROUP MEMBERS: RAMIUS CAPITAL GROUP, LLC GROUP MEMBERS: RAMIUS FUND III, LTD. GROUP MEMBERS: RAMIUS MASTER FUND, LTD. GROUP MEMBERS: RCG AMBROSE MASTER FUND, LTD. GROUP MEMBERS: RCG HALIFAX FUND, LTD. GROUP MEMBERS: RICHARD ROFE GROUP MEMBERS: STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD. GROUP MEMBERS: THOMAS W. STRAUSS GROUP MEMBERS: WILLIAM J. FOX SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: S1 CORP /DE/ CENTRAL INDEX KEY: 0001063254 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 582395199 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-54731 FILM NUMBER: 06809604 BUSINESS ADDRESS: STREET 1: 3500 LENOX ROAD STREET 2: SUITE 200 CITY: ATLANTA STATE: GA ZIP: 30326 BUSINESS PHONE: 4049233500 MAIL ADDRESS: STREET 1: 3500 LENOX ROAD STREET 2: SUITE 200 CITY: ATLANTA STATE: GA ZIP: 30326 FORMER COMPANY: FORMER CONFORMED NAME: SECURITY FIRST TECHNOLOGIES CORP DATE OF NAME CHANGE: 19980603 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: RAMIUS CAPITAL GROUP LLC CENTRAL INDEX KEY: 0001050154 IRS NUMBER: 133937658 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 666 THIRD AVENUE STREET 2: 26TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2128457900 MAIL ADDRESS: STREET 1: 666 THIRD AVENUE STREET 2: 26TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 SC 13D/A 1 e600536_sc13da-s1.txt AMENDMENT NO. 4 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 -------------- SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (Amendment No. 4)(1) S1 Corporation ---------------- (Name of Issuer) Common Stock, $.01 Par Value ------------------------------ (Title of Class of Securities) 78463B101 -------------- (CUSIP Number) STEVEN WOLOSKY, ESQ. OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP Park Avenue Tower 65 East 55th Street New York, New York 10022 (212) 451-2300 ------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) May 1, 2006 ------------------------------------------------------- (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 that 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 |_|. NOTE. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent. (Continued on following pages) (Page 1 of 48 Pages) - ---------- (1) 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 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). CUSIP No. 78463B101 13D Page 2 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 3,797,693 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 3,797,693 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,797,693 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 3 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) PARCHE, LLC 20-0870632 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 932,244 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 932,244 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 932,244 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.3% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 4 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) RCG AMBROSE MASTER FUND, LTD. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 128,674 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 128,674 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 128,674 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 5 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) RCG HALIFAX FUND, LTD. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 133,919 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 133,919 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 133,919 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 6 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) RAMIUS MASTER FUND, LTD. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 569,905 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 569,905 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 569,905 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 7 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) RAMIUS FUND III, LTD - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 33,055 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 33,055 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 33,055 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 8 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) ADMIRAL ADVISORS, LLC 37-1484525 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 4,729,937 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 4,729,937 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,729,937 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.7% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA, OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 9 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) RAMIUS ADVISORS, LLC 13-3954331 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 602,960 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 602,960 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 602,960 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA, OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 10 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) RAMIUS CAPITAL GROUP, L.L.C. 13-3937658 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 5,595,490 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 5,595,490 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,595,490 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA, OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 11 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) C4S & CO., L.L.C. 13-3946794 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 5,595,490 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 5,595,490 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,595,490 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 12 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) PETER A. COHEN - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -0- ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 5,595,490 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON -0- WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 5,595,490 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,595,490 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 13 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) MORGAN B. STARK - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -0- ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 5,595,490 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON -0- WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 5,595,490 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,595,490 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 14 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) JEFFREY M. SOLOMON - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -0- ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 5,595,490 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON -0- WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 5,595,490 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,595,490 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 15 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) THOMAS W. STRAUSS - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -0- ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 5,595,490 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON -0- WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 5,595,490 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,595,490 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 16 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BARINGTON COMPANIES EQUITY PARTNERS, L.P. 13-4088890 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 335,877 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 335,877 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 335,877 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 17 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BARINGTON COMPANIES INVESTORS, LLC 13-4126527 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 335,877 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 335,877 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 335,877 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 18 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BARINGTON COMPANIES OFFSHORE FUND, LTD. (BVI) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 508,515 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 508,515 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 508,515 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 19 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BARINGTON INVESTMENTS, L.P. 20-2871525 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 119,582 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 119,582 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 119,582 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 20 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BARINGTON COMPANIES ADVISORS, LLC 20-0327470 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 628,097 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 628,097 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 628,097 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA, OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 21 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BARINGTON CAPITAL GROUP, L.P. 13-3635132 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 New York - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 963,974 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 963,974 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 963,974 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 22 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) LNA CAPITAL CORP. 13-3635168 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 963,974 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 963,974 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 963,974 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 23 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) JAMES MITAROTONDA - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 963,974 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 963,974 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 963,974 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 24 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) ARCADIA PARTNERS, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 75,000 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 75,000 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 75,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 25 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) ARCADIA CAPITAL MANAGEMENT, LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 75,000 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 75,000 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 75,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 26 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) RICHARD ROFE - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 80,000 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 80,000 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 80,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 27 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) JEFFREY C. SMITH - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER - 0 - ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON - 0 - WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 28 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) JEFFREY D. GLIDDEN - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER - 0 - ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON - 0 - WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 29 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) WILLIAM J. FOX - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER - 0 - ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON - 0 - WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 30 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) EDWARD TERINO - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER - 0 - ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON - 0 - WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 31 of 48 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) JOHN MUTCH - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER - 0 - ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY - 0 - OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON - 0 - WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - 0 - - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 78463B101 13D Page 32 of 48 Pages The following constitutes Amendment No. 4 ("Amendment No. 4") to the Schedule 13D filed by the undersigned. This Amendment No. 4 amends the Schedule 13D as specifically set forth. Item 2 is hereby amended to add the following: In connection with the Settlement Agreement described and defined in Item 4, Starboard rescinded its nominations of Messrs. Smith, Fox, Terino, Mutch, Rofe and Glidden for election at the 2006 Annual Meeting (the "Annual Meeting"). Pursuant to the Settlement Agreement, the Issuer agreed to fix the size of the Issuer's Board at seven and to appoint Mr. Smith to the Board in the class of directors whose term expires at the 2008 annual meeting of stockholders. Accordingly, Messrs. Fox, Terino, Mutch, Rofe and Glidden are no longer members of the Section 13(d) group and shall cease to be Reporting Persons immediately after the filing of this Statement. Arcadia Partners and Arcadia Capital shall also cease to be Reporting Persons upon the filing of this Statement. The remaining Reporting Persons will continue filing as a group statements on Schedule 13D with respect to their beneficial ownership of securities of the Issuer to the extent required by applicable law. Ramius Fund III, Ltd ("Ramius Fund III") is hereby added as a Reporting Person to the Schedule 13D. Ramius Fund III is an exempted company organized under the laws of the Cayman Islands formed to be a private investment fund. The address of the principal business and principal office of Ramius Fund III is c/o Citco Fund Services (Cayman Islands) Limited, Corporate Center, West Bay Road, Grand Cayman, Cayman Islands, British West Indies. The officers and directors of Ramius Fund III and their respective principal occupations and business addresses are set forth on Schedule B and are incorporated by reference in this Item 2. Ramius Advisors serves as the investment manager for Ramius Fund III. The first paragraph of Item 3 is hereby amended and restated as follows: The Shares purchased by Starboard, Parche, RCG Ambrose, RCG Halifax, Ramius Master, Ramius Fund III, Barington Companies Equity, Barington Companies Offshore and Barington Investments were purchased with the working capital of such entities (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted, as set forth in Schedule A, which is incorporated by reference herein. The aggregate purchase cost of the 5,495,490 Shares beneficially owned in the aggregate by Starboard, Parche, RCG Ambrose, RCG Halifax, Ramius Master and Ramius Fund III is approximately $24,240,520.93, including brokerage commissions. The aggregate purchase cost of the 963,974 Shares beneficially owned in the aggregate by Barington Companies Equity, Barington Companies Offshore and Barington Investments is approximately $4,074,830.64, including brokerage commissions. The aggregate purchase cost of the 75,000 Shares beneficially owned in the aggregate by Arcadia Partners and Arcadia Capital is approximately $309,750, including brokerage commissions. The aggregate purchase cost of the 5,000 Shares owned personally by Mr. Rofe and purchased with Mr. Rofe's personal funds is approximately $8,829.94. CUSIP No. 78463B101 13D Page 33 of 48 Pages Item 4 is hereby amended to add the following: On May 3, 2006, the Reporting Persons and the Issuer (together, the "Parties") entered into a Settlement Agreement (the "Settlement Agreement"), a copy of which is attached hereto as Exhibit 12 and is incorporated herein by reference. Pursuant to the Settlement Agreement, Starboard agreed to rescind (i) notice of its intention to nominate Messrs Smith, Fox, Terino, Mutch, Rofe and Glidden for director at the Annual Meeting, (ii) notice of its intention to propose any other matters to come before the stockholders at the Annual Meeting and (iii) its demand to inspect certain records and lists regarding the Issuer's stockholders and certain other documents. Each Reporting Person also agreed to support the election of the persons nominated by the Board of Directors to stand for election at the Annual Meeting (the "Board Nominees") and to vote all Shares beneficially owned by the Reporting Persons in favor of the Board Nominees. The Issuer agreed that no later than the first business day after the execution of the Settlement Agreement the Issuer's Board shall meet (the "Board Meeting"), at which time it shall (i) fix the size of the Board of Directors at seven directors, (ii) appoint Mr. Smith to the Board in the class whose term expires at the 2008 annual meeting of stockholders, (iii) set a record date for 21 business days after the date of the Board Meeting for the Annual Meeting that will be held on or about June 30, 2006 and (iv) adopt an amendment to the Issuer's Amended and Restated Bylaws (the "Bylaws") to return the ability of stockholders holding at least one-tenth of the outstanding common stock of the Issuer to call a special meeting of stockholders. The Issuer further agreed that at the Board Meeting it shall immediately take all necessary and advisable actions to explore strategic alternatives available to the Issuer to maximize stockholder value, including instructing Friedman, Billings, Ramsey Group Inc. to take all appropriate steps to advise on strategic alternatives available to the Issuer. In the event a committee of the Issuer's Board takes responsibility for such exploration of strategic alternatives or related process, the Issuer agreed that such committee shall include Mr. Smith. From the date of the execution of the Settlement Agreement through September 30, 2006, the Issuer agreed that it will not (i) bring any proposals to the stockholders other than the election of the Board Nominees at the Annual Meeting and any other proposals which may be necessary in furtherance of any strategic alternative, (ii) take any action to amend the Issuer's Bylaws other than the bylaw amendment to allow stockholders to call special meetings or (iii) take any action to increase the size of the Board beyond seven members. The Reporting Persons agreed not to (i) solicit authority, directly or indirectly, from any stockholder of the Issuer to elect or vote for any candidate or candidates for election to the Board at the Annual Meeting other than the Board Nominees, (ii) present for consideration any candidates other than the Board Nominees in connection with the Annual Meeting, or any proposal for any action other than proposals or action which are made by the Board or (iii) engage in any campaign or efforts to have votes withheld from or otherwise campaign against any of the Board Nominees in connection with the Annual Meeting. From the date of the execution of the Settlement Agreement through and including September 30, 2006, the Reporting Persons further agreed not to (i) engage in any solicitation of proxies or consents, seek to advise, encourage or influence any person with respect to the voting of any securities of the Issuer, except in support of Board-approved proposals, (ii) initiate, propose or otherwise solicit stockholders of the Issuer for the approval of, stockholder proposals, (iii) induce or attempt to induce any other person to initiate any CUSIP No. 78463B101 13D Page 34 of 48 Pages such stockholder proposal or any attempt to call a special meeting of stockholders or (iv) form, join or in any way participate in any "group" with respect to any voting securities, other than a "group" that includes all or some lesser number of the persons identified as part of the Ramius Group as of the date hereof. In accordance with the Settlement Agreement, the Issuer issued on May 3, 2006 a press release announcing the execution of the Settlement Agreement, the form of which is attached hereto as Exhibit 13 and is incorporated herein by reference. No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon completion of any of the actions discussed above or Mr. Smith in his capacity as a director in carrying out his fiduciary duties to the Issuer. Item 5 is hereby amended and restated as follows: The aggregate percentage of Shares reported owned by each person named herein is based upon 70,503,355 Shares outstanding, which is the total number of Shares outstanding as reported in the Issuer's Preliminary Proxy Statement filed on Form PREC 14A with the Securities and Exchange Commission on April 11, 2006. A. Starboard (a) As of May 3, 2006, Starboard beneficially owned 3,797,693 Shares. Percentage: Approximately 5.4% (b) 1. Sole power to vote or direct vote: 3,797,693 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 3,797,693 4. Shared power to dispose or direct the disposition: 0 (c) Starboard has not acquired Shares since April 24, 2006. B. Parche (a) As of May 3, 2006, Parche beneficially owned 932,244 Shares. Percentage: Approximately 1.3% (b) 1. Sole power to vote or direct vote: 932,244 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 932,244 4. Shared power to dispose or direct the disposition: 0 (c) Parche has not acquired Shares since April 24, 2006. CUSIP No. 78463B101 13D Page 35 of 48 Pages C. RCG Ambrose (a) As of May 3, 2006, RCG Ambrose beneficially owned 128,674 Shares. Percentage: Less than 1% (b) 1. Sole power to vote or direct vote: 128,674 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 128,674 4. Shared power to dispose or direct the disposition: 0 (c) RCG Ambrose has not acquired Shares since April 24, 2006. D. RCG Halifax (a) As of May 3, 2006, RCG Halifax beneficially owned 133,919 Shares. Percentage: Less than 1% (b) 1. Sole power to vote or direct vote: 133,919 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 133,919 4. Shared power to dispose or direct the disposition: 0 (c) RCG Halifax has not acquired Shares since April 24, 2006. E. Ramius Master (a) As of May 3, 2006, Ramius Master beneficially owned 569,905 Shares. Percentage: Less than 1% (b) 1. Sole power to vote or direct vote: 569,905 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 569,905 4. Shared power to dispose or direct the disposition: 0 (c) Transactions in the Shares by Ramius Master since April 24, 2006 are set forth in Schedule A and are incorporated by reference. F. Ramius Fund III (a) As of May 3, 2006, Ramius Fund III beneficially owned 33,055 Shares. Percentage: Less than 1% (b) 1. Sole power to vote or direct vote: 33,055 CUSIP No. 78463B101 13D Page 36 of 48 Pages 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 33,055 4. Shared power to dispose or direct the disposition: 0 (c) Transactions in the Shares by Ramius Fund III since April 24, 2006 are set forth in Schedule A and are incorporated by reference. G. Admiral Advisors (a) As of May 3, 2006, as the investment manager of Starboard and the managing member of Parche, Admiral Advisors may be deemed the beneficial owner of (i) 3,797,693 Shares owned by Starboard and (ii) 932,244 Shares owned by Parche. Percentage: Approximately 6.7% (b) 1. Sole power to vote or direct vote: 4,729,937 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 4,729,937 4. Shared power to dispose or direct the disposition: 0 (c) Admiral Advisors has not entered into any transactions in the Shares since April 24, 2006. H. Ramius Advisors (a) As of May 3, 2006, as the investment advisor of Ramius Master and Ramius Fund III, Ramius Advisors may be deemed the beneficial owner of 569,905 Shares owned by Ramius Master and 33,055 Shares owned by Ramius Fund III. Percentage: Less than 1% (b) 1. Sole power to vote or direct vote: 602,960 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 602,960 4. Shared power to dispose or direct the disposition: 0 (c) Ramius Advisors has not entered into any transactions in the Shares since April 24, 2006. The transactions in the Shares since April 24, 2006 on behalf of Ramius Master and Ramius Fund III, which, except as otherwise noted, were all in the open market, are set forth in Schedule A, and are incorporated by reference. I. Ramius Capital (a) As of May 3, 2006, as the sole member of Admiral Advisors and Ramius Advisors (the investment manager of Ramius Master and Ramius Fund III) and as the investment manager of RCG Halifax and RCG Ambrose, Ramius Capital may be deemed the beneficial owner of (i) 3,797,693 shares owned by Starboard, (ii) 932,244 Shares owned by Parche, (iii) 128,674 Shares owned by RCG Ambrose, (iv) 133,919 Shares owned by RCG Halifax, (v) 569,905 Shares owned by Ramius Master and (vi) 33,055 Shares owned by Ramius Fund III. CUSIP No. 78463B101 13D Page 37 of 48 Pages Percentage: Approximately 7.9% (b) 1. Sole power to vote or direct vote: 5,595,490 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 5,595,490 4. Shared power to dispose or direct the disposition: 0 (c) Ramius Capital did not enter into any transactions in the Shares since April 24, 2006. J. C4S (a) As of May 3, 2006, as the managing member of Ramius Capital, C4S may be deemed the beneficial owner of (i) 3,797,693 shares owned by Starboard, (ii) 932,244 Shares owned by Parche, (iii) 128,674 Shares owned by RCG Ambrose, (iv) 133,919 Shares owned by RCG Halifax, (v) 569,905 Shares owned by Ramius Master and (vi) 33,055 Shares owned by Ramius Fund III. Percentage: Approximately 7.9% (b) 1. Sole power to vote or direct vote: 5,595,490 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 5,595,490 4. Shared power to dispose or direct the disposition: 0 (c) C4S did not enter into any transactions in the Shares since April 24, 2006. K. Mr. Cohen, Mr. Stark, Mr. Strauss and Mr. Solomon (a) As of May 3, 2006, as the managing members of C4S, each of Mr. Cohen, Mr. Stark, Mr. Strauss and Mr. Solomon may be deemed the beneficial owner of (i) 3,797,693 shares owned by Starboard, (ii) 932,244 Shares owned by Parche, (iii) 128,674 Shares owned by RCG Ambrose, (iv) 133,919 Shares owned by RCG Halifax, (v) 569,905 Shares owned by Ramius Master and (vi) 33,055 Shares owned by Ramius Fund III.. Each of Messrs. Cohen, Stark, Solomon and Strauss share voting and dispositive power with respect to the Shares owned by Starboard, Parche, RCG Ambrose, RCG Halifax, Ramius Master and Ramius Fund III by virtue of their shared authority to vote and dispose of such Shares. Messrs. Cohen, Stark, Solomon and Strauss disclaim beneficial ownership of such Shares. Percentage: Approximately 7.9% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 5,595,490 3. Sole power to dispose or direct the disposition: 0 CUSIP No. 78463B101 13D Page 38 of 48 Pages 4. Shared power to dispose or direct the disposition: 5,595,490 (c) None of Mr. Cohen, Mr. Stark, Mr. Strauss or Mr. Solomon have entered into any transactions in the Shares since April 24, 2006. L. Barington Companies Equity (a) As of May 3, 2006, Barington Companies Equity beneficially owned 335,877 Shares. Percentage: Less than 1% (b) 1. Sole power to vote or direct vote: 335,877 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 335,877 4. Shared power to dispose or direct the disposition: 0 (c) Barington Companies Equity did not enter into any transactions in the Shares since April 24, 2006. M. Barington Companies Investors (a) As of May 3, 2006, as the general partner of Barington Companies Equity, Barington Companies Investors may be deemed the beneficial owner of 335,877 Shares owned by Barington Companies Equity. Percentage: Less than 1% (b) 1. Sole power to vote or direct vote: 335,877 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 335,877 4. Shared power to dispose or direct the disposition: 0 (c) Barington Companies Investors did not enter into any transactions in the Shares since April 24, 2006. N. Barington Companies Offshore (a) As of May 3, 2006, Barington Companies Offshore beneficially owned 508,515 Shares. Percentage: Less than 1% (b) 1. Sole power to vote or direct vote: 508,515 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 508,515 4. Shared power to dispose or direct the disposition: 0 CUSIP No. 78463B101 13D Page 39 of 48 Pages (c) Barington Companies Offshore did not enter into any transactions in the Shares since April 24, 2006. O. Barington Investments (a) As of May 3, 2006, Barington Investments beneficially owned 119,582 Shares. Percentage: Less than 1% (b) 1. Sole power to vote or direct vote: 119,582 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 119,582 4. Shared power to dispose or direct the disposition: 0 (c) Barington Investments did not enter into any transactions in the Shares since April 24, 2006. P. Barington Companies Advisors (a) As of May 3, 2006, as the investment advisor of Barington Companies Offshore and the general partner of Barington Investments, Barington Companies Advisors may be deemed the beneficial owner of (i) 508,515 Shares owned by Barington Companies Offshore and (ii) 119,582 Shares owned by Barington Investments. Percentage: Less than 1% (b) 1. Sole power to vote or direct vote: 628,097 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 628,097 4. Shared power to dispose or direct the disposition: 0 (c) Barington Companies Advisors did not enter into any transactions in the Shares since April 24, 2006. Q. Barington Capital (a) As of May 3, 2006, as the majority member of Barington Companies Investors and the Managing Member of Barington Companies Advisors, Barington Capital may be deemed the beneficial owner of (i) 508,515 Shares owned by Barington Companies Offshore, (ii) 335,877 Shares owned by Barington Companies Equity and (iii) 119,582 Shares owned by Barington Investments. Percentage: Approximately 1.4% (b) 1. Sole power to vote or direct vote: 963,974 2. Shared power to vote or direct vote: 0 CUSIP No. 78463B101 13D Page 40 of 48 Pages 3. Sole power to dispose or direct the disposition: 963,974 4. Shared power to dispose or direct the disposition: 0 (c) Barington Capital did not enter into any transactions in the Shares since April 24, 2006. R. LNA (a) As of May 3, 2006, as the general partner of Barington Capital, LNA may be deemed the beneficial owner of (i) 508,515 Shares owned by Barington Companies Offshore, (ii) 335,877 Shares owned by Barington Companies Equity and (iii) 119,582 Shares owned by Barington Investments. Percentage: Approximately 1.4% (b) 1. Sole power to vote or direct vote: 963,974 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 963,974 4. Shared power to dispose or direct the disposition: 0 (c) LNA did not enter into any transactions in the Shares since April 24, 2006. S. Mr. Mitarotonda (a) As of May 3, 2006, as the sole stockholder and director of LNA Capital Corp., Mr. Mitarotonda may be deemed the beneficial owner of (i) 335,877 Shares owned by Barington Companies Equity, (ii) 508,515 Shares owned by Barington Companies Offshore and (iii) 119,582 Shares owned by Barington Investments. Mr. Mitarotonda disclaims beneficial ownership of such Shares. Percentage: Approximately 1.4% (b) 1. Sole power to vote or direct vote: 963,974 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 963,974 4. Shared power to dispose or direct the disposition: 0 (c) Mr. Mitarotonda did not enter into any transactions in the Shares since April 24, 2006. The number of Shares acquired by Barington Companies Equity, Barington Companies Offshore and Barington Investments since April 24, 2006 are set forth in Schedule A and are incorporated by reference. T. Arcadia Partners (a) As of May 3, 2006, Arcadia Partners beneficially owned 75,000 Shares. Percentage: Less than 1% CUSIP No. 78463B101 13D Page 41 of 48 Pages (b) 1. Sole power to vote or direct vote: 75,000 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 75,000 4. Shared power to dispose or direct the disposition: 0 (c) Arcadia Partners did not enter into any transactions in the Shares since April 24, 2006. U. Arcadia Capital (a) As of May 3, 2006, as the general partner of Arcadia Partners, Arcadia Capital may be deemed the beneficial owner of 75,000 Shares owned by Arcadia Partners. Percentage: Less than 1% (b) 1. Sole power to vote or direct vote: 75,000 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 75,000 4. Shared power to dispose or direct the disposition: 0 (c) Arcadia Capital did not enter into any transactions in the Shares since April 24, 2006. V. Mr. Rofe (a) As of May 3, 2006, as the sole member of Arcadia Capital, Mr. Rofe may be deemed the beneficial owner of 75,000 Shares owned by Arcadia Partners. Mr. Rofe disclaims beneficial ownership of such Shares. In addition, Mr. Rofe personally owns 5,000 Shares. Percentage: Less than 1% (b) 1. Sole power to vote or direct vote: 77,138 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 77,138 4. Shared power to dispose or direct the disposition: 0 (c) Mr. Rofe Starboard has not acquired additional Shares since April 24, 2006. (d) No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, such shares of the Common Stock. (e) Not applicable. W. Messrs. Smith, Glidden, Terino, Mutch and Fox do not currently beneficially own any Shares. CUSIP No. 78463B101 13D Page 42 of 48 Pages The Reporting Persons do not believe that certain of the foregoing information is called for by the Items of Schedule 13D and are disclosing it for supplemental informational purposes only. Item 6 is hereby amended to add the following: On May 4, 2006, Starboard, Parche, RCG Ambrose, RCG Halifax, Ramius Master, Ramius Fund III, Admiral Advisors, Ramius Advisors, Ramius Capital, C4S, Mr. Cohen, Mr. Solomon, Mr. Stark, Mr. Strauss, Barington Companies Equity, Barington Companies Investors, Barington Companies Offshore, Barington Investments, Barington Companies Advisors, Barington Capital, LNA, Mr. Mitarotonda and Mr. Smith entered into a Joint Filing Agreement (the "Joint Filing Agreement") in which the parties agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable law. The Joint Filing Agreement is attached as Exhibit 14 hereto and is incorporated herein by reference. Reference is made to the Settlement Agreement defined and described in Item 4. Item 7 is hereby amended to include the following exhibits: 12. Settlement Agreement by and between S1 Corporation, on the one hand, and each of Starboard Value and Opportunity Master Fund Ltd., Ramius Master Fund, Ltd, Ramius Fund III, Ltd, Parche, LLC, RCG Ambrose Master Fund, Ltd., RCG Halifax Fund, Ltd., C4S & Co., L.L.C., Admiral Advisors, LLC, Ramius Advisors, LLC, Ramius Capital Group, L.L.C., Morgan B. Stark, Peter A. Cohen, Jeffrey M. Solomon, Thomas W. Strauss, Barington Companies Equity Partners, L.P., James A. Mitarotonda, Barington Companies Investors, LLC, Barington Companies Offshore Fund, Ltd. (BVI), Barington Investments, L.P., Barington Companies Advisors, LLC, Barington Capital Group, L.P., LNA Capital Corp., Arcadia Partners, L.P., Arcadia Capital Management, LLC, William J. Fox, Jeffrey C. Smith, Jeffrey Glidden, Richard Rofe, Edward Terino and John Mutch, dated May 3, 2006. 13. Press release, dated May 3, 2006. 14. Joint Filing Agreement, dated May 4, 2006. CUSIP No. 78463B101 13D Page 43 of 48 Pages SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: May 4, 2006 STARBOARD VALUE AND RAMIUS MASTER FUND, LTD OPPORTUNITY MASTER FUND LTD. By: Ramius Advisors, LLC its investment manager PARCHE, LLC By: Ramius Capital Group, L.L.C. By: Admiral Advisors, LLC, its managing member its managing member ADMIRAL ADVISORS, LLC RCG AMBROSE MASTER FUND, LTD. By: Ramius Capital Group, L.L.C., By: Ramius Capital Group, L.L.C., its managing member its investment manager By: C4S & Co., L.L.C., RAMIUS ADVISORS, LLC its managing member By: Ramius Capital Group, L.L.C., its managing member RCG HALIFAX FUND, LTD. By: Ramius Capital Group, L.L.C., RAMIUS CAPITAL GROUP, L.L.C. its investment manager By: C4S & Co., L.L.C., By: C4S & Co., L.L.C., as managing member its managing member C4S & CO., L.L.C. RAMIUS FUND III, LTD By: Ramius Advisors, LLC its investment manager By: Ramius Capital Group, LLC its managing member By: /s/ Morgan B. Stark --------------------------- Name: Morgan B. Stark Title: Authorized Signatory MORGAN B. STARK /s/ MORGAN B. STARK - --------------------------------- Individually and as attorney-in-fact for Peter A. Cohen, Jeffrey M. Solomon and Thomas W. Strauss CUSIP No. 78463B101 13D Page 44 of 48 Pages BARINGTON COMPANIES EQUITY PARTNERS, L.P. By: Barington Companies Investors, LLC, its general partner By: /s/ James A. Mitarotonda -------------------------------- Name: James A. Mitarotonda Title: Managing Member BARINGTON COMPANIES INVESTORS, LLC By: /s/ James A. Mitarotonda -------------------------------- Name: James A. Mitarotonda Title: Managing Member /s/ James A. Mitarotonda - --------------------------------- James A. Mitarotonda BARINGTON COMPANIES OFFSHORE FUND, LTD. (BVI) By: /s/ James A. Mitarotonda -------------------------------- Name: James A. Mitarotonda Title: President BARINGTON INVESTMENTS, L.P. By: Barington Companies Advisors, LLC, its general partner By: /s/ James A. Mitarotonda -------------------------------- Name: James A. Mitarotonda Title: Authorized Signatory BARINGTON COMPANIES ADVISORS, LLC By: /s/ James A. Mitarotonda -------------------------------- Name: James A. Mitarotonda Title: Authorized Signatory BARINGTON CAPITAL GROUP, L.P. By: LNA Capital Corp., its general partner By: /s/ James A. Mitarotonda -------------------------------- Name: James A. Mitarotonda Title: President and Chief Executive Officer CUSIP No. 78463B101 13D Page 45 of 48 Pages LNA CAPITAL CORP. By: /s/ James A. Mitarotonda -------------------------------- Name: James A. Mitarotonda Title: President and Chief Executive Officer ARCADIA PARTNERS, L.P. By: Arcadia Capital Management, LLC, its general partner By: /s/ Jeffrey C. Smith -------------------------------- Jeffrey C. Smith, as attorney-in-fact for Richard Rofe, Sole Member ARCADIA CAPITAL MANAGEMENT, LLC By: /s/ Jeffrey C. Smith -------------------------------- Jeffrey C. Smith, as attorney-in-fact for Richard Rofe, Sole Member /s/ William J. Fox - --------------------------------- William J. Fox JEFFREY C. SMITH /s/ JEFFREY C. SMITH - --------------------------------- Individually and as attorney-in-fact for Jeffrey Glidden, Richard Rofe, Edward Terino and John Mutch CUSIP No. 78463B101 13D Page 46 of 48 Pages EXHIBIT INDEX 12. Settlement Agreement, dated May 3, 2006. Exhibit 99.1 13. Press release, dated May 3, 2006. Exhibit 99.2 14. Joint Filing Agreement, dated May 4, 2006. Exhibit 99.3 CUSIP No. 78463B101 13D Page 47 of 48 Pages SCHEDULE A Transactions in the Shares Since April 24, 2006 Shares of Common Stock Price Per Date of Purchased / (Sold) Share($) Purchase / Sale RAMIUS FUND III 33,055 5.1700(1) 5/1/06 RAMIUS MASTER (33,055) 5.1700(2) 5/1/06 - ---------- (1) The shares reported as acquired by Ramius Fund III, Ltd and sold by Ramius Master Fund, Ltd. were acquired by Ramius Fund III, Ltd from Ramius Master Fund, Ltd. as a distribution in kind on May 1, 2006. The price per unit for these 33,055 shares on the date of distribution was $5.1700. CUSIP No. 78463B101 13D Page 48 of 48 Pages SCHEDULE B Directors and Officers of Ramius Fund III
Name and Position Principal Occupation Principal Business Address - ----------------- -------------------- -------------------------- Morgan B. Stark Managing Member of C4S & Co., LLC, 666 Third Avenue Director which is the Managing Member of Ramius 26th Floor Capital Group, LLC New York, New York 10017 Marran Ogilvie General Counsel of Ramius Capital 666 Third Avenue Director Group, LLC 26th Floor New York, New York 10017 CFS Company Ltd. Nominee Company registered with Cayman c/o Citco Fund Services (Cayman Director Islands Monetary Authority and is Islands) Limited affiliated with Administrator of the Corporate Center Fund West Bay Road Grand Cayman, Cayman Islands British West Indies CFS Corporation Ltd. Affiliate of the Administrator of the c/o Citco Fund Services (Cayman Secretary Fund Islands) Limited Corporate Center West Bay Road Grand Cayman, Cayman Islands British West Indies
EX-99.1 2 e600536_ex99-1.txt SETTLEMENT AGREEMENT AGREEMENT This Agreement (the "Agreement") is entered into this 3rd day of May, 2006, by and between S1 Corporation, a Delaware corporation ("S1" or the "Company"), on the one hand, and each of Starboard Value and Opportunity Master Fund Ltd., Ramius Master Fund, Ltd, Ramius Fund III, Ltd, Parche, LLC, RCG Ambrose Master Fund, Ltd., RCG Halifax Fund, Ltd., C4S & Co., L.L.C., Admiral Advisors, LLC, Ramius Advisors, LLC, Ramius Capital Group, L.L.C., Morgan B. Stark, Peter A. Cohen, Jeffrey M. Solomon, Thomas W. Strauss, Barington Companies Equity Partners, L.P., James A. Mitarotonda, Barington Companies Investors, LLC, Barington Companies Offshore Fund, Ltd. (BVI), Barington Investments, L.P., Barington Companies Advisors, LLC, Barington Capital Group, L.P., LNA Capital Corp., Arcadia Partners, L.P., Arcadia Capital Management, LLC, William J. Fox, Jeffrey C. Smith, Jeffrey Glidden, Richard Rofe, Edward Terino and John Mutch (collectively, the "Ramius Group"), on the other hand. For purposes of this Agreement, the Ramius Group shall also include all parties (and their affiliates) to the Schedule 13D with respect to Company common stock of any or all members of the Ramius Group, as now or hereinafter filed with the SEC (the "Schedule 13D"). RECITALS WHEREAS, upon further review and analysis of its long term plan for success with financial and legal advisors, the Board of S1 has determined to engage its financial, legal and other advisors to explore strategic alternatives available to S1 in order to maximize stockholder value; WHEREAS, the Board has determined that it is in the best interests of the Company for Jeffrey Smith of the Ramius Group to join the Board in the class of directors to expire in 2008; and WHEREAS, the parties hereto desire to set forth certain covenants and agreements to resolve their respective views regarding various matters as to the Company, including the individuals to be presented to the S1 stockholders as nominees for election to the Board at the Company's 2006 Annual Meeting (as defined below) without the burden, distraction or expense of a proxy contest. NOW, THEREFORE, in consideration for the covenants and other agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 1. Covenants of S1. S1 covenants and agrees that, in reliance on the covenants and agreements of the Ramius Group set forth herein: (a) No later than the first business day after the date of this Agreement, the Board of S1 shall meet (the "Board Meeting") and (i) agree to fix the size of the Board at seven directors; (ii) appoint Jeffrey Smith of the Ramius Group as a director of the Company in the class whose term expires at the 2008 annual meeting of stockholders; (iii) set a record date of 21 business days after the date of the Board Meeting for an annual meeting of stockholders to be held on or about June 30, 2006 (the "2006 Annual Meeting") with the only matters to be submitted for a stockholder vote at the 2006 Annual Meeting being the election of the Board Nominees (as defined below); (iv) nominate Messrs. Thomas Johnson and John Speigel (the "Board Nominees") (both of whom S1 represents and warrants have consented to such nomination) to stand for election at the 2006 Annual Meeting; and (v) adopt an amendment to Section 2.3 of the Company's Bylaws in the form attached hereto as Exhibit A to allow stockholders holding at least one-tenth of the outstanding common stock of the Company to call a special meeting of stockholders; (b) At the Board Meeting, the Board (including the newly appointed Director Smith) shall immediately take all necessary and advisable actions to explore strategic alternatives available to the Company to maximize stockholder value, including instructing Friedman, Billings, Ramsey Group, Inc., to take all appropriate steps to advise on strategic alternatives available to the Company. To the extent any smaller committee of the Board subsequently takes responsibility for such exploration or related process, that committee shall include Director Smith (unless he or any member of the Ramius Group has a direct or indirect interest in any proposed strategic alternative (other than in their role as a stockholder)); (c) S1 shall issue a press release no later than the first business day after the date of this Agreement substantially in the form attached as Exhibit B; (d) S1 shall reimburse the Ramius Group for its reasonable, documented out-of-pocket fees and expenses incurred (including proxy solicitation, legal and public relations) in connection with the Schedule 13D, the preparation of its proxy solicitation and related matters for the 2006 Annual Meeting and the negotiation and execution of this Agreement and all related activities and matters, provided such reimbursement shall not exceed $87,500 in the aggregate; (e) From the date hereof through and including September 30, 2006, S1 will not (i) bring any proposals to the stockholders other than the election of the Board Nominees at the 2006 Annual Meeting, and any other proposals which 2 may be necessary in furtherance of any strategic alternative, (ii) take any action to amend the Bylaws of the Company other than as provided in Section 1(a) hereof or (iii) take any action to increase the size of the Board beyond seven members. 2. Covenants of the Ramius Group. Each member of the Ramius Group, on behalf of himself or itself, as applicable, covenants and agrees that, in reliance on the covenants and agreements of S1 set forth herein: (a) they will support the election of the Board Nominees, agree to vote all shares beneficially owned by them in favor of the Board Nominees, and agree to refrain from taking any action inconsistent with the foregoing, in each case at the 2006 Annual Meeting; (b) they will not solicit authority, directly or indirectly, from any S1 stockholder to elect or vote for any candidate or candidates for election to the Board at the 2006 Annual Meeting other than the Board Nominees or otherwise present for consideration to any S1 stockholder in connection with the 2006 Annual Meeting any candidates other than the Board Nominees or any proposal for any action, other than proposals or action which are made by the Board of Directors, nor will they engage in any campaign or efforts to have votes withheld from or otherwise campaign against any of the Board Nominees in connection with the 2006 Annual Meeting or cause any other party to do, or assist any other party in doing, any of the foregoing; (c) from the date hereof through and including September 30, 2006, they will not engage in any "solicitation" of proxies or consents, seek to advise, encourage or influence any person with respect to the voting of any Company securities, except in support of Board-approved proposals; initiate, propose or otherwise "solicit" stockholders of the Company for the approval of, stockholder proposals; induce or attempt to induce any other person to initiate any such stockholder proposal or any attempt to call a special meeting of stockholders; provided, however, nothing herein shall limit the ability of any member of the Ramius Group to vote its shares of common stock of the Company on any matter submitted to a vote of the stockholders of the Company other than the election of the Board Nominees or to announce its opposition to any Board-approved stockholder proposals not supported by Director Smith; (d) from the date hereof through and including September 30, 2006, they will not form, join or in any way participate in any "group" with respect to any voting securities, other than a "group" that includes all or some lesser number of the persons identified as part of the Ramius Group, but does not include any other members who are not currently identified as Ramius Group members as of the date hereof; 3 (e) on or before two business days from the date of this Agreement, they will amend or cause to be amended the Schedule 13D to file this Agreement and to make all appropriate disclosure related thereto; and (f) by execution of this Agreement, Starboard Value and Opportunity Master Fund Ltd. hereby rescinds notice of its intention to nominate any persons for director at the 2006 Annual Meeting, and hereby rescinds notice of its intention to propose any other matters to come before the stockholders at the 2006 Annual Meeting. For purposes of clarity, the demand to inspect certain records and lists of S1 stockholders and certain other documents as set forth in the demand letter referred to in the Schedule 13D is hereby rescinded. 3. General. (a) (i) S1 represents and warrants that the individual set forth below as signatory to this Agreement for S1 has the authority to execute this Agreement on behalf of S1 and to bind S1 to the terms hereof. (ii) Each member of the Ramius Group listed herein, on behalf of himself or itself, as applicable, represents and warrants that (x) to the best of his or its knowledge, except for Ramius Fund III, Ltd which became a member of the Ramius Group on May 1, 2006, all parties (and their affiliates) to the Schedule 13D with respect to Company common stock as filed with the SEC are the only parties required under applicable law to be listed in the Schedule 13D, and the references to those parties are correctly set forth in this Agreement, and (y) each signatory to this Agreement by any member of the Ramius Group has the authority to execute the Agreement on behalf of himself and the applicable member of the Ramius Group associated with that signatory's name, and to bind such member of the Ramius Group to the terms hereof. (b) This Agreement shall be governed by the laws of the State of Delaware, without regard to the conflicts of law provisions thereof. (c) This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. (d) The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the Parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 4 (e) If one or more provisions of this Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate such provision(s) in good faith so as to become enforceable while hewing as closely as possible to the original intent. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision(s), then (i) such provision shall be excluded from this Agreement, (ii) the balance of this Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of this Agreement shall remain enforceable in accordance with its terms. (f) Each party acknowledges that its breach of this Agreement would cause irreparable injury to the other for which monetary damages would not be an adequate remedy. Accordingly, a party will be entitled to seek injunctions and other equitable remedies in the event of such a breach by the other party (or any of its members). (g) This Agreement constitutes the entire agreement between the parties hereto pertaining to the subject matter hereof, and any and all other written or oral agreements existing between the parties with respect to the subject matter hereof are expressly canceled. [Signature page follows] 5 In Witness Whereof, the Parties have caused this Agreement to be executed and delivered by themselves or their duly authorized officer or attorney-in-fact as of the date first set forth above. S1 CORPORATION /s/ James S. Mahan III - -------------------------------------------- Print Name: James S. Mahan III -------------------------------- Title: Chief Executive Officer ------------------------------------- Starboard Value and Opportunity Master Fund Ltd. /s/ Jeffery M. Solomon - -------------------------------------------- Print Name: Jeffery M. Solomon -------------------------------- Title: Authorized Signatory ------------------------------------- Ramius Master Fund, Ltd. /s/ Jeffery M. Solomon - -------------------------------------------- Print Name: Jeffery M. Solomon -------------------------------- Title: Authorized Signatory ------------------------------------- Parche, LLC /s/ Jeffery M. Solomon - -------------------------------------------- Print Name: Jeffery M. Solomon -------------------------------- Title: Authorized Signatory ------------------------------------- RCG Ambrose Master Fund, Ltd. /s/ Jeffery M. Solomon - -------------------------------------------- Print Name: Jeffery M. Solomon -------------------------------- Title: Authorized Signatory ------------------------------------- RCG Halifax Fund, Ltd. /s/ Jeffery M. Solomon - -------------------------------------------- Print Name: Jeffery M. Solomon -------------------------------- Title: Authorized Signatory ------------------------------------- Ramius Fund III, Ltd /s/ Jeffery M. Solomon - -------------------------------------------- Print Name: Jeffery M. Solomon -------------------------------- Title: Authorized Signatory ------------------------------------- C4S & Co., L.L.C. /s/ Jeffery M. Solomon - -------------------------------------------- Print Name: Jeffery M. Solomon -------------------------------- Title: Authorized Signatory ------------------------------------- Admiral Advisors, LLC /s/ Jeffery M. Solomon - -------------------------------------------- Print Name: Jeffery M. Solomon -------------------------------- Title: Authorized Signatory ------------------------------------- Ramius Advisors, LLC /s/ Jeffery M. Solomon - -------------------------------------------- Print Name: Jeffery M. Solomon -------------------------------- Title: Authorized Signatory ------------------------------------- Ramius Capital Group, L.L.C. /s/ Jeffery M. Solomon - -------------------------------------------- Print Name: Jeffery M. Solomon -------------------------------- Title: Authorized Signatory ------------------------------------- Morgan B. Stark /s/ Morgan B. Stark - -------------------------------------------- Print Name: Morgan B. Stark -------------------------------- Title: ------------------------------------- Peter A. Cohen /s/ Morgan B. Stark - -------------------------------------------- Print Name: Morgan B. Stark -------------------------------- Title: ------------------------------------- Jeffrey M. Solomon /s/ Morgan B. Stark - -------------------------------------------- Print Name: Morgan B. Stark -------------------------------- Title: ------------------------------------- Thomas W. Strauss /s/ Morgan B. Stark - -------------------------------------------- Print Name: Morgan B. Stark -------------------------------- Title: ------------------------------------- Barington Companies Equity Partners, L.P. /s/ James A. Mitarotonda - -------------------------------------------- Print Name: James A. Mitarotonda -------------------------------- Title: Managing Member of General Partner ------------------------------------- James A. Mitarotonda /s/ James A. Mitarotonda - -------------------------------------------- Print Name: James A. Mitarotonda -------------------------------- Title: Managing Member ------------------------------------- Barington Companies Investors, LLC /s/ James A. Mitarotonda - -------------------------------------------- Print Name: James A. Mitarotonda -------------------------------- Title: Managing Member ------------------------------------- Barington Companies Offshore Fund, Ltd. (BVI) /s/ James A. Mitarotonda - -------------------------------------------- Print Name: James A. Mitarotonda -------------------------------- Title: President ------------------------------------- Barington Investments, L.P. /s/ James A. Mitarotonda - -------------------------------------------- Print Name: James A. Mitarotonda -------------------------------- Title: Authorized Signatory ------------------------------------- Barington Companies Advisors, LLC /s/ James A. Mitarotonda - -------------------------------------------- Print Name: James A. Mitarotonda -------------------------------- Title: Authorized Signatory ------------------------------------- Barington Capital Group, L.P. /s/ /s/ James A. Mitarotonda - -------------------------------------------- Print Name: James A. Mitarotonda -------------------------------- Title: President and Chief Executive Officer of General Partner ------------------------------------- LNA Capital Corp. /s/ James A. Mitarotonda - -------------------------------------------- Print Name: James A. Mitarotonda -------------------------------- Title: President and Chief Executive Officer ------------------------------------- Arcadia Partners, L.P. /s/ Richard Rofe - -------------------------------------------- Print Name: Richard Rofe -------------------------------- Title: General Partner ------------------------------------- Arcadia Capital Management, LLC /s/ Richard Rofe - -------------------------------------------- Print Name: Richard Rofe -------------------------------- Title: President ------------------------------------- Richard Rofe /s/ Richard Rofe - -------------------------------------------- Print Name: Richard Rofe -------------------------------- Title: ------------------------------------- William J. Fox /s/ William J. Fox - -------------------------------------------- Print Name: William J. Fox -------------------------------- Title: ------------------------------------- Jeffrey C. Smith /s/ Jeffrey C. Smith - -------------------------------------------- Print Name: Jeffrey C. Smith -------------------------------- Title: ------------------------------------- Jeffrey Glidden /s/ Jeffrey Glidden - -------------------------------------------- Print Name: Jeffrey Glidden -------------------------------- Title: ------------------------------------- Edward Terino /s/ Edward Terino - -------------------------------------------- Print Name: Edward Terino -------------------------------- Title: ------------------------------------- John Mutch /s/ John Mutch - -------------------------------------------- Print Name: John Mutch -------------------------------- Title: ------------------------------------- EXHIBIT A Section 2.3 of the Bylaws of the Company is amended by deleting the section in its entirety and replacing it with the following: "Special meetings of the shareholders for any purpose or purposes, unless otherwise prescribed by statute, may be called at any time by the Chairman of the Board of Directors, the President, or a majority of the Board of Directors, and shall be called by the Chairman of the Board of Directors, the President, or the Secretary upon the written request of the holders of not less than one tenth of all of the outstanding capital stock of the Corporation entitled to vote at the meeting. Such written request shall state the purpose or purposes of the meeting and shall be delivered to the principal office of the Corporation addressed to the Chairman of the Board, the President, or the Secretary." EXHIBIT B S1 Reaches Agreement with Ramius Group to End Proxy Contest Jeffrey Smith of Ramius Capital to Join Board of Directors ATLANTA, May XX, 2006 - S1 Corporation (Nasdaq: SONE), a leading global provider of customer interaction financial and payments solutions, announced today that it has reached a definitive agreement with a group of investors led by Ramius Capital Group, L.L.C. to settle their dispute relative to the nomination of certain directors to the S1 Board of Directors at the 2006 Annual Meeting. As a result of this settlement, the Ramius Group agreed to withdraw the notice of its intention to nominate directors and make other shareholder proposals at the Company's 2006 Annual Meeting. Additionally, Jeffrey C. Smith, a managing director of Ramius Capital Group, L.L.C., will be joining the S1 Board of Directors. The Company also agreed to amend its Bylaws to restore the right of stockholders owning 10% of the outstanding shares of common stock to call a special meeting. S1 also said that it has retained Friedman, Billings, Ramsey Group as its financial advisor to assist the Board of Directors in actively exploring strategic alternatives to maximize shareholder value. The law firm of Hogan & Hartson L.L.P. has also been retained to advise in connection with this review. No assurance can be given that any transaction will be entered into or consummated as a result of this review. About S1 S1 Corporation (Nasdaq: SONE) delivers customer interaction software for financial and payment services and offers unique solution sets for financial institutions, retailers, and processors. S1 employs 1,500 people in operations throughout North America, Europe and Middle East, Africa, and Asia-Pacific regions. Worldwide, more than 3,000 customers use S1 software solutions, which are comprised of applications that address virtually every market segment and delivery channel. S1 partners with best-in-class organizations to provide flexible and extensible software solutions for its customers. Additional information about S1 is available at www.s1.com. Forward Looking Statements This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act. These statements include statements with respect to our financial condition, results of operations and business. The words "believes," "expects," "may," "will," "should," "projects," "contemplates," "anticipates," "forecasts," "intends" or similar terminology identify forward-looking statements. These statements are based on our beliefs as well as assumptions made using information currently available to us. Because these statements reflect our current views concerning future events, they involve risks, uncertainties and assumptions. Therefore, actual results may differ significantly from the results discussed in the forward-looking statements. The risk factors included in our reports filed with the Securities and Exchange Commission (and available on our web site at www.s1.com or the SEC's web site at www.sec.gov ) provide examples of risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements. Except as provided by law, we undertake no obligation to update any forward-looking statement. Contacts: Investors: John Stone, Chief Financial Officer 404-923-3500 john.stone@s1.com Press: Mike Pascale/Rhonda Barnat of The Abernathy MacGregor Group 212-371-5999 mmp@abmac.com/rb@abmac.com EX-99.2 3 e600536_ex99-2.txt PRESS RELEASE S1 Reaches Agreement with Ramius Group to End Proxy Contest Jeffrey Smith of Ramius Capital to Join Board of Directors ATLANTA, May 3, 2006 - S1 Corporation (Nasdaq: SONE), a leading global provider of customer interaction financial and payments solutions, announced today that it has reached a definitive agreement with a group of investors led by Ramius Capital Group, L.L.C. to settle their dispute relative to the nomination of certain directors to the S1 Board of Directors at the 2006 Annual Meeting. As a result of this settlement, the Ramius Group agreed to withdraw the notice of its intention to nominate directors and make other shareholder proposals at the Company's 2006 Annual Meeting. Additionally, Jeffrey C. Smith, a managing director of Ramius Capital Group, L.L.C., will be joining the S1 Board of Directors. The Company also agreed to amend its Bylaws to restore the right of stockholders owning 10% of the outstanding shares of common stock to call a special meeting. S1 also said that it has retained Friedman, Billings, Ramsey Group as its financial advisor to assist the Board of Directors in actively exploring strategic alternatives to maximize shareholder value. The law firm of Hogan & Hartson L.L.P. has also been retained to advise in connection with this review. No assurance can be given that any transaction will be entered into or consummated as a result of this review. About S1 S1 Corporation (Nasdaq: SONE) delivers customer interaction software for financial and payment services and offers unique solution sets for financial institutions, retailers, and processors. S1 employs 1,500 people in operations throughout North America, Europe and Middle East, Africa, and Asia-Pacific regions. Worldwide, more than 3,000 customers use S1 software solutions, which are comprised of applications that address virtually every market segment and delivery channel. S1 partners with best-in-class organizations to provide flexible and extensible software solutions for its customers. Additional information about S1 is available at www.s1.com. Forward Looking Statements This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act. These statements include statements with respect to our financial condition, results of operations and business. The words "believes," "expects," "may," "will," "should," "projects," "contemplates," "anticipates," "forecasts," "intends" or similar terminology identify forward-looking statements. These statements are based on our beliefs as well as assumptions made using information currently available to us. Because these statements reflect our current views concerning future events, they involve risks, uncertainties and assumptions. Therefore, actual results may differ significantly from the results discussed in the forward-looking statements. The risk factors included in our reports filed with the Securities and Exchange Commission (and available on our web site at www.s1.com or the SEC's web site at www.sec.gov ) provide examples of risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements. Except as provided by law, we undertake no obligation to update any forward-looking statement. Contacts: Investors: John Stone, Chief Financial Officer 404-923-3500 john.stone@s1.com Press: Mike Pascale/Rhonda Barnat of The Abernathy MacGregor Group 212-371-5999 mmp@abmac.com/rb@abmac.com EX-99.3 4 e600536_ex99-3.txt JOINT FILING AGREEMENT JOINT FILING AGREEMENT In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D dated May 4, 2006 (including amendments thereto) with respect to the Common Stock of S1 Corporation. This Joint Filing Agreement shall be filed as an Exhibit to such Statement. Dated: May 4, 2006 STARBOARD VALUE AND RAMIUS MASTER FUND, LTD OPPORTUNITY MASTER FUND LTD. By: Ramius Advisors, LLC its investment manager PARCHE, LLC By: Ramius Capital Group, L.L.C. By: Admiral Advisors, LLC, its managing member its managing member ADMIRAL ADVISORS, LLC RCG AMBROSE MASTER FUND, LTD. By: Ramius Capital Group, L.L.C., By: Ramius Capital Group, L.L.C., its managing member its investment manager By: C4S & Co., L.L.C., RAMIUS ADVISORS, LLC its managing member By: Ramius Capital Group, L.L.C., its managing member RCG HALIFAX FUND, LTD. By: Ramius Capital Group, L.L.C., RAMIUS CAPITAL GROUP, L.L.C. its investment manager By: C4S & Co., L.L.C., By: C4S & Co., L.L.C., as managing member its managing member C4S & CO., L.L.C. RAMIUS FUND III, LTD By: Ramius Advisors, LLC its investment manager By: Ramius Capital Group, LLC its managing member By: /s/ Morgan B. Stark -------------------------- Name: Morgan B. Stark Title: Authorized Signatory /s/ Morgan B. Stark - ------------------------------- MORGAN B. STARK Individually and as attorney-in-fact for Peter A. Cohen, Jeffrey M. Solomon and Thomas W. Strauss BARINGTON COMPANIES EQUITY PARTNERS, L.P. By: Barington Companies Investors, LLC, its general partner By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: Managing Member BARINGTON COMPANIES INVESTORS, LLC By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: Managing Member /s/ James A. Mitarotonda - -------------------------------- James A. Mitarotonda BARINGTON COMPANIES OFFSHORE FUND, LTD. (BVI) By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: President BARINGTON INVESTMENTS, L.P. By: Barington Companies Advisors, LLC, its general partner By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: Authorized Signatory BARINGTON COMPANIES ADVISORS, LLC By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: Authorized Signatory BARINGTON CAPITAL GROUP, L.P. By: LNA Capital Corp., its general partner By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: President and Chief Executive Officer LNA CAPITAL CORP. By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: President and Chief Executive Officer /s/ Jeffrey C. Smith - -------------------------------- Jeffrey C. Smith -----END PRIVACY-ENHANCED MESSAGE-----