-----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, LUV72rXwULjZCDDuhT9TJvkgwLhrCL9VdsfjFiU7/o1ZQ0cN3NN4U26cHXoqBDBB vgNjzU7XelVvAq3Kx6/HNw== 0001012975-02-000068.txt : 20020415 0001012975-02-000068.hdr.sgml : 20020415 ACCESSION NUMBER: 0001012975-02-000068 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020311 FILED AS OF DATE: 20020311 COMPANY DATA: COMPANY CONFORMED NAME: WIEDERHORN ANDREW CENTRAL INDEX KEY: 0001033016 OWNER FILING VALUES: FORM TYPE: 4 BUSINESS ADDRESS: STREET 1: C/O WILSHIRE FINANCIAL SERVICES GROUP STREET 2: 1776 SW MADISON STREET CITY: PORTLAND STATE: OR ZIP: 97205 BUSINESS PHONE: 5032235600 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FOG CUTTER CAPITAL GROUP INC CENTRAL INDEX KEY: 0001048566 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 522081138 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-23911 FILM NUMBER: 02571965 BUSINESS ADDRESS: STREET 1: 1631 SW COLUMBIA STREET CITY: PORTLAND STATE: OR ZIP: 97201 BUSINESS PHONE: 5037216500 MAIL ADDRESS: STREET 1: 1310 S W 17TH ST CITY: PORTLAND STATE: OR ZIP: 97201 FORMER COMPANY: FORMER CONFORMED NAME: WILSHIRE REAL ESTATE INVESTMENT TRUST INC DATE OF NAME CHANGE: 19971027 4 1 e56746.txt ------------------------------ OMB APPROVAL ------------------------------ OMB Number: 3235-0287 Expires: December 31, 2001 Estimated average burden hours per response ... 0.5 ------------------------------ U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 [_] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). (Print or Type Responses) ________________________________________________________________________________ 1. Name and Address of Reporting Person* Wiederhorn, Andrew A. - -------------------------------------------------------------------------------- (Last) (First) (Middle) 1410 SW Jefferson Street - -------------------------------------------------------------------------------- (Street) Portland Oregon 97201 - -------------------------------------------------------------------------------- (City) (State) (Zip) ================================================================================ 2. Issuer Name and Ticker or Trading Symbol Fog Cutter Capital Group Inc. (FCCG) - -------------------------------------------------------------------------------- 3. IRS Identification Number of Reporting Person, if an Entity (Voluntary) - -------------------------------------------------------------------------------- 4. Statement for Month/Year February 2002 - -------------------------------------------------------------------------------- 5. If Amendment, Date of Original (Month/Year) ================================================================================ 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) [X] Director [X] 10% Owner [X] Officer (give title below) [_] Other (specify below) Chairman, CEO, Secretary, Treasurer ----------------------------------- - -------------------------------------------------------------------------------- 7. Individual or Joint/Group Filing (Check Applicable Line) [X] Form filed by One Reporting Person [_] Form filed by More than One Reporting Person ================================================================================ ================================================================================ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned ================================================================================
4. 5. 6. Securities Acquired (A) Amount of Owner- 3. or Disposed of (D) Securities ship Trans- (Instr. 3, 4 and 5) Benefi- Form: 7. 2. action ----------------------- cially Direct Nature of 1. Transaction Code Owned at End (D) or Indirect Title of Security Date (Instr. 8) (A) or Month Indirect Beneficial (Instr. 3) (Month/ ---------- or (Instr. 3 (I) Ownership Day/Year) Code V Amount (D) Price and 4) (Instr.4) (Instr. 4) - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 52,000 D - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 629,255 I By Spouse(1) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 2/21/02 X 530,720 A $3.14 I By LP(1)(2) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 2/21/02 P 1,500 A $3.14 951,709 I By LP(1)(2) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 13,826 I By LLC(1)(3) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 45,613 I By Minor Children - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * If the Form is filed by more than one reporting person, see Instruction 5(b)(v). Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number (Over) SEC 1474 (3-99) 1 of 2 FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================
10. 9. Owner- Number ship of Form 2. Deriv- of Conver- 5. 7. ative Deriv- 11. sion Number of Title and Amount Secur- ative Nature or Derivative 6. of Underlying 8. ities Secur- of Exer- 4. Securities Date Securities Price Bene- ity: In- cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene- 1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner- Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship Security Secur- Day/ ------ ----------- Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Stock Options $4.53 9/30/99 A 630,000 (4) 9/30/09 Common 630,000 $4.53 630,000 D (right to buy) Stock - ------------------------------------------------------------------------------------------------------------------------------------ Call Options $3.14 2/21/02 X 530,720 10/16/01 2/21/02 Common 530,720 (5) 0 D (right to buy) Stock - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
Explanation of Responses: (1) The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of said securities for purposes of Section 16 or for any other purpose. (2) These securities are held by TTMM, LP, a partnership controlled by the spouse of the Reporting Person. (3) These securities are held by WM Starlight Investments, LLC, a limited liability company. The Reporting Person's spouse is the managing member and owner of WM Starlight Investments, LLC. (4) Vest 1/4 per year. (5) On October 16, 2001, the Reporting Person entered into a series of separate but substantially identical Put/Call Option and Voting Agreements with each of Boston Provident Partners, L.P., B.P. Institutional Partners, L.P., Orin Kramer, the Leon & Toby Cooperman Foundation, Watchung Road Associates, L.P., and Cobalt Capital Management, Inc. (each a Stockholder, and collectively, the "Stockholders"). Pursuant to each Put/Call Option and Voting Agreement, each Stockholder granted to the Reporting Person a call option to purchase all of the shares of Common Stock held by such Stockholder, numbering 1,009,954 in the aggregate at $3.40 per share (subject to adjustment as provided in the Put/Call Option and Voting Agreements). In consideration for granting the call option to the Reporting Person, the Reporting Person paid to each Stockholder $0.10 per share. Pursuant to the Put/Call Option and Voting Agreement, the Registrant granted each Stockholder a conditional put option to sell to the Registrant all of the shares of Common Stock held by such Stockholder, numbering 1,009,954 in the aggregate at $3.40 per share (subject to adjustment as provided in the Put/Call Option and Voting Agreement) in the event that the Company redeems, repurchases or otherwise acquires any shares of the Common Stock other than by means of a redemption, repurchase or acquisition available to the Stockholder on terms at least as favorable to the Stockholder as the most favorable terms available to the other stockholders of the Company. On January 11, 2002, the Reporting Person, elected to exercise his options to purchase an aggregate of 479,234 shares of Common Stock at $3.14 per share. Prior to the closing, which occurred on January 15, 2002, Mr. Wiederhorn assigned his right to receive, and delegated his obligation to pay for 319,489 shares of the Common Stock that the Reporting Person elected to purchase to TTMM, LP and 159,745 shares of the Common Stock that the Reporting Person elected to purchase to Robert Rosen. Upon the closing of the purchase, which occurred on January 15, 2002, there were no remaining call options under the Put/Call Option Agreements with B.P. Institutional Partners, L.P., Orin Kramer, and the Leon & Toby Cooperman Foundation. On January 31, 2002, the Reporting Person entered into amendments to the Put/Call Option and Voting Agreements with each of Boston Provident Partners, L.P., Watchung Road Associates, L.P. and Cobalt Management, Inc. (the "Remaining Stockholders"). Pursuant to the amendments, the exercise period was extended until February 21, 2002 and the Reporting Person agreed to pay the sum of $.05 per subject share and granted the Remaining Stockholders a put option to require the Reporting Person to purchase each Remaining Stockholder's subject shares. Each of the Remaining Stockholders exercised its put option for all of its subject shares (an aggregate of 530,720) on or prior to February 18, 2002 and the Reporting Person assigned his obligations to purchase the subject shares to TTMM, LP on February 21, 2002. /s/ Andrew A. Wiederhorn 3/11/02 ============================================= ----------------------- **Signature of Reporting Person Date ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number 2 of 2 -----END PRIVACY-ENHANCED MESSAGE-----