4 1 sbicstarmediaform4_093101.txt FORM 4 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 box if no longer subject of Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). ________________________________________________________________________________ 1. Name and Address of Reporting Person* J.P. Morgan Partners (SBIC), LLC -------------------------------------------------------------------------------- (Last) (First) (Middle) c/o J.P. Morgan Partners, LLC 1221 Avenue of the Americas - 40th Floor -------------------------------------------------------------------------------- (Street) New York New York 10020 -------------------------------------------------------------------------------- (City) (State) (Zip) ________________________________________________________________________________ 2. Issuer Name and Ticker or Trading Symbol StarMedia Network, Inc. ("STRM") ________________________________________________________________________________ 3. IRS Identification Number of Reporting Person, if an Entity (Voluntary) ________________________________________________________________________________ 4. Statement for Month/Year September 2001 ________________________________________________________________________________ 5. If Amendment, Date of Original (Month/Year) ================================================================================ 6. Relationship of Reporting Person to Issuer (Check all applicable) [_] Director [X] 10% Owner [_] Officer (give title below) [_] Other (specify below) ________________________________________________________________________________ 7. Individual or Joint/Group Filing (Check applicable line) [_] Form filed by one Reporting Person [X] Form filed by more than one Reporting Person ________________________________________________________________________________ ================================================================================ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned ================================================================================
6. 4. 5. Owner- Securities Acquired (A) or Amount of ship 3. Disposed of (D) Securities Form: 7. Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of 2. Code ------------------------------- Owned at End (D) or Indirect 1. Transaction (Instr. 8) (A) of Month Indirect Beneficial Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership (Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4) ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 09/30/01 J (FN 1) 989,952 A (FN 1) 2,857,955 I (FN 2) ------------------------------------------------------------------------------------------------------------------------------------ Common Stock N/A N/A N/A N/A N/A 11,738,333 D(FN 3) ------------------------------------------------------------------------------------------------------------------------------------ Common Stock N/A N/A N/A N/A N/A 98,361 I (FN 4) ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
* If the Form is filed by more than one Reporting Person, see Instruction 4(b)(v). Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Print or Type Responses) (Over) (Form 4-07/99) 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 Option (right to Common purchase) $3.00 N/A N/A N/A N/A N/A 12/15/00 12/14/10 Stock 85,000 -0- 1 I (FN 5) ----------------------------------------------------------------------------------------------------------------------------------- Series A Convetible Preferred Common Stock 10 to 1 N/A N/A N/A N/A N/A Immed N/A Stock 1,176,470 $25.50 117,647 D ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
Explanation of Responses: (1) These shares, which collateralized notes of Gratis-1 acquired by the parent of the Reporting Person, J.P. Morgan Partners (BHCA), L.P. ("JPM BHCA"), at various times between September 24, 2000 and February 28, 2001 were exchanged for the outstanding principal of and accrued interest on such notes on September 30, 2001. The aggregate amount of principal and interest for which these shares were exchanged was $2,969,855 ($3 per share). (2) These shares are owned by JPM BHCA. (3) Flatiron Associates LLC (f/k/a Friends of Flatiron, LLC), Flatiron Fund 1998/99, LLC and Flatiron Partners LLC (collectively, the "Flatiron Investors") and/or affiliates of the Flatiron Investors (collectively, the "Flatiron Group") are parties to certain co-investment arrangements with affiliates of JPM SBIC (the "JPM Entities"). The parties to such arrangements have agreed to a venture capital investment program for the purpose of making private investments primarily in the equity and equity-related securities of early stage Internet companies (the "Program"). In substance, the Program is similar to a typical venture capital investment firm, with certain Flatiron Investors receiving the equivalent of a standard carried interest from the JPM Entities. Upon the occurrence of certain contingencies that are outside the control of the JPM Entities, certain JPM Entities may acquire a pecuniary interest in the investments made by the Flatiron Investors. None of the JPM Entities presently has any beneficial or pecuniary interest in the shares of the Issuer held by the Flatiron Investors. (4) The amount shown in the third row of Table I represents the shares of Common Stock of the Issuer owned by Quetzal/J.P. Morgan Partners, L.P. ("Quetzal"). These shares may be deemed attributable to the general partner of JPM BHCA because its general partner participates in the investment decisions, and has significant rights to influence, the general partner, of Quetzal. (5) The stock option was granted to Susan Segal, a director of the Issuer and managing director of J.P. Morgan Partners SBIC, LLC ("JPM SBIC"), pursuant to the Issuer's 2000 Stock Incentive Plan. Ms. Segal is obligated to exercise the option, and to transfer any shares issued under the stock option to JPM SBIC, at the request of JPM SBIC. J.P. Morgan Partners (SBIC), LLC By: /s/ Jeffrey C. Walker 10/10/01 ---------------------------------------- ----------------------- Jeffrey C. Walker Date President ** 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 provided is insufficient, see Instruction 6 for procedure.
NAME AND ADDRESS OF DESIGNATED STATEMENT ISSUER NAME, TICKER REPORTING PERSON REPORTER (Note 1) FOR OR TRADING SYMBOL MONTH/YEAR ------------------------------------------------------------------------------------------------------------------------------------ J.P. Morgan Partners (BHCA), L.P. J.P. Morgan Partners September 2001 Starmedia Network, Inc. ("STRM") c/o J.P. Morgan Partners, LLC (SBIC), LLC 1221 Avenue of the Americas 40th Floor New York, NY 10020 ------------------------------------------------------------------------------------------------------------------------------------ JPMP Master Fund Manager, L.P. J.P. Morgan Partners September 2001 Starmedia Network, Inc. ("STRM") c/o J.P. Morgan Partners, LLC (SBIC), LLC 1221 Avenue of the Americas 40th Floor New York, NY 10020 ------------------------------------------------------------------------------------------------------------------------------------ JPMP Capital Corporation J.P. Morgan Partners September 2001 Starmedia Network, Inc. ("STRM") c/o J.P. Morgan Partners, LLC (SBIC), LLC 1221 Avenue of the Americas 40th Floor New York, NY 10020 ------------------------------------------------------------------------------------------------------------------------------------ J.P. Morgan Chase & Co. J.P. Morgan Partners September 2001 Starmedia Network, Inc. ("STRM") c/o J.P. Morgan Partners, LLC (SBIC), LLC 270 Park Avenue 35th Floor New York, NY 10017 ------------------------------------------------------------------------------------------------------------------------------------ Chatham Ventures, Inc. J.P. Morgan Partners September 2001 Starmedia Network, Inc. ("STRM") c/o J.P. Morgan Partners, LLC (SBIC), LLC 1221 Avenue of the Americas New York, NY 10020 ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ NAME AND ADDRESS OF TITLE OF AMOUNT OF OWNERSHIP FORM: NATURE OF INDIRECT DISCLAIMS REPORTING PERSON SECURITY SECURITIES DIRECT (D) OR BENEFICIAL OWNERSHIP PECUNIARY BENEFICIALLY INDIRECT (I) INTEREST OWNED(1) ----------------------------------------------------------------------------------------------------------------------------------- J.P. Morgan Partners (BHCA), L.P. Common Stock See Tables I I See Explanatory No c/o J.P. Morgan Partners, LLC and II above Note 2 below 1221 Avenue of the Americas 40th Floor New York, NY 10020 ------------------------------------------------------------------------------------------------------------------------------------ JPMP Master Fund Manager, L.P. Common Stock See Tables I I See Explanatory No c/o J.P. Morgan Partners, LLC and II above Note 3 below 1221 Avenue of the Americas 40th Floor New York, NY 10020 ------------------------------------------------------------------------------------------------------------------------------------ JPMP Capital Corporation Common Stock See Tables I I See Explanatory No c/o J.P. Morgan Partners, LLC and II above Note 4 below 1221 Avenue of the Americas 40th Floor New York, NY 10020 ------------------------------------------------------------------------------------------------------------------------------------ J.P. Morgan Chase & Co. Common Stock See Tables I I See Explanatory No 270 Park Avenue and II above Note 5 below 35th Floor New York, NY 10017 ------------------------------------------------------------------------------------------------------------------------------------ Chatham Ventures, Inc. Common Stock See Tables I I See Explanatory No c/o J.P. Morgan Partners, LLC and II above Note 6 below 1221 Avenue of the Americas 40th Floor New York, NY 10020 ------------------------------------------------------------------------------------------------------------------------------------
Explanatory Note: 1) The Designated Reporter is executing this report on behalf of all Reporting Persons, each of whom has authorized it to do so. J.P. Morgan Partners (BHCA), L.P. ("JPM BHCA") disclaims beneficial ownership of the 98,361 shares of Common Stock of the Issuer owned by Quetzal/J.P. Morgan Partners, L.P. ("Quetzal"). To the extent it exceeds such Person's pecuniary interest therein, each of the other Reporting Persons disclaims beneficial ownership of the 98,361 shares of Common Stock owned by Quetzal, the 2,857,955 shares of Common Stock owned by JPM BHCA, and the 11,738,333 shares of Common Stock owned by J.P. Morgan Partners (SBIC), LLC ("JPM SBIC"). 2) The amounts shown in Table I represent the beneficial ownership of the Issuer's equity securities by JPM SBIC, by the Reporting Person, JPM BHCA and by Quetzal; the amount shown in Table II represents the beneficial ownership of the Issuer'equity securities by JPM SBIC. The Reporting Person is the sole member of JPM SBIC. 3) The amounts shown in Tables I and II represent the beneficial ownership of the Issuer's equity securities by JPM SBIC, JPM BHCA and Quetzal, a portion of which may be deemed attributable to the Reporting Person because it is the sole general partner of JPM BHCA, the sole member of JPM SBIC, and participates in the investment decisions of, and has significant rights to influence the General Partner of Quetzal. The actual pro rata portion of such beneficial ownership that may be deemed to be attributable to the Reporting Person is not readily determinable because it is subject to several variables, including the internal rate of return and vesting of interests within JPM BHCA and Quetzal. 4) The amounts shown in Tables I and II represent the beneficial ownership of the Issuer's equity securities by JPM SBIC, JPM BHCA and Quetzal, a portion of which may be deemed attributable to the Reporting Person because it is the general partner of JPMP Master Fund Manager, L.P. ("MF Manager"), the general partner of JPM BHCA (the parent of JPM SBIC) and a participant in the investment decisions of the General Partner of Quetzal. The actual pro rata portion of such beneficial ownership that may be deemed to be attributable to the Reporting Person is not readily determinable because it is subject to several variables, including the internal rate of return and vesting of interests within JPM BHCA, MF Manager and Quetzal. 5) The amounts shown in Tables I and II represent the beneficial ownership of the Issuer's equity securities by JPM SBIC, JPM BHCA and Quetzal, a portion of which may be deemed attributable to the Reporting Person because it is the sole stockholder of JPMP Capital Corporation (the general partner of MF Manager) and of Chatham Ventures, Inc., the limited partner of JPM BHCA. The actual pro rata portion of such beneficial ownership that may be attributable to the Reporting Person is not readily determinable because it is subject to several variables, including the internal rate of return and vesting of interests within JPM BHCA, MF Manager and Quetzal. 6) The amounts shown in Tables I and II represent the beneficial ownership of the Issuer's equity securities by JPM SBIC, JPM BHCA and Quetzal. A portion of the holdings of JPM SBIC and JPM BHCA may be deemed attributable to the Reporting Person because it is the sole limited partner of JPM BHCA, the parent of JPM SBIC. The actual pro rata portion of such beneficial ownership that may be deemed to be attributable to the Reporting Person is not readily determinable because it is subject to several variables, including the internal rate of return and vesting of interests within JPM BHCA. The Reporting Person disclaims beneficial ownership, and has no pecuniary interest, in the shares owned by Quetzal.