-----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, FVHS+nQqicgwaSXSwgOiKBcKSVrGpSk3iNw3qSbXbo1MAMRKMqwc1Jq6QTXSRc0p 2D9+3PX3C/EseG6EKJat+A== 0000108703-97-000005.txt : 19970630 0000108703-97-000005.hdr.sgml : 19970630 ACCESSION NUMBER: 0000108703-97-000005 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970627 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: WYMAN GORDON CO CENTRAL INDEX KEY: 0000108703 STANDARD INDUSTRIAL CLASSIFICATION: METAL FORGING & STAMPINGS [3460] IRS NUMBER: 041992780 STATE OF INCORPORATION: MA FISCAL YEAR END: 0528 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-03085 FILM NUMBER: 97631593 BUSINESS ADDRESS: STREET 1: 244 WORCHESTER ST STREET 2: BOX 8001 CITY: NORTH GRAFTON STATE: MA ZIP: 01536 BUSINESS PHONE: 5088394441 11-K 1 WYMAN-GORDON FORM 11-K AS OF 12/31/96 1 FORM 11-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 [ X ] Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 (Fee Required) For the Fiscal Year ended December 31, 1996 [ ] Transition Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 (No Fee Required) For the Transition Period from to WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN (Full Title of the Plan) WYMAN-GORDON COMPANY 244 WORCESTER STREET P.O. BOX 8001 NORTH GRAFTON, MASSACHUSETTS 01536-8001 (Name of Issuer of the Securities Held Pursuant to the Plan and the Address of its Principal Executive Offices) 1 of 3 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan Committee of Wyman-Gordon Company has duly caused this Annual Report to be signed on its behalf by the undersigned hereunto duly authorized. WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN Date: 6/27/97 By: /S/ANDREW C. GENOR Andrew C. Genor Vice President - Chief Financial Officer and Treasurer -2- 3 WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES For the Years Ended December 31, 1996 and 1995 with Report of Independent Auditors -3- 4
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN INDEX TO FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES PAGES Report of Independent Auditors R-2 Consent of Independent Auditors R-3 Financial Statements: Statements of Net Assets Available for Plan Benefits as of December 31, 1996 and 1995 R-4/R-4A Statements of Changes in Net Assets Available for Plan Benefits for the years ended December 31, 1996 and 1995 R-5A1/R-5B1 Notes to Financial Statements R-6 Additional Information for Item 30(a) - Supplemental Schedule of Assets Held for Investment Purposes as at December 31, 1996 R-19 Additional Information for Item 30(d) - Supplemental Schedule of Reportable Transactions for the Year Ended December 31, 1996 R-20A/R-20B
R-1 5 REPORT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS To The Trustees of Wyman-Gordon Company Savings/Investment Plan We have audited the accompanying statements of net assets available for plan benefits of the Wyman-Gordon Company Savings/ Investment Plan as of December 31, 1996 and 1995, and the related statements of changes in net assets available for plan benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits of the Wyman-Gordon Company Savings/Investment Plan as of December 31, 1996 and 1995, and the changes in net assets available for plan benefits for the years then ended, in conformity with generally accepted accounting principles. Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The accompanying supplemental schedules of assets held for investment purposes at December 31, 1996 and reportable transactions for the year then ended are presented for purposes of complying with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 and are not part of the basic financial statements. The Fund Information in the statement of changes in net assets available for benefits is presented for purposes of additional analysis rather than to present the changes in net assets available for benefits of each fund. The supplemental schedules and Fund Information have been subjected to the auditing procedures applied in our audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. /S/ERNST & YOUNG LLP Ernst & Young LLP Boston, Massachusetts June 27, 1997 R-2 6 CONSENT OF INDEPENDENT AUDITORS We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 33-26980) pertaining to the Wyman-Gordon Company Savings/Investment Plan of our report dated June 27, 1997, with respect to the financial statements and schedules of the Wyman-Gordon Company Savings/Investment Plan included in this Annual Report (Form 11-K) for the year ended December 31, 1996. /S/ERNST & YOUNG LLP Ernst & Young LLP Boston, Massachusetts June 27, 1997 R-3 7
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS AS OF DECEMBER 31, 1996 and 1995 1996 1995 FAIR FAIR VALUE VALUE ASSETS Investments, at fair value: Collective Investment Funds: AIM Constellation $ 2,098,316 $ 451,793 MasterWorks-Income Accumulation 20,201,527 18,688,703 N&B Guardian Trust 848,304 418,103 MasterWorks-LifePath 2000 783,667 850,254 MasterWorks-LifePath 2010 1,264,152 799,301 MasterWorks-LifePath 2020 1,028,771 572,496 MasterWorks-LifePath 2030 243,803 144,214 MasterWorks-LifePath 2040 184,810 85,273 Templeton Foreign(I) 613,439 174,883 MasterWorks-Asset Allocation 9,544,075 9,708,700 MasterWorks-Bond Index 5,082,911 6,091,149 MasterWorks-Growth Stock 10,495,756 8,677,639 MasterWorks-S&P 500 Stock 16,013,721 11,523,168 68,403,252 58,185,676 Cooper Common Stock 1,043,192 1,160,824 Cooper Debenture 1,080,174 - Cooper Preferred Stock - 1,645,385 Cooper Cameron Stock 102,434 54,983 Wyman-Gordon Stock 18,289,991 9,359,603 Participant Loans 2,365,587 1,717,611 Total assets $91,284,630 $72,124,082
The accompanying notes are an integral part of these financial statements. R-4 8
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS AS OF DECEMBER 31, 1996 and 1995 1996 1995 FAIR FAIR VALUE VALUE LIABILITIES Participants' withdrawals and benefits payable - - Net assets available for plan benefits $91,284,630 $72,124,082
The accompanying notes are an integral part of these financial statements. R-4A 9
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1996 FUND INFORMATION MASTERWORKS MASTER- AIM INCOME N&B WORKS CONSTEL- ACCUMU- GUARDIAN LIFEPATH LATION LATION TRUST 2000 ADDITIONS Contributions: Employee $ 353,497 $ 1,422,667 $196,811 $ 88,491 Employer - - - - 353,497 1,422,667 196,811 88,491 Interest 69,003 1,046,728 19,269 31,873 Net appreciation in fair market value of investments 117,803 - 90,679 18,581 Total additions 540,303 2,469,395 306,759 138,945 DEDUCTIONS Participants' withdrawals (3,437) (1,789,302) 830 (18,660) Plan administrative expenses (1,211) (14,638) (594) (215) Net transfers in (out) 1,110,868 847,369 123,206 (186,657) Total (deductions) additions 1,106,220 (956,571) 123,442 (205,532) Increase (decrease) in net assets available for plan benefits 1,646,523 1,512,824 430,201 (66,587) Net assets available for plan benefits: Beginning of year 451,793 18,688,703 418,103 850,254 End of year $2,098,316 $20,201,527 $ 848,304 $ 783,667
The accompanying notes are an integral part of these financial statements. R-5A1 10
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1996 (Continued) FUND INFORMATION MASTER- MASTER- MASTER- MASTER- WORKS WORKS WORKS WORKS LIFEPATH LIFEPATH LIFEPATH LIFEPATH 2010 2020 2030 2040 ADDITIONS Contributions: Employee $ 173,983 $ 111,492 $ 58,283 $ 37,540 Employer - - - - 173,983 111,492 58,283 37,540 Interest 33,198 21,549 4,998 2,291 Net appreciation in fair market value of investments 83,022 76,200 23,677 18,438 Total additions 290,203 209,241 86,958 58,269 DEDUCTIONS Participants' withdrawals (8,576) (12,649) (1,945) (2,152) Plan administrative expenses (495) (538) (264) (172) Net transfers in (out) 183,719 260,221 14,840 43,592 Total (deductions) additions 174,648 247,034 12,631 41,268 Increase (decrease) in net assets available for plan benefits 464,851 456,275 99,589 99,537 Net assets available for plan benefits: Beginning of year 799,301 572,496 144,214 85,273 End of year $1,264,152 $1,028,771 $243,803 $184,810
The accompanying notes are an integral part of these financial statements. R-5A2 11
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1996 (Continued) FUND INFORMATION MASTER- MASTER- MASTER- WORKS WORKS WORKS TEMPLETON ASSET BOND GROWTH FOREIGN(I) ALLOCATION INDEX STOCK ADDITIONS Contributions: Employee $ 107,829 $ 842,439 $ 366,152 $ 1,361,378 Employer - - - - 107,829 842,439 366,152 1,361,378 Interest 22,316 912,462 354,087 141,884 Net appreciation in fair market value of investments 41,878 160,866 (275,271) 890,240 Total additions 172,023 1,915,767 444,968 2,393,502 DEDUCTIONS Participants' withdrawals 52,037 (461,071) (271,779) (305,114) Plan administrative expenses (423) (6,526) (3,306) (7,930) Net transfers in (out) 214,919 (1,612,795) (1,178,121) (262,341) Total (deductions) additions 266,533 (2,080,392) (1,453,206) (575,385) Increase (decrease) in net assets available for plan benefits 438,556 (164,625) (1,008,238) 1,818,117 Net assets available for plan benefits: Beginning of year 174,883 9,708,700 6,091,149 8,677,639 End of year $ 613,439 $9,544,075 $5,082,911 $10,495,756
The accompanying notes are an integral part of these financial statements. R-5A3 12
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1996 (Continued) FUND INFORMATION MASTER- WORKS COOPER COOPER S&P 500 COMMON COOPER CAMERON STOCK STOCK DEBENTURE STOCK ADDITIONS Contributions: Employee $ 1,619,857 $ - $ - $ - Employer - - - - 1,619,857 - - - Interest 516,544 - - - Net appreciation in fair market value of investments 2,288,338 179,241 119,470 57,028 Total additions 4,424,739 179,241 119,470 57,028 DEDUCTIONS Participants' withdrawals (345,776) (15,103) (100,153) (992) Plan administrative expenses (42,193) - (393) - Net transfers in (out) 453,783 (281,770) (584,135) (8,585) Total (deductions) additions 65,814 (296,873) (684,681) (9,577) Increase (decrease) in net assets available for plan benefits 4,490,553 (117,632) (565,211) 47,451 Net assets available for plan benefits: Beginning of year 11,523,168 1,160,824 1,645,385 54,983 End of year $16,013,721 $1,043,192 $1,080,174 $102,434
The accompanying notes are an integral part of these financial statements. R-5A4 13
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1996 (Continued) FUND INFORMATION W-G PARTICIPANT W-G STOCK LOANS TOTAL ADDITIONS Contributions: Employee $ 771,134 $ - $ 7,511,553 Employer 2,172,963 - 2,172,963 2,944,097 - 9,684,516 Interest - 211,658 3,387,860 Net appreciation in fair market value of investments 6,051,070 - 9,941,260 Total additions 8,995,167 211,658 23,013,636 DEDUCTIONS Participants' withdrawals (437,407) (37,174) (3,758,423) Plan administrative expenses (15,767) - (94,665) Net transfers in (out) 388,395 473,492 - Total (deductions) additions (64,779) 436,318 (3,853,088) Increase (decrease) in net assets available for plan benefits 8,930,388 647,976 19,160,548 Net assets available for plan benefits: Beginning of year 9,359,603 1,717,611 72,124,082 End of year $18,289,991 $2,365,587 $91,284,630
The accompanying notes are an integral part of these financial statements. R-5A5 14
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1995 FUND INFORMATION MASTERWORKS MASTER- AIM INCOME N&B WORKS CONSTEL- ACCUMU- GUARDIAN LIFEPATH LATION LATION TRUST 2000 ADDITIONS Contributions: Employee $ 59,897 $ 1,330,346 $ 41,360 $ 98,547 Employer 351 183,619 879 - Rollovers - - - - 60,248 1,513,965 42,239 98,547 Interest 14,232 1,256,710 6,809 41,639 Net appreciation in fair market value of investments 35,554 - 36,256 70,925 Total additions 110,034 2,770,675 85,304 211,111 DEDUCTIONS Participants' withdrawals (448) (2,403,422) - 1,872 Plan administrative expenses (421) (18,317) (261) (264) Net transfers in (out) 342,628 (304,293) 333,060 (73,463) Total (deductions) additions 341,759 (2,726,032) 332,799 (71,855) Increase (decrease) in net assets available for plan benefits 451,793 44,643 418,103 139,256 Net assets available for plan benefits: Beginning of year - 18,644,060 - 710,998 End of year $ 451,793 $18,688,703 $ 418,103 $ 850,254
The accompanying notes are an integral part of these financial statements. R-5B1 15
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1995 (Continued) FUND INFORMATION MASTER- MASTER- MASTER- MASTER- WORKS WORKS WORKS WORKS LIFEPATH LIFEPATH LIFEPATH LIFEPATH 2010 2020 2030 2040 ADDITIONS Contributions: Employee $117,207 $ 61,305 $ 25,551 $ 23,704 Employer 22 61 9 10 Rollovers - - - - 117,229 61,366 25,560 23,714 Interest 30,499 19,838 5,665 3,225 Net appreciation in fair market value of investments 101,154 71,265 26,147 14,732 Total additions 248,882 152,469 57,372 41,671 DEDUCTIONS Participants' withdrawals 8,445 4,151 (9,053) 1,126 Plan administrative expenses (359) (392) (206) (106) Net transfers in (out) (14,989) 124,970 2,190 (13,907) Total (deductions) additions (6,903) 128,729 (7,069) (12,887) Increase (decrease) in net assets available for plan benefits 241,979 281,198 50,303 28,784 Net assets available for plan benefits: Beginning of year 557,322 291,298 93,911 56,489 End of year $799,301 $572,496 $144,214 $ 85,273
The accompanying notes are an integral part of these financial statements. R-5B2 16
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1995 (Continued) FUND INFORMATION MASTER- MASTER- MASTER- WORKS WORKS WORKS TEMPLETON ASSET BOND GROWTH FOREIGN(I) ALLOCATION INDEX STOCK ADDITIONS Contributions: Employee $ 19,760 $ 770,875 $ 60,461 $ 991,595 Employer 230 24,103 4,905 29,052 Rollover - - - - 19,990 794,978 65,366 1,020,647 Interest 7,111 329,353 63,152 938,290 Net appreciation in fair market value of investments 306 1,797,583 95,867 1,231,594 Total additions 27,407 2,921,914 224,385 3,190,531 DEDUCTIONS Participants' withdrawals (108) (786,018) (14,569) (396,969) Plan administrative expenses (84) (6,791) (2,563) (6,721) Net transfers in (out) 147,668 (28,657) 5,883,896 408,246 Total (deductions) additions 147,476 (821,466) 5,866,764 4,556 Increase (decrease) in net assets available for plan benefits 174,883 2,100,448 6,091,149 3,195,087 Net assets available for plan benefits: Beginning of year - 7,608,252 - 5,482,552 End of year $174,883 $9,708,700 $6,091,149 $8,677,639
The accompanying notes are an integral part of these financial statements. R-5B3 17
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1995 (Continued) FUND INFORMATION MASTER- MASTER- WORKS WORKS COOPER S&P 500 TREASURY COMMON COOPER STOCK ALLOCATION STOCK PREFERRED ADDITIONS Contributions: Employee $ 1,131,323 $ 344,520 $ - $ - Employer 93,233 37,844 - - Rollover 680,559 - 23,110 25,025 1,905,115 382,364 23,110 25,025 Interest 391,722 289,893 - - Net appreciation in fair market value of investments 2,561,920 458,128 139,048 321,058 Total additions 4,858,757 1,130,385 162,158 346,083 DEDUCTIONS Participants' withdrawals (535,938) (426,184) (61,723) (55,134) Plan administrative expenses (37,089) (2,465) (21) (849) Net transfers in (out) (722,829) (7,028,821) (336,395) (415,258) Total (deductions) additions (1,295,856) (7,457,470) (398,139) (471,241) Increase (decrease) in net assets available for plan benefits 3,562,901 (6,327,085) (235,981) (125,158) Net assets available for plan benefits: Beginning of year 7,960,267 6,327,085 1,396,805 1,770,543 End of year $11,523,168 $ - $1,160,824 $1,645,385
The accompanying notes are an integral part of these financial statements. R-5B4 18
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1995 (Continued) FUND INFORMATION COOPER CAMERON W-G PARTICIPANT STOCK STOCK LOANS TOTAL ADDITIONS Contributions: Employee $ - $ 445,032 $ - $ 5,521,483 Employer - 925,822 - 1,300,140 Rollover - 150,485 18,198 897,377 - 1,521,339 18,198 7,719,000 Interest - - 150,171 3,548,309 Net appreciation in fair market value of investments 34,787 3,997,828 - 10,994,152 Total additions 34,787 5,519,167 168,369 22,261,461 DEDUCTIONS Participants' withdrawals (2,351) (377,831) (78,434) (5,132,588) Plan administrative expenses - (12,832) - (89,741) Net transfers in (out) 22,547 1,488,781 184,626 - Total (deductions) additions 20,196 1,098,118 106,192 (5,222,329) Increase (decrease) in net assets available for plan benefits 54,983 6,617,285 274,561 17,039,132 Net assets available for plan benefits: Beginning of year - 2,742,318 1,443,050 55,084,950 End of year $ 54,983 $9,359,603 $1,717,611 $72,124,082
The accompanying notes are an integral part of these financial statements. R-5B5 19 Wyman-Gordon Company Savings/Investment Plan NOTES TO FINANCIAL STATEMENTS 1. PLAN DESCRIPTION The Wyman-Gordon Company Savings/Investment Plan ("the Plan") is a single employer defined contribution plan covering certain employees of Wyman-Gordon Company ("the Company"). The Plan was established on January 1, 1981 for the purpose of providing eligible employees with opportunities for (I) convenient and regular personal savings; (II) sharing in contributions by the Company out of its current and accumulated net profits; and (III) supplementing retirement benefits. The Plan is a contributory Plan which is funded by a trust arrangement with the Wyman-Gordon Savings/Investment Trust (the "Trust"). ADMINISTRATION OF THE PLAN The Plan is administered jointly by a Plan Committee and a Plan Investment Committee, both of whose members are appointed by the Company's Chief Executive Officer. The Plan Committee is responsible for the promulgation and enforcement of necessary or appropriate rules and regulations for the administration of the Plan, the interpretation of the terms of the Plan, and the resolution of questions relating to an individual's participation in the Plan. ELIGIBILITY Wyman-Gordon Company ("the Company") has amended and restated the Wyman-Gordon Company Savings/Investment Plan ("the Plan"). The Company issued the Wyman-Gordon Company Savings/ Investment Plan, Plan and Trust Agreement, Second Complete Amendment and Restatement on December 20, 1994, generally effective April 1, 1992. As of January 1, 1996, all employees of the Company are eligible to participate in the Plan except any employee who is covered by a collective bargaining agreement which does not specifically call for his or her participation in this Plan. Participation can begin after a maximum of three months service. Prior to January 1, 1996, participation began after six months of service. FEDERAL INCOME TAXES The Internal Revenue Service (IRS) has determined and informed the Company by letter dated April 24, 1997, that the Plan and related Trust are designed in accordance with section 401 of the Internal Revenue Code (IRC). The letter includes the most recent amendments to the Plan. Accordingly, no provision for taxes is necessary since the Trust has been determined to be exempt from taxation under Section 501 of the IRC. R-6 20 Wyman-Gordon Company Savings/Investment Plan NOTES TO FINANCIAL STATEMENTS, (Cont.) PLAN DESCRIPTION, (Cont.) EMPLOYEE CONTRIBUTIONS Upon becoming a Participant, an eligible employee may elect to reduce his or her compensation between 1% and 15% and have such amount contributed to the Plan by the employer as a pre-tax contribution. With regard to a participant who is a WGFI hourly employee, 20% is the maximum contribution. The election shall be made in advance as a whole percentage of their compensation. Additionally, an eligible employee may elect to make after-tax contributions to the Plan subject to the percentage limitations discussed above. In addition, in no event shall the contributions made by or on behalf of a Participant for a Plan year exceed certain limitations as required by the Employee Retirement Income Security Act of 1974 (ERISA). The Internal Revenue Code also includes provisions which limit the amount of employer contributions which may be made on behalf of any individual Participant. COMPANY CONTRIBUTIONS Currently, the Company matches 50% of each Participant's quarterly contributions to the Plan with Wyman-Gordon Company stock. Amounts eligible for the 50% stock match are limited to 5% of the Participant's salary. The employer may change the 50% matching rate or the 5% of considered pay to any other percentages including 0%. The first quarterly match occurred for the quarter beginning April 1, 1993 and ending June 30, 1993. The Wyman-Gordon stock match for the Company amounted to $2,172,963 and $803,826 in 1996 and 1995, respectively. The Company's wholly-owned subsidiary, Wyman-Gordon Investment Castings, Inc. (WGIC) prior to October 1, 1995, matched 25% of each eligible WGIC Participant's pre-tax contributions for the period, provided no WGIC match contributions were to be made based upon a Participant's contribution in excess of 15% of his or her pay. The maximum dollar match was limited to $270 per Participant for the Plan year. The total WGIC Company match for Plan year 1995 was $106,712. For employees covered by the Labor Agreement with the United Steelworkers of America, Local 2285, subject to the attainment performance goals for each quarter of the fiscal year, the Company shall make Stock Bonus Contributions on behalf of each Participant. R-7 21 Wyman-Gordon Company Savings/Investment Plan NOTES TO FINANCIAL STATEMENTS, (Cont.) PLAN DESCRIPTION, (Cont.) COMPANY CONTRIBUTIONS, (Cont.) The Stock Bonus Contributions for each period shall be allocated among eligible Participants in an equal dollar amount, up to a maximum of $0.25 for each Hour Worked up to a maximum of 40 Hours Worked per week. The dollar amount shall be determined based on the percentage attainment of the pre- determined published quarterly performance goal. Such amount shall be zero if the percentage attainment of such goal is less than 90% and shall be 90% of the $0.25 (the maximum dollar amount) if the percentage attainment is equal to 90%. For each incremental percentage in excess of 90%, the dollar amount shall increase. The Employer shall make each period's Stock Bonus Contribution in cash or in Company Stock. If the Employer elects to make the period's Stock Bonus Contribution in Company Stock, the number of shares of Company Stock to be contributed will be determined by dividing the dollar amount of the Stock Bonus Contribution for the period by the average price of one share of Company Stock during the period. PARTICIPANT ACCOUNTS Each Participant's account is credited with the Participant's contribution and allocation of the Company's contribution, Plan earnings, and forfeitures of terminated Participants' nonvested accounts. Allocations are based on Participant earnings or account balances, as defined. The benefit to which a Participant is entitled is the benefit that can be provided from the Participant's account. INVESTMENT FUNDS Effective as of July 1, 1994, assets from the Cooper Industries, Inc. Savings and Stock Ownership Plan and the Cameron Iron Works, USA, Inc. Savings Investment Plan for Hourly Employees attributable to participants who prior to May 27, 1994, were employees of Cameron Forged Products Company and who on May 27, 1994 became employees of WGFI, a subsidiary of the Company, were transferred to this Plan. The assets included Cooper Common Stock and Cooper Preferred Stock which were held in the Cooper Common Stock Fund and Cooper Preferred Stock Fund, respectively. A Participant's or Beneficiary's existing investment in the Cooper Common Stock Fund and the Cooper Preferred Stock Fund as of July 1, 1994 and earnings thereon may continue to be invested in such Funds until such time as the Participant or Beneficiaries R-8 22 Wyman-Gordon Company Savings/Investment Plan NOTES TO FINANCIAL STATEMENTS, (Cont.) PLAN DESCRIPTION, (Cont.) INVESTMENT FUNDS, (Cont.) otherwise elects to invest such portion of his or her Accounts or the Administrator directs the liquidation of such Funds. The Cooper Common Stock Fund and the Cooper Preferred Stock Fund are not designated as available for investment by Participants or Beneficiaries, except to the extent a Participant or Beneficiary is permitted to exchange all or a portion of his or her investment in the Cooper Preferred Stock Fund for an equivalent investment in the Cooper Common Stock Fund. On December 31, 1995, Barclay Global Investors, N.A. (BGI) acquired Wells Fargo Bank, N.A. As a result of the change in ownership, Wells Fargo Bank, N.A. became MasterWorks, a division of BGI and changed the name of its Funds from "Stagecoach" to "MasterWorks" Funds. LifePath Funds are part of the MasterWorks family of Mutual Funds sponsored and distributed by Stephens, Inc. During 1995, the Plan expanded its investment options to include the Wells Fargo Bond Index Fund, the AIM Constellation Fund, the Neuberger & Berman Guardian Trust Fund and the Templeton Foreign Fund while eliminating the U.S. Treasury Allocation Fund. Participants in the Plan have the following 17 investment funds available: The MasterWorks Asset Allocation Fund seeks to achieve superior long-term gains at reasonable risk by actively shifting investment among common stocks, U.S. Treasury bonds and money market instruments. The investment strategy of the Asset Allocation Fund focuses on the relative attractiveness of asset classes at given points in time. The Fund uses a computerized portfolio selection model to determine the optimum mix among stocks, bonds and money market instruments. There were 650 Participants in the MasterWorks Asset Allocation Fund at December 31, 1996. R-9 23 Wyman-Gordon Company Savings/Investment Plan NOTES TO FINANCIAL STATEMENTS, (Cont.) PLAN DESCRIPTION, (Cont.) INVESTMENT FUNDS, (Cont.) The MasterWorks Bond Index Fund seeks to approximate, as closely as practicable before fees and expenses, the total rate of return of the U.S. market for issued and outstanding U.S. Government and high-grade corporate bonds as measured by the Lehman Brothers Government/Corporate Bond Index (the LB Bond Index). The Fund seeks to achieve its investment objective by investing all of its assets in the Master Series, which has substantially the same investment objective as the Fund. The Master Series seeks to achieve its objective by investing substantially all of its assets in securities included in the LB Bond Index, which is composed of approximately 5,000 issues of fixed-income securities, including U.S. Government securities and investment grade corporate bonds, each with an outstanding market value of at least $25 million and remaining maturity of greater than one year. There were 465 Participants in the Bond Index Fund at December 31, 1996. The MasterWorks S&P 500 Stock Fund seeks to achieve the same total rate of return as the S&P 500 Index. The S&P 500 Stock Fund invests in the same stocks and in substantially the same percentages as the S&P 500 Index. The stocks included in the Fund represent those held by the Index itself and do not reflect subjective options concerning individual companies or industries. There were 1135 Participants in the S&P 500 Stock Fund at December 31, 1996. The MasterWorks Income Accumulation Fund invests in a mix of fixed-rate and variable-rate securities with strong credit ratings. The Fund diversifies its investments by limiting its holdings of any one issuer to 10% of the Fund assets at the time of purchase. This limitation does not apply to the U.S. Government or its agencies. Between 25% and 50% of the Fund is held in publicly traded instruments. There were 947 Participants in the Income Accumulation Fund at December 31, 1996. The MasterWorks Growth Stock Fund seeks to provide investors an above average rate of return as measured against the S&P 500 Index and against similar growth stock funds, through the active management of a diversified portfolio of growth oriented common stocks. The Fund will invest primarily in common stocks that are expected to generate above market rates of growth in revenues and earnings. There were 962 Participants in the Growth Stock Fund at December 31, 1996. R-10 24 Wyman-Gordon Company Savings/Investment Plan NOTES TO FINANCIAL STATEMENTS, (Cont.) PLAN DESCRIPTION, (Cont.) INVESTMENT FUNDS, (Cont.) The AIM Constellation Fund aggressively seeks to increases shareholders' capital by investing principally in common stocks, with emphasis on medium-sized and smaller emerging growth companies. Management of the Fund will be particularly interested in companies that are likely to benefit from new or innovative products, services or processes that should enhance such companies' prospects for future growth in earnings. There were 277 Participants in the AIM Constellation Fund at December 31, 1996. The Neuberger & Berman Guardian Trust is a growth and income fund that emphasizes investments in stocks of established, high-quality companies considered to be undervalued in comparison to stocks to similar companies. There were 156 Participants in the Neuberger & Berman Guardian Trust as of December 31, 1996. The Templeton Foreign Fund - Class I is long-term capital growth, which it seeks to achieve through a flexible policy of investing in stocks and debt obligations of companies and governments outside the United States. There were 125 Participants in the Templeton Foreign Fund - Class I at December 31, 1996. MasterWorks LifePath Funds Each LifePath Fund seeks to provide long-term investors with an asset allocation strategy designed to maximize assets for retirement or for other purposes consistent with the quantitatively measured risk investors, on average, may be willing to accept given their investment time horizon. Specifically: LifePath 2000 Fund is managed for investors planning to retire (or begin to withdraw substantial portions of their investment) approximately in the year 2000. There were 42 Participants in the LifePath 2000 Fund at December 31, 1996. LifePath 2010 Fund is managed for investors planning to retire (or begin to withdraw substantial portions of their investment) approximately in the year 2010. There were 82 Participants in the LifePath 2010 Fund at December 31, 1996. LifePath 2020 Fund is managed for investors planning to retire (or begin to withdraw substantial portions of their investment) approximately in the year 2020. There were 90 Participants in the LifePath 2020 Fund at December 31, 1996. R-11 25 Wyman-Gordon Company Savings/Investment Plan NOTES TO FINANCIAL STATEMENTS, (Cont.) PLAN DESCRIPTION, (Cont.) INVESTMENT FUNDS, (Cont.) LifePath 2030 Fund is managed for investors planning to retire (or begin to withdraw substantial portions of their investment) approximately in the year 2030. There were 58 Participants in the LifePath 2030 Fund at December 31, 1996. LifePath 2040 Fund is managed for investors planning to retire (or begin to withdraw substantial portions of their investment) approximately in the year 2040. There were 48 Participants in the LifePath 2040 Fund at December 31, 1996. The Wyman-Gordon Stock Fund invests in the common stock of Wyman-Gordon Company. Amounts contributed to the Wyman-Gordon Stock Fund may be temporarily invested in other short-term investments pending the purchase of Company stock. This Fund is subject to a relatively high degree of risk because it is not a diversified investment and is subject to any potential volatility in the price of the Company's common stock. There were 2,493 Participants in the Wyman-Gordon Stock Fund at December 31, 1996. The Cooper Common Stock Fund invests in the common stock of Cooper Industries. Amounts contributed to the Cooper Common Stock Fund may be temporarily invested in other short-term investments pending the purchase of Company stock. This Fund is subject to a relatively high degree of risk because it is not a diversified investment and is subject to any potential volatility in the price of the Cooper's common stock. There were 180 Participants in the Cooper Common Stock Fund at December 31, 1996. The Cooper Debenture Fund invests in convertible subordinate debentures of Cooper Industries. Amounts contributed to the Cooper Debenture Fund may be temporarily invested in other short-term investments pending the purchase of Company debentures. This Fund is subject to a relatively high degree of risk because it is not a diversified investment and is subject to any potential volatility in the price of the Cooper's Debentures. There were 73 Participants in the Cooper Debenture Fund at December 31, 1996. R-12 26 Wyman-Gordon Company Savings/Investment Plan NOTES TO FINANCIAL STATEMENTS, (Cont.) PLAN DESCRIPTION, (Cont.) INVESTMENT FUNDS, (Cont.) The Cooper Cameron Common Stock Fund invests in the Common Stock of the Cooper Cameron Corporation ("Cameron"). Amounts contributed to the Cameron Common Stock Fund may be temporarily invested in other short-term investments pending the purchase of Company stock. This Fund is subject to a relatively high degree of risk because it is not a diversified investment and is subject to any potential volatility in the price of Cameron Common Stock. There were 16 Participants in the Cooper Cameron Common Stock Fund at December 31, 1996. DISTRIBUTIONS OF BENEFITS A Participant (or his or her beneficiary in the case of his or her death) may elect to have his or her vested account balance paid to them following their termination of employment with the Company, by submitting a completed distribution election form to the Plan Administrator. A Participant who is a WGFI hourly employee shall be paid in the form of a single lump sum. Notwithstanding, if he or she is a WGFI hourly employee at the time he or she is required by law to commence distribution, or anytime thereafter, may instead elect to be paid annually in a lump sum an amount sufficient to comply with Code section 401(a)(9). A Participant, other than a Participant who is a Wyman-Gordon Forgings, Inc. Hourly Employee, may elect to be paid in any of these forms: (a) a single lump sum, or (b) effective January 1, 1993, a portion paid in a lump sum, and the remainder paid later, or (c) periodic installments over a period not to exceed the life expectancy of the Participant and his or her Beneficiary. Distributions shall be made in cash, except to the extent a distribution consists of a repayment of any participant loan and with regard to a single sum payment, except to the extent a Participant elects payment in the form of whole shares of Company Stock, Cooper Common Stock and Cooper Preferred Stock and cash in lieu of fractional shares to the extent invested in the Company Stock Fund, Cooper Common Stock Fund and Cooper Preferred Stock Fund. R-13 27 Wyman-Gordon Company Savings/Investment Plan NOTES TO FINANCIAL STATEMENTS, (Cont.) PLAN DESCRIPTION, (Cont.) VESTING A Participant shall be fully vested in these Accounts at all times: Pre-Tax Account Pre-Tax Goal Bonus Account Pre-Tax PFP Bonus Account After-Tax Account Rollover Account WGIC Match Account Directed Match Account Employer Account A Participant shall also be fully vested in his or her Company Stock Match Account if (1) his or her hire date is on or before April 1, 1993 and he or she was an Employee of the Company on April 1, 1993 or (2) he or she was employed by WGFI, a subsidiary of the Company, on May 27, 1994, and was previously employed by Cameron Forged Products Company. Notwithstanding, prior to the Effective Date, a Participant's Employer Account became vested in accordance with a vesting schedule then in effect. A Participant's entire Account shall become fully vested once he or she has attained his or her Normal Retirement Date as an Employee or upon his or her leaving the Employer due to his or her Disability or death. In addition to the vesting provided above, a Participant's Company Stock Match Account and Employer Matching Account shall become vested in accordance with the following schedules, unless (1) his or her hire date is on or before April 1, 1993 and he or she was an Employee of the Company on April 1, 1993 or (2) he or she was employed by WGFI, a subsidiary of the Company, on May 27, 1994, and was previously employed by Cameron Forged Products Company: COMPANY STOCK MATCH ACCOUNT "VESTING SCHEDULE"
YEARS OF VESTING SERVICE VESTED PERCENTAGE Less than 1 0% 1 but less than 2 20% 2 but less than 3 40% 3 but less than 4 60% 4 but less than 5 80% 5 or more 100%
R-14 28 Wyman-Gordon Company Savings/Investment Plan NOTES TO FINANCIAL STATEMENTS, (Cont.) PLAN DESCRIPTION, (Cont.) EMPLOYER MATCHING ACCOUNT "VESTING SCHEDULE"
YEARS OF VESTING SERVICE VESTED PERCENTAGE Less than 5 0% 5 or more 100%
If this vesting schedule is changed, the vested percentage for each Participant shall not be less than his or her vested percentage determined as of the last day prior to this change, and for any Participant with at least three Years of Vesting Service when the schedule is changed, vesting shall be determined using the more favorable vesting schedule. WITHDRAWALS Withdrawals may only be made in accordance with the terms of the Plan. Hardship withdrawals of tax deferred contributions and related earnings are subject to approval by the Plan Administrator based upon the Participant's financial need and are subject to IRS limitations. Withdrawal of after-tax contributions, rollover account withdrawals, withdrawals for Participants over age 59 1/2 and withdrawals for certain Company contributions are allowed for amounts up to the extent of Participant's account balance with certain restrictions. PLAN TRUSTEE AND CUSTODIAN The Plan's Trustee and Custodian of its funds is Barclays Global Investors. PARTICIPANT LOANS Participants may borrow, generally, up to the lesser of 50% of their total vested account balance in the Plan or $50,000 less the highest outstanding plan loan balance during the one-year period preceding the date of the new loan. The loans bear interest at market rates and are repaid in regular installments within five years. Early prepayment is allowed. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following is a summary of significant accounting policies followed by the Plan in preparation of its financial statements. The financial statements are prepared in accordance with generally accepted accounting principles: R-15 29 Wyman-Gordon Company Savings/Investment Plan NOTES TO FINANCIAL STATEMENTS, (Cont.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (Cont.) USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. VALUATION OF INVESTMENTS The Plan's investments are stated at fair value. The fair value of investments is generally determined as follows: * Units of Barclays Global Investors N.A. collective investment funds are valued on the basis of the unit value established for each fund at each valuation date. Valuation of the Funds' units occurs, at a minimum, on a monthly basis. Unit values are determined by dividing the value of the Funds' net assets by the number of units outstanding on the valuation date. * Stocks and mutual funds traded on security exchanges are valued at closing market prices on the valuation date. SECURITY TRANSACTIONS AND RELATED INVESTMENT INCOME Security transactions are accounted for on the trade date. Interest income is accounted for on the daily accrual basis. Dividend income is recorded on the ex-dividend date. The cost of securities sold is computed on an average cost basis. INVESTMENT INCOME Net investment income, as earned, is allocated to Participant accounts and reinvested. The Plan presents, in the Statements of Changes in Net Assets Available for Plan Benefits, net appreciation (depreciation) of the fair market value of investments which consists of the realized gains or losses and the unrealized appreciation (depreciation) on those investments. Income from investments is recorded as earned on an accrual basis. PURCHASES AND REDEMPTIONS OF UNITS The value of participating units, upon admission to or withdrawal from the Funds, is based upon the market value of net assets held as of the valuation date. Upon purchase or redemption of units by a Participant, transaction costs incurred for the related security transactions are borne by that Participant. R-16 30 WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN NOTES TO FINANCIAL STATEMENTS, (Cont.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (Cont.) EXPENSES Account maintenance, transaction fees and expenses and investment fund management and maintenance fees are paid by the Plan and charged to the Participants accounts; all other fees are paid by the Company. RECLASSIFICATIONS Where appropriate, prior year amounts have been reclassified to permit comparison. 3. PLAN LIABILITIES Barclays Global Investors uses a daily valuation method whereby all account activity and related transactions take place on the same day as the day of record. Therefore, all benefit payments to Participants or Plan expenses are paid from the various funds on a current basis and at December 31, 1996, there were no accrued liabilities for the Plan.
4. INVESTMENTS The fair value of individual investments that represent 5% or more of the Plan's net assets are as follows: 1996 1995 MasterWorks - Asset Allocation Fund (800,677 shares and 826,272 shares) $ 9,544,075 $ 9,708,700 MasterWorks - Growth Stock Fund (685,102 shares and 626,092 shares 10,495,756 8,677,639 MasterWorks - S&P 500 Stock Fund (1,006,009 shares and 856,984 shares) 16,005,604 11,517,870 MasterWorks - Bond Index Fund (535,607 shares and 613,409 shares) 5,082,911 6,091,149 MasterWorks - Income Accumulation Fund (1,537,337 shares and 1,504,642 shares) 20,201,527 18,688,703 Wyman-Gordon Stock Fund (561,043 shares and 451,718 shares) 18,289,991 9,359,603
R-17 31 WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN NOTES TO FINANCIAL STATEMENTS, (Cont.) 5. RELATED PARTY TRANSACTIONS Certain Plan investments are units of collective investment funds managed by the MasterWorks Division of Barclay Global Investors. Barclay Global Investors is the trustee as defined by the Plan and, therefore, these transactions qualify as party-in-interest. Fees paid by the Plan for the investment management services amounted to $94,665 for the year ended December 31, 1996. 6. OTHER MATTERS During the years ended December 31, 1996 and 1995 there were no loans, fixed income obligations or leases in default or classified as uncollectible by the Plan. R-18 32
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN ADDITIONAL INFORMATION FOR ITEM 27(a) SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AS AT DECEMBER 31, 1996 (b) DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, (a) IDENTITY OF ISSUE RATE OF INTEREST, BORROWERS, LESSOR, OR COLLATERAL PAR (d) CURRENT SIMILAR PARTY OR MATURITY VALUE (c) COST VALUE Barclays Global 83,069 Shares Investors AIM Constellation Fund $ 2,017,399 $ 2,098,316 Barclays Global 53,453 Shares Investors Neuberger & Berman Guardian Trust Fund 766,645 848,304 Barclays Global 72,227 Shares Investors MasterWorks LifePath 2000 Fund 762,737 783,667 Barclays Global 104,131 Shares Investors MasterWorks LifePath 2010 Fund 1,203,923 1,264,152 Barclays Global 79,442 Shares Investors MasterWorks LifePath 2020 Fund 979,155 1,028,771 Barclays Global 17,900 Shares Investors MasterWorks LifePath 2030 Fund 223,815 243,803 Barclays Global 12,763 Shares Investors MasterWorks LifePath 2040 Fund 170,061 184,810 Barclays Global 59,212 Shares Investors Templeton Foreign(I) 583,583 613,439 Barclays Global 800,677 Shares Investors MasterWorks Asset Allocation Fund 8,576,803 9,544,075 Barclays Global 535,607 Shares Investors MasterWorks Bond Index Fund 5,233,167 5,082,911
R-19 33
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN ADDITIONAL INFORMATION FOR ITEM 27(a) SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AS AT DECEMBER 31, 1996 (Continued) (b) DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, (a) IDENTITY OF ISSUE RATE OF INTEREST, BORROWERS, LESSOR, OR COLLATERAL PAR (d) CURRENT SIMILAR PARTY OR MATURITY VALUE (c) COST VALUE Barclays Global 685,102 Shares Investors MasterWorks Growth Stock Fund 9,253,764 10,495,756 Barclays Global 1,006,009 Shares Investors MasterWorks S&P 500 Stock Fund 12,899,893 16,013,721 Barclays Global 1,537,337 Shares Investors MasterWorks Income Accumulation Fund 20,201,528 20,201,528 Barclays Global 561,403 Shares Investors Wyman-Gordon Stock Fund 12,769,983 18,289,991 Barclays Global 83,322 Shares Investors Cooper Common Stock Fund 840,514 1,043,192 Barclays Global 86,901 Shares Investors Cooper Debenture Stock Fund 920,523 1,080,174 Barclays Global 2,279 Shares Investors Cooper Cameron Stock Fund 22,788 102,434 $77,426,281 $88,919,044
R-19A 34
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN ADDITIONAL INFORMATION FOR ITEM 27(d) SUPPLEMENTAL SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1996 (b)DESCRIPTION OF ASSETS (INCLUDE INTEREST (a)IDENTITY OF RATE AND MATURITY (c)PURCHASE (d)SELLING PARTY INVOLVED IN CASE OF A LOAN) PRICE PRICE SERIES (iii) REPORTABLE TRANSACTIONS - SERIES OF TRANSACTIONS IN EXCESS OF 5% OF PLAN ASSETS: Barclays MasterWorks-Income $15,773,143 $ - Global Accumulation Fund $ - $15,307,046 Investors (114 Purchases, 140 Sales) Barclays MasterWorks, Asset $ 2,455,226 $ - Global Allocation Fund $ - $ 2,780,716 Investors (135 Purchases, 105 Sales) Barclays MasterWorks, Bond $ 2,430,536 $ - Global Index Fund $ - $ 3,163,503 Investors (125 Purchases, 92 Sales) Barclays MasterWorks, Growth $ 5,594,110 $ - Global Stock Fund $ - $ 4,666,233 Investors (152 Purchases, 98 Sales) Barclays MasterWorks, S&P 500 $ 9,654,974 $ - Global Stock Fund $ - $ 7,455,577 Investors (144 Purchases, 103 Sales) Barclays Wyman-Gordon Stock $14,417,902 $ - Global Fund (160 Purchases, $ - $11,538,585 Investors 93 Sales)
R-20A 35
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN ADDITIONAL INFORMATION FOR ITEM 27(d) SUPPLEMENTAL SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1996 (h)CURRENT (f)EXPENSE VALUE OF ASSET (e)LEASE INCURRED WITH (g)COST ON TRANSACTION (i)NET GAIN RENTAL TRANSACTION OF ASSET DATE OR (LOSS) SERIES (iii) REPORTABLE TRANSACTIONS - SERIES OF TRANSACTIONS IN EXCESS OF 5% OF PLAN ASSETS: $ - $ - $15,773,143 $15,773,143 $ - $ - $ - $15,307,046 $15,307,046 $ - $ - $ - $ 2,455,226 $ 2,455,226 $ - $ - $ - $ 2,430,085 $ 2,780,716 $ 350,631 $ - $ - $ 2,430,536 $ 2,430,536 $ - $ - $ - $ 3,192,836 $ 3,163,503 $ (29,333) $ - $ - $ 5,594,110 $ 5,594,110 $ - $ - $ - $ 3,922,838 $ 4,666,233 $ 743,395 $ - $ - $ 9,654,974 $ 9,654,974 $ - $ - $ - $ 6,171,767 $ 7,455,577 $1,283,810 $ - $ - $14,417,902 $14,417,902 $ - $ - $ - $ 7,534,150 $11,538,585 $4,004,435
R-20A-1 36
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN ADDITIONAL INFORMATION FOR ITEM 27(d) SUPPLEMENTAL SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1996 (b)DESCRIPTION OF ASSETS (INCLUDE INTEREST (a)IDENTITY OF RATE AND MATURITY (c)PURCHASE (d)SELLING PARTY INVOLVED IN CASE OF A LOAN) PRICE PRICE SERIES (i) REPORTABLE TRANSACTIONS - SINGLE TRANSACTIONS IN EXCESS OF 5% OF PLAN ASSETS: Barclay Global MasterWorks $6,254,581 $ - Investors Income Accumulation (1 Purchase)
R-20B 37
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN ADDITIONAL INFORMATION FOR ITEM 27(d) SUPPLEMENTAL SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1996 (Continued) (h)CURRENT (f)EXPENSE VALUE OF ASSET (e)LEASE INCURRED WITH (g)COST ON TRANSACTION (i)NET GAIN RENTAL TRANSACTION OF ASSET DATE OR (LOSS) SERIES (i) REPORTABLE TRANSACTIONS - SINGLE TRANSACTIONS IN EXCESS OF 5% OF PLAN ASSETS: $ - $ - $6,254,581 $6,254,581 $ -
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