0001140361-16-064548.txt : 20160511 0001140361-16-064548.hdr.sgml : 20160511 20160511151048 ACCESSION NUMBER: 0001140361-16-064548 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20160510 FILED AS OF DATE: 20160511 DATE AS OF CHANGE: 20160511 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: WCI Communities, Inc. CENTRAL INDEX KEY: 0001574532 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 270472098 STATE OF INCORPORATION: DE FISCAL YEAR END: 0609 BUSINESS ADDRESS: STREET 1: 24301 WALDEN CENTER DRIVE CITY: BONITA SPRINGS STATE: FL ZIP: 34134 BUSINESS PHONE: 239-947-2600 MAIL ADDRESS: STREET 1: 24301 WALDEN CENTER DRIVE CITY: BONITA SPRINGS STATE: FL ZIP: 34134 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Stonehill General Partner, LLC CENTRAL INDEX KEY: 0001389016 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36023 FILM NUMBER: 161639632 BUSINESS ADDRESS: STREET 1: 885 THIRD AVENUE STREET 2: 30TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-739-7474 MAIL ADDRESS: STREET 1: 885 THIRD AVENUE STREET 2: 30TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: THOYER MICHAEL CENTRAL INDEX KEY: 0001582442 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36023 FILM NUMBER: 161639634 MAIL ADDRESS: STREET 1: C/O STONEHILL CAPITAL MANAGEMENT LLC STREET 2: 885 THIRD AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: SISITSKY PETER CENTRAL INDEX KEY: 0001454846 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36023 FILM NUMBER: 161639635 MAIL ADDRESS: STREET 1: 885 THIRD AVENUE, 30TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 FORMER NAME: FORMER CONFORMED NAME: SISITISKY PETER DATE OF NAME CHANGE: 20090127 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: WILSON CHRISTOPHER E CENTRAL INDEX KEY: 0001266259 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36023 FILM NUMBER: 161639638 MAIL ADDRESS: STREET 1: 885 THIRD AVE STREET 2: 30TH FL CITY: NEW YORK STATE: NY ZIP: 10022 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: MOTULSKY JOHN CENTRAL INDEX KEY: 0001266230 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36023 FILM NUMBER: 161639639 MAIL ADDRESS: STREET 1: 885 THIRD AVE STREET 2: 30TH FL CITY: NEW YORK STATE: NY ZIP: 10022 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: STONEHILL CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0001266227 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36023 FILM NUMBER: 161639640 BUSINESS ADDRESS: STREET 1: 885 THIRD AVE STREET 2: 30TH FL CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212 739 7474 MAIL ADDRESS: STREET 1: 885 THIRD AVE STREET 2: 30TH FL CITY: NEW YORK STATE: NY ZIP: 10022 FORMER NAME: FORMER CONFORMED NAME: STONEHIL CAPITAL MANAGEMENT LLC DATE OF NAME CHANGE: 20031006 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Stern Michael Lenard CENTRAL INDEX KEY: 0001600910 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36023 FILM NUMBER: 161639633 MAIL ADDRESS: STREET 1: C/O STONEHILL CAPITAL MANAGEMENT LLC STREET 2: 885 THIRD AVE., 30TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: VARKEY THOMAS CENTRAL INDEX KEY: 0001287381 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36023 FILM NUMBER: 161639637 MAIL ADDRESS: STREET 1: 885 THIRD AVE STREET 2: 30TH FL CITY: NEW YORK STATE: NY ZIP: 10022 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Sacks Jonathan S CENTRAL INDEX KEY: 0001388803 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36023 FILM NUMBER: 161639636 MAIL ADDRESS: STREET 1: STONEHILL CAPITAL MANAGEMENT STREET 2: 885 THIRD AVENUE 30TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 4 1 doc1.xml FORM 4 X0306 4 2016-05-10 0 0001574532 WCI Communities, Inc. WCIC 0001266227 STONEHILL CAPITAL MANAGEMENT LLC 885 THIRD AVENUE, 30TH FLOOR NEW YORK NY 10022 1 0 0 1 See Remarks 0001266230 MOTULSKY JOHN C/O STONEHILL CAPITAL MANAGEMENT LLC 885 THIRD AVENUE, 30TH FLOOR NEW YORK NY 10022 0 0 1 1 See Remarks 0001266259 WILSON CHRISTOPHER E C/O STONEHILL CAPITAL MANAGEMENT LLC 885 THIRD AVENUE, 30TH FLOOR NEW YORK NY 10022 0 0 1 0 0001287381 VARKEY THOMAS C/O STONEHILL CAPITAL MANAGEMENT LLC 885 THIRD AVENUE, 30TH FLOOR NEW YORK NY 10022 0 0 0 1 See Remarks 0001388803 Sacks Jonathan S C/O STONEHILL CAPITAL MANAGEMENT LLC 885 THIRD AVENUE, 30TH FLOOR NEW YORK NY 10022 0 0 0 1 See Remarks 0001454846 SISITSKY PETER C/O STONEHILL CAPITAL MANAGEMENT LLC 885 THIRD AVENUE, 30TH FLOOR NEW YORK NY 10022 0 0 0 1 See Remarks 0001582442 THOYER MICHAEL C/O STONEHILL CAPITAL MANAGEMENT LLC 885 THIRD AVENUE, 30TH FLOOR NEW YORK NY 10022 0 0 0 1 See Remarks 0001600910 Stern Michael Lenard C/O STONEHILL CAPITAL MANAGEMENT LLC 855 THIRD AVENUE, 30TH FLOOR NEW YORK NY 10022 0 0 0 1 See Remarks 0001389016 Stonehill General Partner, LLC C/O STONEHILL CAPITAL MANAGEMENT LLC 885 THIRD AVENUE, 30TH FLOOR NEW YORK NY 10022 0 0 1 0 Restricted Stock Unit 2016-05-10 4 M 0 2506 0 D See footnote 0 D See Exhibit 99.1 See Exhibit 99.1 See Exhibit 99.1 Solely for purposes of Section 16 of the Exchange Act, each of Stonehill Capital Management LLC ("Management") and Stonehill General Partner, LLC ("GP"), by virtue of their control of Stonehill Institutional Partners, L.P. ("Partners'), are directors-by-deputization by virtue of Partners' contractual right to designate one member of the board of directors of WCI Communities, Inc. ("WCIC"). Christopher Wilson, a managing member of GP and Management, is a member of WCIC's board of directors. The Power of Attorney given by each of Messrs. Motulsky, Wilson, Varkey, Sacks, Sisitsky, Thoyer and Stern was previously filed with the U.S. Securities & Exchange Commission on February 24, 2014 as an exhibit to a statement on Form 4 filed by Stonehill Capital Management LLC with respect to WCIC and is hereby incorporated by reference. Exhibit List: Exhibit 99.1 - Explanation of Responses Exhibit 99.2 - Joint Filers' Information and Signatures STONEHILL CAPITAL MANAGEMENT LLC, By: /s/ Paul Malek, Authorized Signatory 2016-05-11 EX-99.1 2 s17207720a.htm EXPLANATION OF RESPONSES
 
Designated Filer:
STONEHILL CAPITAL MANAGEMENT LLC
Issuer & Ticker Symbol:
WCI Communities, Inc. [WCIC]
Date of Event Requiring Statement:
May 10, 2016
 
 
Explanation of Responses
 
 
(1)
On February 19, 2015, Management (as defined below), as an affiliate of a non-employee director, was granted restricted stock units by WCI Communities, Inc. (the “Company”).  These restricted stock units vested in their entirety on May 10, 2016, which was the first business day prior to the Company’s annual shareholders’ meeting in 2016.  In accordance with the terms of the grant, the Company paid to the holder a cash amount equal to the fair market value of a number of shares of the Company’s common stock, par value $0.01 per share (“Common Stock”) equal to the number of restricted stock units.  The closing price of the Common Stock on May 10, 2016 was $16.07.
 
(2)
This Form 4 is being filed on behalf of Stonehill Capital Management LLC, a Delaware limited liability company (“Management”), Stonehill General Partner, LLC, a Delaware limited liability company (“GP”) and Messrs. John Motulsky, Christopher Wilson, Thomas Varkey, Jonathan Sacks, Peter Sisitsky, Michael Thoyer and Michael Stern (collectively, the “Reporting Persons”). Messrs. Motulsky, Wilson, Varkey, Sacks, Sisitsky, Thoyer and Stern are managing members of GP and Management and may be deemed to control the Reporting Persons. Each of Management, GP and Messrs. Motulsky, Wilson, Varkey, Sacks, Sisitsky, Thoyer and Stern disclaim beneficial ownership of all shares held directly by Management except to the extent of any indirect pecuniary interest therein.
 
(3)
Restricted Stock Units held directly by Management.
 
 
 EX-99.2 3 s17207720b.htm JOINT FILER INFORMATION AND SIGNATURES
Designated Filer:
STONEHILL CAPITAL MANAGEMENT LLC
Issuer & Ticker Symbol:
WCI Communities, Inc. [WCIC]
Date of Event Requiring Statement:
May 10, 2016
 
 
Joint Filer Information and Signatures
Joint Filers:
 
 
1.
 
Name:  Stonehill General Partner, LLC
   
Address: c/o Stonehill Capital Management LLC, 885 Third Avenue, 30th Floor, New York, New York, 10022
     
STONEHILL GENERAL PARTNER, LLC
 
 
     
By: /s/ Paul Malek                                                   
May 11, 2016
     
Name: Paul Malek
Date
  Title: Authorized Signatory
         
         
 
2.
 
Name:  John Motulsky
 
   
Address: c/o Stonehill Capital Management LLC, 885 Third Avenue, 30th Floor, New York, New York 10022
 
     
By: /s/ Paul Malek, as attorney-in-fact                    
May 11, 2016
     
Name: John Motulsky
Date
         
         
 
3.
 
Name:  Christopher Wilson
 
   
Address: c/o Stonehill Capital Management LLC, 885 Third Avenue, 30th Floor, New York, New York 10022
 
     
By: /s/ Paul Malek, as attorney-in-fact                     
May 11, 2016
     
Name: Christopher Wilson
Date
         
 
 
 
 
 
 
 
4.
 
Name:  Thomas Varkey
 
   
Address: c/o Stonehill Capital Management LLC, 885 Third Avenue, 30th Floor, New York, New York 10022
 
     
By: /s/ Paul Malek, as attorney-in-fact                     
May 11, 2016
     
Name: Thomas Varkey
Date
         
         
 
5.
 
Name:  Jonathan Sacks
 
   
Address: c/o Stonehill Capital Management LLC, 885 Third Avenue, 30th Floor, New York, New York 10022
 
     
By: /s/ Paul Malek, as attorney-in-fact                     
May 11, 2016
     
Name: Jonathan Sacks
Date
         
         
 
6.
 
Name:  Peter Sisitsky
 
   
Address: c/o Stonehill Capital Management LLC, 885 Third Avenue, 30th Floor, New York, New York 10022
 
     
By: /s/ Paul Malek, as attorney-in-fact                     
May 11, 2016
     
Name: Peter Sisitsky
Date
 
 
7.
 
Name:  Michael Thoyer
 
   
Address: c/o Stonehill Capital Management LLC, 885 Third Avenue, 30th Floor, New York, New York 10022
 
     
By: /s/ Paul Malek, as attorney-in-fact                      
May 11, 2016
     
Name: Michael Thoyer
Date
         
         
 
8.
 
Name:  Michael Stern
 
   
Address: c/o Stonehill Capital Management LLC, 885 Third Avenue, 30th Floor, New York, New York 10022
 
     
By: /s/ Paul Malek, as attorney-in-fact                       
May 11, 2016
     
Name: Michael Stern
Date