-----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, WmHpfaQof0KcgfOnXSXbsXSMKZi2mngFXiDjToZOHbwNVkpYoX/8037ynYlAVxWu Ivv3EtTVFgfaMZrVGplUEQ== 0001036050-98-000527.txt : 19980402 0001036050-98-000527.hdr.sgml : 19980402 ACCESSION NUMBER: 0001036050-98-000527 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980401 SROS: NONE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PENNSYLVANIA REAL ESTATE INVESTMENT TRUST CENTRAL INDEX KEY: 0000077281 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 236216339 STATE OF INCORPORATION: PA FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-08048 FILM NUMBER: 98585517 BUSINESS ADDRESS: STREET 1: 455 PENNSYLVANIA AVE STREET 2: STE 135 CITY: FORT WASHINGTON STATE: PA ZIP: 19034 BUSINESS PHONE: 2155429250 MAIL ADDRESS: STREET 1: 455 PENNSYLVANIA AVE STREET 2: STE 135 CITY: FORT WASHINGTON STATE: PA ZIP: 19034 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KORMAN LEONARD I/FA CENTRAL INDEX KEY: 0001021311 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: TWO NESHAMINY INTERPLEX STREET 2: SUITE 305 CITY: TREVOSE STATE: PA ZIP: 19053 BUSINESS PHONE: 2152445179 MAIL ADDRESS: STREET 1: TWO NESHAMINY INTERPLEX STREET 2: SUITE 305 CITY: TREVOSE STATE: PA ZIP: 19053 SC 13D/A 1 SCHEDULE 13D/A, AMENDMENT #4 Securities and Exchange Commission Washington, D.C. 20549 Schedule 13D/A4 Under the Securities Exchange Act of 1934 PENNSYLVANIA REAL ESTATE INVESTMENT TRUST -------------------------------------------- (Name of Issuer) Certificates of Beneficial Interest -------------------------------------- (Title of Class of Securities) 709102 10 7 ---------------- (CUSIP Number) Leonard I. Korman Two Neshaminy Interplex, Suite 305 Trevose, Pennsylvania 19053 _________________________ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) March 25, 1998 -------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box. [ ] The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). NOTE: This Amendment No. 4 to the Schedule 13D filed on February 28, 1986 is - ---- being filed to report a change in beneficial ownership that will terminate the filer's obligation to report.
CUSIP NUMBER: 709102 10 7 PAGE 2 OF 6 PAGES ____________________________________________________________________________________________________________________________________ 1) Names of Reporting Persons; S.S. or I.R.S. Identification Leonard I. Korman ____________________________________________________________________________________________________________________________________ 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b)X - ----------------------------------------------------------------------------------------------------------------------------------- 3) SEC Use Only - ----------------------------------------------------------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) PF - ----------------------------------------------------------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) N/A - ----------------------------------------------------------------------------------------------------------------------------------- 6) Citizenship or Place of Organization U.S. Citizen - ----------------------------------------------------------------------------------------------------------------------------------- Number of 7) Sole Voting Power 243,088 Shares _________________________________________________________________________________________________________________ Beneficially Owned by 8) Shared Voting Power 139,922 Each Reporting _________________________________________________________________________________________________________________ Person With 9) Sole Dispositive Power 243,088 ----------------------------------------------------------------------------------------------------------------- 10) Shared Dispositive Power 139,922 - ----------------------------------------------------------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 383,430 - ----------------------------------------------------------------------------------------------------------------------------------- 12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) N/A - ----------------------------------------------------------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 2.9% - ----------------------------------------------------------------------------------------------------------------------------------- 14) Type of Reporting Persons (See Instructions) IN - -----------------------------------------------------------------------------------------------------------------------------------
CUSIP NUMBER: 709102 10 7 PAGE 3 OF 6 PAGES
This Amendment No. 4, dated March 25, 1998, amends Item 5 of the Schedule 13D, dated February 28, 1986, as amended and supplemented by Amendments No. 1, 2 and 3 thereto, filed by Leonard I. Korman. The changes in beneficial ownership reflected herein will terminate Mr. Korman's obligation to report. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER - --------------------------------------------- (a) The following information is as of March 25, 1998: Mr. Korman beneficially owns 383,430 Certificates of Beneficial Interest, being approximately 2.9% of the Certificates of Beneficial Interest issued and outstanding as of December 31, 1997, as reported by counsel to PREIT, with such beneficial ownership being computed in accordance with Rule 13d-3(d)(1) under the Securities and Exchange Act of 1934, as amended (the "Exchange Act"). Of these Certificates of Beneficial Interest, Mr. Korman owns 243,088 Certificates of Beneficial Interest in his own name, Mr. Korman's wife, Jane Korman, owns 420 Certificates of Beneficial Interest, and the balance of the Certificates of Beneficial Interest are held by the following trusts or foundation, for each of which Mr. Korman serves as a co-trustee and one of which he is also the income beneficiary:
Certificates of Name Beneficial Interest - ----------------------------------------------------------------- ------------------- Hyman Korman Family Foundation 87,570 Trust Established Under Item Seventh of the Will of Max Wm. Korman, deceased, for the Benefit of Leonard Korman (the "Item 7 Trust for Leonard Korman") 10,528 Trust of Hyman Korman, settlor, under Agreement of Trust dated January 1, 1942, sur trust for Judith K. Langsfeld ("1942 Trust for Judith Langsfeld") 6,000 Trust of Hyman Korman, settlor, under Agreement of Trust dated January 1, 1942, sur trust for Joan R. Sohn ("1942 Trust for Joan Sohn") 6,000 Trust of Susan J. Korman under Indenture of Trust dated November 11, 1986 (the "1986 Trust for Susan Korman") 14,913 Trust of Catherine S. Korman under Indenture of Trust dated December 21, 1988 (the "1988 Trust for Catherine Korman") 14,911
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Mr. Korman disclaims beneficial ownership of an aggregate of 140,342 Certificates of Beneficial Interest which are owned by his wife, Jane Korman, and by trusts of which he serves as a fiduciary, except for 10,528 Certificates of Beneficial Interest owned by a trust of which Mr. Korman is a co-trustee and the income beneficiary. Mr. Korman also disclaims membership in any "group" relating to the Shares with any such persons for the purposes of Rule 13d-5 under the Exchange Act. (b) Mr. Korman has sole power to vote and to dispose of 243,088 Certificates of Beneficial Interest, no voting or disposition power over 420 Certificates of Beneficial Interest owned by his wife, Jane Korman, and shared voting and disposition power with respect to 139,922 Certificates of Beneficial Interest, the balance of the Certificates of Beneficial Interest specified in Item 5(a) hereof. The following information is provided with respect to the persons with whom Mr. Korman has shared voting and disposition power: The co-trustees of the Hyman Korman Family Foundation are I. Barney Moss, Berton E. Korman and Steven H. Korman. The co-trustees of the Item 7 Trust for Leonard Korman are Berton E. Korman and Judith K. Langsfeld. The co-trustee of the 1942 Trust for Judith Langsfeld is Berton E. Korman. The co-trustee of the 1942 Trust for Joan Sohn is Sarah R. Moss. The co-trustees of the 1986 Trust for Susan Korman are Jane Korman and Susan Korman Schurr. The co-trustees of the 1988 Trust for Catherine Korman are Jane Korman and Catherine Korman Altman. Each of the co-trustees is a United States citizen and has a business address at Two Neshaminy Interplex, Suite 307, Trevose, Pennsylvania 19053. To the knowledge of Leonard I. Korman, none of the co-trustees has during the last five years been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or state securities laws or funding any violation with respect to such laws.
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The principal occupation of Berton E. Korman is President of Korman Residential Properties, Inc.; and the principal occupation of Steven H. Korman is President of Korman Communities. Catherine Korman Altman is employed by Korman Commercial Properties. Korman Commercial Properties, Korman Residential Properties, Inc. and Korman Communities are each located at Two Neshaminy Interplex, Suite 307, Trevose, Pennsylvania 19053 and are each engaged in various phases of real estate activity. I. Barney Moss is retired. Judith Langsfeld, Sarah Moss, Jane Korman and Susan Korman Schurr are not employed outside the home. (c) Since the filing of Amendment No. 3 to Schedule 13D filed by Mr. Korman on August 20, 1996, his most recent filing on Schedule 13D, Mr. Korman ceased to be the "beneficial owner" (as defined in Rule 13d-3(d)(1) under the Exchange Act) of 87,984 Certificates of Beneficial Interest held in certain trusts for which Mr. Korman serves as co-trustee and 2,351 Certificates of Beneficial Interest previously held in a trust for which Mr. Korman served as co-trustee but which trust was terminated and the Certificates transferred to the beneficiary of such trust.
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SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. DATED: March 25, 1998 /s/ Leonard I. Korman ----------------------------- Leonard I. Korman -----END PRIVACY-ENHANCED MESSAGE-----