-----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, GnQRAyZ2GenBC3FcxVC4iJ4IZNMHkTGFgKh0vbK8XA2xEH5IogBS+ockOcFbEz3o WXqh+2aknfZlSyfEHn4muA== 0000795425-95-000025.txt : 19951031 0000795425-95-000025.hdr.sgml : 19951031 ACCESSION NUMBER: 0000795425-95-000025 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19951030 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MARK VII INC CENTRAL INDEX KEY: 0000795425 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] IRS NUMBER: 431074964 STATE OF INCORPORATION: MO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-37245 FILM NUMBER: 95585320 BUSINESS ADDRESS: STREET 1: 10100 NW EXECUTIVE HILLS BLVD STREET 2: STE 200 CITY: KANSAS CITY STATE: MO ZIP: 64153 BUSINESS PHONE: 8168910500 FORMER COMPANY: FORMER CONFORMED NAME: MNX INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: MNX TRUCKING DATE OF NAME CHANGE: 19870512 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MARK VII INC CENTRAL INDEX KEY: 0000795425 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] IRS NUMBER: 431074964 STATE OF INCORPORATION: MO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 10100 NW EXECUTIVE HILLS BLVD STREET 2: STE 200 CITY: KANSAS CITY STATE: MO ZIP: 64153 BUSINESS PHONE: 8168910500 FORMER COMPANY: FORMER CONFORMED NAME: MNX INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: MNX TRUCKING DATE OF NAME CHANGE: 19870512 SC 13D/A 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 AMENDMENT NO. 5* MARK VII, INC. (Name of Issuer) Common Stock (Title of Class of Securities) 570414 10 2 (CUSIP Number) Carol Clement Mark VII, Inc. 965 Ridgelake Blvd., Suite 103 Memphis, TN 38115 (901)767-4455 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) July 1, 1995 (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 Rules 13d-1(b)(3) or (4), check the following box [ ]. Check the following box if a fee is being paid with this statement [ ]. *Original Schedule 13D filed on April 11, 1990 was amended by a Schedule 13D filed jointly with Crouch RCE Partnership, Roger Crouch and J. Michael Head and Amendments No. 1, 2 and 3 thereto filed on September 21, 1990, June 17, 1991, June 24, 1992, and November 5, 1992, respectively. CUSIP No. 570414 10 2 1 NAME OF REPORTING PERSON AND ITS S.S. OR I.R.S. IDENTIFICATION NUMBER R. C. Matney ###-##-#### 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3 SEC USE ONLY 4 SOURCE OF FUNDS N/A 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States of America NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 7 SOLE VOTING POWER 459,940 8 SHARED VOTING POWER 459,940 9 SOLE DISPOSITIVE POWER 459,940 10 SHARED DISPOSITIVE POWER 459,940 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 459,940 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES [ X ] Excludes options to purchase 230,750 shares which become exercisable February 3, 1996 through July 1, 1998. 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 9.4% 14 TYPE OF REPORTING PERSON IN The undersigned amends the Schedule 13D filing made on April 11, 1990, as amended, to read in its entirety as follows: Item 1. Security and Issuer. The title of the class of equity securities to which this statement relates is Common Stock and the name and address of the principal executive offices of the Issuer of such securities is Mark VII, Inc., 10100 N.W. Executive Hills Blvd., Suite 200, Kansas City, Missouri 64153. Item 2. Identity and Background. (a) Name of person filing R. C. Matney (b) Business address 201 South Emerson Avenue, Suite 130 Greenwood, Indiana 46143 (c) Present principal occupation or employment Mr. Matney is Chairman of the Board, President and Chief Executive Officer of the Issuer. (d) During the last five years, Mr. Matney has not been convicted in a criminal proceeding. (e) During the last five years, Mr. Matney was not a party to a civil proceeding of a judicial or administrative body of competent jurisdiction resulting in a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Mr. Matney is a citizen of the United States of America. Item 3. Source and Amount of Funds or Other Consideration. Mr. Matney's initial Schedule 13D, filed on April 11, 1990, reported that Mr. Matney acquired 330,430 shares of Common Stock as a result of a merger of Mark VII Acquisition Corporation, a wholly-owned subsidiary of the Issuer, into Mark VII Transportation Company, Inc. ("Mark VII"). Prior to the merger, Mr. Matney owned 3,120 shares of Mark VII which represented all of the issued and outstanding capital stock of such company. Mr. Matney used personal funds in the form of cash to acquire his shares of Mark VII for an average price of $250.00 per share. Upon effectiveness of the merger all of Mr. Matney's shares of stock in Mark VII were automatically cancelled and extinguished and converted into the right to receive 330,430 shares of newly issued Common Stock. As a result of the merger, Mr. Matney acquired a 7% ownership interest in the Issuer and Mark VII became a wholly-owned subsidiary of the Issuer. An initial Schedule 13D for Crouch RCE Partnership (the "Partnership"), Roger M. Crouch, J. Michael Head and Mr. Matney, filed on September 21, 1990, (the "Joint Schedule 13D") reported that Mr. Matney used his personal funds in the form of cash to acquire 80,000 shares of Common Stock, increasing his ownership interest in the Issuer to 8.7%. Amendment No. 1 to the Joint Schedule 13D, filed on June 17, 1991, reported that Mr. Matney sold 75,000 shares of Common Stock in May and June 1991 in two (2) open market transactions and used funds in his IRA account in the form of cash to acquire 9,000 shares of Common Stock in an open market transaction in May 1991. Additionally, 1,898.1909 shares of Common Stock were allocated to Mr. Matney's ESOP account in May 1991. As a result, Mr. Matney decreased his ownership interest in the Issuer to 7.3%. Amendment No. 2 to the Joint Schedule 13D, filed on June 24, 1992, reported that Mr. Matney acquired 29,772 shares of Common Stock from Mr. Head in a private transaction. Mr. Matney used personal funds for such purchase. As a result, Mr. Matney increased his ownership interest in the Issuer to 8.5%. Amendment No. 3 to the Joint Schedule 13D, filed on November 5, 1992, reported that, as of October 26, 1992, Mr. Matney sold to Mr. Crouch 29,772 shares of Common Stock in a private transaction at a per share price of $5-7/16. As a result, Mr. Matney decreased his ownership interest in the Issuer to 7.9%. In December 1992, Mr. Matney used funds in his IRA account in the form of cash to acquire 24,000 shares of Common Stock. In June 1993, Mr. Matney transferred 2,260 shares of Common Stock from his ESOP account to his IRA account. In September 1994, Mr. Matney used funds in his IRA account in the form of cash to acquire 10,000 shares of Common Stock. On December 13, 1994, Mr. Matney transferred ownership of 335,430 shares of Common Stock to the R.C. Matney Living Trust, of which he is sole trustee and beneficiary. On each of February 3, 1993, 1994, and 1995, options to purchase 6,000 shares of Common Stock became exercisable. On July 1, 1994, in connection with an asset sale by the Issuer, Mr. Matney was granted options to purchase up to 250,000 shares of Common Stock at an exercise price equal to $14.00 per share, the closing price on July 1, 1994, to vest over eight yearsat a rate of 31,250 shares per year and to expire five years after the date of vesting. Further information with respect to such options is incorporated herein by reference from "Recent Executive Compensation Changes" on page 11 of the Notice of Annual Meeting of Shareholders and Proxy Statement of the issuer filed with the Commission on August 30, 1994. On July 1, 1995, options to purchase 31,250 shares of Common Stock became exercisable. As a result of these transactions, Mr. Matney increased his ownership interest in the Issuer to 9.4%. Item 4. Purpose of Transaction. The primary purpose of the beneficial ownership by Mr. Matney of the Common Stock to which this statement relates is for his own account, for investment purposes, only and with no present intent, agreement or management to distribute or resell such securities. Except as otherwise described herein, Mr. Matney does not have any plans or proposals which relate to or would result in the following: the acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; an extraordinary corporate transaction, such as a merger, reorganization, or liquidation, involving the Issuer or any of its subsidiaries; a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number of terms of directors or to fill any existing vacancies on the board; any material change in the present capitalization or dividend policy of the Issuer; any other material change in the Issuer's business or corporate structure; changes in the Issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; a call of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934; or any action similar to those enumerated above. In his capacities as President and Chairman of the Board of Directors of the Issuer, however, it is possible that Mr. Matney may at some future date become involved in plans or proposals on behalf of the Issuer and/or this subsidiary of the Issuer with respect to any one or more of the foregoing in the future. Item 5. Interest in Securities of the Issuer. (a) Shares beneficially owned: 459,940, of which 79,250 shares are issuable pursuant to non-qualified stock options granted under the Issuer s 1992 Non-Qualified Stock Option Plan. Excluded from the aggregate number of shares beneficially owned are 230,750 shares issuable pursuant to stock options which become exercisable according to the following schedule: Number of Shares ------------------------ Exercise Non-Qualified Incentive Price ------------- --------- -------- February 3, 1996 6,000 8.25 July 1, 1996 26,786 4,464 14.00 February 3, 1997 6,000 8.25 July 1, 1997 26,786 4,464 14.00 July 1, 1998 26,786 4,464 14.00 July 1, 1999 26,786 4,464 14.00 July 1, 2000 26,786 4,464 14.00 July 1, 2001 26,787 4,463 14.00 July 1, 2002 26,787 4,463 14.00 --------- ------- 199,503 31,246 Percentage of class: 9.4% (b) Mr. Matney has sole power to direct the vote and disposition of all 459,940 shares of Common Stock beneficially owned. (c) On December 13, 1994, Mr. Matney transferred ownership of 335,430 shares of Common Stock to the R.C. Matney Living Trust, of which he is sole trustee and sole beneficiary. (d) No other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities to which this statement relates. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. On September 12, 1990, the Partnership and R. C. Matney verbally formed a group to participate in the acquisition of shares of Common Stock of the Issuer. Pursuant to such verbal understanding, the Partnership (and, following termination of the Partnership, Roger M. Crouch) and Mr. Matney consulted with each other prior to making any acquisitions or dispositions of shares of Common Stock. Mr. Crouch and Mr. Matney were also limited in their ability to transfer Common Stock of the Issuer pursuant to certain restrictions contained in a cross purchase agreement and amendment thereto, which were filed as exhibits to the Schedule 13D filed by Mr. Matney on April 11, 1990 relating to the Common Stock. Effective June 5, 1992, the Partnership was liquidated and its assets were distributed to the partners, Mr. Crouch and J. Michael Head. This group no longer exists and there are no longer any cross purchase obligations between Mr. Crouch and Mr. Matney. Mr. Crouch filed Ammendment No. 4 to Joint Schedule 13D individually on April 6, 1995 relating to the Common Stock and Mr. Head beneficially owns less than 5% of the outstanding Common Stock of the Issuer. Item 7. Material to be Filed as Exhibits Page 11 of the Notice of Annual Meeting and Proxy Statement of the Issuer filed with the Commission on August 30, 1994. 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. Date: October 30, 1995 /s/ R. C. Matney R.C. Matney EX-99 2 to achieve 50% of planned operating income in his business unit, in which case he will receive his base salary and benefits for only one year following the date of termination. Under each of the contracts, the Company's obligation is reduced following an Event of Termination if the terminated executive becomes employed during the payment period. Recent Executive Compensation Changes In connection with the Board of Directors' approval of the Asset Sale, the following changes in executive compensation, that were to have been effective upon the Distribution, were made. Mr. Matney's base salary was increased to $235,000 effective as of July 1, 1994 and he was granted options to purchase up to 250,000 shares of Common Stock at an excercise price equal to $14.00, the closing price on July 1, 1994, to vest over eight years at a rate of 31,250 shares per year and to expire five years after the date of vesting (approximately 50,000 non-qualified stock options of such grant being subject to share-holder approval of the Option Plan Amendment). For the 1994 fiscal year, total annual bonus for Mr. Matney will be a percentage of his base salary, such percentage to be equal to 50% of sum of (i) the percentage by which the increase (if any) in the per share price of the Common Stock from July 1, 1994 to July 1, 1995 exceeds the increase in the per share prices of the common stock of certain other companies in the Company's industry and (ii) the percentage (which if less than 25% will not result in any bonus under clause (ii) and which shall not exceed 100%) by which consolidated income from continuing operations before income taxes for fiscal 1994 exceeds $4,199,325 (the fiscal 1993 amount). Mr. Head assumed the positions of Executive Vice President, Chief Financial Officer and Treasurer of the Company, and was granted options to purchase up to 10,000 shares of Common Stock at an exercise price equal to $14.00, the closing price on July 1, 1994, to vest upon shareholder approval of the Asset Sale and expire five years after the date of grant. Mr Head's employment agreement with the Company has been extended until the second anniversary of the Asset Sale. The Company also increased the base salary of Mr. Wedaman to $150,000 effective as of July 1, 1994. The option grants to Messrs. Matney and Head to purchase up to 250,000 and 10,000 shares of Common Stock, respectively, are subject to shareholder approval of the Asset Sale. Compensation Committee Interlocks and Insider Participation In 1993, Messrs. Head, Oppenheimer and List served on the Company's Compensation Committee. In 1993, Mr. Head was President and Chief Executive Officer of the Company. Mr. Head currently is Executive Vice President, Chief Financial Officer and Treasurer of the Company. Mr. Oppenheimer is President and Chief Executive Officer of HBOC which received fees from the Company totaling $109,170 and $91,600 for financial consulting services performed in 1993 and to date in 1994, respectively, and is expected to receive fees of approximately $735,000 and $280,000 (approximately $75,000 of which is included in the 1993 fees above), respectively, for consulting services rendered in connection with the Assest Sale and arranging financing in connection with the previously proposed Distribution. BOARD COMPENSATION COMMITTEE REPORT ON EXECUTIVE COMPENSATION The Compensation Committee of the Company during 1993 consisted of Messrs. Head and Oppenheimer and, after election to the Board of Directors in May 1993, Mr. List and, prior to not standing for reelection in May 1993, Mr. Clifford W. Illig. The Committee met during the first quarter to review compensation arrangements and consider long term employment agreements for the executive officers of the Company and its subsidiaries. The Committee also met to review the documentation of these agreements. The Committee has not yet adopted a policy with respect to the $1,000,000 limitation of deductibility of executive compensation under Section 162(m) of the Internal Revenue Code of 1986, as amended, since current compensation levels fall well below that amount. The Committee does not expect that the compensation of its executives will reach that threshold in the foreseeable future. -----END PRIVACY-ENHANCED MESSAGE-----