FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
CALIFORNIA COASTAL COMMUNITIES INC [ CALC ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 07/22/1998 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock | 07/22/1998 | P | 3,583 | A | $29,559.75 | 1,670,526 | I | See footnote 1.(1) | ||
Common Stock | 07/22/1998 | P | 235,852 | A | $1,945,779 | 1,906,378 | I | See footnote 1. | ||
Common Stock | 07/22/1998 | P | 23,493 | A | $193,817.25 | 1,929,871 | I | See footnote 1. | ||
Common Stock | 07/22/1998 | P | 813 | A | $6,707.25 | 1,930,684 | I | See footnote 1. | ||
Common Stock | 03/07/2005 | S | 300,000 | D | $0(2) | 1,630,683(3) | I | See footnote 4.(4) |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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Explanation of Responses: |
1. Reporting Person, acting through its subsidiary, ING Baring (U.S.) Capital Corporation ("ING Baring"), acquired the shares of common stock of California Coastal Communities Inc. (the "Company") reported herein on September 2, 1997 and July 28, 1998 in the transactions reported on the Form 3 and the amended and restated Schedule 13D, each filed on the same date this Form 4 is filed by the Reporting Person in respect of the shares of common stock of the Company. ING Capital LLC, acting as investment manager on behalf of ING Middenbank Curacao N.V., is the beneficial owner of the common stock of the Company previously held by ING Baring. ING Groep N.V. is the indirect parent company of ING Capital LLC through a chain of wholly-owned subsidiaries. |
2. ING Capital LLC, acting as investment manager on behalf of ING Middenbank Curacao N.V., and Mercury Targeted Securities Fund LP entered into that certain forward sale agreement dated March 7, 2005 (the "FSA"). Under the FSA, ING Capital LLC has agreed to sell, and Mercury Targeted Securities Fund LP has agreed to buy, 300,000 shares of California Coastal Communities Inc. common stock on a date to be determined in accordance with the terms of the FSA, but no later than June 30, 2005. |
3. Reflects (x) the disposition of the 300,000 shares to be sold pursuant to the FSA and (y) an adjustment made by the Company for fractional shares. |
4. ING Groep N.V. is the indirect parent company of ING Capital LLC through a chain of wholly-owned subsidiaries. Geoffrey W. Arens has been a director of California Coastal Communities Inc. since April 5, 2004. Mr. Arens is a Managing Director of ING Capital LLC. Mr. Arens is also Chief Executive Officer of ING Capital Advisors, LLC. |
Remarks: |
Reporting Owner Name/Address: ING Capital LLC, 1325 Avenue of the Americas, New York, NY 10019. |
Cornelis Blokbergen | 03/17/2005 | |
Rien K. Pijpers | 03/17/2005 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** 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 is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |