-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, SPWhwupohxhoaJrB3lcwx07pJ0KOWL0eTklzdw5cMpkjuye1E3kkW2c1kcd39ROi YqwG08fkcdhc6LBl4sEYtg== 0000085149-94-000009.txt : 19940702 0000085149-94-000009.hdr.sgml : 19940702 ACCESSION NUMBER: 0000085149-94-000009 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19940129 FILED AS OF DATE: 19940624 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ROSES STORES INC CENTRAL INDEX KEY: 0000085149 STANDARD INDUSTRIAL CLASSIFICATION: 5331 IRS NUMBER: 560382475 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-00631 FILM NUMBER: 94535721 BUSINESS ADDRESS: STREET 1: PO DRAWER 947 STREET 2: 218 S GARNETT ST CITY: HENDERSON STATE: NC ZIP: 27536 BUSINESS PHONE: 9194302600 10-K/A 1 VIP FILING Item 14(a) 3 Exhibits have been amended to include exhibit 99. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-K/A (Mark One) (X) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 29, 1994 OR ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No 0-631 ROSE'S STORES, INC. (Exact name of registrant as specified in its charter) Delaware 56-0382475 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification Number) 218 S. Garnett Street 27536 Henderson, NC (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (919) 430-2600 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange Title of Each Class on which registered NONE NONE Securities registered pursuant to Section 12(g) of the Act: Voting Common Stock, No Par Value Non-Voting Class B Stock, No Par Value Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ( X ) As of April 22, 1994, 8,262,420 Voting Common shares and 10,495,586 Non-Voting Class B shares were outstanding, and the aggregate market value of the Voting Common shares (based upon the quoted closing price of these shares on that date) of Rose's Stores, Inc. held by nonaffiliates was approximately $2,397,447. NOTE: Part IV, Item 14 is included. PAGE PART IV ITEM 14: EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K (a) 3. EXHIBITS Exhibit No. Page 10.1 The Registrant's Equity Compensation Plan Incorporated (incorporated by reference to the identified by reference exhibit under the Registrant's Quarterly Report on Form 10-Q for its fiscal quarter ended October 26, 1991) 10.2 First Amendment to Equity Compensation Plan Previously Filed 10.3 Second Amendment to Equity Compensation Plan Previously Filed 10.4 The Registrant's Variable Investment Plan CE (the "Plan"), as amended and restated effective January 1, 1989. 10.5 The Registrant's Employment Agreement with Incorporated George L. Jones (incorporated by reference by reference to Exhibit 19 to Registrant's Quarterly Report on Form 10-Q for the Quarter Ended October 26, 1991 dated December 9, 1991). 10.6 Loan Agreement dated September 20, 1993 Incorporated between the Registrant and General Electric by reference Capital Corporation (Incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 10-K dated September 20, 1993). 10.7 The Registrant's Severance Program, as CE adopted effective March 24, 1994 pursuant to order of the Bankruptcy Court presiding over the Registrant's proceeding under chapter 11 of Title 11 of the United States Code (the "Court") 10.8 The Registrant's obligations with respect to CE the compensation of its officers and directors as specified in the following orders of the Court: (a) Order Authorizing Compensation of Senior Vice Presidents (dated November 18, 1993) (b) Order Authorizing Compensation of Executive Vice Presidents (dated November 18, 1993) (c) Order Authorizing Compensation of Vice Presidents and Treasurer (dated November 18, 1993) (d) Order Authorizing Compensation of George L. Jones (dated November 18, 1993) (e) Order Continuing Compensation of Chairman of the Board of Directors Pending Hearing (dated November 18, 1993) (f) Order Authorizing Payment of Compensation to Directors (dated November 18, 1993) 23. Consent of Independent Certified Public CE Accountants 99. Annual Report for the Rose's Stores, Inc. CE Variable Investment Plan for the year ended December 31, 1993. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 11-K (Mark One) (X) ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1993 OR ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No 0-631 ROSE'S STORES, INC. VARIABLE INVESTMENT PLAN ROSE'S STORES, INC. 218 S. Garnett Street Henderson, NC 27536 Exhibit No. Page 23 Consent of Independent Certified Public CE Accountants 99 Annual Report for the Rose's Stores, CE Inc. Variable Investment Plan for the Year ended December 31, 1993 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan Administrator, Rose's Stores, Inc., has duly caused this annual report to be signed by the undersigned, thereunto duly authorized. ROSE'S STORES, INC. VARIABLE INVESTMENT PLAN BY:(signature of Tom Dowd) Tom Dowd Vice President, Human Resources Date: June 24, 1994 CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS The Board of Directors Rose's Stores, Inc. We consent to incorporation by reference in the registration statement (No.33-45094) on Form S-8 of Rose's Stores, Inc. of our report dated April 28, 1994 relating to the statements of net assets available for Plan benefits as of December 31, 1993 and 1992 and the related statements of changes in net assets available for Plan benefits for each of the years in the three-year period ended December 31, 1993 of Rose's Stores,Inc. Variable Investment Plan and the related supplemental schedules 1, 2 and 3 for the year ended December 31, 1993 which report appears in the December 31, 1993 report on Form 11-K of Rose's Stores, Inc. Variable Investment Plan. Our report dated April 4, 1994, contains an explanatory paragraph that states that the Company's Chapter 11 filing, the leveraged financial structure, and recurring net losses resulting in the substantial elimination of stockholders' equity, raise substantial doubt about the Company's ability to continue as a going concern. Our report also included an explanatory paragraph indicating that the Company adopted Statement of Financial Accounting Standards No. 106 in 1992 and changed its method of determining retail price indices used in the valuation of LIFO inventories in 1991. Raleigh, North Carolina KPMG Peat Marwick June 24, 1994 PAGE ROSE'S STORES, INC. VARIABLE INVESTMENT PLAN Financial Statements and Schedules December 31, 1993 and 1992 (With Independent Auditors' Report Thereon) PAGE INDEPENDENT AUDITORS' REPORT Advisory Committee, Variable Investment Plan Rose's Stores, Inc.: We have audited the accompanying statements of net assets available for plan benefits of the Rose's Stores, Inc. Variable Investment Plan (the "Plan") as of December 31, 1993 and 1992 and the related statements of changes in net assets available for plan benefits for each of the years in the three-year period ended December 31, 1993. 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 Plan as of December 31, 1993 and 1992 and the changes in net assets available for plan benefits for each of the years in the three-year period ended December 31, 1993 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 supplemental Schedules 1, 2 and 3 are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedules have been subjected to the auditing procedures applied in the audit 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. KPMG Peat Marwick April 28, 1994 ROSE'S STORES, INC. VARIABLE INVESTMENT PLAN Statements of Net Assets Available for Plan Benefits December 31, 1993 and 1992
1993 Biltmore Guaranteed Diversified Rose's Fixed Income Equity Stock Temporary Income Fund Fund Fund Fund Fund Total Assets: Investments at current value: Variable rate deposits - BB&T Bank $7,471,673 - - - - Fidelity Magellan Equity Fund - 4,330,180 - - - Common stock of Rose's Stores, Inc. - - 117,362 - - Biltmore Fixed Income Fund - - - - 720,594 Money market funds - - 59,900 68,579 - Loans to participants - - - 788,721 - Net investments 7,471,673 4,330,180 177,262 857,300 720,594 Cash - - 52 95 29 Employee contributions receivable - - - 124,086 - Accrued income receivable 24,725 - 164 459 - Total assets 7,496,398 4,330,180 177,478 981,940 720,623 Net assets available for plan benefits $7,496,398 4,330,180 177,478 981,940 720,623
See accompanying notes to financial statements. PAGE ROSE'S STORES, INC. VARIABLE INVESTMENT PLAN Statements of Net Assets Available for Plan Benefits, Continued December 31, 1993 and 1992
1992 Guaranteed Diversified Rose's Wachovia Income Equity Stock Temporary Bond Fund Fund Fund Fund Fund Total Tot Assets: Investments at current value: Variable rate deposits - Crestar Bank $8,164,087 - - - - 8,164,087 Fidelity Magellan Fund - 3,224,692 - - - 3,224,691 Common stock of Rose's Stores, Inc. - - 986,869 - - 986,869 Wachovia Bond Fund - - - - 444,783 444,783 Money market funds - - 24,600 87,400 - 112,000 Loans to participants - - - 795,715 - 795,715 Net investments 8,164,087 3,224,692 1,011,469 883,115 444,783 13,728,146 Cash - - 83 17,738 29 17,850 Employee contributions receivable - - - 167,914 - 167,914 Unallocated income receivable - - - 56,515 - 56,515 Accrued income receivable 868 285,059 79 522 3,332 289,860 Total assets 8,164,955 3,509,751 1,011,631 1,125,804 448,144 14,260,285 Net assets available for plan benefits $8,164,955 3,509,751 1,011,631 1,125,804 448,144 14,260,285
See accompanying notes to financial statements. ROSE'S STORES, INC. VARIABLE INVESTMENT PLAN Statements of Changes in Net Assets Available for Plan Benefits Years ended December 31, 1993, 1992 and 1991 1993
Wachovia Bond/ Biltmore Guaranteed Diversified Rose's Fixed Life Income Equity Stock Temporary Income Insurance Fund Fund Fund Fund Fund Option Total Additions to net assets attributed to: Investment income: Net appreciation (depreciation) in fair value of investments $ - 454,382 (878,689) - 7,193 - (417,114) Dividends - 411,565 - - 45,115 - 456,680 Interest 304,855 - 1,050 3,562 - - 309,467 304,855 865,947 (877,639) 3,562 52,308 - 349,033 Employee contributions and roll-overs - - - 1,586,451 - 128,251 1,714,702 Other - - - 74,821 - - 74,821 Total additions 304,855 865,947 (877,639) 1,664,834 52,308 128,251 2,138,556 Deductions from net assets attributed to: Plan benefits paid - - 100,280 2,463,611 - - 2,563,891 Insurance premiums paid - - - - - 128,251 128,251 Other - - - 80 - - 80 Total deductions - - 100,280 2,463,691 - 128,251 2,692,222 Net transfers of assets among funds (973,412) (45,518) 143,766 654,993 220,171 - - Net increase (decrease) (668,557) 820,429 (834,153) (143,864) 272,479 - (553,666) Net assets available for plan benefits: Beginning of year 8,164,955 3,509,751 1,011,631 1,125,804 448,144 - 14,260,285 End of year $ 7,496,398 4,330,180 177,478 981,940 720,623 - 13,706,619
See accompanying notes to financial statements. PAGE ROSE'S STORES, INC. VARIABLE INVESTMENT PLAN Statements of Changes in Net Assets Available for Plan Benefits, Continued Years ended December 31, 1993, 1992 and 1991
1992 Guaranteed Diversified Rose's Wachovia Life Income Equity Stock Temporary Bond Insurance Fund Fund Fund Fund Fund Option Total Additions to net assets attributed to: Investment income: Net appreciation (depreciation) in fair value of investments $ - (67,063) (25,872) - 22,252 - (70,863) Dividends - 296,016 - - 19,351 - 315,367 Interest 458,263 - 944 5,941 3,605 - 468,753 458,263 228,953 (24,928) 5,941 45,208 - 713,437 Employee contributions and roll-overs - - 456 1,985,643 68,099 163,719 2,217,917 Other - - - 89,132 - - 89,132 Total additions 458,263 228,953 (24,472) 2,080,716 113,307 163,719 3,020,486 Deductions from net assets attributed to: Plan benefits paid - - 139,280 2,622,492 - - 2,761,772 Insurance premiums paid - - - - - 163,719 163,719 Total deductions - - 139,280 2,622,492 - 163,719 2,925,491 Net transfers of assets among funds (1,350,840) 140,419 84,192 791,392 334,837 - - Net increase (decrease) (892,577) 369,372 (79,560) 249,616 448,144 - 94,995 Net assets available for plan benefits: Beginning of year 9,057,532 3,140,379 1,091,191 876,188 - - 14,165,290 End of year $8,164,955 3,509,751 1,011,631 1,125,804 448,144 - 14,260,285
See accompanying notes to financial statements. ROSE'S STORES, INC. VARIABLE INVESTMENT PLAN Statements of Changes in Net Assets Available for Plan Benefits, Continued Years ended December 31, 1993, 1992 and 1991
1991 Guaranteed Diversified Rose's Life Income Equity Stock Temporary Insurance Fund Fund Fund Fund Option Total Additions to net assets attributed to: Investment income: Net appreciation (depreciation) in fair value of investments $ - 872,520 275,967 - - 1,148,487 Dividends - 54,148 - - - 54,148 Interest 675,791 14 454 10,567 - 686,826 675,791 926,682 276,421 10,567 - 1,889,461 Employee contributions and roll-overs 132,152 38,057 37,932 1,828,171 203,321 2,239,633 Other - - - 7,678 - 7,678 Total additions 807,943 964,739 314,353 1,846,416 203,321 4,136,772 Deductions from net assets attributed to: Plan benefits paid - - 20,751 1,840,587 - 1,861,338 Insurance premiums paid - - - - 203,321 203,321 Total deductions - - 20,751 1,840,587 203,321 2,064,659 Net transfers of assets among funds 5,909 (181,823) 67,597 108,317 - - Net increase (decrease) 813,852 782,916 361,199 114,146 - 2,072,113 Net assets available for plan benefits: Beginning of year 8,243,680 2,357,463 729,992 762,042 - 12,093,177 End of year $9,057,532 3,140,379 1,091,191 876,188 - 14,165,290
See accompanying notes to financial statements. ROSE'S STORES, INC. VARIABLE INVESTMENT PLAN Notes to Financial Statements December 31, 1993 and 1992 (l)Summary of Significant Accounting Policies (a) Basis of Presentation The accompanying financial statements of the Rose's Stores, Inc. Variable Investment Plan (the Plan) have been prepared on an accrual basis and present the net assets available for those net assets. (b) Investments in Securities Investments in marketable securities are stated at current value based on quotations obtained from national securities exchanges or brokerage firms. The cost basis of marketable securities is average cost for the Fidelity Magellan Fund and first-in first-out (FIFO) for Rose's Stores, Inc. common stock. Securities transactions are recognized on the trade date (the date the order to buy or sell is executed). (c) Reconciliation to Form 5500 The accompanying financial statements at December 31, 1993 and 1992 show benefits payable to participants who have withdrawn from the Plan as a component of net assets available for plan benefits, while Form 5500 reflects such amounts as a liability of the plan. Benefits payable of $334,714 and $211,731 are included in net assets available for plan benefits as of December 31, 1993 and 1992, respectively. (2) Description of the Plan The Plan is a defined-contribution plan sponsored by Rose's Stores,Inc. (Rose's) and is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). All Rose's employees are eligible to participate in the Plan after one year of continuous employment in which they have worked at least 1,000 hours and upon reaching 21 years of age. Effective January 1, 1991, the Plan was amended to adopt the "safe harbor" minimum coverage provisions of the Internal Revenue Code, and eliminated life insurance as a new investment option effective December 31, 1991. Participants, who were enrolled in the life insurance option prior to the Plan's amendment were allowed to continue with this investment option. In addition, the amendment envisages elimination of the PAYSOP provisions of the Plan upon receipt of a favorable private letter ruling from the Internal Revenue Service providing approval for the termination of the PAYSOP provision. The Plan currently offers three investment options for employee contributions. The Guaranteed Income Fund, the Diversified Equity Fund, and the Biltmore Fixed Income Fund. Participants may change their elections monthly. Due to the Plan sponsor's filing of Chapter 11 bankruptcy, the Rose's Stock Fund has not been available as an investment option since September 1, 1993. During 1993, Rose's filed for Chapter 11 bankruptcy. The Company is currently preparing its plan of reorganization. It is envisaged that the Plan will involve a large reduction in the Company's workforce, and therefore there may be a decrease in employee contributions to the Plan and a large number of disbursements from the Plan during 1994. (2) Description of the Plan, Continued Each participant's account is credited with the participant's contribution and an allocation of Rose's contribution, if any, and Plan earnings. Allocations are based on participant compensation or account balances as defined in the Plan. Participants are fully vested in their accounts at all times. The Plan permits withdrawals in the event of termination of employment, disability, death, age 59-l/2 or retirement. Withdrawals may also be made to meet certain financial hardships, as defined. In the event the Plan is terminated, the Trustee will assume full responsibility for the management and administration of the Plan. Upon termination of the Plan, participants may elect to receive benefits immediately, or may elect to defer benefits until they terminate their employment with Rose's or reach retirement age. (3) Contributions Employer contributions to the Plan are discretionary. The contribution for any plan year may not exceed the net earnings of Rose's Stores, Inc. For the years ending December 31, 1993, 1992 and 1991, Rose's Stores, Inc. made no contributions to the Plan. Participants may contribute up to 20% of their gross annual wages. (4) Investments The following investments exceeded 5% of the Plan's net assets at December 31, 1993:
Market Investment Cost value BB&T Bank - Variable rate deposits $ 7,471,673 7,471,673 Fidelity Magellan Equity Fund 3,613,287 4,330,180 Biltmore Fixed Income Fund 730,611 720,594
The Plan's investments are administered by Central Carolina Bank & Trust Company, N.A. During the years ended December 31, 1993, 1992 and 1991, the Plan had the following net appreciation (depreciation) in its investments:
1993 1992 1991 Fidelity Magellan Fund $ 454,382 (67,063) 872,520 Common stocks - Rose's Stores, Inc. non-voting Class B (878,689) (25,872) 275,967 Wachovia Bond/Biltmore Fixed Income Fund 7,193 22,252 - $(417,114) (70,683) 1,148,487
(5) Loans to Participants The Plan permits participants to borrow 50% of their account balance, up to $50,000. These loans must be repaid through payroll deductions over-a period not to exceed four and one-half years. Prior to January 1, 1993, the interest rate to be paid on the amounts borrowed was equal to the average interest rate of the Home Equity Loan Rate at the five major commercial banks in the area at the time of the loan. The interest rate for monies borrowed in 1993 was equal to the average prime rate at the sponsor's bank, plus one (5) Loans to Participants, Continued percent. At December 31, 1993 and 1992, there were $788,721 and $795,715 in loans outstanding, respectively. These loans bear interest at rates ranging from 6.15% to 12.0% and are due through 1998. (6) Related Party Transactions The Plan owned 234,723 and 239,241 shares of Rose's Stores, Inc. non- voting Class B stock at December 31, 1993 and 1992, respectively. The stock was purchased at prevailing market prices. The plan received no dividends from Rose's Stores, Inc. during the three year period ended December 31, 1993. All expenses of the Plan were paid by the plan sponsor, Rose's Stores, Inc. in 1993, 1992 and 1991. (7) Federal Income Taxes The Internal Revenue Service issued its latest determination letter on May 7, 1993 which stated that the Plan and its underlying trust qualify under the applicable provisions of the Internal Revenue Code and are therefore exempt from federal income taxes. Schedule 1 ROSE'S STORES, INC. VARIABLE INVESTMENT PLAN Item 27a - Schedule of Assets Held for Investment Purposes December 31, 1993
Par value Identity of party and Market or shares description of assets Cost value Variable rate deposits: - BB&T Bank $ 7,471,673 7,471,673 61,117.6 Mutual fund investment: Fidelity Magellan Fund 3,613,287 4,330,180 - Biltmore Fixed Income Fund 730,611 720,594 234,723 Common stock: *Rose's Stores, Inc. - non-voting Class B 1,082,758 117,362 - Money market funds: Employee Benefit Money Market 128,479 128,479 - Loans to participants with interest rates ranging from 6.15% to 12.0% with paymens due through 1998 788,721 788,221 Total assets held for investment purposes $13,815,529 13,557,009
*Denotes party-in-interest. PAGE Schedule 2 ROSE'S STORES, INC. VARIABLE INVESTMENT PLAN Item 27d - Schedule of Reportable Transactions (1) Year ended December 31, 1993
Aggregate cost Aggregate Aggregate of assets Net purchase selling sold or realized Identity of party and price price distributed gain description of assets (2)(3) (2)(3) (2) (loss) Crestar Bank - Variable Rate Deposits $ - 8,164,087 8,164,807 - BB&T - Variable Rate Deposits 8,630,580 1,158,907 1,158,907 - Fidelity Magellan Fund, Inc. 1,019,500 368,394 302,383 66,011 Biltmore Fixed Income Fund 743,298 12,761 12,687 74 Wachovia Fixed Income Fund 267,919 729,838 702,021 27,817 Employee Benefit Money Market Fund 3,636,300 3,619,821 3,619,821 -
(1) This schedule presents transactions in any security where the aggregate of such transactions in that security exceeds five percent of plan assets at January 1, 1993. (2) The value of securities at the time of purchase or sale is the market value. (3) Brokerage commissions are included in purchase prices and deducted from sales proceeds. Schedule 3 ROSE'S STORES, INC. VARIABLE INVESTMENT PLAN Item 27e - Schedule of Nonexempt Transactions (1) Year ended December 31, 1993
Aggregate cost Aggregate Aggregate of assets Current purchase selling sold or Net value Identity of party and price price distributed realized of description of assets (2)(3) (2)(3) (2) (loss) asset Rose's Stores, Inc. - non-voting Class B Trustee purchased and sold shares $ 230,434 120,971 717,291 (596,320) 117,362
(1) This schedule presents party in interest transactions that are considered nonexempt by the Department of Labor's Rules and Regulations under the Employee Retirement Income Security Act of 1974. (2) The value of securities at the time of purchase or sale is the market value. (3) Brokerage commissions are included in purchase prices and deducted from sales proceeds. -----END PRIVACY-ENHANCED MESSAGE-----