-----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, WtHdQuKXb41QSYyvAy8z6+/KX68ISZ7z40oLuhnAdVAgt11wDVMBTZwBDGR4qH+k BQY/PArmGRNDgNFDUKJs4A== 0000930661-97-001627.txt : 19970630 0000930661-97-001627.hdr.sgml : 19970630 ACCESSION NUMBER: 0000930661-97-001627 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970627 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMPUSA INC CENTRAL INDEX KEY: 0000880323 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-COMPUTER & COMPUTER SOFTWARE STORES [5734] IRS NUMBER: 752261497 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11566 FILM NUMBER: 97631544 BUSINESS ADDRESS: STREET 1: 14951 N DALLAS PKWY CITY: DALLAS STATE: TX ZIP: 75240 BUSINESS PHONE: 2149824000 MAIL ADDRESS: STREET 1: 14951 NORTH DALLAS PKWY CITY: DALLAS STATE: TX ZIP: 75240 11-K 1 FORM 11-K Securities and Exchange Commission Washington, D.C. 20549 Form 11-K (x) Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 (Fee Required) For the fiscal year ended December 31, 1996 OR ( ) Transition Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 (No Fee Required) Commission file number 1-11566 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: CompSavings Plan for Employees of CompUSA Inc. B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: CompUSA Inc. 14951 N. Dallas Parkway Dallas, Texas 75240 CompSavings Plan for Employees of CompUSA Inc. Financial Statements and Supplemental Schedules Years ended December 31, 1996 and 1995 CONTENTS Report of Independent Auditors............................... 1 Audited Financial Statements Statements of Net Assets Available for Benefits.............. 2 Statements of Changes in Net Assets Available for Benefits... 3 Notes to Financial Statements................................ 4 Supplemental Schedules Line 27(a)-Schedule of Assets Held for Investment Purposes... 15 Line 27(d)-Schedule of Reportable Transactions............... 16 Report of Independent Auditors The CompSavings Plan Committee CompSavings Plan for Employees of CompUSA Inc. We have audited the accompanying statements of net assets available for benefits of the CompSavings Plan for Employees of CompUSA Inc. (the Plan) as of December 31, 1996 and 1995, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Company'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 benefits of the Plan at December 31, 1996 and 1995, and the changes in its net assets available for benefits for the years then ended in conformity with generally accepted accounting principles. Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The accompanying supplemental schedules of assets held for investment purposes as of December 31, 1996, and reportable transactions for the year then ended, are presented for purposes of complying with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 and are not a required part of the basic financial statements. The supplemental schedules have been subjected to the auditing procedures applied in our audit of the 1996 basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the 1996 basic financial statements taken as a whole. /s/ ERNST & YOUNG LLP ERNST & YOUNG LLP Dallas, Texas June 23, 1997 1 CompSavings Plan for Employees of CompUSA Inc. Statements of Net Assets Available for Benefits
DECEMBER 31 1996 1995 ----------------------- ASSETS Investments at fair value $11,215,905 $3,704,312 Contributions receivable: Participants 269,213 139,304 Employer 1,445,751 1,084,158 ----------------------- 1,714,964 1,223,462 Employee loans receivable 567,859 -- ----------------------- Total assets 13,498,728 4,927,774 ----------------------- LIABILITIES Excess contributions payable to participants 385,145 204,977 ----------------------- Net assets available for benefits $13,113,583 $4,722,797 =======================
See accompanying notes. 2 CompSavings Plan for Employees of CompUSA Inc. Statements of Changes in Net Assets Available for Benefits
YEAR ENDED DECEMBER 31 1996 1995 ------------------------ Investment income: Net appreciation in fair value of investments $ 2,690,726 $ 279,778 Interest 63,906 11,350 ------------------------ 2,754,632 291,128 Contributions: Participants-pretax 4,551,162 3,246,577 Participants-rollover 514,987 269,121 Employer-participant directed 361,437 271,040 Employer-non-participant directed 1,084,313 813,118 ------------------------ 6,511,899 4,599,856 ------------------------ Total additions 9,266,531 4,890,984 Withdrawals by participants (875,745) (168,187) ------------------------ Net increase 8,390,786 4,722,797 Net assets available for benefits: Beginning of year 4,722,797 - ------------------------ End of year $13,113,583 $4,722,797 ========================
See accompanying notes. 3 CompSavings Plan for Employees of CompUSA Inc. Notes to Financial Statements December 31, 1996 1. DESCRIPTION OF THE PLAN The following description of the CompSavings Plan for Employees of CompUSA Inc. (the Plan) provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions. GENERAL The Plan was adopted by CompUSA Inc. (the Company) effective January 1, 1995, for eligible employees of the Company. The Plan is a defined contribution plan designed to comply with the Employee Retirement Income Security Act of 1974 (ERISA). BZW Barclays Global Investors, National Association (the Trustee) acts as trustee for the Plan pursuant to a trust agreement between the Trustee and the Company. ADMINISTRATION The Plan is administered by the CompSavings Plan Committee appointed by the Board of Directors of the Company. PARTICIPATION Employees become eligible to participate in the Plan after they have reached the age of 21 and have completed 500 hours of service during the previous six months. During 1995, eligible employees could enroll in the Plan on January 1 or July 1 after meeting the age and service requirements. Effective January 1, 1996, the Plan was amended to allow eligible employees to enroll in the Plan on the first day of the next payroll period after meeting the age and service requirements. Eligible employees who desire to participate in the Plan must elect to participate on the form or forms provided by the CompSavings Plan Committee and authorize the Company to make payroll deductions for contributions to the Plan. CONTRIBUTIONS Each year, participants may contribute up to 15% of pretax annual compensation, as defined in the Plan, provided their contribution for any one year does not exceed the Internal Revenue Service maximum dollar limitation which was $9,500 for 1996 and 1995. The Company contributes 25% of the first 5% of base compensation that a participant contributes to the Plan (Required Contribution). Additional amounts may be contributed (Discretionary Contribution) at the option of management based on the Company's profitability for the fiscal year that ends within the plan year. For 1995 and 1996, management authorized a Discretionary Contribution equal to 25% of the first 5% of base compensation that participants contributed to the Plan. 4 CompSavings Plan for Employees of CompUSA Inc. Notes to Financial Statements (continued) 1. DESCRIPTION OF THE PLAN (CONTINUED) Under the provisions of the Plan, 75% of the Company's Required and Discretionary Contributions are invested in the CompUSA Stock Fund, with the remaining 25% paid in cash and invested based on the participants' elections. In 1996, the Company's Required and Discretionary Contributions to the Plan aggregated $722,875 and $722,876, respectively. In 1995, the Company's Required and Discretionary Contributions to the Plan aggregated $542,079 and $542,079, respectively. The Company funded the 1996 and 1995 Required and Discretionary Contributions in March 1997 and February 1996, respectively. PARTICIPANT ACCOUNTS Each participant's account is credited with the participant's contributions and allocations of (a) the Company's contributions and (b) Plan earnings. Allocations of earnings are based upon the ratio of a participant's account balance to the aggregate of all participant account balances. Forfeited balances of terminated participants' nonvested accounts may be used to restore accounts for employees who are rehired, to pay Plan fees and expenses, or to reduce Company contributions. There were no forfeited balances at December 31, 1995. In 1996, forfeitures aggregated $137,468. These funds are maintained in a money market account pending expenditure by the Plan in the future. The money market account invests in interest bearing cash equivalents and is included in the CompUSA Stock Fund. VESTING Participants are immediately vested in their pretax and rollover contributions plus actual earnings thereon. The Company's contributions allocated to participants' accounts, plus the actual earnings thereon, vest to the participants based on years of continuous service. A participant is 100% vested after four years of continuous credited service. INVESTMENT OPTIONS Participants may elect the investment of their employee contributions and Company cash contributions in any of the following five investment options: (a) Asset Allocation Fund-Invests in a changing mix of stocks, bonds, and money market securities. 5 CompSavings Plan for Employees of CompUSA Inc. Notes to Financial Statements (continued) 1. DESCRIPTION OF THE PLAN (CONTINUED) (b) Income Accumulation Fund-Invests in a mixture of short- and medium-term fixed-income securities that produce income for the fund, mostly from interest payments. (c) Growth Stock Fund-Invests in the stocks of companies that the fund manager believes have potential for above-average long-term capital appreciation. (d) S&P 500 Stock Fund-Invests in the companies included in the Standard & Poor's 500 Index. (e) CompUSA Stock Fund-Invests primarily in the stock of CompUSA Inc. Participants may not elect to have more than 50% of their employee contributions and Company cash contributions invested in this fund. INCOME TAX STATUS The Internal Revenue Service ruled on October 24, 1996 that the Plan qualifies under Section 401(a) of the Internal Revenue Code (IRC) and, therefore, the related trust is not subject to tax under present income tax law. Once qualified, the Plan is required to operate in conformity with the IRC to maintain its qualification. The CompSavings Plan Committee is not aware of any course of action or series of events that have occurred that might adversely affect the Plan's qualified status. Because the Plan did not initially meet the tests limiting contributions of certain highly compensated employees, as defined by the IRC, excess contributions for 1996 and 1995 were refunded to certain participants, along with investment earnings on those excess contributions, in accordance with the Plan agreement. Those amounts are recorded in the accompanying balance sheet as "Excess contributions payable to participants." TERMINATION OF THE PLAN While the Company has not expressed any intent to do so, it may terminate the Plan at any time. In the event the Plan is terminated, the participants would become fully vested as to their account balances and the net assets of the Plan would be distributed to the participants in proportion to their respective account balances. 6 CompSavings Plan for Employees of CompUSA Inc. Notes to Financial Statements (continued) 1. DESCRIPTION OF THE PLAN (CONTINUED) WITHDRAWALS Upon termination of service, a participant may receive a lump-sum payment equal to his or her vested account balance. Participants who are employees can elect to withdraw a portion of their Plan account balance, subject to certain conditions and restrictions. LOANS Effective January 1, 1996, the Plan was amended to provide that Plan participants may request a loan from the Plan in an amount generally not to exceed the lesser of $50,000 or 50% of the participant's vested account balance. The minimum loan amount is $500 and must be repaid, through payroll deductions, within five years. The interest rate charged on participant loans is a fixed rate of interest determined by the CompSavings Plan Committee. EXPENSES AND FORFEITURES The Company pays all administrative fees and expenses related to maintaining the Plan to the extent such fees and expenses exceed forfeitures. The amount of such expenses paid by the Company in 1996 and 1995 was approximately $141,000 and $134,000, respectively. The Company also furnishes the Plan with administrative and clerical services and use of Company office space and supplies at no charge. Certain special fees, such as fees for changing investment fund elections more than four times per year and loan maintenance fees, are charged to individual participants' accounts. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES USE OF ESTIMATES IN THE PREPARATION OF FINANCIAL STATEMENTS The preparation of financial statements in conformity with generally accepted accounting principles requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. 7 CompSavings Plan for Employees of CompUSA Inc. Notes to Financial Statements (continued) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) INVESTMENT VALUATION AND INCOME RECOGNITION Plan investments in various investment funds are stated at fair value as determined by the Trustee based upon the quoted market prices of the underlying securities comprising the investment funds. Investments in the Company's common stock are valued at the last reported sales price on the last business day of the Plan year. Purchases and sales of securities are recorded on a trade-date basis. Contributions and interest income are recorded on the accrual basis. 8 CompSavings Plan for Employees of CompUSA Inc. Notes to Financial Statements (continued) 3. ALLOCATION OF NET ASSETS AVAILABLE FOR BENEFITS TO INVESTMENT FUNDS At December 31, 1996, the Plan's assets and liabilities were held in the following funds:
ASSET INCOME GROWTH STOCK S&P 500 COMPUSA STOCK EMPLOYEE ALLOCATION ACCUMULATION FUND STOCK FUND FUND LOAN TOTAL FUND FUND FUND ----------------------------------------------------------------------------------------------------- ASSETS Investments at fair value $11,215,905 $1,611,225 $ 916,624 $2,633,165 $2,011,156 $4,043,735 $ -- Contributions receivable: Participants 269,213 40,628 30,253 84,887 57,039 56,406 -- Employer 1,445,751 57,715 42,447 108,189 79,770 1,157,630 -- ----------------------------------------------------------------------------------------------------- 1,714,964 98,343 72,700 193,076 136,809 1,214,036 -- Employee loan receivable 567,859 567,859 ----------------------------------------------------------------------------------------------------- Total assets 13,498,728 1,709,568 989,324 2,826,241 2,147,965 5,257,771 567,859 ----------------------------------------------------------------------------------------------------- LIABILITIES Excess contributions payable to participants 385,145 51,919 30,626 121,858 79,429 101,313 -- ----------------------------------------------------------------------------------------------------- Net assets available for benefits $13,113,583 $1,657,649 $ 958,698 $2,704,383 $2,068,536 $5,156,458 $567,859 =======================================================================================================
9 CompSavings Plan for Employees of CompUSA Inc. Notes to Financial Statements (continued) 3. ALLOCATION OF NET ASSETS AVAILABLE FOR BENEFITS TO INVESTMENT FUNDS (CONTINUED) At December 31, 1995, the Plan's assets and liabilities were held in the following funds:
ASSET INCOME ALLOCATION ACCUMULATION GROWTH STOCK S&P 500 COMPUSA TOTAL FUND FUND FUND STOCK FUND STOCK FUND ----------------------------------------------------------------------------------------- ASSETS Investments at fair value $ 3,704,312 $ 805,511 $ 462,477 $1,096,247 $ 818,353 $ 521,724 Contributions receivable: Participants 139,304 26,255 17,750 43,102 31,640 20,557 Employer 1,084,158 54,105 36,954 79,617 61,464 852,018 ----------------------------------------------------------------------------------------- 1,223,462 80,360 54,704 122,719 93,104 872,575 ----------------------------------------------------------------------------------------- Total assets 4,927,774 885,871 517,181 1,218,966 911,457 1,394,299 ----------------------------------------------------------------------------------------- LIABILITIES Excess contributions payable to participants 204,977 32,241 21,191 73,545 34,665 43,335 ----------------------------------------------------------------------------------------- Net assets available for benefits $ 4,722,797 $ 853,630 $ 495,990 $1,145,421 $ 876,792 $1,350,964 =========================================================================================
10 CompSavings Plan for Employees of CompUSA Inc. Notes to Financial Statements (continued) 4. ALLOCATION OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS TO INVESTMENT FUNDS The changes in net assets available for benefits for the year ended December 31, 1996, are as follows:
ASSET INCOME GROWTH STOCK S&P 500 COMPUSA EMPLOYEE ALLOCATION ACCUMULATION FUND STOCK FUND STOCK LOAN TOTAL FUND FUND FUND FUND ----------------------------------------------------------------------------------------------------- Investment income: Net appreciation in fair value of investments $ 2,690,726 $ 146,078 $ -- $ 178,767 $ 282,738 $2,083,143 $ -- Interest 63,906 -- 39,958 -- -- 3,706 20,242 ----------------------------------------------------------------------------------------------------- 2,754,632 146,078 39,958 178,767 282,738 2,086,849 20,242 Contributions: Participants pretax 4,551,162 764,863 545,193 1,405,551 982,708 852,847 -- Participants rollover 514,987 92,997 53,201 123,745 105,208 139,836 -- Employer: Participant directed 361,437 57,577 42,657 107,975 79,629 73,599 -- Non-participant directed 1,084,313 1,084,313 -- ----------------------------------------------------------------------------------------------------- 6,511,899 915,437 641,051 1,637,271 1,167,545 2,150,595 -- ----------------------------------------------------------------------------------------------------- Total additions 9,266,531 1,061,515 681,009 1,816,038 1,450,283 4,237,444 20,242 ----------------------------------------------------------------------------------------------------- Withdrawals by participants (875,745) (124,898) (93,840) (188,964) (173,079) (254,972) (39,992) Net interfund transfers and loan activity -- (132,598) (124,461) (68,112) (85,460) (176,978) 587,609 ----------------------------------------------------------------------------------------------------- Net increase 8,390,786 804,019 462,708 1,558,962 1,191,744 3,805,494 567,859 Net assets available for benefits: Beginning of year 4,722,797 853,630 495,990 1,145,421 876,792 1,350,964 -- ----------------------------------------------------------------------------------------------------- End of year $13,113,583 $1,657,649 $ 958,698 $2,704,383 $2,068,536 $5,156,458 $567,859 =====================================================================================================
11 CompSavings Plan for Employees of CompUSA Inc. Notes to Financial Statements (continued) 4. ALLOCATION OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS TO INVESTMENT FUNDS (CONTINUED) The changes in net assets available for benefits for the year ended December 31, 1995, are as follows: Investment income:
ASSET INCOME GROWTH STOCK S&P 500 COMPUSA ALLOCATION ACCUMULATION FUND STOCK FUND STOCK TOTAL FUND FUND FUND ---------------------------------------------------------------------------------------- Net appreciation (depreciation) in fair value of investments $ 279,778 $ 84,480 $ -- $ 97,002 $ 99,098 $ (802) Interest 11,350 -- 11,350 -- -- -- ----------------------------------------------------------------------------------------- 291,128 84,480 11,350 97,002 99,098 (802) Contributions: Participants - pretax 3,246,577 660,458 457,463 952,227 734,850 441,579 Participants rollover 269,121 97,017 20,875 56,536 22,599 72,094 Employer: Participant directed 271,040 54,105 36,954 79,617 61,464 38,900 Non-participant directed 813,118 -- -- -- -- 813,118 ----------------------------------------------------------------------------------------- 4,599,856 811,580 515,292 1,088,380 818,913 1,365,691 ----------------------------------------------------------------------------------------- Total additions 4,890,984 896,060 526,642 1,185,382 918,011 1,364,889 ----------------------------------------------------------------------------------------- Withdrawals by participants (168,187) (28,979) (19,508) (52,344) (42,082) (25,274) Interfund transfers (net) (13,451) (11,144) 12,383 863 11,349 ----------------------------------------------------------------------------------------- Net increase 4,722,797 853,630 495,990 1,145,421 876,792 1,350,964 Net assets available for benefits: Beginning of year ----------------------------------------------------------------------------------------- End of year $4,722,797 $853,630 $495,990 $1,145,421 $876,792 $1,350,964 =========================================================================================
12 CompSavings Plan for Employees of CompUSA Inc. Notes to Financial Statements (continued) 5. INVESTMENTS The Plan's investments are held by the Trustee. Investments at fair value as of December 31, 1996 and December 31, 1995, are as follows:
DECEMBER 31, 1996 1995 ----------------------------- Asset Allocation Fund: Barclays Global Investors Allocation Fund for Employee Retirement Plans* $ 1,611,225 $ 805,511 Income Accumulation Fund: Barclays Global Investors Income Accumulation Fund for Employee Retirement Plans* 916,624 462,477 Growth Stock Fund: Barclays Global Investors Growth Stock Fund for Employee Retirement Plans* 2,633,165 1,096,247 S&P 500 Stock Fund: Barclays Global Investors S&P 500 Stock Fund for Employee Retirement Plans* 2,011,156 818,353 CompUSA Stock Fund: CompUSA Common Stock* 3,868,734 516,308 Barclays Global Investors Money Market Fund 175,001 5,416 ----------------------------- $11,215,905 $3,408,754 =============================
* Investment represents 5 percent or more of the Plan's net assets. 13 Supplemental Schedules 14 CompSavings Plan for Employees of CompUSA Inc. Line 27(a) - Schedule of Assets Held for Investment Purposes December 31, 1996
C. DESCRIPTION OF INVESTMENT INCLUDING B. IDENTITY OF ISSUER, MATURITY DATE, RATE OF NUMBER OF BORROWER, LESSOR, OR INTEREST, COLLATERAL, UNITS/SHARES/ E. CURRENT A. SIMILAR PARTY PAR, OR MATURITY VALUE FACE VALUE D. COST VALUE - ----------------------------------------------------------------------------------------------------------------------- * Barclays Global Asset Allocation Fund - Investors invests in stocks, bonds, and money market 74,906 $ 1,407,396 $ 1,611,225 securities * Barclays Global Income Accumulation Investors Fund - invests in short- and medium-term fixed income securities 69,755 916,624 916,624 * Barclays Global Growth Stock Fund - Investors invests in equity securities 134,482 2,391,778 2,633,165 * Barclays Global S&P 500 Stock Fund - Investors invests in equity of S&P 500 companies 72,684 1,668,015 2,011,156 * CompUSA Stock Fund - invests in equity securities of CompUSA Inc.: * CompUSA Inc. Common Stock 187,575 2,033,499 3,868,734 * Barclays Global Investors Money Market Fund 175,001 175,001 175,001 Participant Loans 9.25% - 9.5% 567,859 --------------------------- $ 8,592,313 $ 11,783,764 ===========================
* Party-in-interest 15 CompSavings Plan for Employees of CompUSA Inc. Line 27(d) Schedule of Reportable Transactions December 31, 1996
H. CURRENT VALUE OF I. C. D. G. ASSET ON NET A. B. NUMBER OF PURCHASE SELLING COST OF TRANSACTION GAIN OR IDENTITY OF PARTY INVOLVED DESCRIPTION OF ASSET PURCHASES SALES PRICE PRICE ASSET DATE (LOSS) - ----------------------------------------------------------------------------------------------------------------------------------- Category (iii) Series of securities transactions in excess of 5% of the current value of Plan assets - ----------------------------------------------------------------------------------------------------- Barclays Global Investors* Asset Allocation Fund 63 -- $ 942,848 $ -- $ 942,848 $942,848 $ -- Barclays Global Investors* Asset Allocation Fund -- 164 -- 282,530 254,805 282,530 27,725 Barclays Global Investors* Income Accumulation Fund 65 -- 730,774 -- 730,774 730,774 -- Barclays Global Investors* Income Accumulation Fund -- 162 -- 276,627 276,627 276,627 -- Barclays Global Investors* Growth Stock Fund 84 -- 1,726,661 -- 1,726,661 1,726,661 -- Barclays Global Investors* Growth Stock Fund -- 150 -- 369,921 325,724 369,921 44,197 Barclays Global Investors* S&P 500 Stock Fund 69 -- 1,229,977 -- 1,229,977 1,229,977 -- Barclays Global Investors* S&P 500 Stock Fund -- 168 -- 321,863 278,897 321,863 42,966 CompUSA Inc.* Common Stock 83 -- 1,818,853 -- 1,818,853 1,818,853 -- CompUSA Inc.* Common Stock -- 160 -- 520,118 266,969 520,118 253,150
There were no category (i), (ii), or (iv) reportable transactions during 1996. Columns e and f are not applicable. *Party-in-interest 16 Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the CompSavings Plan Committee for the CompSavings Plan for Employees of CompUSA Inc. has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. CompSavings Plan for Employees of CompUSA Inc. By CompSavings Plan Committee Appointed Pursuant to the Plan: Date: June 27, 1997 By: /S/ James F. Halpin ------------- --------------------------------- James F. Halpin, Committee Member Date: June 27, 1997 By: /S/ James E. Skinner ------------- --------------------------------- James E. Skinner, Committee Member Date: June 27, 1997 By: /S/ Melvin D. McCall ------------- ---------------------------------- Melvin D. McCall, Committee Member EX-23 2 CONSENT OF INDEPENDENT AUDITIORS EXHIBIT 23 CONSENT OF INDEPENDENT AUDITORS We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 33-86314) pertaining to the CompSavings Plan for Employees of CompUSA Inc. of our report dated June 23, 1997, with respect to the financial statements and supplemental schedules of the CompSavings Plan for employees of CompUSA Inc. included in this Annual Report (Form 11-K) for the year ended December 31, 1996. /s/ ERNST & YOUNG LLP ERNST & YOUNG LLP Dallas, Texas June 23, 1997 -----END PRIVACY-ENHANCED MESSAGE-----