UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 51) *
AutoNation, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
05329W102
(CUSIP Number)
Janice V. Sharry, Esq.
Haynes and Boone, LLP
2323 Victory Avenue, Suite 700
Dallas, Texas 75219
(214) 651-5000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
July 24, 2019
(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 that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
* | The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. |
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, as amended (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).
CUSIP No. 05329W102
1. | Names of Reporting Persons.
ESL Partners, L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (b) ☐
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3. | SEC Use Only
| |||||
4. | Source of Funds (See Instructions)
OO | |||||
5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
| |||||
6. | Citizenship or Place of Organization
Delaware |
Number of Shares Beneficially Owned by Each Reporting Person With
|
7. | Sole Voting Power
2,880,005 | ||||
8. | Shared Voting Power
0 | |||||
9. | Sole Dispositive Power
2,880,005 | |||||
10. | Shared Dispositive Power
10,241,337 |
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
13,121,342 | |||||
12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
| |||||
13. | Percent of Class Represented by Amount in Row (11)
14.7% (1) | |||||
14. | Type of Reporting Person (See Instructions)
PN |
(1) | Based upon 89,075,026 Shares outstanding as of July 19, 2019, as disclosed in the Issuers Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2019, that was filed by the Issuer with the SEC on July 23, 2019. |
CUSIP No. 05329W102
1. | Names of Reporting Persons.
RBS Partners, L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (b) ☐
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds (See Instructions)
OO | |||||
5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
| |||||
6. | Citizenship or Place of Organization
Delaware |
Number of Shares Beneficially Owned by Each Reporting Person With
|
7. | Sole Voting Power
2,880,005 | ||||
8. | Shared Voting Power
0 | |||||
9. | Sole Dispositive Power
2,880,005 | |||||
10. | Shared Dispositive Power
10,241,337 |
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
13,121,342 | |||||
12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
| |||||
13. | Percent of Class Represented by Amount in Row (11)
14.7% (1) | |||||
14. | Type of Reporting Person (See Instructions)
PN |
(1) | Based upon 89,075,026 Shares outstanding as of July 19, 2019, as disclosed in the Issuers Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2019, that was filed by the Issuer with the SEC on July 23, 2019. |
CUSIP No. 05329W102
1. | Names of Reporting Persons.
ESL Investments, Inc. | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (b) ☐
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds (See Instructions)
OO | |||||
5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
| |||||
6. | Citizenship or Place of Organization
Delaware |
Number of Shares Beneficially Owned by Each Reporting Person With
|
7. | Sole Voting Power
2,880,005 | ||||
8. | Shared Voting Power
0 | |||||
9. | Sole Dispositive Power
2,880,005 | |||||
10. | Shared Dispositive Power
10,241,337 |
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
13,121,342 | |||||
12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
| |||||
13. | Percent of Class Represented by Amount in Row (11)
14.7% (1) | |||||
14. | Type of Reporting Person (See Instructions)
CO |
(1) | Based upon 89,075,026 Shares outstanding as of July 19, 2019, as disclosed in the Issuers Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2019, that was filed by the Issuer with the SEC on July 23, 2019. |
CUSIP No. 05329W102
1. | Names of Reporting Persons.
The Lampert Foundation | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (b) ☐
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds (See Instructions)
OO | |||||
5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
| |||||
6. | Citizenship or Place of Organization
Connecticut |
Number of Shares Beneficially Owned by Each Reporting Person With
|
7. | Sole Voting Power
187,295 | ||||
8. | Shared Voting Power
0 | |||||
9. | Sole Dispositive Power
187,295 | |||||
10. | Shared Dispositive Power
0 |
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
187,295 | |||||
12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
| |||||
13. | Percent of Class Represented by Amount in Row (11)
0.2% (1) | |||||
14. | Type of Reporting Person (See Instructions)
OO |
(1) | Based upon 89,075,026 Shares outstanding as of July 19, 2019, as disclosed in the Issuers Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2019, that was filed by the Issuer with the SEC on July 23, 2019. |
CUSIP No. 05329W102
1. | Names of Reporting Persons.
Edward S. Lampert | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (b) ☐
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds (See Instructions)
OO | |||||
5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
| |||||
6. | Citizenship or Place of Organization
United States |
Number of Shares Beneficially Owned by Each Reporting Person With
|
7. | Sole Voting Power
13,308,637 | ||||
8. | Shared Voting Power
0 | |||||
9. | Sole Dispositive Power
3,067,300 | |||||
10. | Shared Dispositive Power
10,241,337 |
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
13,308,637 | |||||
12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
| |||||
13. | Percent of Class Represented by Amount in Row (11)
14.9% (1) | |||||
14. | Type of Reporting Person (See Instructions)
IN |
(1) | Based upon 89,075,026 Shares outstanding as of July 19, 2019, as disclosed in the Issuers Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2019, that was filed by the Issuer with the SEC on July 23, 2019. |
This Amendment No. 51 to Schedule 13D (this Amendment) relates to shares of common stock, par value $0.01 per share (the Shares), of AutoNation, Inc., a Delaware corporation (the Issuer). This Amendment amends the Schedule 13D, as previously amended, filed with the Securities and Exchange Commission (the SEC) by ESL Partners, L.P., a Delaware limited partnership (ESL), RBS Partners, L.P., a Delaware limited partnership (RBS), ESL Investments, Inc., a Delaware corporation (Investments), The Lampert Foundation, a Connecticut trust (the Foundation), and Edward S. Lampert, a United States citizen, by furnishing the information set forth below. Except as otherwise specified in this Amendment, all previous Items are unchanged. Capitalized terms used herein which are not defined herein have the meanings given to them in the Schedule 13D, as previously amended, filed with the SEC.
The Filing Persons are filing this Amendment to report recent open market sales of Shares by ESL, the Foundation and Mr. Lampert.
Item 5. | Interest in Securities of the Issuer. |
Item 5 is hereby amended and restated in its entirety as follows:
(a)-(b) Each Filing Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this statement.
Each Filing Person may be deemed to be a member of a group with respect to the Issuer or securities of the Issuer for the purposes of Section 13(d) or 13(g) of the Act. Each Filing Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any syndicate or group with respect to the Issuer or any securities of the Issuer.
As of July 26, 2019, the Filing Persons may be deemed to beneficially own the Shares set forth in the table below.
FILING PERSON |
NUMBER OF SHARES BENEFICIALLY OWNED |
PERCENTAGE OF OUTSTANDING SHARES |
SOLE VOTING POWER |
SHARED VOTING POWER |
SOLE DISPOSITIVE POWER |
SHARED DISPOSITIVE POWER |
||||||||||||||||||
ESL Partners, L.P. |
13,121,342 | (1)(2) | 14.7 | %(3) | 2,880,005 | (2) | 0 | 2,880,005 | (2) | 10,241,337 | (1) | |||||||||||||
RBS Partners, L.P. |
13,121,342 | (1)(2) | 14.7 | %(3) | 2,880,005 | (2) | 0 | 2,880,005 | (2) | 10,241,337 | (1) | |||||||||||||
ESL Investments, Inc. |
13,121,342 | (1)(2) | 14.7 | %(3) | 2,880,005 | (2) | 0 | 2,880,005 | (2) | 10,241,337 | (1) | |||||||||||||
The Lampert Foundation |
187,295 | 0.2 | %(3) | 187,295 | 0 | 187,295 | 0 | |||||||||||||||||
Edward S. Lampert |
13,308,637 | (1)(2)(4) | 14.9 | %(3) | 13,308,637 | (1)(2)(4) | 0 | 3,067,300 | (2)(4) | 10,241,337 | (1) |
(1) | This number includes 10,241,337 Shares held by Mr. Lampert. ESL has entered into a Lock-Up Agreement with Mr. Lampert that restricts the purchase and sale of securities owned by Mr. Lampert. Pursuant to the Lock-Up Agreement, ESL may be deemed to have shared dispositive power over, and to indirectly beneficially own, securities owned by Mr. Lampert. RBS, Investments and Mr. Lampert may also be deemed to have shared dispositive power over, and to indirectly beneficially own, such securities. |
(2) | This number includes 2,329,821 Shares held by ESL and 433,637 Shares held in the Liability Accounts controlled by ESL. RBS is the general partner of, and may be deemed to indirectly beneficially own |
securities owned by, ESL. Investments is the general partner of, and may be deemed to indirectly beneficially own securities owned by, RBS. Mr. Lampert is the Chairman, Chief Executive Officer and Director of, and may be deemed to indirectly beneficially own securities owned by, Investments. |
(3) | This is based upon 89,075,026 Shares outstanding as of July 19, 2019, as disclosed in the Issuers Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2019, that was filed by the Issuer with the SEC on July 23, 2019. |
(4) | This number includes 187,295 Shares held by the Foundation. Mr. Lampert and his wife Kinga Keh Lampert are co-trustees of, and may be deemed to indirectly beneficially own securities owned by, the Foundation. |
(c) Other than as set forth on Annex B hereto, there have been no transactions in the class of securities reported on that were effected by the Filing Persons during the past sixty days or since the most recent filing of Schedule 13D, whichever is less.
(d) Not applicable.
(e) Not applicable.
SIGNATURE
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: July 26, 2019 |
ESL PARTNERS, L.P. | |||||
By: RBS Partners, L.P., as its general partner | ||||||
By: ESL Investments, Inc., as its general partner | ||||||
By: | /s/ Edward S. Lampert | |||||
Name: | Edward S. Lampert | |||||
Title: | Chief Executive Officer | |||||
RBS PARTNERS, L.P. | ||||||
By: ESL Investments, Inc., as its general partner | ||||||
By: | /s/ Edward S. Lampert | |||||
Name: | Edward S. Lampert | |||||
Title: | Chief Executive Officer | |||||
ESL INVESTMENTS, INC. | ||||||
By: | /s/ Edward S. Lampert | |||||
Name: | Edward S. Lampert | |||||
Title: | Chief Executive Officer | |||||
THE LAMPERT FOUNDATION | ||||||
By: | /s/ Edward S. Lampert | |||||
Name: | Edward S. Lampert | |||||
Title: | Co-Trustee | |||||
EDWARD S. LAMPERT | ||||||
By: | /s/ Edward S. Lampert |
ANNEX B
RECENT TRANSACTIONS BY THE FILING PERSONS IN THE SECURITIES OF AUTONATION, INC.
Entity |
Date of Transaction |
Description of Transaction |
Shares Disposed |
Price Per Share |
||||||||||||
ESL Partners, L.P. |
07/23/2019 | Open Market Sales | 415,769 | (1) | $ | 46.57 | (2) | |||||||||
Edward S. Lampert |
07/23/2019 | Open Market Sales | 295,467 | $ | 46.71 | (2) | ||||||||||
The Lampert Foundation |
07/23/2019 | Open Market Sales | 8,045 | $ | 46.71 | (2) | ||||||||||
ESL Partners, L.P. |
07/24/2019 | Open Market Sales | 190,179 | $ | 48.09 | (3) | ||||||||||
Edward S. Lampert |
07/24/2019 | Open Market Sales | 796,958 | $ | 48.09 | (3) | ||||||||||
The Lampert Foundation |
07/24/2019 | Open Market Sales | 14,572 | $ | 48.09 | (3) | ||||||||||
ESL Partners, L.P. |
07/25/2019 | Open Market Sales | 40,272 | $ | 48.57 | (4) | ||||||||||
Edward S. Lampert |
07/25/2019 | Open Market Sales | 156,819 | $ | 48.57 | (4) | ||||||||||
The Lampert Foundation |
07/25/2019 | Open Market Sales | 2,909 | $ | 48.57 | (4) |
(1) | Represents the aggregate number of shares of common stock of AutoNation, Inc., par value $0.01 per share (Shares), over which ESL Partners, L.P. (ESL) divested beneficial ownership for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, following open market sales of 249,510 Shares directly beneficially owned by ESL and 166,259 Shares held in separate accounts controlled by ESL or its designee that were established on behalf of, and for the benefit of, those limited partners that previously redeemed all of their interest in ESL (the Redeeming Limited Partners) in lieu of ESL withholding a reasonable reserve from the amounts that would have otherwise been distributable to such Redeeming Limited Partners for the purpose of satisfying the relevant Redeeming Limited Partners share of any contingent liabilities of, or claims against, ESL. |
(2) | This price represents the approximate weighted average price per Share, of sales that were executed at prices ranging from $45.89 to $47.76 per Share. The Filing Persons undertake to provide, upon request by the Securities and Exchange Commission staff, full information regarding the number of Shares sold at each price. |
(3) | This price represents the approximate weighted average price per Share, of sales that were executed at prices ranging from $46.70 to $48.99 per Share. The Filing Persons undertake to provide, upon request by the Securities and Exchange Commission staff, full information regarding the number of Shares sold at each price. |
(4) | This price represents the approximate weighted average price per Share, of sales that were executed at prices ranging from $48.40 to $48.86 per Share. The Filing Persons undertake to provide, upon request by the Securities and Exchange Commission staff, full information regarding the number of Shares sold at each price. |