Sec Form 13D Filing - SHREVE CHRISTINE A filing for CHOICE HOTELS INTERNATIONAL INC (CHH) - 2020-01-23

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)*

 

 

CHOICE HOTELS INTERNATIONAL, INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

169905-10-6

(CUSIP Number)

Christine A. Shreve – 240-295-1600

8171 Maple Lawn Blvd, Suite 375, Fulton, MD 20759

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

January 17, 2020

(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 Rule 13d-1(b) (3) or (4), check the following box  ☐.

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in 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 (“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).

 

 

 


13D

 

CUSIP No. 169905-10-6   Page 2 of 5

 

  1   

Name of Reporting Person

 

Christine A. Shreve (“Ms. Shreve” or the “Reporting Person”)

  2  

Check the Appropriate Box if a Member of a Group*

(a)  ☐        (b)  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds

 

00

  5  

Check Box if Disclosure of Legal Proceeding is Required Pursuant to Items 2(C) or 2(E)    ☐

 

  6  

Citizenship or Place of Organization

 

USA

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

with:

 

     7    

Sole Voting

 

6,168

     8   

Shared Voting Power

 

3,485,683

     9   

Sole Dispositive Power

 

6,168

   10   

Shared Dispositive Power

 

3,485,683

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

3,491,851

12  

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares

 

13  

Percent of Class Represented by Amount in Row (11)

 

6.27%

14  

Type of Reporting Person

 

IN


13D

 

CUSIP No. 169905-10-6   Page 3 of 5

Item 1. Security and Issuer

 

  (a)

Name of Issuer:

      

Choice Hotels International, Inc.

 

  (b)

Address of Issuer’s Principal Executive Offices:

      

1 Choice Circle, Suite 400

      

Rockville, MD 20850

 

  (c)

Title and Class of Securities:

      

Common Stock

Item 2. Identity and Background

 

  (a)

Name:

      

Christine A. Shreve

 

  (b)

Business Address:

      

8171 Maple Lawn Blvd, Suite 375

      

Fulton, MD 20759

 

  (c)

Present Principal Employment:

      

President, Realty Investment Company, Inc.

 

  (d)

Record of Convictions:

      

During the last five years, the Reporting Person has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors.)

 

  (e)

Record of Civil Proceedings:

      

During the last five years, the Reporting Person was not a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating such activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

  (f)

Citizenship:

      

N/A

Item 3. Source and Amount of Funds or Other Consideration

N/A

Item 4. Purpose of Transaction

On January 17, 2020 and January 21, 2020, Ms. Shreve, as Trustee of several Bainum family trusts and Manager of certain Bainum Family owned LLCs, engaged in transactions in respect of shares owned by the trusts and LLCs as part of tax and estate planning for the trusts. The transfers involved no consideration.

On January 17, 2020 the Jane Bainum Declaration of Trust, a trust for the benefit of Jane Bainum for which Ms. Shreve serves as Co-Trustee, made gifts aggregating 2,097,281 shares of common stock of the Issuer to five tax exempt organizations created by members of Jane Bainum’s family.

On January 21, 2020, two limited liability corporations which are wholly owned by members of the Bainum family and trusts for their benefit and for which Ms. Shreve serves as Manager, made distributions of a total of 897,803 shares of common stock of the Issuer to redeem certain of the members of the LLCs.


13D

 

CUSIP No. 169905-10-6   Page 4 of 5

Item 5. Interest in Securities of the Issuer

 

  (a)

Amount and percentage beneficially owned:

 

      

Reporting Person:

 

      

3,491,851 shares (6.27%) including 2,800 shares owned by Ms. Shreve jointly with her husband; 1,175,000 shares owned by Shadow Holdings, LLC, an LLC whose sole members are Barbara Bainum and trusts for her benefit, for which Ms. Shreve is Manager and has shared voting authority; 1,232,993 shares owned by Posadas Holdings, LLC, for which Ms. Shreve is Manager and has shared voting authority, and whose sole members are Bruce Bainum and a trust for his benefit; 1,074,890 shares owned by Sweetwater Holdings, LLC, for which Ms. Shreve is Manager and has shared voting authority, and whose sole members are Roberta Bainum and a trust for her benefit; and 6,168 shares owned by trusts for the benefit of Renschler family members for which Ms. Shreve is the trustee.

 

  (b)

Number of shares as to which such person has:

 

  (i)

Sole Voting Power        6,168

 

  (ii)

Shared Voting Power        3,485,683

 

  (iii)

Sole Dispositive Power        6,168

 

  (iv)

Shared Dispositive Power        3,485,683

 

  (c)

A schedule of transactions effected in the last sixty days is as follows:

 

      

Other than the tax and estate planning transactions described in Item 4 above, Ms. Shreve engaged in no other transactions in the last 60 days.

 

  (d)

Ownership of more than five percent on behalf of Another Person:

 

      

To the extent that shares of the Issuer identified in Item 5(a) are held by corporations or partnerships, other shareholders and partners, respectively, have the right to receive dividends from, or the proceeds from the sale of the shares to the extent of their proportionate interests in such entities. To the best of the Reporting Person’s knowledge, other than Stewart Bainum, Jr., Bruce Bainum, Roberta Bainum and Barbara Bainum, no other person has such interest relating to more than 5% of the outstanding class of securities.

 

  (e)

Ownership of Less than Five Percent:

 

      

N/A

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

None.

Item 7. Material to be Filed as Exhibits

None.


13D

 

CUSIP No. 169905-10-6   Page 5 of 5

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: January 23, 2020

 

/s/ Christine A. Shreve
Christine A. Shreve