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.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
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- Peter Lynch
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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. 13)*
Encore Capital Group, Inc.
(Name of Issuer)
Common Stock ($.01 par value)
(Title of Class of Securities)
292554 10 2
(CUSIP Number)
Stuart I. Rosen
Senior Vice President and Associate General Counsel
Triarc Companies, Inc.
280 Park Avenue
New York, New York 10017
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
May 10, 2007
(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 ss.240.13d-1(e), (f) or (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 ss.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 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
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 purposes 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).
(1) Name of Reporting Person Madison West Associates Corp.
I.R.S. Identification No.
of Above Person
- --------------------------------------------------------------------------------
(2) Check the Appropriate Box (a)
if a Member of a Group ---------------------------------------
(b) X
---------------------------------------
- --------------------------------------------------------------------------------
(3) SEC Use Only
- --------------------------------------------------------------------------------
(4) Source of Funds OO
- --------------------------------------------------------------------------------
(5) Check Box if Disclosure of [ ]
Legal Proceedings is
Required Pursuant to Items
2(d) or 2(e)
- --------------------------------------------------------------------------------
(6) Citizenship or Place of
Organization Delaware
- --------------------------------------------------------------------------------
Number of (7) Sole Voting Power None
Shares -------------------------------------------------------------
Beneficially (8) Shared Voting Power 87,500
Owned by Each -------------------------------------------------------------
Reporting (9) Sole Dispositive Power None
Person With -------------------------------------------------------------
(10) Shared Dispositive Power 87,500
- --------------------------------------------------------------------------------
(11) Aggregate Amount
Beneficially Owned by Each
Reporting Person 87,500
- --------------------------------------------------------------------------------
(12) Check Box if the Aggregate
Amount in Row (11) Excludes [ ]
Certain Shares
- --------------------------------------------------------------------------------
(13) Percent of Class Represented
by Amount in Row (11) 0.4%*
- --------------------------------------------------------------------------------
(14) Type of Reporting Person CO
* Based on 22,782,477 shares of Common Stock outstanding as of February 5, 2007,
as reported in the Company's Form 10-K, as filed with the Securities and
Exchange Commission on May 10, 2007.
(1) Name of Reporting Person Triarc Companies, Inc.
I.R.S. Identification No.
of Above Person
- --------------------------------------------------------------------------------
(2) Check the Appropriate Box (a)
if a Member of a Group ---------------------------------------
(b) X
---------------------------------------
- --------------------------------------------------------------------------------
(3) SEC Use Only
- --------------------------------------------------------------------------------
(4) Source of Funds OO
- --------------------------------------------------------------------------------
(5) Check Box if Disclosure of [ ]
Legal Proceedings is
Required Pursuant to Items
2(d) or 2(e)
- --------------------------------------------------------------------------------
(6) Citizenship or Place of
Organization Delaware
- --------------------------------------------------------------------------------
Number of (7) Sole Voting Power None
Shares -------------------------------------------------------------
Beneficially (8) Shared Voting Power 97,500
Owned by Each -------------------------------------------------------------
Reporting (9) Sole Dispositive Power None
Person With -------------------------------------------------------------
(10) Shared Dispositive Power 97,500
- --------------------------------------------------------------------------------
(11) Aggregate Amount
Beneficially Owned by Each
Reporting Person 97,500
- --------------------------------------------------------------------------------
(12) Check Box if the Aggregate
Amount in Row (11) Excludes [ ]
Certain Shares
- --------------------------------------------------------------------------------
(13) Percent of Class Represented
by Amount in Row (11) 0.4%*
- --------------------------------------------------------------------------------
(14) Type of Reporting Person CO
* Based on 22,782,477 shares of Common Stock outstanding as of February 5,
2007, as reported in the Company's Form 10-K, as filed with the Securities and
Exchange Commission on February 28, 2007.
(1) Name of Reporting Person Nelson Peltz
I.R.S. Identification No.
of Above Person
- --------------------------------------------------------------------------------
(2) Check the Appropriate Box (a)
if a Member of a Group ---------------------------------------
(b) X
---------------------------------------
- --------------------------------------------------------------------------------
(3) SEC Use Only
- --------------------------------------------------------------------------------
(4) Source of Funds OO
- --------------------------------------------------------------------------------
(5) Check Box 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 (7) Sole Voting Power None
Shares -------------------------------------------------------------
Beneficially (8) Shared Voting Power 191,500
Owned by Each -------------------------------------------------------------
Reporting (9) Sole Dispositive Power None
Person With -------------------------------------------------------------
(10) Shared Dispositive Power 191,500
- --------------------------------------------------------------------------------
(11) Aggregate Amount
Beneficially Owned by Each
Reporting Person 191,500
- --------------------------------------------------------------------------------
(12) Check Box if the Aggregate
Amount in Row (11) Excludes [ ]
Certain Shares
- --------------------------------------------------------------------------------
(13) Percent of Class Represented
by Amount in Row (11) 0.8%*
- --------------------------------------------------------------------------------
(14) Type of Reporting Person IN
* Based on 22,782,477 shares of Common Stock outstanding as of February 5,
2007, as reported in the Company's Form 10-K, as filed with the Securities and
Exchange Commission on February 28, 2007.
(1) Name of Reporting Person Peter W. May
I.R.S. Identification No.
of Above Person
- --------------------------------------------------------------------------------
(2) Check the Appropriate Box (a)
if a Member of a Group ---------------------------------------
(b) X
---------------------------------------
- --------------------------------------------------------------------------------
(3) SEC Use Only
- --------------------------------------------------------------------------------
(4) Source of Funds OO
- --------------------------------------------------------------------------------
(5) Check Box 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 (7) Sole Voting Power 0
Shares -------------------------------------------------------------
Beneficially (8) Shared Voting Power 97,500
Owned by Each -------------------------------------------------------------
Reporting (9) Sole Dispositive Power 0
Person With -------------------------------------------------------------
(10) Shared Dispositive Power 97,500
- --------------------------------------------------------------------------------
(11) Aggregate Amount
Beneficially Owned by Each
Reporting Person 97,500
- --------------------------------------------------------------------------------
(12) Check Box if the Aggregate
Amount in Row (11) Excludes [ ]
Certain Shares
- --------------------------------------------------------------------------------
(13) Percent of Class Represented
by Amount in Row (11) 0.4%*
- --------------------------------------------------------------------------------
(14) Type of Reporting Person IN
* Based on 22,782,477 shares of Common Stock outstanding as of February 5, 2007,
as reported in the Company's Form 10-K, as filed with the Securities and
Exchange Commission on February 28, 2007.
Amendment No. 13 to Schedule 13D
This Amendment No. 13 to Schedule 13D ("Amendment No. 13") amends the
Schedule 13D originally filed on March 4, 2002 (the "Original Statement"), as
supplemented and amended by Amendment No. 1, dated October 31, 2002, Amendment
No. 2, dated September 4, 2003, Amendment No. 3, dated September 29, 2003,
Amendment No. 4 dated October 9, 2003, Amendment No. 5 dated October 16, 2003
and Amendment No. 6 dated December 23, 2004, Amendment No. 7 dated January 20,
2005, Amendment No. 8 dated May 12, 2005, Amendment No. 9 dated June 17, 2005,
Amendment No. 10 dated January 23, 2006, Amendment No. 11 dated March 21, 2006
and April 20, 2007 (the Original Statement, as so amended, the "Schedule 13D").
Unless otherwise indicated, all capitalized terms shall have the same meaning as
provided in the Schedule 13D. Except as set forth below, there are no changes to
the information set forth in the Schedule 13D.
Item 2. Identity and Background
Schedules I and II are hereby amended and restated as set forth
herein and are incorporated herein by reference.
Item 4. Purpose of Transaction
Item 4 of the Schedule 13D is hereby amended by adding the following:
On May 10, 2007, Madison West, Triarc, the Peltz LP, and the May Foundation
sold 788,381 shares, 91,275 shares, 850,369 shares and 15,000 shares,
respectively, of Common Stock to FPK for $9.75 per share pursuant to the Stock
Purchase Agreement, dated April 20, 2007, with FPK. In connection with the sale
to FPK Mr. May resigned from the Board of Directors of the Company.
Item 5. Interest in Securities of the Issuer.
Paragraphs (i), (ii) (iv) and (v) of Part (a)-(b) of Item 5 are
amended and restated to read in their entirety as follows:
(i) Pursuant to Rule 13d-3 of the Exchange Act, Madison West may be
deemed the beneficial owner of 87,500 shares of Common Stock, which
constitute approximately 0.4% of the Company's outstanding shares of Common
Stock (computed in accordance with Rule 13d-3 of the Exchange Act and on
the basis of 22,782,477 shares of Common Stock outstanding as of February
5, 2007, as reported in the Company's Form 10-K, as filed with the
Securities and Exchange Commission on February 28, 2007. Madison West
shares with Triarc, Mr. Peltz and Mr. May voting and dispositive power over
the 87,500 shares of Common Stock directly owned by Madison West;
(ii) Pursuant to Rule 13d-3 of the Exchange Act, Triarc may be deemed
the beneficial owner of 97,500 shares of Common Stock, including (i) 87,500
shares of Common Stock directly owned by Madison West and (ii) 10,000
shares of Common Stock directly owned by Triarc. The aggregate holdings of
Triarc constitute approximately 0.43% of the Company's outstanding shares
of Common Stock (computed in accordance with Rule 13d-3 of the Exchange Act
and on the basis of 22,782,477 shares of Common
Stock outstanding as of
February 5, 2007, as reported in the Company's Form 10-K, as filed with the
Securities and Exchange Commission on February 28, 2007. Triarc shares with
Madison West, Mr. Peltz and Mr. May voting and dispositive power over the
87,500 shares of Common Stock directly owned by Madison West and shares
with Mr. Peltz and Mr. May voting and dispositive power over the 10,000
shares of Common Stock directly owned by Triarc;
(iv) On May 9, 2004 Mr. Peltz transferred all of his general
partnership interests in the Peltz LP to Claudia Peltz, his wife, as a
result of which Mrs. Peltz became the sole general partner of the Peltz LP.
Immediately thereafter, Mrs. Peltz contributed all of the general
partnership interests in the Peltz LP to a limited liability company of
which she is the sole member. Accordingly, Mr. Peltz may be deemed to
beneficially own 94,000 shares of Common Stock directly owned by the Peltz
LP. As a result of the Voting Agreement, Mr. Peltz and Mr. May may be
deemed to beneficially own, in the aggregate, approximately 34.4% of the
voting power of the outstanding Class A Common Stock and Class B Common
Stock, of Triarc (computed in accordance with Rule 13d-3 of the Exchange
Act and on the basis of 28,857,341 shares of Class A Common Stock and
63,755,575 shares of Class B Common Stock of Triarc outstanding as of April
12, 2007, as reported in Triarc's Proxy Statement filed with the Securities
and Exchange Commission on April 30, 2007), and thus Mr. Peltz shares
voting and dispositive power with Triarc and Mr. May over the 97,500 shares
of Common Stock beneficially owned by Triarc (see (ii) above). As a result,
pursuant to Rule 13d-3 of the Exchange Act, Mr. Peltz may be deemed the
indirect beneficial owner of (i) the 94,000 shares of Common Stock directly
owned by the Peltz LP, and (ii) the 97,500 shares of Common Stock
beneficially owned by Triarc, which, in the aggregate, constitute
approximately 0.8% of the Company's outstanding shares of Common Stock
(computed in accordance with Rule 13d-3 of the Exchange Act and on the
basis of 22,782,477 shares of Common Stock outstanding as of February 5,
2007, as reported in the Company's Form 10-K, as filed with the Securities
and Exchange Commission on February 28, 2007). Mr. Peltz disclaims
beneficial ownership of such shares; and
(v) As a result of the Voting Agreement, Mr. Peltz and Mr. May may be
deemed to beneficially own approximately 34.4% of the voting power of the
outstanding Class A Common Stock and Class B Common Stock, of Triarc
(computed in accordance with Rule 13d-3 of the Exchange Act and on the
basis of 28,857,341 shares of Class A Common Stock and 63,755,575 shares of
Class B Common Stock of Triarc outstanding as of April 12, 2007, as
reported in Triarc's Proxy Statement filed with the Securities and Exchange
Commission on April 30, 2007), and thus, Mr. May shares with Triarc and Mr.
Peltz voting and dispositive power over the 97,500 shares of Common Stock
beneficially owned by Triarc (see (ii) above). As a result, pursuant to
Rule 13d-3 of the Exchange Act, Mr. May may be deemed the beneficial owner
of the 97,500 shares of Common Stock beneficially owned by Triarc which, in
the aggregate, constitute approximately 0.4% of the Company's outstanding
shares of Common Stock (computed in accordance with Rule 13d-3 of the
Exchange Act and on the basis of 22,782,477 shares of Common Stock
outstanding as of February 5, 2007, as reported in the Company's Form 10-K,
as filed with the Securities and Exchange Commission on February 28, 2007).
Mr. May disclaims beneficial ownership of all such shares.
Item 5 is also hereby amended by adding the following:
On May 10, 2007, the reporting persons ceased to be the beneficial
owners of more than 5% of the Company's Common Stock.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement with respect to the
undersigned is true, complete and correct.
Date: May 11, 2007
MADISON WEST ASSOCIATES CORP.
By:/s/STUART ROSEN
---------------------------------
Name: Stuart I. Rosen
Title: Senior Vice President and Secretary
TRIARC COMPANIES, INC.
By:/s/STUART ROSEN
---------------------------------
Name: Stuart I. Rosen
Title: Senior Vice President and Secretary
/s/NELSON PELTZ
-----------------------------------
Nelson Peltz
/s/PETER MAY
-----------------------------------
Peter W. May
SCHEDULE I
DIRECTORS AND EXECUTIVE OFFICERS
TRIARC COMPANIES, INC.
Set forth below are the names, citizenship, addresses and, to the best knowledge of the Reporting Persons,
the beneficial ownership in the securities of the Company of each of the directors and executive officers of Triarc,
other than Messrs. Peltz and May who are also Reporting Persons.(1)
- ------------------------------- --------------------- --------------------------------- -------------------------
Name Citizenship Residence or Business Address Beneficial Ownership
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Hugh L. Carey USA 805 Third Avenue
New York, NY 10022 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Clive Chajet USA 575 Madison Avenue,
New York, NY 10022 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Joseph A. Levato USA 280 Park Avenue
New York, NY 10017 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Gregory H. Sachs USA 6250 N. River Road, 9th Floor
Rosemont, IL 60018 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
David E. Schwab II USA 1133 Avenue of the Americas
New York, NY 10036 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Raymond S. Troubh USA 10 Rockefeller Plaza
New York, NY 10020 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Gerald Tsai, Jr. USA 200 Park Avenue
New York, NY 10166 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Jack G. Wasserman USA 280 Park Avenue
New York, NY 10017 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Edward Garden USA 280 Park Avenue
New York, NY 10017 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Russell V. Umphenour, Jr. USA 5995 Barfield Road
Atlanta, GA 30328 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Brian L. Schorr USA 280 Park Avenue
New York, NY 10017 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Francis T. McCarron USA 280 Park Avenue
New York, NY 10017 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Greg Essner USA 280 Park Avenue
New York, NY 10017 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Stuart I. Rosen USA 280 Park Avenue
New York, NY 10017 10,000 (2)
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Fred H. Schaefer USA 280 Park Avenue
New York, NY 10017 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Anne A. Tarbell USA 280 Park Avenue
New York, NY 10017 0
- ------------------------------- --------------------- --------------------------------- -------------------------
- ------------------------------- --------------------- --------------------------------- -------------------------
Roland C. Smith USA 1155 Perimeter Center West
Atlanta, Georgia 30338 0
- ------------------------------- --------------------- --------------------------------- -------------------------
1) To the best knowledge of the Reporting Persons, except where otherwise
noted, each of the directors and executive officers of Triarc listed
above (i) funded their purchase of shares of Common Stock reported
herein from personal funds; (ii) acquired the shares of Common Stock for
investment purposes; (iii) has sole voting and dispositive power over
the shares listed on this Schedule I and (iv) has the sole right to
receive dividends from, or the proceeds from the sale of the shares
listed on this Schedule I.
2) Consists of Common Stock.
SCHEDULE II
DIRECTORS AND EXECUTIVE OFFICERS
MADISON WEST ASSOCIATES CORP.
Set forth below are the names, citizenship, addresses and, to the best knowledge of the Reporting Persons,
the beneficial ownership in the securities of the Company of each of the directors and executive officers of
Madison West.(1)
- ---------------------------- -------------------------- -------------------------- --------------------------
Name Citizenship Residence or Business Beneficial Ownership
Address
- ---------------------------- -------------------------- -------------------------- --------------------------
- ---------------------------- -------------------------- -------------------------- --------------------------
Edward Garden USA 280 Park Avenue
New York, NY 10017 0
- ---------------------------- -------------------------- -------------------------- --------------------------
- ---------------------------- -------------------------- -------------------------- --------------------------
Francis T. McCarron USA 280 Park Avenue
New York, NY 10017 0
- ---------------------------- -------------------------- -------------------------- --------------------------
- ---------------------------- -------------------------- -------------------------- --------------------------
Brian L. Schorr USA 280 Park Avenue
New York, NY 10017 0
- ---------------------------- -------------------------- -------------------------- --------------------------
- ---------------------------- -------------------------- -------------------------- --------------------------
Greg Essner USA 280 Park Avenue
New York, NY 10017 0
- --------------
-------------- -------------------------- -------------------------- --------------------------
- ---------------------------- -------------------------- -------------------------- --------------------------
Stuart I. Rosen USA 280 Park Avenue
New York, NY 10017 10,000 (2)
- ---------------------------- -------------------------- -------------------------- --------------------------
- ---------------------------- -------------------------- -------------------------- --------------------------
Fred H. Schaefer USA 280 Park Avenue
New York, NY 10017 0
- ---------------------------- -------------------------- -------------------------- --------------------------
- ---------------------------- -------------------------- -------------------------- --------------------------
Anne A. Tarbell USA 280 Park Avenue
New York, NY 10017 0
- ---------------------------- -------------------------- -------------------------- --------------------------
1) To the best knowledge of the Reporting Persons, except where otherwise
noted, each of the directors and executive officers of Madison West
listed above (i) funded their purchase of shares of Common Stock
reported herein from personal funds; (ii) acquired the shares of
Common Stock for investment purposes; and (iii) has sole voting and
dispositive power over the shares listed on this Schedule II.
2) See Schedule I.