Sec Form 13D Filing - Otto Alexander filing for SITE Centers Corp. (SITC) - 2020-12-18

Insider filing report for Changes in Beneficial Ownership

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  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

SCHEDULE 13D

(Rule 13d-101)

Under the Securities Exchange Act of 1934

(Amendment No. 21)*

 

 

SITE Centers Corp.

(Name of Issuer)

Common Stock, par value $0.10 per share

(Title of Class of Securities)

251591103

(CUSIP Number)

David A. Brown

Alston & Bird LLP

950 F Street, N.W.

Washington, DC 20004-1404

202-239-3452

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

December 16, 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 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  ☐.

 

*

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 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).

 

 

 


  1    

  NAME OF REPORTING PERSONS

 

  Alexander Otto

  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)

 

  WC, PF

  5  

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ☐

  6  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Germany

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

     7     

  SOLE VOTING POWER

 

  30,504,518

     8   

  SHARED VOTING POWER

 

  0

     9   

  SOLE DISPOSITIVE POWER

 

  30,504,518

   10   

  SHARED DISPOSITIVE POWER

 

  0

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  30,504,518

12  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)

 

  ☐

13  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  15.8%

14  

  TYPE OF REPORTING PERSON (See Instructions)

 

  IN

 

*

Based on 193,219,781 shares of common stock outstanding as of October 26, 2020 as reported by the issuer in its Form 10-Q filed with the Securities and Exchange Commission on October 30, 2020.


CUSIP No. 251591103    SCHEDULE 13D    Page 3 of 7 Pages

 

  1    

  NAME OF REPORTING PERSONS

 

  Katharina Otto-Bernstein

  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)

 

  WC, PF

  5  

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ☐

  6  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Germany

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

     7     

  SOLE VOTING POWER

 

  8,127,752

     8   

  SHARED VOTING POWER

 

  0

     9   

  SOLE DISPOSITIVE POWER

 

  8,127,752

   10   

  SHARED DISPOSITIVE POWER

 

  0

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  8,127,752

12  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)

 

  ☐

13  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  4.2%*

14  

  TYPE OF REPORTING PERSON (See Instructions)

 

  IN

 

*

Based on 193,219,781 shares of common stock outstanding as of October 26, 2020 as reported by the issuer in its Form 10-Q filed with the Securities and Exchange Commission on October 30, 2020.


CUSIP No. 251591103    SCHEDULE 13D    Page 4 of 7 Pages

 

This Amendment No. 21 (“Amendment No. 21”) amends and supplements the statement on Schedule 13D initially filed on May 15, 2009 (the “Original Filing”), as amended by Amendment No. 1 filed on August 20, 2009, Amendment No. 2 filed on September 14, 2009, Amendment No. 3 filed on September 18, 2009, Amendment No. 4 filed on February 16, 2010, Amendment No. 5 filed on March 21, 2011, Amendment No. 6 filed on April 26, 2011, Amendment No. 7 filed on April 4, 2012, Amendment No. 8 filed on October 5, 2012, Amendment No. 9 filed on November 21, 2012, Amendment No. 10 filed on June 20, 2013, Amendment No. 11 filed on August 12, 2014, Amendment No. 12 filed on March 5, 2015, Amendment No. 13 filed on May 12, 2015, Amendment No. 14 filed on June 6, 2017, Amendment No. 15 filed on February 27, 2018, Amendment No. 16 filed on April 30, 2018, Amendment No. 17 filed on May 15, 2018, Amendment No. 18 filed on June 26, 2018, Amendment No. 19 filed on January 9, 2019 and Amendment No. 20 filed on May 19, 2020. Information reported in the Original Filing, as amended, remains in effect except to the extent that it is amended, restated or superseded by information contained in this Amendment No. 21. Capitalized terms used and not defined in this Amendment No. 21 have the meanings set forth in the Original Filing, as amended.

Item 5. Interest in Securities of the Issuer.

Item 5 is hereby amended to add the following:

(a) Alexander Otto and Katharina Otto-Bernstein may be deemed to beneficially own, in the aggregate, Common Shares, representing 20.0% of the Issuer’s outstanding Common Shares (193,219,781 shares of common stock outstanding as of October 26, 2020 as reported by the issuer in its Form 10-Q filed with the Securities and Exchange Commission on October 30, 2020).

(b) With respect to any rights or powers to vote, or to direct the vote of, or to dispose of, or direct the disposition of, the Common Shares referenced in paragraph 5(a), Mr. Otto has sole voting power and sole dispositive power with regard to 30,504,518 Common Shares, and Katharina Otto-Bernstein has sole voting power and sole dispositive power with regard to 8,127,752 Common Shares.

(c) Other than as set forth below, the Reporting Persons have not effected any transactions in the Common Shares in the last sixty days.

Alexander Otto effected the following transactions in the Common Shares in the past 60 days:

 

Date

   Transaction      Amount      Price  

12/3/2020

     Sale        180,276        $10.4369  (1) 

12/4/2020

     Sale        205,002        $10.5195  (2) 

12/7/2020

     Sale        145,025        $10.294  (3) 

12/8/2020

     Sale        138,203        $10.1681  (4) 

12/9/2020

     Sale        456,494        $10.3984  (5) 

12/10/2020

     Sale        253,500        $10.4447  (6) 

12/11/2020

     Sale        119,600        $10.2296  (7) 

12/14/2020

     Sale        211,500        $10.2255  (8) 

12/15/2020

     Sale        148,214        $10.441  (9) 

12/16/2020

     Sale        142,186        $10.4591  (10) 

12/17/2020

     Sale        150,000        $10.4548  (11) 

 

(1)

Reflects the weighted average sale price. The range of prices for such transaction is between $10.325 and $10.610.

(2)

Reflects the weighted average sale price. The range of prices for such transaction is between $10.45 and $10.61.


CUSIP No. 251591103    SCHEDULE 13D    Page 5 of 7 Pages

 

(3)

Reflects the weighted average sale price. The range of prices for such transaction is between $10.18 and $10.50.

(4)

Reflects the weighted average sale price. The range of prices for such transaction is between $10.10 and $10.35.

(5)

Reflects the weighted average sale price. The range of prices for such transaction is between $10.15 and $10.55.

(6)

Reflects the weighted average sale price. The range of prices for such transaction is between $10.23 and $10.58.

(7)

Reflects the weighted average sale price. The range of prices for such transaction is between $10.10 and $10.32.

(8)

Reflects the weighted average sale price. The range of prices for such transaction is between $10.10 and $10.54.

(9)

Reflects the weighted average sale price. The range of prices for such transaction is between $10.1150 and $10.61.

(10)

Reflects the weighted average sale price. The range of prices for such transaction is between $10.35 and $10.70.

(11)

Reflects the weighted average sale price. The range of prices for such transaction is between $10.40 and $10.5150.

Item 7. Material to Be Filed as Exhibits.

 

Exhibit 1    Joint Filing Agreement, dated June 20, 2013, among Mr. Otto and Katharina Otto-Bernstein, incorporated herein by reference to Exhibit 1 of Schedule 13D/A filed on June 20, 2013
Exhibit 2    Investor Rights Agreement, dated May 11, 2009, between Mr. Otto and Developers Diversified Realty Corporation, incorporated herein by reference to Exhibit 10.1 of Form 8-K filed on May 11, 2009


CUSIP No. 251591103    SCHEDULE 13D    Page 6 of 7 Pages

 

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.

Dated: December 18, 2020

 

ALEXANDER OTTO

/s/ Dr. Thomas Finne

By:   Dr. Thomas Finne, managing director of KG CURA Vermögensverwaltung G.m.b.H. & Co
For:   Alexander Otto
KATHARINA OTTO-BERNSTEIN

/s/ Dr. Thomas Finne

By:   Dr. Thomas Finne, managing director of KG CURA Vermögensverwaltung G.m.b.H. & Co
For:   Katharina Otto-Bernstein


EXHIBIT INDEX

 

Exhibit 1    Joint Filing Agreement, dated June 20, 2013, among Mr. Otto and Katharina Otto-Bernstein, incorporated herein by reference to Exhibit 1 of Schedule 13D/A filed on June 20, 2013
Exhibit 2    Investor Rights Agreement, dated May 11, 2009, between Mr. Otto and Developers Diversified Realty Corporation, incorporated herein by reference to Exhibit 10.1 of Form 8-K filed on May 11, 2009