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"
- Peter Lynch
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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. 8)*
Coherent, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
192479103
- --------------------------------------------------------------------------------
(CUSIP Number)
with a copy to:
Augustus K. Oliver Allen B. Levithan, Esq.
Oliver Press Partners, LLC Lowenstein Sandler PC
152 West 57th Street 65 Livingston Avenue
New York, New York 10019 Roseland, New Jersey 07068
(212) 277-5654 (973) 597-2406
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 7, 2009
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule l3G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 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 Section 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 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).
Cusip No. 192479103
- --------------------------------------------------------------------------------
1. Names of Reporting Persons: Oliver Press Partners, LLC
I.R.S. Identification Nos. of above persons (entities only): 20-2688930
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions):
(a)
(b) X
- --------------------------------------------------------------------------------
3. SEC Use Only
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4. Source of Funds (See Instructions): OO
- --------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e):
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6. Citizenship or Place of Organization: Delaware
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Number of 7. Sole Voting Power: 0
---------------------------------------
Shares Beneficially 8. Shared Voting Power: 1,202,091*
---------------------------------------
Owned by
Each Reporting 9. Sole Dispositive Power: 0
---------------------------------------
Person With 10. Shared Dispositive Power: 1,202,091*
---------------------------------------
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person: 1,202,091*
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions):
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11): 4.9%*
- --------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions): IA
- --------------------------------------------------------------------------------
* This is a joint filing by Oliver Press Partners, LLC, Oliver Press Investors,
LLC, Augustus K. Oliver and Clifford Press, who share the power to vote and the
power to direct the disposition of the 165,112 shares of common stock, par value
$0.01 per share (the "Shares"), of Coherent, Inc., a Delaware corporation (the
"Company"), owned, as of December 7, 2009, by Davenport Partners, L.P., a
Delaware limited partnership, the 980,771 Shares owned by JE Partners, L.P., a
Bermuda partnership, and the 56,208 Shares owned by Oliver Press Master Fund LP,
a Cayman limited partnership.
Cusip No. 192479103
- --------------------------------------------------------------------------------
1. Names of Reporting Persons: Oliver Press Investors, LLC
I.R.S. Identification Nos. of above persons (entities only): 20-2688868
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions):
(a)
(b) X
- --------------------------------------------------------------------------------
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 7. Sole Voting Power: 0
---------------------------------------
Shares Beneficially 8. Shared Voting Power: 1,202,091*
---------------------------------------
Owned by
Each Reporting 9. Sole Dispositive Power: 0
---------------------------------------
Person With 10. Shared Dispositive Power: 1,202,091*
---------------------------------------
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person: 1,202,091*
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions):
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11): 4.9%*
- --------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions): PN
- --------------------------------------------------------------------------------
* This is a joint filing by Oliver Press Partners, LLC, Oliver Press Investors,
LLC, Augustus K. Oliver and Clifford Press, who share the power to vote and the
power to direct the disposition of the 165,112 shares of common stock, par value
$0.01 per share (the "Shares"), of Coherent, Inc., a Delaware corporation (the
"Company"), owned, as of December 7, 2009, by Davenport Partners, L.P., a
Delaware limited partnership, the 980,771 Shares owned by JE Partners, L.P., a
Bermuda partnership, and the 56,208 Shares owned by Oliver Press Master Fund LP,
a Cayman limited partnership.
Cusip No. 192479103
- --------------------------------------------------------------------------------
1. Names of Reporting Persons: Augustus K. Oliver
I.R.S. Identification Nos. of above persons (entities only):
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions):
(a)
(b) X
- --------------------------------------------------------------------------------
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 7. Sole Voting Power: 0
---------------------------------------
Shares Beneficially 8. Shared Voting Power: 1,202,091*
---------------------------------------
Owned by
Each Reporting 9. Sole Dispositive Power: 0
---------------------------------------
Person With 10. Shared Dispositive Power: 1,202,091*
---------------------------------------
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person: 1,202,091*
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions):
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11): 4.9%*
- --------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions): IN
- --------------------------------------------------------------------------------
* This is a joint filing by Oliver Press Partners, LLC, Oliver Press Investors,
LLC, Augustus K. Oliver and Clifford Press, who share the power to vote and the
power to direct the disposition of the 165,112 shares of common stock, par value
$0.01 per share (the "Shares"), of Coherent, Inc., a Delaware corporation (the
"Company"), owned, as of December 7, 2009, by Davenport Partners, L.P., a
Delaware limited partnership, the 980,771 Shares owned by JE Partners, L.P., a
Bermuda partnership, and the 56,208 Shares owned by Oliver Press Master Fund LP,
a Cayman limited partnership.
Cusip No. 192479103
- --------------------------------------------------------------------------------
1. Names of Reporting Persons: Clifford Press
I.R.S. Identification Nos. of above persons (entities only):
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions):
(a)
(b) X
- --------------------------------------------------------------------------------
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 7. Sole Voting Power: 2,000*
---------------------------------------
Shares Beneficially 8. Shared Voting Power: 1,202,091*
---------------------------------------
Owned by
Each Reporting 9. Sole Dispositive Power: 2,000*
---------------------------------------
Person With 10. Shared Dispositive Power: 1,202,091*
---------------------------------------
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person: 1,204,091*
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions):
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11): 4.9%*
- --------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions): IN
- --------------------------------------------------------------------------------
* This is a joint filing by Oliver Press Partners, LLC, Oliver Press Investors,
LLC, Augustus K. Oliver and Clifford Press, who share the power to vote and the
power to direct the disposition of the 165,112 shares of common stock, par value
$0.01 per share (the "Shares"), of Coherent, Inc., a Delaware corporation (the
"Company"), owned, as of December 7, 2009, by Davenport Partners, L.P., a
Delaware limited partnership, the 980,771 Shares owned by JE Partners, L.P., a
Bermuda partnership, and the 56,208 Shares owned by Oliver Press Master Fund LP,
a Cayman limited partnership.
Item 4. Purpose of Transaction.
----------------------
Item 4 is hereby amended by adding the following paragraph after the
last paragraph thereof:
"On December 7, 2009, JE made an in-kind pro rata distribution without
consideration of 100,000 Shares of the Company held by it to its limited
partners. OPP expects from time to time to dispose of additional shares of the
Company's common stock, through further distributions to limited partners or
sales, although if market conditions warrant, it may consider purchasing
additional shares."
Item 5. Interest in Securities of the Issuer.
------------------------------------
Item 5 is hereby deleted in its entirety and replaced with the
following:
"As of the close of business on December 7, 2009, Davenport Partners,
L.P., a Delaware limited partnership ("Davenport"), owned 165,112 Shares, JE
owned 980,771 Shares, and Oliver Press Master Fund LP, a Cayman limited
partnership ("Master Fund"), owned 56,208 Shares, constituting 0.7%, 4.0% and
0.2%, respectively, and 4.9% in the aggregate, of the approximately 24,454,611
Shares outstanding as of July 31, 2009, as disclosed in the Company's quarterly
report on Form 10-Q for the quarterly period ended July 4, 2009. OPP, as the
investment adviser to Davenport, JE and Master Fund (collectively, the
"Partner
ships"), has the power to vote and the power to direct the disposition
of such Shares. OPI, as the general partner of the Partnerships, and Messrs.
Oliver and Press, as the Managing Members of OPP and OPI, share the power to
vote and the power to direct the disposition of such Shares. As of the close of
business on December 7, 2009, Mr. Press owned, individually, 2,000 Shares.
The following table details the transactions since the Filing Parties'
last Schedule 13D amendment, dated December 1, 2009, in Shares, or securities
convertible into, exercisable for or exchangeable for Shares, effected by the
Partnerships, or any other person or entity controlled by the Partnerships or
any person or entity for which the Partnerships possess voting or investment
control over the securities thereof (each of which was effected in an ordinary
brokerage transaction).
Sales
Date Security Amount Price
12/02/2009 Shares 300 $26.50
12/03/2009 Shares 700 $26.5414
12/04/2009 Shares 10,485 $26.6185
12/07/2009 Shares 8,100 $26.8262
As of December 7, 2009, the Partnerships ceased to beneficially own
more than 5% of the outstanding Shares."
Item 7. Exhibits.
--------
Exhibit A - Joint Filing Agreement, dated as of December 7, 2009, by
and among Oliver Press Investors, LLC, Oliver Press Partners, LLC, Augustus K.
Oliver and Clifford Press.
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.
December 7, 2009
OLIVER PRESS INVESTORS, LLC
By: /s/ Augustus K. Oliver
---------------------------------
Augustus K. Oliver
Managing Member
OLIVER PRESS PARTNERS, LLC
By: /s/ Clifford Press
---------------------------------
Clifford Press
Managing Member
/s/ Augustus K. Oliver
------------------------------------
Augustus K. Oliver
/s/ Clifford Press
------------------------------------
Clifford Press
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001).
Exhibit A
JOINT FILING AGREEMENT
----------------------
The undersigned agree that this Schedule 13D Amendment No. 8 relating
to the shares of common stock of Coherent, Inc. is filed jointly on behalf of
each of the undersigned pursuant to Rule 13d-1(k).
December 7, 2009
OLIVER PRESS INVESTORS, LLC
By: /s/ Augustus K. Oliver
---------------------------------
Augustus K. Oliver
Managing Member
OLIVER PRESS PARTNERS, LLC
By: /s/ Clifford Press
---------------------------------
Clifford Press
Managing Member
/s/ Augustus K. Oliver
------------------------------------
Augustus K. Oliver
/s/ Clifford Press
------------------------------------
Clifford Press