Here are the amounts of shares owned by company insiders:
Notice that no one holds more than 4% of the class A shares.
They mostly hold class E shares. This is good because the only way management
can get money out of their E shares is to convert them to class A. The class A has to
reach certain price levels or the company has to earn millions before they can be converted.
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SECURITY OWNERSHIP OF MANAGEMENT AND PRINCIPAL SHAREHOLDERS
The following table sets forth the beneficial ownership of shares of
Class A Common Stock and Class E Common Stock of the Company on May 1, 1997 by
(i) each director, (ii) each executive officer, (iii) each stockholder known by
the Company to own beneficially five percent or more of the outstanding Class A
and Class E Common Stock of the Company, and (iv) all directors and executive
officers as a group.
The percentage ownership information set forth in the right hand column
of the following table has been computed in accordance with Securities and
Exchange Commission ("SEC") guidelines.
<TABLE>
<CAPTION>
Class A Class E
Common Stock Common Stock % of Vote of
------------ ------------ all Classes of
Name and Address Position with Number of Number of Common
of Beneficial Owner Company Shares % Owned Shares % Owned Stock
------------------- ------------- ---------- ------- ---------- ------- --------
Leslie A. Danziger Chairman and 112,946 (3) 4% 751,878(4) 19% 13%
President
Louis P. Wagman Executive Vice 18,742 (5) 1% 99,965 (6) 3% 2%
President and
Secretary
Donald E. Lawson Executive Vice 22,000 (7) 1% 25,000 1% 1%
President and
Treasurer
Louis G. Leesburg Director 22,090 (8)(14) 1% 36,360 (14) 1% 1%
Milton Klein Director 32,945 (9) 1% 119,786 (10) 3% 2%
Haydock H. Miller, Jr. Director 21,454 (11) 1% 73,819 (12) 2% 1%
The John E. Fetzer 118,447 4% 473,789 12% 9%
Institute, Inc.(13)
All executive officers 230,177 (3) 8% 1,106,808 (4) 29% 20%
and directors as a
group (6 persons) |
