SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
CARLSON CAPITAL L P

(Last) (First) (Middle)
2100 MCKINNEY AVE
STE 1800

(Street)
DALLAS TX 75201

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SUNRISE SENIOR LIVING INC [ SRZ ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
12/19/2011
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.01 per share (the "Common Stock") 12/19/2011 P 21,500 A $4.888 5,466,627 I See footnotes (1)(2)
Common Stock 12/19/2011 P 425,000 A $4.823 5,891,627 I See footnotes (1) (2)
Common Stock 12/19/2011 P 29,380 A $4.867 5,921,007 I See footnotes (1) (2)
Common Stock 12/19/2011 P 365,000 A $4.819 6,286,007 I See footnotes (1) (2)
Common Stock 12/19/2011 P 21,700 A $4.883 6,307,707 I See footnotes (1) (2)
Common Stock 12/19/2011 P 18,004 A $4.821 6,325,711 I See footnotes (1) (2)
Common Stock 12/19/2011 P 32,796 A $4.858 6,358,507 I See footnotes (1) (2)
Common Stock 12/19/2011 P 13,954 A $4.826 6,372,461 I See footnotes (1) (2)
Common Stock 12/19/2011 P 2,700 A $4.845 6,375,161 I See footnotes (1) (2)
Common Stock 12/19/2011 P 7,466 A $4.802 6,382,627 I See footnotes (1) (2)
Common Stock 12/19/2011 P 62,500 A $4.85 6,445,127 I See footnotes (1) (2)
Common Stock 12/20/2011 P 14,550 A $5.149 6,459,677 I See footnotes (1) (2)
Common Stock 12/20/2011 P 18,350 A $5,014 6,478,027 I See footnotes (1) (2)
Common Stock 12/21/2011 P 8,500 A $5.109 6,486,527 I See footnotes (1) (2)
Common Stock 12/20/2011 P 10,000 A $5.125 6,496,527 I See footnotes (1) (2)
Common Stock 12/20/2011 P 230,000 A $5.15 6,726,527 I See footnotes
Common Stock 12/20/2011 P 13,900 A $5.12 6,740,427 I See footnotes (1) (2)
Common Stock 12/20/2011 P 21,900 A $5.039 6,762,327 I See footnotes (1) (2)
Common Stock 12/20/2011 P 7,400 A $5.114 6,769,727 I See footnotes (1) (2)
Common Stock 12/20/2011 P 10,000 A $5.13 6,779,727 I See footnotes (1) (2)
Common Stock 12/20/2011 P 7,800 A $5.244 6,787,527 I See footnotes (1) (2)
Common Stock 12/21/2011 P 11,100 A $5.523 6,798,627 I See footnotes (1) (2)
Common Stock 12/21/2011 P 135,000 A $5.415 6,933,627 I See footnotes
Common Stock 12/21/2011 P 12,500 A $5.257 6,946,127 I See footnotes (1) (2)
Common Stock 12/21/2011 P 187,000 A $5.45 7,133,127 I See footnotes (1) (2)
Common Stock 12/21/2011 P 9,300 A $5.524 7,142,427 I See footnotes (1) (2)
Common Stock 12/21/2011 P 12,500 A $5.283 7,154,927 I See footnote (1) (2)
Common Stock 12/21/2011 P 4,000 A $5.363 7,158,927 I See footnotes (1) (2)
Common Stock 12/21/2011 P 1,800 A $5.532 7,160,727 I See footnotes (1) (2)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
CARLSON CAPITAL L P

(Last) (First) (Middle)
2100 MCKINNEY AVE
STE 1800

(Street)
DALLAS TX 75201

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Black Diamond Offshore Ltd.

(Last) (First) (Middle)
2100 MCKINNEY AVENUE
SUITE 1800

(Street)
DALLAS TX 75201

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Double Black Diamond Offshore Ltd

(Last) (First) (Middle)
2100 MCKINNEY AVENUE
SUITE 1800

(Street)
DALLAS TX 75201

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Black Diamond Relative Value Offshore Ltd.

(Last) (First) (Middle)
2100 MCKINNEY AVENUE
SUITE 1800

(Street)
DALLAS TX 75201

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Asgard Investment Corp.

(Last) (First) (Middle)
2100 MCKINNEY AVENUE
SUITE 1800

(Street)
DALLAS TX 75201

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Carlson Clint Duane

(Last) (First) (Middle)
2100 MCKINNEY AVENUE
SUITE 1800

(Street)
DALLAS TX 75201

(City) (State) (Zip)
Explanation of Responses:
1. The shares of Common Stock to which this relates are held directly by Black Diamond Offshore Ltd., a Cayman Islands exempted company ("Offshore"), Double Black Diamond Offshore Ltd., a Cayman Islands exempted company ("Double Offshore"), Black Diamond Relative Value Offshore Ltd., a Cayman Islands exempted company ("Relative Value Offshore" and together with Offshore and Double Offshore, the "Funds") and three managed accounts (collectively, the "Accounts").
2. Carlson Capital, L.P., a Delaware limited partnership ("Carlson Capital") serves as the investment manager to, and has the power to direct the affairs of, the Funds. Asgard Investment Corp., a Delaware corporation ("Asgard") serves as the indirect general partner of, and has the power to direct the affairs of, Carlson Capital. Mr. Clint D. Carlson, a U.S. citizen, serves as the president of, and has the power to direct the affairs of, Asgard and Carlson Capital. Each of the reporting persons disclaims beneficial ownership of the securities to which this Form 4 relates for the purposes of Section 16 of the Securities and Exchange Act of 1934, as amended, except as to such extent of the reporting person's pecuniary interest in the securities.
Remarks:
Carlson Capital, L.P., By: /s/ Clint D. Carlson, President 12/21/2011
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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