-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IujMR3isvR3sdCx/pUPUJhusdoKn4n+q3B8/6rnAIcTLcMFcd+7b8mc1nWbCl+y3 yW4O8ge3dQmlOz0uDx9i9A== 0000950144-99-001310.txt : 19990211 0000950144-99-001310.hdr.sgml : 19990211 ACCESSION NUMBER: 0000950144-99-001310 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990210 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SEACOAST BANKING CORP OF FLORIDA CENTRAL INDEX KEY: 0000730708 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 592260678 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-40843 FILM NUMBER: 99528953 BUSINESS ADDRESS: STREET 1: 815 COLORADO AVE STREET 2: P O BOX 9012 CITY: STUART STATE: FL ZIP: 34994 BUSINESS PHONE: 5612874000 MAIL ADDRESS: STREET 1: 815 COLORADO AVE STREET 2: P O BOX 9012 CITY: STUART STATE: FL ZIP: 34995 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HUDSON DENNIS S III CENTRAL INDEX KEY: 0001078596 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 815 COLORADO AVENUE STREET 2: P O BOX 9012 CITY: STUART STATE: FL ZIP: 34995-9012 BUSINESS PHONE: 5612886085 MAIL ADDRESS: STREET 1: 815 COLORADO AVENUE STREET 2: P O BOX 9012 CITY: STUART STATE: FL ZIP: 34995-9012 SC 13D 1 SEACOAST BANKING CORPORATION OF FLORIDA 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (RULE 13D-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE13d-2(a) Seacoast Banking Corporation of Florida - -------------------------------------------------------------------------------- (Name of Issuer) Class A Common Stock, $0.10 par value - -------------------------------------------------------------------------------- (Title of Class of Securities) 81170710-8 - -------------------------------------------------------------------------------- (CUSIP Number) Dennis S. Hudson, III, 2341 NW Bay Colony Court, Stuart, Florida 34994 Telephone: 561-288-6085 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) January 27, 1999 - -------------------------------------------------------------------------------- (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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [ ]. Note: Schedules filed in paper format shall include an original and five copies of the schedule, including all exhibits. See Rule 13d-1(b) for other parties to whom copies are to be sent. (Continued on following pages) (Page 1 of 6 Pages) - -------------------- 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 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). 2 CUSIP No. 81170710-8 13D Page 2 of 6 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Dennis S. Hudson, III - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 49,536(1) SHARES ------------------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 227,316(1) REPORTING ------------------------------------------------------ PERSON 9 SOLE DISPOSITIVE POWER WITH 49,536(1) ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 227,316(1) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 276,852(1) (See Item 5 below) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.6%(1) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - -------- (1) The number of shares disclosed in items 7-11 and the percentage in item 13, include shares of Class A Common Stock and shares of Class B Common Stock because the shares of Class B Common Stock are convertible into shares of Class A Common Stock at any time upon request of the holder. 3 CUSIP No. 81170710-8 13D Page 3 of 6 Pages Item 1. Security and Issuer. This statement relates to shares of the Class A Common Stock, par value $0.10 per share (the "Class A Common Stock"), of Seacoast Banking Corporation of Florida, a Florida corporation, (the "Company"). The Company's principal executive offices are located at 815 Colorado Avenue, P.O. Box 9012, Stuart, Florida 34955-9012. Item 2. Identity and Background. Mr. Dennis S. Hudson, III currently resides at 2341 NW Bay Colony Court, Stuart, Florida 34994. Mr. Hudson currently serves as Chief Executive Officer and as a director of the Company and as President, Chief Executive Officer and Chairman and a director of its subsidiary, First National Bank and Trust Company of the Treasure Coast (the "Bank"). Mr. Hudson has been a director of the Company since 1984 and a director of the Bank since 1984. Mr. Hudson is a citizen of the United States. During the last five years, Mr. Hudson has neither been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), nor has he been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration. Not applicable Item 4. Purpose of Transaction. As of January 27, 1999, Mr. Hudson contributed 2,272 shares of Class A Common Stock to Sherwood Partners, Ltd., a Florida limited partnership that is a family partnership (the "Partnership"), in exchange for 10 partnership units representing Mr. Hudson's General Partnership interest in the Partnership. The value of Mr. Hudson's partnership units is currently being appraised. The Partnership was formed to maintain continuity of control of the Company by Mr. Hudson's family. On January 27, 1999, Mr. Hudson's parents, Mr. Dennis S. Hudson, Jr. and Mrs. Anne P. Hudson, each contributed 105,000 shares of Class A Common Stock and 7,500 shares of Class B Common Stock, par value $0.10 per share ("Class B Common Stock"), to the Partnership in exchange for partnership units representing their General and Limited Partnership interests in the Partnership. For further information regarding the Partnership and the interests of the other partners, see Item 5 below. The shares of Class B Common Stock have 10 votes per share and are convertible into shares of Class A Common Stock at any time at the request of the holder. -3- 4 CUSIP No. 81170710-8 13D Page 4 of 6 Pages The Partnership may acquire additional shares of Class A and/or Class B Common Stock from time to time. Item 5. Interest in Securities of the Company. Under the Commission's rules and regulations, Mr. Hudson, as of the date of this filing, may be deemed to be the beneficial owner of a total of 253,350 shares of the Class A Common Stock, representing approximately 5.5% of the issued and outstanding shares of the Class A Common Stock. With respect to 34 of such shares, Mr. Hudson has sole voting and dispositive powers. The Partnership holds 212,272 shares of Class A Common Stock and Mr. Hudson shares voting and dispositive powers with the other General Partners, his parents, Dennis S. Hudson, Jr. and Anne P. Hudson. Mr. Hudson disclaims beneficial interest in all shares held by the Partnership except to the extent of his partnership interest. Mr. Hudson's two minor sons hold 44 shares of Class A Common Stock. Mr. Hudson disclaims beneficial ownership of his sons' shares over which he has no voting or dispositive powers. Mr. Hudson has the right to acquire 41,000 shares of Class A Common Stock by exercising options that are exercisable within 60 days of the date hereof. Under the Commission's rules and regulations, Mr. Hudson, as of the date of this filing, may be deemed to be the beneficial owner of a total of 23,502 shares of the Class B Common Stock, representing approximately 6.3% of the issued and outstanding shares of the Class B Common Stock. With respect to 8,502 of such shares, Mr. Hudson has sole voting and dispositive powers. The Partnership holds 15,000 shares of Class B Common Stock and Mr. Hudson shares voting and dispositive powers with the other General Partners, his parents, Dennis S. Hudson, Jr. and Anne P. Hudson. Mr. Hudson disclaims beneficial interest in all shares held by the Partnership except to the extent of his partnership interest. As a General Partner of the Partnership, Mr. Hudson shares voting and investment powers with the other General Partners, his parents. The General Partners together have exclusive control of the Partnership, subject to the approval of two-thirds of the Limited Partners, in certain circumstances. Mr. Hudson's parents are the only Limited Partners at this time. As a result of being a General Partner, Mr. Hudson is deemed to be the beneficial owner of all of the shares held by the Partnership, although, as stated above, he disclaims beneficial ownership in all shares held by the Partnership except to the extent of his partnership interest. Other than the transfer described in Item 4 above, Mr. Hudson has not engaged in any other transactions relating to the Class A or Class B Common Stock during the 60 day period preceding the date of filing of this statement. -4- 5 CUSIP No. 81170710-8 13D Page 5 of 6 Pages Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. Except as described herein, Mr. Hudson has no contract, arrangement, understanding or relationship with any other person with respect to shares of Class A or Class B Common Stock, including, but not limited to, transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, divisions of profits or loss, or the giving or withholding of proxies. Mr. Hudson's parents contemplate that they will transfer their Limited Partnership interests in the Partnership from time to time to trusts for the benefit of their family members, thereby transferring indirect, beneficial interests in the shares of the Company held by the Partnership. Item 7. Material to be Filed as Exhibits. None. -5- 6 CUSIP No. 81170710-8 13D Page 6 of 6 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. February 8, 1999 ------------------------------------------- Date /s/ Dennis S. Hudson, III ------------------------------------------ Signature Dennis S. Hudson, III ------------------------------------------ Name/Title Attention: International misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001) -6- -----END PRIVACY-ENHANCED MESSAGE-----