-----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, QrW3w8ztQjE28dF7BmWRSN+AOX1vfmVwMGD+DkaDiEYeVV3LIyv/9h8YkCYbXwRh lbaVp4Q+25BhGqbcb/Ikag== 0001053172-98-000002.txt : 19981111 0001053172-98-000002.hdr.sgml : 19981111 ACCESSION NUMBER: 0001053172-98-000002 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19981110 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: OIL DRI CORPORATION OF AMERICA CENTRAL INDEX KEY: 0000074046 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS MANUFACTURING INDUSTRIES [3990] IRS NUMBER: 362048898 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-10506 FILM NUMBER: 98741852 BUSINESS ADDRESS: STREET 1: 410 N MICHIGAN AVE STE 400 CITY: CHICAGO STATE: IL ZIP: 60611 BUSINESS PHONE: 3123211515 MAIL ADDRESS: STREET 1: 410 NORTH MICHIGAN AVENUE STREET 2: SUITE 400 CITY: CHICAGO STATE: IL ZIP: 60611 FORMER COMPANY: FORMER CONFORMED NAME: OIL DRI CORP OF AMERICA INC DATE OF NAME CHANGE: 19600201 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: JAFFEE INVESTMENT PARTNERSHIP LP CENTRAL INDEX KEY: 0001053172 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 362048898 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: C/O OIL-DRI CORP OF AMERICA SUITE 400 STREET 2: 410 N. MICHIGAN AVE. CITY: CHICAGO STATE: IL ZIP: 60611 BUSINESS PHONE: 3123211515 SC 13D/A 1 SCHEDULE 13D/A 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 Amendment No. 1 OIL-DRI CORPORATION OF AMERICA ------------------------------ (Name of Issuer) COMMON STOCK and CLASS B STOCK (IMMEDIATELY CONVERTIBLE INTO COMMON) ------------------------------------- (Title of Class of Securities) 677864 10 0 -------------- (CUSIP Number) MARYON GRAY, 410 N. MICHIGAN AVE., STE. 400, CHICAGO, IL 60611 -------------------------------------------------------------- 312-321-1515 ------------ (Name, Address and Telephone Number of Persons Authorized to Receive Notices and Communications) MARCH 10, 1998 -------------- (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(b)(3) or (4), check the following box [ ]. Previous filing on Schedule 13G pursuant to Rule 13d-1(c). Check the following box if a fee is being paid with this statement [ ]. 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. (Continued on following page(s)) 2 - ------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS, S.S. OR I.R.S. IDENTIFICATION NO. Jaffee Investment Partnership, L.P. 36-4199570 - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX (a) [ ] IF A MEMBER OF A GROUP (b) [X] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS - ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, United States - ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 550,000 Class B Shares SHARES ---------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH REPORTING PERSON WITH ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 550,000 Class B Shares ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 550,000 Class B Shares - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11). 38.3% of the Class B Shares and 0% of the Common Shares, together representing 29.3% of the voting power of Issuer's outstanding stock at September 30, 1998. If beneficially owned Class B Shares were converted to Common Shares, total ownership would represent 11.1% of the Common Shares outstanding. - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------
3 - ------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS, S.S. OR I.R.S. IDENTIFICATION NO. Richard M. Jaffee ###-##-#### - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX (a) [ ] IF A MEMBER OF A GROUP (b) [X] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS - ------------------------------------------------------------------------------- 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 638,455 Class B Shares SHARES 20,292 Common Shares ---------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 80,387 Class B Shares REPORTING 100 Common Shares PERSON WITH ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 638,455 Class B Shares 20,292 Common Shares ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 100 Common Shares - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 718,842 Class B Shares 20,392 Common Shares - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11). 50.0% of the Class B Shares and .5% of the Common Shares, together representing 38.4% of the voting power of Issuer's outstanding stock at September 30, 1998. If benefically owned Class B Shares were converted to Common Shares, total ownership would represent 14.4% of the Common Shares outstanding. - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------
4 - ------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS, S.S. OR I.R.S. IDENTIFICATION NO. Shirley H. Jaffee ###-##-#### - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX (a) [ ] IF A MEMBER OF A GROUP (b) [X] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS - ------------------------------------------------------------------------------- 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 80,387 Class B Shares SHARES ---------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 100 Common Shares REPORTING PERSON WITH ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 80,387 Class B Shares ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 100 Common Shares - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 80,387 Class B Shares 100 Common Shares - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11). 5.6% of the Class B Shares and 0% of the Common Shares, together representing 4.3% of the voting power of Issuer's outstanding stock at September 30, 1998. If beneficially owned Class B Shares were converted to Common Shares, total ownership would represent 1.8% of the Common Shares outstanding. - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------
5 - ------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS, S.S. OR I.R.S. IDENTIFICATION NO. Susan Jaffee Hardin ###-##-#### - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX (a) [ ] IF A MEMBER OF A GROUP (b) [X] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS - ------------------------------------------------------------------------------- 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 25,361 Class B Shares SHARES 4,701 Common Shares ---------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 37,653 Common Shares REPORTING PERSON WITH ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 25,361 Class B Shares 4,701 Common Shares ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 100 Common Shares - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 25,361 Class B Shares 42,354 Common Shares - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11). 1.8% of the Class B Shares and 1% of the Common Shares, together representing 1.6% of the voting power of Issuer's outstanding stock at September 30, 1998. If beneficially owned Class B Shares were converted to Common Shares, total ownership would represent 1.5% of the Common Shares outstanding. - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------
6 - ------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS, S.S. OR I.R.S. IDENTIFICATION NO. Karen Jaffee Cofsky ###-##-#### - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX (a) [ ] IF A MEMBER OF A GROUP (b) [X] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS - ------------------------------------------------------------------------------- 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 28,360 Class B Shares SHARES 4,063 Common Shares ---------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 11,691 Common Shares REPORTING PERSON WITH ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 28,360 Class B Shares 4,063 Common Shares ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 301 Common Shares - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 28,360 Class B Shares 15,754 Common Shares - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11). 2.0% of the Class B Shares and .4% of the Common Shares, together representing 1.6% of the voting power of Issuer's outstanding stock at September 30, 1998. If beneficially owned Class B Shares were converted to Common Shares, total ownership would represent 1.0% of the Common Shares outstanding. - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------
7 - ------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS, S.S. OR I.R.S. IDENTIFICATION NO. Nancy E. Jaffee ###-##-#### - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX (a) [ ] IF A MEMBER OF A GROUP (b) [X] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS - ------------------------------------------------------------------------------- 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 28,692 Class B Shares SHARES 243 Common Shares ---------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 100 Common Shares REPORTING PERSON WITH ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 28,692 Class B Shares 243 Common Shares ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 100 Common Shares - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 28,692 Class B Shares 343 Common Shares - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11). 2.0% of the Class B Shares and 0.0% of the Common Shares, together representing 1.5% of the voting power of Issuer's outstanding stock at September 30, 1998. If beneficially owned Class B Shares were converted to Common Shares, total ownership would represent 0.7% of the Common Shares outstanding. - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------
8 - ------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS, S.S. OR I.R.S. IDENTIFICATION NO. Daniel S. Jaffee ###-##-#### - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX (a) [ ] IF A MEMBER OF A GROUP (b) [X] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS - ------------------------------------------------------------------------------- 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 58,775 Class B Shares SHARES 36,005 Common Shares ---------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 4,102 Common Shares REPORTING ---------------------------------------------------------------- PERSON WITH 9 SOLE DISPOSITIVE POWER 58,775 Class B Shares 36,005 Common Shares ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 100 Common Shares - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 58,775 Class B Shares 40,107 Common Shares - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11). 4.2% of the Class B Shares and .9% of the Common Shares, together representing 3.4% of the voting power of Issuer's outstanding stock at September 30, 1998. If beneficially owned Class B shares were converted to Common Shares, total ownership would represent 2.2% of the Common Shares outstanding. - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------
9 ITEM 1. SECURITY AND ISSUER This statement relates to the Common Stock, par value $.10 per share (and the Class B Stock, par value $.10 per share immediately convertible into Common Stock) of Oil-Dri Corporation of America, a Delaware corporation ("Oil-Dri"). Oil-Dri's principal executive offices are located at 410 North Michigan Avenue, Suite 400, Chicago, Illinois 60611. ITEM 2. IDENTITY AND BACKGROUND (a) Name: Jaffee Investment Partnership, L.P. State of Organization: Delaware Principal Business: Investment Address of Principal Business: Oil-Dri Corporation of America 410 North Michigan Avenue Suite 400 Chicago, Illinois 60611 (d) No (e) No * * * * * (a) Richard M. Jaffee (b) Oil-Dri Corporation of America 410 North Michigan Avenue Suite 400 Chicago, Illinois 60611 (c) Chairman of the Board Oil-Dri Corporation of America 410 North Michigan Avenue Suite 400 Chicago, Illinois 60611 (d) No (e) No (f) United States * * * * * (a) Shirley H. Jaffee (b) Oil-Dri Corporation of America 410 North Michigan Avenue Suite 400 Chicago, Illinois 60611 (c) None (d) No (e) No (f) United States * * * * *
10 (a) Susan Jaffee Hardin (b) Oil-Dri Corporation of America 410 North Michigan Avenue Suite 400 Chicago, Illinois 60611 (c) Product Compliance Manager Oil-Dri Corporation of America 410 North Michigan Avenue Suite 400 Chicago, IL 60611 (d) No (e) No (f) United States * * * * * (a) Karen Jaffee Cofsky (b) Oil-Dri Corporation of America 410 North Michigan Avenue Suite 400 Chicago, Illinois 60611 (c) Human Resources Director Oil-Dri Corporation of America 410 North Michigan Avenue Suite 400 Chicago, Illinois 60611 (d) No (e) No (f) United States * * * * * (a) Nancy E. Jaffee (b) Oil-Dri Corporation of America 410 North Michigan Avenue Suite 400 Chicago, Illinois 60611 (c) None (d) No (e) No (f) United States * * * * *
11 (a) Daniel S. Jaffee (b) Oil-Dri Corporation of America 410 North Michigan Avenue Suite 400 Chicago, Illinois 60611 (c) President and CEO Oil-Dri Corporation of America 410 North Michigan Avenue Suite 400 Chicago, Illinois 60611 (d) No (e) No (f) United States
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION No purchase of securities of Oil-Dri Corporation of America ("Oil-Dri") was involved. ITEM 4. PURPOSE OF TRANSACTION The purpose of the transaction initially requiring filing of this Schedule 13D was to form the Jaffee Investment Partnership, L.P. The transaction which necessitated this Amendment to Schedule 13D was the repurchase by Oil-Dri Corporation of America ("Oil-Dri") of Common and Class B Shares from persons other than the persons named in Item 2, thus reducing the total number of shares (and votes related thereto) outstanding and increasing the percentage of such shares (and such votes) outstanding held by the persons named in Item 2. Oil-Dri repurchased 522,449 shares of stock during the fiscal year ended July 31, 1998, including 342,241 Class B shares on March 10, 1998. Oil-Dri's board of directors at its July, 1998 meeting authorized the repurchase of up to 200,000 additional shares of its outstanding Comon and Class B Stock; Messrs. Richard M. Jaffee and Daniel S. Jaffee are directors and executive officer of Oil-Dri. In addition Mr. Richard M. Jaffee has discussed with Mr. Robert D. Jaffee the possibility of exchanging on a one-for-one basis, shares of Common Stock for up to 25,000 shares of Class B Common Stock owned by Mr. Robert D. Jaffee and has made the other persons named in Item 2 aware of Mr. Robert D. Jaffee's willingness to make such exchanges. The persons named in Item 2 are each considering such exchanges. No person named in Item 2 otherwise has any present plans or proposals which relate to or would result in (i) the acquisition by any person of securities of Oil-Dri or the disposition of securities of Oil-Dri, (ii) any extraordinary corporate transaction of Oil-Dri or its subsidiaries, (iii) a sale or transfer of a material amount of assets of Oil-Dri or its subsidiaries, (iv) any change in the board of directors or management of Oil-Dri, (v) any material change in Oil-Dri's present capitalization, dividend policy, business or corporate structure, (vi) any change to Oil-Dri's charter or bylaws or other actions that may impede the acquisition of 12 control of Oil-Dri by any person, (vii) causing Oil-Dri Common Stock to cease to be listed on the New York Stock Exchange, or to become eligible for termination of registration pursuant to Section 12(g)(4) under the Securities Exchange Act of 1934, or (viii) any action similar to those enumerated above. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (a) Aggregate Number and Percentage of Class Beneficially owned The aggregate number and percentage of Class B shares (outstanding at September 30, 1998) beneficially owned by each person named in Item 2 and the aggregate number and percentage of Common Shares (outstanding at September 30, 1998) beneficially owned by each such person is shown below. The percentage of total voting power of all shares beneficially owned by each person is also shown. Note that Class B shares are entitled to 10 votes per share.
=========================================================================================================== Name # of % of # of % of Class B Detail of Class B Class B Common Detail of Common Common % of Voting Power Shares Share Ownership Shares Shares Share Ownership Shares -------- % of Common Shares if Class B Shares Owned Converted to Common ----------------------------------------------------------------------------------------------------------- Jaffee 550,000 30.2% 0 0 Investment -------- Partnership, LP 11.1% Voting Power 24.3% ----------------------------------------------------------------------------------------------------------- Richard M. 718,842 638,455 shares held 70.4% 20,392 2,292 shares held by .5% Jaffee by Richard M. Jaffee Richard M. Jaffee as -------- as Trustee under the Trustee under the Voting Power Richard M. Jaffee Richard M. Jaffee 14.4% 56.7% Revocable Trust of Revocable Trust of 6/21/74. 6/21/74. 80,387 shares held 100 shares held in by spouse, Shirley joint tenancy with H. Jaffee, as spouse. trustee under the Shirley H. Jaffee 18,000 shares are in Declaration of Trust the form of employee of 7/12/93. stock options Mrs. Jaffee has exercisable within voted these shares 60 days of the date consistent with Mr. of this filing Jaffee's voting. -----------------------------------------------------------------------------------------------------------
13 ----------------------------------------------------------------------------------------------------------- Shirley H. Jaffee 80,387 80,387 shares held 34.6% 100 Held in joint 0% by Shirley H. tenancy with spouse. -------- Voting Power Jaffee, as trustee 27.8%. under the Shirley H. 1.8% Jaffee Declaration of Trust of 7/12/93. ----------------------------------------------------------------------------------------------------------- Susan Jaffee 25,361 22,361 shares held 31.6% 42,354 4,701 shares held 1% Hardin directly. directly. -------- Voting Power 3,000 shares held as 100 shares held in 1.5% 25.6% trustee for minor joint tenancy with children. spouse. 35,553 shares held by spouse, Richard M. Hardin. 2,000 shares are in the form of employee stock options exercisable by spouse, Richard M. Hardin, within 60 days of the date of this filing. Mr. Hardin has voted his shares consistent with Ms. Hardin's voting. -----------------------------------------------------------------------------------------------------------
14 ----------------------------------------------------------------------------------------------------------- Karen Jaffee 28,360 22,360 shares held 31.6% 15,754 63 shares held .4% Cofsky directly. directly. -------- Voting Power 6,000 shares held as 301 shares held in 1.0% 25.5% trustee for minor joint tenancy with children. spouse. 4,000 shares are in the form of employee stock options exercisable within 60 days of the date of this filing. 390 shares held by spouse, Thomas F. Cofsky. 11,000 shares are in the form of employee stock options exercisable by spouse, Thomas F. Cofsky, within 60 days of this filing. Mr. Cofsky has voted his shares consistent with Mrs. Cofsky's voting. ----------------------------------------------------------------------------------------------------------- Nancy E. Jaffee 28,692 22,692 shares held 31.6% 343 243 shares held 0% directly. directly. -------- Voting Power 25.4% 6,000 shares held as 100 shares held in .7% trustee for minor joint tenancy with children. spouse. -----------------------------------------------------------------------------------------------------------
15 ----------------------------------------------------------------------------------------------------------- Daniel S. Jaffee 58,775 23,861 shares held 33.4% 40,107 3,005 shares held 1.1% directly. directly. -------- Voting Power 27.1% 3,000 shares held as 100 shares held in 2.2% trustee for minor joint tenancy with children. spouse. 15,963 shares held 33,000 shares are in as trustee of the the form of employee Shirley H. Jaffee stock options 1993 Annuity Trust exercisable within dated 5/17/93. 60 days of the date of this filing 15,951 shares held as trustee of the 2 shares held by Richard M. Jaffee spouse, Heidi M. 1993 Annuity Trust Jaffee. dated 5/17/93. 4,000 shares are in the form of employee stock options exercisable by spouse, Heidi M. Jaffee, within 60 days of the date of this filing. Mrs. Jaffee has voted her shares consistent with Mr. Jaffee's voting. ===========================================================================================================
16 (b) The voting power and power of disposition of each person named in Item 2 is shown below.
=============================================================================================================== Detail of Sole Shared Sole Shared Shared Voting Voting Detail of Shared Dispositive Dispositive Dispositive Name Power Power Voting Power Power Power Power ---------------------------------------------------------------------------------------------------------------- Jaffee 550,000 0 550,000 0 Investment Class B Class B Partnership, LP Shares Shares --------------------------------------------------------------------------------------------------------------- Richard M. 638,455 80,387 80,387 Class B shares 638,455 100 Common Shares Jaffee Class B Class B held by spouse, Shirley Class B Common held in joint Shares Shares H. Jaffee, as trustee Shares Shares tenancy with under the Shirley H. spouse. 20,292 Jaffee Declaration of Common Trust of 7/12/93. Shares Mrs. Jaffee has voted these shares consistent with Mr. Jaffee's voting. 100 Common Common Shares held in Shares joint tenancy with spouse. --------------------------------------------------------------------------------------------------------------- Shirley H. 80,387 100 Common Common Shares Held in 80,387 100 Common Shares Jaffee Class B Shares joint tenancy with spouse. Class B Common Held in joint Shares* Shares Shares tenancy with *Voting of spouse. these shares has been consistent with Mr. Richard M. Jaffee's voting of his shares. --------------------------------------------------------------------------------------------------------------- Susan Jaffee 25,361 37,653 Common Shares consist of 25,361 100 Common Shares Hardin Class B Common 100 shares held in joint Class B Common Held in joint Shares Shares tenancy with spouse and Shares Shares tenancy with 37,553 shares owned by spouse. 4,701 spouse, Richard M. Common Hardin. Mr. Hardin has 4,701 Shares voted his shares Common consistent with Ms. Shares Hardin's voting. ---------------------------------------------------------------------------------------------------------------
17 --------------------------------------------------------------------------------------------------------------- Karen Jaffee 28,360 11,691 Common Shares consist of 28,360 301 Common Shares Cofsky Class B Common 301 shares held in joint Class B Common held in joint Shares Shares tenancy with spouse and Shares Shares tenancy with 11,390 shares owned by spouse. 4,063 spouse, Thomas F. Common Cofsky. Mr. Cofsky has Shares voted his shares 63 consistent with Mrs. Common Cofsky's voting. Shares --------------------------------------------------------------------------------------------------------------- Nancy E. Jaffee 28,692 100 Common Shares held in 28,692 100 Common Shares Class B Common joint tenancy with Class B Common held in joint Shares Shares spouse. Shares Shares tenancy with spouse. 243 243 Common Common Shares Shares ---------------------------------------------------------------------------------------------------------------- Daniel S. 58,775 4,102 Common Shares consist of 58,775 100 Common Shares Jaffee Class B Common 100 shares held in joint Class B Common Held in joint Shares Shares tenancy with spouse and Shares Shares tenancy with 4,002 shares owned by spouse. 36,005 spouse, Heidi M. 36,005 Common Jaffee. Mrs. Jaffee has Common Shares voted her shares Shares consistent with Mr. Jaffee's voting. ================================================================================================================
(c) Transactions in last 60 days for each person named in Item 2 are shown below. All of the transactions were private transfers or expirations or cancellations of employee stock options. Price per share was not applicable to the transactions. On September 18, 1998 the Compensation and Stock Option Committee of the board of directors of Oil-Dri Corporation of America voted to give all employees holding employee stock options ("options") under the Oil-Dri Corporation of America Long-Term Incentive Plan ("Plan") the opportunity to have all options previously granted to them under the Plan canceled. These options would be replaced by employee stock options to purchase the same number of shares as were canceled at September 18, 1998's closing price. For the individuals named in Item 2 above and their spouses the new options would be for Class B Shares. These new options would vest 25% on each of the following dates: September 18, 2000, September 18, 2001, September 18, 2002, and September 18, 2003 and therefore do not currently result in beneficial ownership of Common Stock for purposes of Regulation 13D. This offer was accepted by all individuals named in Item 2 above and by the spouses of those individuals. This transaction resulted in a reduction of employee stock options exercisable within 60 days of this filing as detailed below. 18
================================================================== # of Securities Nature of Transaction Name Date Involved ------------------------------------------------------------------ Richard M. 9/18/ 11,875 Cancellation of Jaffee 1998 Common employee stock options Shares. to purchase 11,875 Common Shares. ----------------------------------------------------------------- Susan Jaffee 9/18/ 1,781 Common Cancellation of Hardin 1998 Shares employee stock options held by spouse to purchase 1,781 Common Shares. ------------------------------------------------------------------ Karen Jaffee 9/18/ 1,187 Common Cancellation of Cofsky 1998 Shares. employee stock options to purchase 1,187 Common Shares. 5,937 Common Cancellation of Shares employee stock options held by spouse to purchase 5,937 Common Shares. ------------------------------------------------------------------ Daniel S. 9/18/ 23,750 Cancellation of Jaffee 1998 Common Shares employee stock options to purchase 23,750 Common Shares. 1,187 Common Cancellation of employee stock Shares options held by spouse to purchase 1,187 Common Shares. ------------------------------------------------------------------
(d) No other person has the right to receive or the power to direct receipt of dividends from, or proceeds from the sale of, such securities. (e) Not applicable. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER The Limited Partnership Agreement ("Agreement") of the Jaffee Investment Partnership, L.P. provides that, subject to the limitations of the Agreement, the General Partners manage the partnership business, with all rights and powers of general partners as provided in the Delaware Revised Uniform Partnership Act. It further provides that certain decisions (distributions to Partners, sale, assignment or mortgage of, grant of security interest in, or pledge of, a Partnership Interest, borrowing, or lending, or purchasing of any security) cannot be made and, unless otherwise specifically provided in the Agreement, other decision and acts cannot be taken, unless approved by a majority of the Units held by General Partners; no General Partner holds more than three of the outstanding ten Units. It grants the power and authority over day-to-day decisions to Richard M. Jaffee as Managing General Partner. (Day-to-day decisions include the investment and reinvestment of Partnership assets in 19 any property, including stock of any corporation, and execution of any documents deemed by the Managing General Partner to be necessary for the Partnership to conduct its business.) (See Exhibit 2 to the initial filing of this Schedule 13D, incorporated herein by reference.) Based upon consultation with counsel, the Partnership and its General Partners have concluded that the initial filing of the Schedule 13D incorrectly characterized the Partnership and its General Partners as a group, and this Amendment corrects that characterization. See Southland Corporation, SEC No Action Letter (1987). The Agreement is not clear as to whether Richard M. Jaffee, as the Managing General Partner, has the power to unilaterally dispose of or vote Oil-Dri stock held by the Partnership, and as to whether, if he has such power, it can be overridden by action of the General Partners by a majority of the Units. Accordingly, based on consultation with counsel, Mr. Jaffee acknowledges the possibility, for purposes of Regulation 13D, that he could be deemed to beneficially own, but disclaims ownership of, the Partnership's 550,000 shares of Class B Common Stock (and the 550,000 shares of Common Stock into which such Class B Common Stock is convertible), which would be in addition to the Class B Common Stock and Common Stock otherwise shown herein as owned by him. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS Exhibit 1 Exhibit Pursuant To Article 13D-1 (k)(1)(iii) Exhibit 2 Jaffee Investment Partnership, LP Partnership Aggreement* Exhibit 3 Power of Attorney * Incorporated by reference to Schedule 13D, dated January 19, 1998, filed by the Reporting Persons. This Amendment No. 1 to Schedule 13D is filed on behalf of all of the persons identified on the Cover Page as Reporting Persons and includes, as Exhibit 1 attached, the agreement of all of those persons that such statement is filed on behalf of each of them. This Amendment also amends the Schedule 13D filed solely by Mr. Richard M. Jaffee, which was last previously amended on January 21, 1998. 20 SIGNATURE After reasonable inquiry and to the best of the knowledge and belief of each of the undersigned, the undersigned certify that the information set forth in this statement is true, complete and correct. Date: November 10, 1998 JAFFEE INVESTMENT PARTNERSHIP, L.P. By /s/ RICHARD M. JAFFEE --------------------------------------- Richard M. Jaffee Managing General Partner /s/ RICHARD M. JAFFEE --------------------------------------- Richard M. Jaffee /s/ SHIRLEY H. JAFFEE --------------------------------------- Shirley H. Jaffee /s/ SUSAN JAFFEE HARDIN --------------------------------------- Susan Jaffee Hardin /s/ KAREN JAFFEE COFSKY --------------------------------------- Karen Jaffee Cofsky /s/ NANCY E. JAFFEE --------------------------------------- Nancy E. Jaffee /s/ DANIEL S. JAFFEE --------------------------------------- Daniel S. Jaffee 21 EXHIBIT 1 PURSUANT TO RULE 13d-1 (k) (iii) TO SCHEDULE 13D OIL-DRI CORPORATION OF AMERICA FOR JAFFEE INVESTMENT PARTNERSHIP, L.P. ET AL The statement on Schedule 13D for Jaffee Investment Partnership, L.P. and each of the undersigned is filed on behalf of Jaffee Investment Partnership, L.P. and each of the undersigned. JAFFEE INVESTMENT PARTNERSHIP, L.P. By /S/ RICHARD M. JAFFEE --------------------------------------- Richard M. Jaffee Managing General Partner /s/ RICHARD M. JAFFEE --------------------------------------- Richard M. Jaffee /s/ SHIRLEY H. JAFFEE --------------------------------------- Shirley H. Jaffee /s/ SUSAN JAFFEE HARDIN --------------------------------------- Susan Jaffee Hardin /s/ KAREN JAFFEE COFSKY --------------------------------------- Karen Jaffee Cofsky /s/ NANCY E. JAFFEE --------------------------------------- Nancy E. Jaffee /s/ DANIEL S. JAFFEE --------------------------------------- Daniel S. Jaffee 22 EXHIBIT 3 POWER OF ATTORNEY The undersigned hereby appoint Maryon Gray and Mary Geroch, and each of them, with full power of substitution, as his or her attorneys-in-fact, to prepare and sign for himself or herself and on his or her behalf any and all filings on Schedule 13D and any amendments thereto, and any other forms which may be required by the Securities and Exchange Commission pursuant to the requirements of Regulation 13D-G of the Securities Exchange Act of 1934, and to file the same with (i) the Securities and Exchange Commission and (ii) any securities exchange upon which any of securities of Oil-Dri Corporation may then be admitted or listed for trading. The undersigned further grants to Maryon Gray and Mary Geroch authority to do and perform each and every act and thing requisite and necessary to be done in order to effectuate the same as fully to all intents and purposes as the undersigned might or could do if personally present, hereby ratifying and confirming all that said attorneys-in-fact, or any of them, or any of their substitutes, may do or cause to be done by virtue hereof. Date: October 19, 1998 JAFFEE INVESTMENT PARTNERSHIP, L.P. By /S/ RICHARD M. JAFFEE --------------------------------------- Richard M. Jaffee Managing General Partner /s/ RICHARD M. JAFFEE --------------------------------------- Richard M. Jaffee /s/ SHIRLEY H. JAFFEE --------------------------------------- Shirley H. Jaffee /s/ SUSAN JAFFEE HARDIN --------------------------------------- Susan Jaffee Hardin /s/ KAREN JAFFEE COFSKY --------------------------------------- Karen Jaffee Cofsky /s/ NANCY E. JAFFEE --------------------------------------- Nancy E. Jaffee /s/ DANIEL S. JAFFEE --------------------------------------- Daniel S. Jaffee -----END PRIVACY-ENHANCED MESSAGE-----