sec document
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
--------------
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 10)1
SL INDUSTRIES, INC.
--------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $.20 PAR VALUE
--------------------------------------------------------------------------------
(Title of Class of Securities)
784413106
--------------------------------------------------------------------------------
(CUSIP Number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
505 Park Avenue
New York, New York 10022
(212) 753-7200
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 23, 2002
--------------------------------------------------------------------------------
(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 that 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 a signed
original and five copies of the schedule, including all exhibits. See Rule 13d-7
for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 16 Pages)
--------
1 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 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. 784413106 13D Page 2 of 16 Pages
------------------------------ -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
STEEL PARTNERS II, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 734,650
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
734,650
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
734,650
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------------ -----------------------------
CUSIP No. 784413106 13D Page 3 of 16 Pages
------------------------------ -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
WARREN G. LICHTENSTEIN
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO, PF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 744,950
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
744,950
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
744,950
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------------ -----------------------------
CUSIP No. 784413106 13D Page 4 of 16 Pages
------------------------------ -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NEWCASTLE PARTNERS, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 217,350
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
217,350
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
217,350
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.7%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------------ -----------------------------
CUSIP No. 784413106 13D Page 5 of 16 Pages
------------------------------ -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NEWCASTLE CAPITAL MANAGEMENT, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 217,350
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
217,350
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
217,350
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.7%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------------ -----------------------------
CUSIP No. 784413106 13D Page 6 of 16 Pages
------------------------------ -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NEWCASTLE CAPITAL GROUP, L.L.C.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 217,350
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
217,350
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
217,350
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.7%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------------ -----------------------------
CUSIP No. 784413106 13D Page 7 of 16 Pages
------------------------------ -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MARK E. SCHWARZ
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 217,350
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
217,350
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
217,350
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.7%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------------ -----------------------------
CUSIP No. 784413106 13D Page 8 of 16 Pages
------------------------------ -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
GLEN KASSAN
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
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
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
-0-
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------------ -----------------------------
CUSIP No. 784413106 13D Page 9 of 16 Pages
------------------------------ -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
JAMES R. HENDERSON
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
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
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
-0-
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------------ -----------------------------
CUSIP No. 784413106 13D Page 10 of 16 Pages
------------------------------ -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
STEVEN WOLOSKY
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
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
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
-0-
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------------ -----------------------------
CUSIP No. 784413106 13D Page 11 of 16 Pages
------------------------------ -----------------------------
The following constitutes Amendment No. 10 ("Amendment No. 10") to
the Schedule 13D filed by the undersigned. This Amendment No. 10 amends the
Schedule 13D as specifically set forth.
Item 2(a)-(c) is hereby amended and restated as follows:
(a) This Statement is filed on behalf of Steel Partners II,
L.P., a Delaware limited partnership ("Steel Partners II"), Warren G.
Lichtenstein, Newcastle Partners, L.P., a Texas limited partnership ("NP"),
Newcastle Capital Management, L.P., a Texas limited partnership ("NCM"),
Newcastle Capital Group, L.L.C., a Texas limited liability company ("NCG"), Mark
E. Schwarz, Glen Kassan, James R. Henderson and Steven Wolosky.
Each of the foregoing are referred to as a "Reporting Person"
and collectively as the "Reporting Persons". Steel Partners L.L.C., a Delaware
limited liability company ("Partners LLC"), is the general partner of Steel
Partners II. The sole executive officer and managing member of Partners LLC is
Warren G. Lichtenstein, who is Chairman of the Board, Chief Executive Officer
and Secretary. By virtue of his position with Steel Partners II, Mr.
Lichtenstein may be deemed to be the beneficial owner of all Shares of Common
Stock held by Steel Partners II. Because Mark Schwarz is the managing member of
NCG, which is the general partner of NCM (with Mark Schwarz, NCG and NCM,
hereinafter referred to as the "Controlling Persons"), which in turn is the
general partner of NP, the Controlling Persons may be deemed to be the
beneficial owners of all Shares of Common Stock held by NP. Each of the
Reporting Persons is party to a certain Joint Filing Agreement, as further
described in Item 6. Accordingly, the Reporting Persons are hereby filing a
joint Schedule 13D.
James R. Henderson and Glen Kassan are employees of Steel
Partners, Ltd., an affiliate of Steel Partners II.
Steven Wolosky is a partner in the law firm of Olshan Grundman
Frome Rosenzweig & Wolosky LLP.
(b) The principal business address of Steel Partners II,
Partners LLC, Warren G. Lichtenstein, James R. Henderson and Glen Kassan is 150
East 52nd Street, 21st Floor, New York, New York 10022.
The principal business address of NP, NCM, NCG and Mark Schwarz
is 200 Crescent Court, Suite 670, Dallas, Texas 75201.
The principal business address of Steven Wolosky is 505 Park
Avenue, New York, New York 10022.
------------------------------ -----------------------------
CUSIP No. 784413106 13D Page 12 of 16 Pages
------------------------------ -----------------------------
(c) The principal business/occupation of Steel Partners II,
Partners LLC and Messrs. Lichtenstein, Henderson and Kassan is investing in the
securities of small-cap companies.
Mark Schwarz is the managing member of NCG. The principal
business of NCG is acting as the general partner of NCM. The principal business
of NCM is acting as the general partner of NP. The principal business of NP is
investing in securities.
Steven Wolosky is a partner in the law firm of Olshan Grundman
Frome Rosenzweig & Wolosky LLP.
Item 4 is hereby amended to add the following:
At the election of the Board of Directors of the Issuer held on
January 22, 2002, the nominees of The RORID Committee, Warren G. Lichtenstein,
Mark E. Schwarz, Glen Kassan, James R. Henderson and Steven Wolosky were elected
to the Board of Directors. Accordingly, The RORID Committee was disbanded and is
no longer a Reporting Person.
Item 3 is hereby amended and restated as follows:
Item 3. Source and Amount of Funds or Other Consideration.
-------------------------------------------------
(a) The aggregate purchase price of the 734,650 Shares of
Common Stock owned by Steel Partners II is $5,591,319. The Shares of Common
Stock owned by Steel Partners II were acquired with partnership funds. The
aggregate purchase price of the 10,300 Shares of Common Stock purchased by Mr.
Lichtenstein is approximately $37,509 and came from his personal funds.
(b) The aggregate purchase price of the 217,350 Shares of
Common Stock owned by NP is $1,800,787. The Shares of Common Stock owned by NP
were acquired with partnership funds. Neither NCG nor NCM directly owns any
Shares of Common Stock.
Items 5(a)-(b) are hereby amended and restated as follows:
(a)-(b) The aggregate percentage of Shares of Common Stock
reported owned by each person named herein is based upon 5,884,623 Shares
outstanding, which is the total number of Shares of Common Stock outstanding as
reported in the Issuer's Quarterly Report on Form 10-Q for the fiscal quarter
ended June 30, 2002.
As of the close of business on August 30, 2002, Steel Partners
II beneficially owned 734,650 Shares of Common Stock, constituting approximately
12.5% of the Shares outstanding. Mr. Lichtenstein beneficially owned 744,950
Shares, constituting
------------------------------ -----------------------------
CUSIP No. 784413106 13D Page 13 of 16 Pages
------------------------------ -----------------------------
approximately 12.6% of the Shares outstanding. Mr. Lichtenstein has sole voting
and dispositive power with respect to the 10,300 Shares owned by him and the
734,650 Shares owned by Steel Partners II by virtue of his authority to vote and
dispose of such Shares. All of such Shares were acquired in open-market
transactions.
As of the close of business on August 30, 2002, NP beneficially
owned 217,350 Shares of Common Stock, constituting approximately 3.7% of the
Shares outstanding. NCM, as the general partner of NP, may be deemed to
beneficially own the 217,350 Shares of Common Stock beneficially owned by NP,
constituting approximately 3.7% of the Shares outstanding. NCG, as the general
partner of NCM, which in turn is the general partner of NP, may also be deemed
to beneficially own the 217,350 Shares of Common Stock beneficially owned by NP,
constituting approximately 3.7% of the Shares outstanding. Mark Schwarz, as the
managing member of NCG, the general partner of NCM, which in turn is the general
partner of NP, may also be deemed to beneficially own the 217,350 Shares of
Common Stock beneficially owned by NP, constituting approximately 3.7% of the
Shares outstanding. All of such Shares were acquired in open-market
transactions.
Item 5(c) is hereby amended to add the following:
(c) Schedule A annexed hereto lists all transactions in the
Issuer's Common Stock during the past 60 days.
------------------------------ -----------------------------
CUSIP No. 784413106 13D Page 14 of 16 Pages
------------------------------ -----------------------------
SIGNATURES
After reasonable inquiry and to the best of his knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: August 30, 2002 STEEL PARTNERS II, L.P.
By: Steel Partners, L.L.C.
its General Partner
By: /s/ Warren G. Lichtenstein
---------------------------
Name: Warren G. Lichtenstein
Title: Chief Executive Officer
/s/ Warren G. Lichtenstein
------------------------------------
WARREN G. LICHTENSTEIN
NEWCASTLE PARTNERS, L.P.
By: NEWCASTLE CAPITAL
MANAGEMENT, L.P.
its General Partner
By: NEWCASTLE CAPITAL GROUP,
L.L.C.,
its General Partner
By: /s/ Mark E. Schwarz
---------------------------
Name: Mark E. Schwarz
Title: Managing Member
NEWCASTLE CAPITAL MANAGEMENT, L.P.
By: NEWCASTLE CAPITAL GROUP,
L.L.C.,
its General Partner
By: /s/ Mark E. Schwarz
---------------------------
Name: Mark E. Schwarz
Title: Managing Member
NEWCASTLE CAPITAL GROUP, L.L.C.
By: /s/ Mark E. Schwarz
---------------------------
Name: Mark E. Schwarz
Title: Managing Member
------------------------------ -----------------------------
CUSIP No. 784413106 13D Page 15 of 16 Pages
------------------------------ -----------------------------
/s/ Mark E. Schwarz
-----------------------------------
MARK E. SCHWARZ
/s/ Glen Kassan
------------------------------------
GLEN KASSAN
/s/ James R. Henderson
------------------------------------
JAMES R. HENDERSON
/s/ Steven Wolosky
------------------------------------
STEVEN WOLOSKY
------------------------------ -----------------------------
CUSIP No. 784413106 13D Page 16 of 16 Pages
------------------------------ -----------------------------
SCHEDULE A
Transactions in the Shares During the Past 60 Days
--------------------------------------------------
Shares of Common Stock Price Per Date of
Purchased Share($) Purchase
----------- ---------- ----------
STEEL PARTNERS II, L.P.
-----------------------
22,800 5.3947 8/23/02
29,700 5.3500 8/23/02
1,300 5.2500 8/26/02
15,600 5.1946 8/27/02
2,000 5.5350 8/28/02
600 5.6283 8/30/02