SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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)
Under the Securities Exchange Act of 1934
(Amendment No. )*
Steven Madden, Ltd.
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(Name of Issuer)
Common Stock, Par Value $0.0001 Per Share
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(Title of Class of Securities)
556269108
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(CUSIP Number)
Marc Weingarten, Esq.
Schulte Roth & Zabel LLP
919 Third Avenue
New York, New York 10022
(212) 756-2000
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 16, 2007
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(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 14 Pages)
--------------------------
* 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 ("Act") 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).
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CUSIP NO. 556269108 SCHEDULE 13D PAGE 2 OF 14 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
CLINTON GROUP, INC.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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7 SOLE VOTING POWER
-0-
----------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 994,086
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
994,086
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
994,086
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.7%
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14 TYPE OF REPORTING PERSON*
IA; CO
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* SEE INSTRUCTIONS
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CUSIP NO. 556269108 SCHEDULE 13D PAGE 3 OF 14 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
CLINTON MULTISTRATEGY MASTER FUND, LTD.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
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7 SOLE VOTING POWER
-0-
----------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 472,537
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
472,537
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
472,537
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.2%
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14 TYPE OF REPORTING PERSON*
CO
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* SEE INSTRUCTIONS
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CUSIP NO. 556269108 SCHEDULE 13D PAGE 4 OF 14 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
CLINTON SPECIAL OPPORTUNITIES MASTER FUND, LTD.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
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7 SOLE VOTING POWER
-0-
----------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 341,981
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
341,981
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
341,981
--------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
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14 TYPE OF REPORTING PERSON*
CO
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* SEE INSTRUCTIONS
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CUSIP NO. 556269108 SCHEDULE 13D PAGE 5 OF 14 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
CLINTON LEXINGTON MASTER FUND, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
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7 SOLE VOTING POWER
-0-
----------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 179,568
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
179,568
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
179,568
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
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14 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS
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CUSIP NO. 556269108 SCHEDULE 13D PAGE 6 OF 14 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
GEORGE HALL
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
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7 SOLE VOTING POWER
83,400
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 994,086
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 83,400
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
994,086
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
1,077,486
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.1%
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14 TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTIONS
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CUSIP NO. 556269108 SCHEDULE 13D PAGE 7 OF 14 PAGES
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ITEM 1. SECURITY AND ISSUER.
This statement relates to the shares of Common Stock, $0.0001 par value
per share (the "Shares"), of Steven Madden, Ltd., a Delaware corporation (the
"Issuer"). The principal executive office of the Issuer is located at 52-16
Barnett Avenue, Long Island City, New York 11104.
ITEM 2. IDENTITY AND BACKGROUND.
(a) This statement is filed by Clinton Group, Inc., a Delaware
corporation ("CGI"), Clinton Multistrategy Master Fund, Ltd., a Cayman Islands
company ("CMSF"), Clinton Special Opportunities Master Fund, Ltd., a Cayman
Islands company ("CSO"), Clinton Lexington Master Fund, L.P., a Cayman Islands
exempted limited partnership ("CLEX") and George Hall (collectively, the
"Reporting Persons")
(b) The principal business address of CGI and George Hall is 9 West
57th Street, 26th Floor, New York, New York 10019. The principal business
address of CMSF CSO and CLEX is c/o Fortis Fund Services (Cayman) Limited, P.O.
Box 2003 GT, Grand Pavilion Commercial Centre, 802 West Bay Road, Grand Cayman,
Cayman Islands.
(c) The principal business of CGI is investing for funds and accounts
under its management. The principal business of CMSF, CSO and CLEX is to invest
in securities. George Hall is the Chief Investment Officer and President of CGI.
(d) None of the Reporting Persons nor any of the individuals set forth
in Schedule A attached hereto has, during the last five years, been convicted in
a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) None of the Reporting Persons nor any of the individuals set forth
in Schedule A attached hereto has, during the last five years, been a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
and as a 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.
(f) George Hall is a citizen of the United States of America.
The name, citizenship, present principal occupation or employment
and business address of each director and executive officer of CGI, CMSF, CSO
and CLEX is set forth in Schedule A attached hereto. To the best of the
Reporting Persons' knowledge, except as set forth in this statement on Schedule
13D, none of such individuals owns any Shares.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Funds for the purchase of the Shares reported herein were derived from
available capital of CMSF, CSO and CLEX. A total of approximately $25.5 million
was paid to acquire such Shares.
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CUSIP NO. 556269108 SCHEDULE 13D PAGE 8 OF 14 PAGES
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ITEM 4. PURPOSE OF TRANSACTION.
The Reporting Persons originally acquired Shares for investment in the
ordinary course of business because they believed that the Shares, when
purchased, were undervalued and represented an attractive investment
opportunity.
On October 17, 2007, CGI sent a letter to the Issuer's Chairman and
CEO, Mr. Jamieson A. Karson, to follow up on their recent discussions regarding
the Issuer's business prospects and strategy. The letter stated that, while CGI
believes that the Issuer's brand is at the strongest it has ever been, the
Issuer is nevertheless trading at historically low valuation multiples (5.1x
2007E EBITDA) and at a valuation discount to comparable companies. Among several
alternatives to enhance shareholder value that CGI had discussed with Mr. Karson
during their last conversation, the letter outlined why CGI believes that a
Dutch Tender of $180 million to repurchase Issuer shares has the best
risk/return characteristics. CGI believes that such a Dutch Tender, utilizing a
portion of the Issuer's substantial cash balance combined with a modest debt
financing, would have a more significant impact than the Issuer's pending
repurchase program, providing enhanced financial leverage to shareholders who,
like CGI, believe in the long-term prospects of the Issuer's business. CGI
stated that it believed the Dutch Tender could be executed at a range above $21
per share. A copy of the letter is attached hereto as Exhibit B and incorporated
herein by reference.
Except as set forth herein or as would occur upon completion of any of
the actions discussed herein, including in any Exhibits hereto, the Reporting
Persons have no present plan or proposal that would relate to or result in any
of the matters set forth in subparagraphs (a)-(j) of Item 4 of Schedule 13D. The
Reporting Persons intend to review their investment in the Issuer on a
continuing basis and may engage in discussions with management, the board of
directors, other shareholders of the Issuer and other relevant parties
concerning the business, operations, management, governance, strategy and future
plans of the Issuer. Depending on various factors including, without limitation,
the Issuer's financial position and strategic direction, the outcome of the
discussions and actions referenced above, actions taken by the board of
directors, price levels of the Shares, other investment opportunities available
to the Reporting Persons, conditions in the securities market and general
economic and industry conditions, the Reporting Persons may in the future take
such actions with respect to their investment in the Issuer as they deem
appropriate including, without limitation, purchasing additional Shares or
selling some or all of their Shares, engaging in short selling of or any hedging
or similar transactions with respect to the Shares and/or otherwise changing
their intention with respect to any and all matters referred to in Item 4 of
Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of the close of business on October 16, 2007, the Reporting
Persons excepting George Hall may be deemed the beneficial owners of an
aggregate of 994,086 Shares, constituting approximately 4.7% of the Shares
outstanding. George Hall may be deemed the beneficial owner of an aggregate of
1,077,486 Shares, including 83,400 Shares beneficially owned individually,
constituting approximately 5.1% of the Shares outstanding.
The aggregate percentage of Shares beneficially owned by the Reporting
Persons is based upon 21,322,038 Shares outstanding, which is the total number
of Shares outstanding as of August 6, 2007 as reported in the Issuer's Quarterly
Report on Form 10-Q filed with the Securities and Exchange Commission on August
9, 2007 for the period ended June 30, 2007.
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CUSIP NO. 556269108 SCHEDULE 13D PAGE 9 OF 14 PAGES
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(b) By virtue of investment management agreements with each of CMSF,
CSO and CLEX, CGI has the power to vote or direct the voting, and to dispose or
direct the disposition, of all of the 472,537 Shares held by CMSF, the 341,981
Shares held by CSO and the 179,586 Shares held by CLEX. By virtue of his direct
and indirect control of CGI, George Hall is deemed to have shared voting power
and shared dispositive power with respect to all Shares as to which CGI has
voting power or dispositive power, and he individually holds an additional
83,400 Shares. Accordingly, CGI and George Hall are deemed to have shared voting
and shared dispositive power with respect to an aggregate of 994,086 Shares, and
George Hall has sole voting and dispositive power with respect to an additional
83,400 Shares.
(c) Information concerning transactions in the Shares effected by the
Reporting Persons during the past sixty days is set forth in Schedule B hereto
and is incorporated herein by reference. Unless otherwise indicated, all of such
transactions were effected in the open market.
(d) No person other than the Reporting Persons is known to have the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, the Shares.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
The Reporting Persons may, from time to time, enter into and dispose of
cash-settled equity swap or other similar derivative transactions with one or
more counterparties that are based upon the value of Shares, which transactions
may be significant in amount. The profit, loss and/or return on such contracts
may be wholly or partially dependent on the market value of the Shares, the
relative value of Shares in comparison to one or more other financial
instruments, indexes or securities, a basket or group of securities in which
Shares may be included, or a combination of any of the foregoing. In addition to
the Shares that they beneficially own without reference to these contracts, the
Reporting Persons currently have long economic exposure to 325,100 Shares
through such contracts. These contracts do not give the Reporting Persons direct
or indirect voting, investment or dispositive control over any securities of the
Issuer and do not require the counterparties thereto to acquire, hold, vote or
dispose of any securities of the Issuer. Accordingly, the Reporting Persons
disclaim any beneficial ownership in any securities that may be referenced in
such contracts or that may be held from time to time by any counterparties to
such contracts.
Except as otherwise set forth herein, the Reporting Persons do not have
any contract, arrangement, understanding or relationship with any person with
respect to the securities of the Issuer.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit A - Joint Filing Agreement dated October 18, 2007
Exhibit B - Letter to the Issuer's Chairman and CEO dated October 17, 2007
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CUSIP NO. 556269108 SCHEDULE 13D PAGE 10 OF 14 PAGES
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SIGNATURES
After reasonable inquiry and to the best of his or its knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: October 18, 2007
CLINTON GROUP, INC.
By: /s/ Francis Ruchalski
---------------------------
Name: Francis Ruchalski
Title: Comptroller
CLINTON MULTISTRATEGY MASTER FUND, LTD.
By: Clinton Group, Inc. its investment
manager
By: /s/ Francis Ruchalski
---------------------------
Name: Francis Ruchalski
Title: Comptroller
CLINTON SPECIAL OPPORTUNITIES MASTER FUND, LTD.
By: Clinton Group, Inc. its investment
manager
By: /s/ Francis Ruchalski
---------------------------
Name: Francis Ruchalski
Title: Comptroller
CLINTON LEXINGTON MASTER FUND, L.P.
By: Clinton Group, Inc. its investment
manager
By: /s/ Francis Ruchalski
---------------------------
Name: Francis Ruchalski
Title: Comptroller
/s/ George Hall
------------------------------
George Hall
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CUSIP NO. 556269108 SCHEDULE 13D PAGE 11 OF 14 PAGES
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SCHEDULE A
DIRECTORS AND EXECUTIVE OFFICERS OF CERTAIN REPORTING PERSONS
The following sets forth the name, position and principal occupation of
each director and executive officer of CGI. Each such person is a citizen of the
United States of America. The business address of each director and executive
officer is 9 West 57th Street, 26th Floor, New York, New York 10019.
CLINTON GROUP, INC.
Name Position
--------------------------- -------------------------------------------
George Hall Director and President
Francis A. Ruchalski Director and Chief Financial Officer
Wendy Ruberti General Counsel and Assistant Secretary
John L. Hall Director
Hani K. Findakly Director
The following sets forth the name, citizenship, principal occupation and
business address of each director of each of CMSF and CSO, and of the general
partner of CLEX. There are no executive officers of CMSF, CSO and CLEX.
CLINTON MULTISTRATEGY MASTER FUND, LTD.
Jane Fleming is a citizen of the United Kingdom. Her principal occupation is
Client Accountant of Queensgate Bank & Trust Company Ltd. Her business address
is Queensgate Bank & Trust Company Ltd., Harbour Place, 5th Floor, 103 South
Church Street, P.O. Box 30464 SMB, Grand Cayman, Cayman Islands.
Dennis Hunter is a citizen of the United Kingdom. His principal occupation is
Director of Queensgate Bank & Trust Company Ltd. His business address is
Queensgate Bank & Trust Company Ltd., Harbour Place, 5th Floor, 103 South Church
Street, P.O. Box 30464 SMB, Grand Cayman, Cayman Islands.
Roger Hanson is a citizen of the United Kingdom. His principal occupation is
director of dms Management Ltd. His business address is dms Management Ltd.,
P.O. Box 31910 SMB, Ansbacher House, 20 Genesis Close, Grand Cayman, Cayman
Islands.
Blair Gauld is a citizen of New Zealand. His principal occupation is Director of
Queensgate Bank & Trust Company Ltd. His business address is Queensgate Bank &
Trust Company Ltd., Harbour Place, 5th Floor, 103 South Church Street, P.O. Box
30464 SMB, Grand Cayman, Cayman Islands.
CLINTON SPECIAL OPPORTUNITIES MASTER FUND, LTD.
Dennis Hunter's citizenship, principal occupation and business address are set
forth above.
Roger Hanson's citizenship, principal occupation and business address are set
forth above.
Cassandra Powell is a citizen of the Cayman Islands. Her principal occupation is
Senior Manager of Queensgate Bank & Trust Company Ltd. Her business address is
Queensgate Bank & Trust Company Ltd., Harbour Place, 5th Floor, 103 South Church
Street, P.O. Box 30464 SMB, Grand Cayman, Cayman Islands.
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CUSIP NO. 556269108 SCHEDULE 13D PAGE 12 OF 14 PAGES
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CLINTON LEXINGTON MASTER FUND, L.P.
Clinton GP, Inc., a Delaware limited liability company ("Clinton GP"), is the
general partner of Clinton Lexington Master Fund, L.P. Clinton GP is controlled
by George E. Hall. George Hall's citizenship, principal occupation and business
address are set forth above.
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CUSIP NO. 556269108 SCHEDULE 13D PAGE 13 OF 14 PAGES
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SCHEDULE B
TRANSACTIONS IN THE SHARES BY THE REPORTING PERSONS DURING THE PAST 60 DAYS
Clinton Multistrategy Master Fund, Ltd.
Trade Date Shared Purchased (Sold) Price Per Share ($)
------------ ------------------------ -------------------
08/17/07 5,000 24.15
08/17/07 9,554 24.35
08/29/07 5,011 24.74
08/29/07 2,300 24.64
08/31/07 1,000 24.72
09/13/07 12,600 19.40
09/13/07 (8,100) 19.81
09/19/07 7,500 18.55
10/01/07 16,450 19.17
10/02/07 32,300 19.03
10/02/07 9,200 19.02
10/03/07 34,500 19.01
10/04/07 42,000 18.88
10/05/07 8,600 18.83
Clinton Special Opportunities
Trade Date Shared Purchased (Sold) Price Per Share ($)
------------ ------------------------ -------------------
08/17/07 9,400 24.35
08/17/07 5,000 24.16
08/22/07 1,000 25.19
09/12/07 45,000 20.44
09/12/07 15,000 20.77
09/13/07 7,500 19.40
09/13/07 (4,800) 19.81
09/14/07 50,000 18.87
09/17/07 (40,000) 19.57
09/17/07 (10,000) 19.40
09/18/07 48,000 18.82
09/18/07 32,000 19.36
09/19/07 7,500 18.55
09/27/07 8,400 19.01
09/27/07 8,633 19.03
10/01/07 15,900 19.17
10/02/07 9,500 19.02
10/02/07 33,200 19.03
10/03/07 34,500 19.01
10/04/07 42,000 18.88
10/05/07 8,600 18.83
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CUSIP NO. 556269108 SCHEDULE 13D PAGE 14 OF 14 PAGES
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Clinton Lexington Master Fund, L.P.
Trade Date Shared Purchased (Sold) Price Per Share ($)
------------ ------------------------ -------------------
08/21/07 10,000 24.79
08/24/07 50,000 26.32
08/24/07 17,200 26.22
09/11/07 15,000 21.90
09/13/07 5,200 19.40
09/13/07 (3,300) 19.81
09/20/07 13,000 18.14
09/21/07 (14,000) 18.96
10/01/07 15,900 19.17
10/02/07 3,300 19.02
10/02/07 11,500 19.03
10/16/07 28,468 18.77
10/16/07 27,300 18.69
George Hall
Trade Date Shared Purchased (Sold) Price Per Share ($)
------------ ------------------------ -------------------
10/16/07 42,500 18.77
10/16/07 40,900 18.69