3 1 a2045336z3.txt FORM-3

-------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION ----------------------------- FORM 3 WASHINGTON, D.C. 20549 OMB APPROVAL -------- ----------------------------- INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES OMB Number: 3235-0104 Expires: December 31, 2001 Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Estimated average burden Section 17(a) of the Public Utility Holding Company Act of 1935 or hours per response .... 0.5 (Print or Type Responses) Section 30(f) of the Investment Company Act of 1940 ----------------------------- ------------------------------------------------------------------------------------------------------------------------------------ 1. Name and Address of Reporting Person* 2. Date of Event Re- 4. Issuer Name AND Ticker or Trading Symbol quiring Statement ~~STEPHEN~~ROSENFELD A.EUGENE ~~FEINBERG~~ (Month/Day/Year) SCHULER HOMES, INC.-SHLR ------------------------------------------------- ------------------------------------------------------------ (Last) (First) (Middle) APRIL 32, 2001 5. Relationship of Reporting Person(s) 6. If Amendment, Date ----------------------- to Issuer (Check all applicable) of Original 3. IRS or Social Se- X Director (1) 10% Owner (Month/Day/Year) curity Number of ---- ---- APRIL 2, 2001 ~~450~~300 ~~PARK~~CONTINENTAL ~~AVENUE~~BLVD., ~~28TH~~SUITE ~~FLOOR~~390 Reporting Person Officer (give Other (specify --------------------- ------------------------------------------------- (Voluntary) title below) ~~X(1)~~ below) 7. Individual or (Street) ---- ---- Joint/Group Filing (Check Applicable Co-Chairman of the Board of Directors Line) ------------------------------------- Form filed by One X Reporting Person --- Form filed by More than One Reporting Person ~~NEW~~EL ~~YORK~~SEGUNDO, ~~NEW~~CALIFORNIA ~~YORK~~90245 ~~10022~~ --- ------------------------------------------------------------------------------------------------------------------------------------ (City) (State) (Zip) TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED ------------------------------------------------------------------------------------------------------------------------------------ 1. Title of Security 2. Amount of Securities 3. Ownership 4. Nature of Indirect Beneficial (Instr. 4) Beneficially Owned Form: Direct Ownership (Instr. 5) (Instr. 4) (D) or Indirect (I) (Instr. 5) ------------------------------------------------------------------------------------------------------------------------------------ ~~CLASS~~None. ~~B COMMON STOCK 18,754,727(2) I (2)~~ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over) * If the form is filed by more than one reporting person, SEE Instruction 5(b)(v). SEC 1473 (7-97)

FORM 3 (CONTINUED) TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES) ------------------------------------------------------------------------------------------------------------------------------------ 1. Title of Derivative Security 2. Date Exer- 3. Title and Amount of Securities 4. Conver- 5. Owner- 6. Nature of Indirect (Instr. 4) cisable and Underlying Derivative Security sion or ship Beneficial Expiration (Instr. 4) Exercise Form of Ownership Date Price of Deriv- (Instr. 5) (Month/Day/ Deri- ative Year) vative Security: -------------------------------------------------- Security Direct Amount (D) or Date Expir- or Indirect Exer- ation Title Number (I) cisable Date of Shares (Instr. 5) ------------------------------------------------------------------------------------------------------------------------------------ CLASS B COMMOM STOCK (2) N/A CLASS A 18,754,727(1) (2) I (1) COMMON STOCK ------------------------------------------------------------------------------------------------------------------------------------ EMPLOYEE STOCK OPTION (3) 11/21/10 CLASS A 25,000 $8.438 D (RIGHT TO BUY) COMMON STOCK ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ Explanation of Responses: (1) ~~THE~~The ~~REPORTING~~Reporting ~~PERSON~~Person ISis Athe ~~MEMBER~~beneficial OFowner Aof ~~SECTION~~DEM 13Associates, L.P., which is a limited partner of Highridge Pacific Housing Investors, L.P. (d"Highridge"). ~~GROUP~~Highridge ~~THAT~~is ~~OWNS~~a ~~MORE~~member ~~THAN~~of ~~10%~~WPH-Schuler, OFLLC, ~~THE~~which ~~ISSUER'S~~directly ~~OUTSTANDING~~owns ~~CLASS~~18,754,727 Ashares ~~COMMON~~of ~~STOCK~~Class B common stock of the issuer. ~~(2)~~The ~~THE~~Reporting ~~REPORTING~~Person ~~PERSON~~disclaims ~~EXERCISES~~beneficial ~~SOLE~~ownership ~~VOTING~~of ~~AND~~shares ~~DISPOSITIVE~~of ~~CONTROL~~Class ~~OVER~~B ~~ALL~~common ~~SECURITIES~~stock ~~HELD~~in BYwhich ~~BLACKACRE-WPH~~he does not have a pecuniary interest, ~~LLC~~and ~~("BLACKACRE")~~this report shall not be deemed an admission that such person is the beneficial owner of, ~~WHICH~~or IShas Aany ~~MEMBER~~pecuniary OFinterest ~~WPH-SCHULER~~in, ~~LLC~~such securities for purposes of Section 16 of the Securities Exchange Act of 1934, ~~WHICH~~as ~~HOLDS~~amended, or for any other purpose. The Reporting Person will have no pecuniary interest in these 18,754,727 ~~SHARES~~shares OFif ~~CLASS~~the Bmarket ~~COMMON~~price ~~STOCK~~of OFthe ~~THE~~Common ~~ISSUER~~Stock of the issuer is less than $2.33 ~~THE~~upon ~~PECUNIARY~~the ~~INTEREST~~liquidation OFof ~~THE~~WPH-Schuler ~~REPORTING~~LLC. ~~PERSON~~At INmarket ~~THE~~prices ~~SHARES~~above OFthis ~~CLASS~~figure, the Reporting Person will have a progressively larger pecuniary interest. Each share of Class B ~~COMMON~~common ~~STOCK~~stock ~~HELD~~held BYby WPH-~~SCHULER~~Schuler ~~VARIES~~LLC ~~ACCORDING~~is TOconvertible ~~THE~~into ~~MARKET~~one ~~PRICE~~share OFof ~~THE~~Class ~~ISSUER~~A common stock of the issuer, as discussed in Footnote (2). Highridge and WPH-Schuler, LLC may be deemed to be members of a Section 13(d) group that beneficially owns more than 10% of the issuer'Ss ~~COMMON~~outstanding ~~STOCK~~Class A common stock. ~~EACH~~The OFReporting ~~THE~~Person ~~REPORTING~~disclaims ~~PERSON~~beneficial ~~AND~~ownership ~~BLACKACRE~~of ~~DISCLAIMS~~the ~~BENEFICIAL~~Class ~~OWNERSHIP~~A OFcommon ~~SHARES~~stock INowned ~~WHICH~~or ITdeemed ~~DOES~~beneficially ~~NOT~~owned ~~HAVE~~by other members of the group. (2) Under the terms of a stockholders agreement, the Class B common stock beneficially owned by the Reporting Person may be convertible into Class A ~~PECUNIARY~~common ~~INTEREST~~stock on January 3, 2002 if other conditions are met, and could become convertible at an earlier date if certain terms of the stockholders' agreement were amended or waived. ~~/s/~~No ~~BY:~~additional ~~STEPHEN~~consideration will be paid to convert the Class B common stock into Class A common stock. ~~FEINBERG~~(3) ~~APRIL~~The 12option vests in four equal annual installments beginning on November 22, 2001. By: /s/ EUGENE ROSENFELD April 23, 2001 ------------------------------------- ----- ----------------- **Intentional misstatements or omissions of facts constitute Federal **Signature of Reporting Person Date Criminal Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, SEE Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. Page 2 SEC 1473 (7-97)

Filing Compare · SCHULER RESIDENTIAL INC