As Filed with the Securities and Exchange Commission on May 28, 2003
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Amendment No. 8)
Under the Securities Exchange Act of 1934
Capital Trust, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Class A Common Stock, par value $0.01 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
14052H100
--------------------------------------------------------------------------------
(CUSIP Number)
Michael L. Zuppone, Esq.
Paul, Hastings, Janofsky & Walker LLP
75 East 55th Street
New York, New York 10022
(212) 318-6000
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
February 7, 2003
-------------------------------------------------------------------------------
(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
|_|.
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).
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 2 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Veqtor Finance Company, L.L.C.
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 897,429
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
897,429
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
897,429
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.54%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 3 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Zell General Partnership, Inc.
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 922,429
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
922,429
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
922,429
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.00%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 4 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sam Investment Trust
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 922,429
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
922,429
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
922,429
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.00%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 5 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Chai Trust Company, L.L.C.
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 922,429
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
922,429
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
922,429
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.00%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 6 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SZ Investments, L.L.C.
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 25,000
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
25,000
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,000
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.46%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 7 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Samstock, L.L.C.
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, WC
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 25,000
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
25,000
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,000
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.46%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 8 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CMH Investment Partnership LP
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 610,044
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
610,044
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
610,044
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.24%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 9 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Craig M. Hatkoff
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 667,797
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
667,797
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
667,797
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.31%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 10 of 17 Pages
--------- ----- ----
---------------------- -------------------------
--------------------------------------------------------------------------------
1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JRK Investment Partnership LP
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 600,044
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
600,044
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
600,044
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.06%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- -------------------------
CUSIP No. 14052H100 Page 11 of 17 Pages
--------- ----- ----
---------------------- -------------------------
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1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John R. Klopp
--------------------------------------------------------------------------------
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) | |
--------------------------------------------------------------------------------
3
SEC USE ONLY
--------------------------------------------------------------------------------
4
SOURCE OF FUNDS
AF, BK
--------------------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------------------------------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
SHARES 774,674
BENEFICIALLY ----------------------------------------------------------
OWNED BY SHARED VOTING POWER
EACH 8
REPORTING 0
PERSON ----------------------------------------------------------
WITH SOLE DISPOSITIVE POWER
9
774,674
----------------------------------------------------------
SHARED DISPOSITIVE POWER
10
0
--------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
774,674
--------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.28%
--------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
---------------------- -------------------------
CUSIP No. 14052H100 Page 12 of 17 Pages
--------- ----- ----
---------------------- -------------------------
This Amendment No. 8 to Schedule 13D is filed by the Reporting Persons
(as defined below) pursuant to rule 13d-2(a) under the Securities Exchange Act
of 1934, as amended. This Amendment No. 8 to Schedule 13D amends and
supplements:
o the Schedule 13D, dated July 15, 1997, as filed with the
Securities and Exchange Commission (the "SEC") on July 25,
1997, as amended by
o Amendment No. 1, as filed with the SEC on December 22, 1997,
as amended by
o Amendment No. 2, as filed with the SEC on July 2, 1998, as
amended by
o Amendment No. 3, as filed with the SEC on August 19, 1999, as
amended by
o Amendment No. 4, as filed with the SEC on September 30, 1999,
as amended by
o Amendment No. 5, as filed with the SEC on February 2, 2000, as
amended by
o Amendment No. 6, as filed with the SEC on May 23, 2000, as
amended by
o Amendment No. 7, as filed with the SEC on November 2, 2001
(together with the original Schedule as previously amended,
the "Schedule 13D").
The Reporting Persons are:
(i) Veqtor Finance Company, L.L.C., a Delaware limited
liability company ("VFC");
(ii) Samstock, L.L.C., a Delaware limited liability company
("Samstock");
(iii) SZ Investments, L.L.C., a Delaware limited liability
company and the sole member of Samstock ("SZI");
(iv) Zell General Partnership, Inc., an Illinois corporation
and the sole managing member of SZI and the sole managing
member of VFC ("Zell GP");
(v) the Sam Investment Trust, a trust formed under Illinois
law and the sole stockholder of Zell GP ("Sam Trust");
(vi) Chai Trust Company, L.L.C., an Illinois limited liability
company and the trustee of Sam Trust ("Chai")
---------------------- -------------------------
CUSIP No. 14052H100 Page 13 of 17 Pages
--------- ----- ----
---------------------- -------------------------
(vii) CMH Investment Partnership LP, a Delaware limited
partnership ("Hatkoff LP")
(viii) Mr. Craig M. Hatkoff, a citizen of the United States and
the general partner of Hatkoff LP ("Hatkoff");
(ix) JRK Investment Partnership LP, a Delaware limited
partnership ("Klopp LP"); and
(x) Mr. John R. Klopp, a citizen of the United States and the
general partner of Klopp LP ("Klopp" and, collectively
with VFC, Samstock, SZI, Zell GP, Sam Trust, Chai, Hatkoff
LP, Hatkoff and Klopp LP, the "Reporting Persons").
The original schedule reported beneficial ownership of class A common
shares of beneficial interest, $1.00 par value (the "Class A Common Shares"), in
Capital Trust, a California business trust. As reported in Amendment No. 3 to
schedule 13D, Capital Trust reorganized into Capital Trust, Inc., a Maryland
corporation and each Class A Common Share was converted into one share of class
A common stock, par value $0.01 per share, of Capital Trust, Inc. This statement
therefore relates to the shares of class A common stock, par value $0.01 per
share ("Class A Common Stock"), of Capital Trust, Inc. (hereinafter the
"Issuer"), whose principal office is located at 410 Park Avenue, 14th Floor, New
York, New York 10022. All information in this Amendment No. 8 to Schedule 13D
has been adjusted to give effect to the Issuer's one (1) for three (3) reverse
stock split which became effective April 2, 2003. All capitalized terms not
otherwise defined herein shall have the meanings ascribed thereto in the
Schedule 13D.
Item 5. Interest in Securities of the Issuer.
Item 5 is amended as follows:
(a) and (b) The aggregate percentage of shares of Class A Common Stock
reported beneficially owned by the Reporting Persons as of the date of filing of
this Amendment No. 8 to the Schedule 13D is based upon 5,425,678 shares of Class
A Common Stock issued and outstanding as of May 13, 2003 as reported in the
Issuer's Quarterly Report on Form 10-Q, as filed with the SEC on May 15, 2003.
The Reporting Persons as a group beneficially own 2,364,900 shares of Class A
Common Stock, including (i) 2,171,480 outstanding shares of Class A Common
Stock; and (ii) 193,420 shares of stock issuable upon exercise or conversion of
outstanding stock options and stock units. The foregoing shares represent
approximately 43.59% of the outstanding shares of Class A Common Stock
(calculated in accordance with Rule 13d-3(d)(1)).
VFC holds of record and thereby directly beneficially owns and has the
sole direct power to vote and dispose of 897,429 outstanding shares of Class A
Common Stock (the "VFC Reported Shares"). Chai, Sam Trust and Zell GP each have
the sole indirect power to vote and dispose of the VFC Reported Shares. Samstock
directly beneficially owns and has the sole direct power to vote and dispose of
25,000 shares of Class A Common Stock ("Samstock Reported
---------------------- -------------------------
CUSIP No. 14052H100 Page 14 of 17 Pages
--------- ----- ----
---------------------- -------------------------
Shares"). Chai, Sam Trust, Zell GP and SZI each have the sole indirect power to
vote and dispose of the Samstock Reported Shares. Hatkoff LP holds of record and
thereby directly beneficially owns and has the sole power to vote and dispose of
610,044 outstanding shares of Class A Common Stock (the "Hatkoff LP Reported
Shares"). Hatkoff has the sole indirect power to vote or dispose of the Hatkoff
LP Reported Shares. Hatkoff beneficially owns and has the sole power to vote and
dispose of 6,000 outstanding shares of Class A Common Stock. Hatkoff
beneficially owns and will have the sole power to vote and dispose of 51,753
shares of Class A Common Stock issuable upon the exercise of options to purchase
and stock units to obtain shares of Class A Common Stock that are, or become
within 60 days, vested and exercisable. Klopp LP holds of record and thereby
directly beneficially owns and has the sole power to vote and dispose of 600,044
outstanding shares of Class A Common Stock (the "Klopp LP Reported Shares").
Klopp has the sole indirect power to vote or dispose of the Klopp LP Reported
Shares. Klopp beneficially owns and has the sole power to vote and dispose of
23,086 outstanding shares of Class A Common Stock. Klopp holds of record and
thereby directly beneficially owns and has the sole power to vote 9,876
outstanding shares of Class A Common Stock subject to a restricted stock grant.
Klopp beneficially owns and will have the sole power to vote and dispose of
141,668 shares of Class A Common Stock issuable upon the exercise of options to
purchase shares of Class A Common Stock that are, or become within 60 days,
vested and exercisable.
(c) Pursuant to a privately negotiated over-the-counter transaction
which closed on February 7, 2003, VFC, Klopp LP and Hatkoff LP each sold 166,666
shares of Class A Common Stock at a price of $14.25 per share.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of Issuer.
Item 6 is amended by adding the following:
Pursuant to a written waiver, dated as of February 7, 2003, General REMI
II agreed to grant Klopp, Klopp LP and Veqtor a permanent waiver of the lock-up
provisions of the stockholder voting and lock-up agreement to which they were a
party with General REMI II (the "Waivers"). A copy of the Waivers are attached
hereto as Exhibits 1 and 2 and are incorporated herein by reference.
On February 1, 2002, pursuant to the Issuer's incentive stock plan,
Klopp was granted a stock option to purchase 83,333 shares of Class A Common
Stock which vests and becomes exercisable in equal one third increments on the
first, second and third anniversaries of the grant date. On March 31, 2002, June
30, 2002, September 30, 2002, December 31, 2002, March 31, 2003 and April 15,
2003, pursuant to the Issuer's incentive stock plan, Hatkoff was granted stock
units which are immediately vested and convertible into 461, 506, 517, 541, 470
and 85 shares of Class A Common Stock, respectively.
To the best of knowledge of the Reporting Persons, except as described
in this Amendment No. 8, none of the Reporting Persons has effected any
transactions in the Class A Common Stock during the period which commenced sixty
days prior to the date of the event
---------------------- -------------------------
CUSIP No. 14052H100 Page 15 of 17 Pages
--------- ----- ----
---------------------- -------------------------
which triggered the filing of this Amendment No. 8 to Schedule 13D and ends on
the date of filing of this Amendment No. 8 to Schedule 13D.
Item 7. Materials to be Filed as Exhibits.
----------------------- ------------------------------------------------
Exhibit No. Description
----------------------- ------------------------------------------------
1. Waiver Letter, dated as of February 7, 2003, by
Travelers General Real Estate Mezzanine
Investments II, LLC, as agreed and acknowledged
by John R. Klopp and JRK Investment Partnership
LP.
----------------------- ------------------------------------------------
2. Waiver Letter, dated as of February 7, 2003, by
Travelers General Real Estate Mezzanine
Investments II, LLC, as agreed and acknowledged
by Veqtor Finance Company, L.L.C.
----------------------- ------------------------------------------------
[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete and correct and agrees that this statement may be
filed jointly with the other undersigned parties.
Veqtor Finance Company, L.L.C.
By: Zell General Partnership, Inc.,
its managing member
By:/s/ Donald J. Liebentritt
-------------------------
Name: Donald J. Liebentritt
Title: Vice President
Samstock, L.L.C.
By:/s/ Donald J. Liebentritt
-------------------------
Name: Donald J. Liebentritt
Title: Vice President
SZ Investments, L.L.C.
By:/s/ Donald J. Liebentritt
-------------------------
Name: Donald J. Liebentritt
Title: Vice President
Zell General Partnership, Inc.
By:/s/ Donald J. Liebentritt
-------------------------
Name: Donald J. Liebentritt
Title: Vice President
Sam Investment Trust
By: Chai Trust Company, L.L.C.,
as Trustee
By:/s/ Donald J. Liebentritt
-------------------------
Name: Donald J. Liebentritt
Title: President
Chai Trust Company, L.L.C.
By:/s/ Donald J. Liebentritt
-------------------------
Name: Donald J. Liebentritt
Title: President
CMH Investment Partnership LP
By: Craig M. Hatkoff, its general
partner
/s/ Craig M. Hatkoff
--------------------
Name: Craig M. Hatkoff
Title: General Partner
CRAIG M. HATKOFF
/s/ Craig M. Hatkoff
---------------------
JRK Investment Partnership LP
By: John R. Klopp, its general
partner
/s/ John R. Klopp
--------------------
Name: John R. Klopp
Title: General Partner
JOHN R. KLOPP
/s/ John R. Klopp
---------------------
Exhibit No.1
WAIVER
Mr. John R. Klopp
#3 Nash Island
Darien, CT 06820
JRK Investment Partnership LP
c/o Mr. John R. Klopp
#3 Nash Island
Darien, CT 06820
Attn: John R. Klopp
Dear Mr. Klopp:
This letter serves to confirm the agreement of Travelers General Real
Estate Mezzanine Investments II, LLC, a Delaware limited liability company
("General REMI II") with you regarding that certain stockholder voting and
lock-up agreement, dated as of March 8, 2000, by and among you, General REMI II,
and the other holders of capital stock of Capital Trust, Inc., a Maryland
corporation ("CT"), signatory thereto (the "Lock-Up Agreement").
You have informed General REMI II that you wish to be released from
your obligations under Section 4 of the Lock-Up Agreement which operates to
restrict your ability to transfer CT capital stock owned by you.
This will confirm that General REMI II hereby waives it rights under
and releases and forever discharges you from all obligations and liabilities,
existing and/or arising, directly or indirectly, out of, Section 4 of the
Lock-Up Agreement.
Except as expressly waived hereby, each and every term, covenant and
condition of the Lock-Up Agreement shall continue in full force and effect.
This waiver shall be construed in accordance with and governed by the
laws of the State of New York, without giving effect to the provisions, policies
or principles thereof relating to choice or conflict of laws.
General REMI II has duly executed this waiver as of February 7, 2003.
Travelers General Real Estate Mezzanine
Investments II, LLC
By: /s/ Michael D. Watson
------------------------
Name: Michael D. Watson
Title: Vice President
Agreed and Acknowledged
/s/ John R. Klopp
------------------------
John R. Klopp
JRK Investment Partnership LP
By: /s/ John R. Klopp
--------------------
Name: John R. Klopp
Title: General Partner
Exhibit No. 2
WAIVER
Veqtor Finance Company, L.L.C.
c/o Equity Group Investments, L.L.C.
Two North Riverside Plaza
Chicago, IL 60606
Attn: Donald J. Liebentritt
Dear Mr. Liebentritt:
This letter serves to confirm the agreement of Travelers General Real
Estate Mezzanine Investments II, LLC, a Delaware limited liability company
("General REMI II") with Veqtor Finance Company, L.L.C. ("VFC") regarding that
certain stockholder voting and lock-up agreement, dated as of March 8, 2000, by
and among VFC, General REMI II, and the other holders of capital stock of
Capital Trust, Inc., a Maryland corporation ("CT"), signatory thereto (the
"Lock-Up Agreement").
VFC has informed General REMI II that VFC wishes to be released from
its obligations under Section 4 of the Lock-Up Agreement which operates to
restrict VFC's ability to transfer CT capital stock owned by VFC.
This will confirm that General REMI II hereby waives it rights under
and releases and forever discharges VFC from all obligations and liabilities,
existing and/or arising, directly or indirectly, out of, Section 4 of the
Lock-Up Agreement.
Except as expressly waived hereby, each and every term, covenant and
condition of the Lock-Up Agreement shall continue in full force and effect.
This waiver shall be construed in accordance with and governed by the
laws of the State of New York, without giving effect to the provisions, policies
or principles thereof relating to choice or conflict of laws.
General REMI II has duly executed this waiver as of February 7, 2003.
Travelers General Real Estate Mezzanine
Investments II, LLC
By: /s/ Michael D. Watson
------------------------
Name: Michael D. Watson
Title: Vice President
Agreed and Acknowledged
VEQTOR FINANCE COMPANY, L.L.C.
By: Zell General Partnership, Inc.,
its managing member
By: /s/ Donald J. Liebentritt
------------------------------
Name: Donald J. Liebentritt
Title: Vice President