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. )(1)
Stewart & Stevenson Services, Inc.
-----------------------------------
(Name of Issuer)
Common Stock
-----------------------------
(Title of Class of Securities)
860342104
---------
(CUSIP Number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 24, 2006
--------------
(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 51 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. 860342104 13D Page 2 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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
Cayman Islands
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 317,977
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
317,977
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
317,977
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 3 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
PARCHE, LLC 20-0870632
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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 175,186
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
175,186
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
175,186
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 4 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
RCG AMBROSE MASTER FUND, LTD
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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
Cayman Islands
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 65,371
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
65,371
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
65,371
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 5 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
RCG HALIFAX FUND, LTD
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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
Cayman Islands
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 70,399
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
70,399
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
70,399
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 6 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
RAMIUS MASTER FUND, LTD.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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
Cayman Islands
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 256,456
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
256,456
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
256,456
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 7 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
ADMIRAL ADVISORS, LLC 37-1484525
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 493,163
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
493,163
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
493,163
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.7%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA, OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 8 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
RAMIUS ADVISORS, LLC 13-3954331
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 256,456
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
256,456
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
256,456
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA, OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 9 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
RAMIUS CAPITAL GROUP, LLC 13-3937658
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 885,389
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
885,389
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
885,389
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA, OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 10 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
C4S & CO., LLC 13-3946794
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 885,389
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
885,389
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
885,389
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 11 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
PETER A. COHEN
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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 - 0 -
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
885,389
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
885,389
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
885,389
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 12 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MORGAN B. STARK
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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 - 0 -
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
885,389
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
885,389
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
885,389
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 13 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
JEFFREY M. SOLOMON
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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 - 0 -
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
885,389
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
885,389
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
885,389
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 14 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
THOMAS W. STRAUSS
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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 - 0 -
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
885,389
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
885,389
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
885,389
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 15 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BARINGTON COMPANIES EQUITY PARTNERS, L.P. 13-4088890
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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 348,448
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
348,448
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
348,448
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 16 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BARINGTON COMPANIES INVESTORS, LLC 13-4126527
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 348,448
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
348,448
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
348,448
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 17 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BARINGTON COMPANIES OFFSHORE FUND, LTD. (BVI)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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
British Virgin Islands
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 207,936
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
207,936
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
207,936
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 18 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BARINGTON INVESTMENTS, L.P. 20-2871525
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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 212,238
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
212,238
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
212,238
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 19 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BARINGTON COMPANIES ADVISORS, LLC 20-0327470
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 420,174
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
420,174
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
420,174
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA, OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 20 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BARINGTON CAPITAL GROUP, L.P. 13-3635132
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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
New York
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 768,622
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
768,622
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
768,622
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 21 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LNA CAPITAL CORP. 13-3635168
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 768,622
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
768,622
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
768,622
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 22 of 51 Pages
---------------------- ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
JAMES MITAROTONDA
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(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 768,622
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
768,622
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
768,622
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------- ----------------------
CUSIP No. 860342104 13D Page 23 of 51 Pages
---------------------- ----------------------
The following constitutes the Schedule 13D filed by the undersigned
(the "Schedule 13D").
Item 1. SECURITY AND ISSUER.
This statement relates to shares of the Common Stock, without
par value (the "Shares"), of Stewart & Stevenson Services, Inc. (the "Issuer").
The address of the principal executive offices of the Issuer is 2707 North Loop
West, Houston, Texas 77008.
Item 2. IDENTITY AND BACKGROUND.
(a) This statement is filed by:
(i) Starboard Value and Opportunity Master Fund Ltd., a Cayman
Islands exempted company ("Starboard"), with respect to the
Shares directly and beneficially owned by it;
(ii) Parche, LLC, a Delaware limited liability company
("Parche"), with respect to the Shares directly and
beneficially owned by it;
(iii) RCG Ambrose Master Fund, Ltd., a Cayman Islands exempted
company ("RCG Ambrose"), with respect to the Shares directly
and beneficially owned by it;
(iv) RCG Halifax Fund, Ltd., a Cayman Islands exempted company
("RCG Halifax"), with respect to the Shares directly and
beneficially owned by it;
(v) Ramius Master Fund, Ltd., a Cayman Islands exempted company
("Ramius Master"), with respect to the Shares directly and
beneficially owned by it;
(vi) Admiral Advisors, LLC, a Delaware limited liability company
("Admiral Advisors"), who serves as the investment manager
of Starboard and the managing member of Parche;
(vii) Ramius Advisors, LLC, a Delaware limited liability company
("Ramius Advisors"), who serves as the investment manager of
Ramius Master;
(viii) Ramius Capital Group, L.L.C., a Delaware limited liability
company ("Ramius Capital"), who serves as the investment
manager of RCG Ambrose and RCG Halifax and as the sole
member of Admiral Advisors and Ramius Advisors;
(ix) C4S & Co., L.L.C., a Delaware limited liability company
("C4S"), who serves as managing member of Ramius Capital;
---------------------- ----------------------
CUSIP No. 860342104 13D Page 24 of 51 Pages
---------------------- ----------------------
(x) Peter A. Cohen ("Mr. Cohen"), who serves as one of the
managing members of C4S;
(xi) Morgan B. Stark ("Mr. Stark"), who serves as one of the
managing members of C4S;
(xii) Thomas W. Strauss ("Mr. Strauss"), who serves as one of the
managing members of C4S. Mr. Strauss is a member of the
Board of Directors of Armor Holdings, Inc. ("Armor"). Mr.
Strauss has joined this Schedule 13D as a result of his
position with Ramius Capital and its affiliates but has
recused himself from any involvement in this investment by
the Reporting Persons. Mr. Strauss has also recused himself
in his capacity as a director of Armor from any involvement
in Armor's proposed acquisition of the Issuer;
(xiii) Jeffrey M. Solomon ("Mr. Solomon"), who serves as one of the
managing members of C4S;
(xiv) Barington Companies Equity Partners, L.P., a Delaware
limited partnership ("Barington Companies Equity"), with
respect to the Shares directly and beneficially owned by it;
(xv) Barington Companies Investors, LLC, a Delaware limited
liability company ("Barington Companies Investors"), the
general partner of Barington Companies Equity;
(xvi) Barington Companies Offshore Fund, Ltd. (BVI), a limited
company organized under the laws of the British Virgin
Islands ("Barington Companies Offshore"), with respect to
the Shares directly and beneficially owned by it;
(xvii) Barington Investments, L.P., a Delaware limited partnership
("Barington Investments"), with respect to the Shares
directly and beneficially owned by it;
(xviii) Barington Companies Advisors, LLC, a Delaware limited
liability company ("Barington Companies Advisors"), who
serves as the investment advisor to Barington Companies
Offshore and the general partner of Barington Investments;
(xix) Barington Capital Group, L.P., a New York limited
partnership ("Barington Capital"), the majority member of
Barington Companies Investors and the Managing Member of
Barington Companies Advisors;
(xx) LNA Capital Corp., a Delaware corporation ("LNA"), the
general partner of Barington Capital;
---------------------- ----------------------
CUSIP No. 860342104 13D Page 25 of 51 Pages
---------------------- ----------------------
(xxi) James Mitarotonda ("Mr. Mitarotonda"), the sole stockholder
and director of LNA;
Each of the foregoing is referred to as a "Reporting Person"
and collectively as the "Reporting Persons." As of March 31, 2006, the Reporting
Persons were the beneficial owners of, in the aggregate, 1,654,011 Shares,
representing approximately 5.6% of the Shares presently outstanding. Each of the
Reporting Persons is party to that certain Joint Filing Agreement, as further
described in Item 6. Accordingly, the Reporting Persons are hereby filing a
joint Schedule 13D.
Information with respect to each of the Reporting Persons is
given solely by such Reporting Person and no Reporting Person shall have
responsibility for the accuracy or completeness of information supplied by
another Reporting Person.
(b) The address of the principal office of each of Parche,
Admiral Advisors, Ramius Advisors, Ramius Capital, C4S, Mr. Cohen, Mr. Stark,
Mr. Strauss and Mr. Solomon is 666 Third Avenue, 26th Floor, New York, New York
10017.
The address of the principal office of each of Starboard, RCG
Ambrose, RCG Halifax and Ramius Master is c/o Citco Fund Services (Cayman
Islands) Limited, Corporate Center, West Bay Road, Grand Cayman, Cayman Islands,
British West Indies. The officers and directors of each of Starboard, RCG
Ambrose, RCG Halifax and Ramius Master and their principal occupations and
business addresses are set forth on Schedule B and incorporated by reference in
this Item 2.
The address of the principal business and principal office of
each of Barington Companies Equity, Barington Companies Investors, Barington
Investments, Barington Companies Advisors, Barington Capital and LNA is 888
Seventh Avenue, 17th Floor, New York, New York 10019. The business address of
Mr. Mitarotonda is c/o Barington Capital Group, L.P., 888 Seventh Avenue, 17th
Floor, New York, New York 10019. The officers of LNA and their principal
occupations and business addresses are set forth on Schedule B and incorporated
by reference in this Item 2.
The address of the principal business and principal office of
Barington Companies Offshore is c/o Bison Financial Services LTD, Bison Court,
Road Town, Tortola, British Virgin Islands. The officers and directors of
Barington Companies Offshore and their principal occupations and business
addresses are set forth on Schedule B and incorporated by reference in this Item
2.
(c) The principal business of each of Starboard, Parche, RCG
Ambrose, RCG Halifax and Ramius Master is serving as a private investment fund.
Each of Starboard and Parche has been formed for the purpose of making equity
investments and, on occasion, taking an active role in the management of
portfolio companies in order to enhance shareholder value. The principal
business of Admiral Advisors is acting as investment manager of Starboard and
managing member of Parche. The principal business of Ramius Advisors is acting
---------------------- ----------------------
CUSIP No. 860342104 13D Page 26 of 51 Pages
---------------------- ----------------------
as an investment advisor of Ramius Master. Ramius Capital is engaged in money
management and investment advisory services for third parties and proprietary
accounts. C4S serves as managing member of Ramius Capital. Mr. Cohen, Mr.
Strauss, Mr. Stark and Mr. Solomon serve as co-managing members of C4S.
The principal business of each of Barington Companies Equity,
Barington Companies Offshore, Barington Investments and Barington Capital is
acquiring, holding and disposing of investments in various companies. The
principal business of Barington Companies Advisors is serving as the investment
advisor of Barington Companies Offshore and the general partner of Barington
Investments. The princial business of Barington Companies Investors is serving
as the general partner of Barington Companies Equity. The principal business of
LNA is serving as the general partner of Barington Capital.
The principal occupation of Mr. Mitarotonda is serving as the
Chairman and Chief Executive Officer of Barington Capital.
(d) No Reporting Person has, during the last five years, been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) No Reporting Person has, during the last five years, been
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) Messrs. Cohen, Stark, Strauss, Solomon and Mitarotonda are
citizens of the United States of America.
Each other person identified in Item 2 is a citizen of the
United States, other than Graham Cook, a director of Barington Companies
Offshore, who is a citizen of the United Kingdom, and Jonathan Clipper, a
director of Barington Companies Offshore, who is a citizen of Bermuda and the
United Kingdom.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The Shares purchased by Starboard, Parche, RCG Ambrose, RCG
Halifax, Ramius Master, Barington Companies Equity, Barington Companies Offshore
and Barington Investments were purchased with the working capital of such
entities (which may, at any given time, include margin loans made by brokerage
firms in the ordinary course of business) in open market purchases, except as
otherwise noted, as set forth in Schedule A, which is incorporated by reference
herein. The aggregate purchase cost of the 885,389 Shares beneficially owned in
the aggregate by Starboard, Parche, RCG Ambrose, RCG Halifax and Ramius Master
is approximately $25,614,885.05, including brokerage commissions. The aggregate
purchase cost of the 768,622 Shares beneficially owned in the aggregate by
Barington Companies Equity, Barington Companies Offshore and Barington
Investments is approximately $12,067,084.59, including brokerage commissions.
Certain Shares reported in the Statement as owned by Parche
were acquired in private transactions with various transferors for which Ramius
Capital or an affiliate serves as the investment manager, the managing member or
the managing member of the investment manager. Ramius Capital is the sole member
of Admiral Advisors, which is the managing member of Parche. Parche acquired
from such transferors an aggregate of 124,872 Shares on March 31, 2006 at a per
Share price of $34.8579, equal to the last reported sales price on the New York
---------------------- ----------------------
CUSIP No. 860342104 13D Page 27 of 51 Pages
---------------------- ----------------------
Stock Exchange on the date the transaction was completed, or an aggregate of
$4,352,775.69. The total of 124,872 Shares transferred to Parche were initially
acquired by the transferors for an aggregate of $4,347,367.20 (excluding
commissions and other execution related costs). Such transferors had, within the
60 days prior to the filing of the Statement, effected the following
transactions in the Shares: 3/08/06 purchased 15,400 Shares at a price per Share
of $34.4000; 3/21/06 purchased 15,400 Shares at a price per Share of $34.7898;
3/23/06 purchased 2,200 Shares at a price per Share of $34.6900; 3/24/06
purchased 64,900 Shares at a price per Share of $34.8734; 3/24/06 purchased
22,000 Shares at a price per Share of $34.8500; 3/24/06 purchased 1,100 Shares
at a price per Share of $34.8000; 3/29/06 purchased 3,872 Shares at a price per
Share of $35.4500; and 3/31/06 sold 124,872 Shares at a price per Share of
$34.8579. All purchases of Shares referenced above were funded by working
capital, which may, at any given time, include margin loans made by brokerage
firms in the ordinary course of business. The Reporting Persons do not believe
that the information contained in this paragraph is called for by the Items of
Schedule 13D and are disclosing it for supplemental informational purposes only.
Item 4. PURPOSE OF TRANSACTION.
The Reporting Persons purchased the Shares based on the
Reporting Persons' belief that the Shares, when purchased, were undervalued. The
Reporting Persons consider their equity position to be for investment purposes
only. Depending upon overall market conditions, other investment opportunities
available to the Reporting Persons, and the availability of Shares at prices
that would make the purchase of additional Shares desirable, the Reporting
Persons may, in their respective discretion, endeavor to increase their position
in the Issuer through, among other things, the purchase of Shares on the open
market or in private transactions or otherwise, on such terms and at such times
as the Reporting Persons may deem advisable. The Reporting Persons may also, in
their respective discretion, endeavor to decrease their position in the Issuer
through, among other things, the sale of Shares on the open market or in private
transactions or otherwise, on such terms and at such times as the Reporting
Persons may deem advisable.
On February 27, 2006, the Issuer issued a press release
announcing that it had entered into an Agreement and Plan of Merger (the "Merger
Agreement") with Armor Holdings, Inc., a Delaware corporation ("Armor"), and
Santana Acquisition Corp., a Texas corporation and direct wholly owned
subsidiary of Armor ("Santana"). The Reporting Persons appreciate the efforts
undertaken by the Board of Directors to seek to maximize shareholder value. The
Reporting Persons will review information it deems appropriate concerning the
merger transaction, including the proxy statement to be mailed to stockholders
by the Issuer relating to the merger and any other publicly available
information.
---------------------- ----------------------
CUSIP No. 860342104 13D Page 28 of 51 Pages
---------------------- ----------------------
As the Issuer has decided to sell itself, the primary concern
of the Issuer's Board of Directors should be to get the highest and best price
for its stockholders. The Reporting Persons trust that the Board of Directors of
the Issuer, in accordance with its fiduciary duties to stockholders, will take
all actions permitted under the Merger Agreement to facilitate any potential
superior proposals. Among other things, the Reporting Persons expect that the
Board of Directors would waive or modify any standstill provision contained in
confidentiality agreements with third parties who were part of the sales process
to permit such parties to make a superior proposal, as permitted by Section 6.06
of the Merger Agreement. The Reporting Persons believe that any such standstill
limitations should not be used as an excuse to frustrate any potential superior
proposal or to inhibit any third parties who were part of the sale process
conducted by the Issuer from submitting superior proposals.
No Reporting Person has any present plan or proposal which
would relate to or result in any of the matters set forth in subparagraphs (a) -
(j) of Item 4 of Schedule 13D except as set forth in this Schedule 13D or such
as would occur upon completion of any of the actions discussed above. The
Reporting Persons intend to review their investment in the Issuer on a
continuing basis and may seek to engage in discussions with other stockholders
concerning the merger transaction and/or with management and the Board of
Directors of the Issuer concerning the business, operations or future plans of
the Issuer. Depending on various factors including, without limitation, the
Issuer's financial position, status of the merger transaction, the price levels
of the Shares, conditions in the securities markets 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, electing to exercise their appraisal rights,
purchasing additional Shares, selling some or all of their Shares, engaging in
short selling of or any hedging or similar transaction with respect to the
Shares, taking any other action with respect to the Company or any of its
securities in any manner permitted by law or changing their intention with
respect to any and all matters referred to in Item 4.
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
The aggregate percentage of Shares reported owned by each
person named herein is based upon 29,367,498 Shares outstanding, which is the
total number of Shares outstanding as reported in the Issuer's Preliminary Proxy
Statement on Form PREM 14A filed with the Securities and Exchange Commission on
March 20, 2006.
A. Starboard
(a) As of March 31, 2006, Starboard beneficially owned 317,977
Shares.
Percentage: Approximately 1.1%
(b) 1. Sole power to vote or direct vote: 317,977
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 317,977
4. Shared power to dispose or direct the disposition: 0
(c) The number of Shares acquired by Starboard within the past 60
days is set forth in Schedule A and is incorporated by reference.
---------------------- ----------------------
CUSIP No. 860342104 13D Page 29 of 51 Pages
---------------------- ----------------------
B. Parche
(a) As of March 31, 2006, Parche beneficially owned 175,186
Shares.
Percentage: 0.6%
(b) 1. Sole power to vote or direct vote: 175,186
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 175,186
4. Shared power to dispose or direct the disposition: 0
(c) The number of Shares acquired by Parche within the past 60
days is set forth in Schedule A and is incorporated by reference.
C. RCG Ambrose
(a) As of March 31, 2006, RCG Ambrose beneficially owned 65,371
Shares.
Percentage: 0.2%
(b) 1. Sole power to vote or direct vote: 65,371
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 65,371
4. Shared power to dispose or direct the disposition: 0
(c) The number of Shares acquired by RCG Ambrose in the past 60
days is set forth in Schedule A and is incorporated by reference.
D. RCG Halifax
(a) As of March 31, 2006, RCG Halifax beneficially owned 70,399
Shares.
Percentage: 0.2%
(b) 1. Sole power to vote or direct vote: 70,399
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 70,399
4. Shared power to dispose or direct the disposition: 0
(c) The number of Shares acquired by RCG Halifax in the past 60
days is set forth in Schedule A and is incorporated by reference.
E. Ramius Master
(a) As of March 31, 2006, Ramius Master beneficially owned
256,456 Shares.
Percentage: 0.9%
---------------------- ----------------------
CUSIP No. 860342104 13D Page 30 of 51 Pages
---------------------- ----------------------
(b) 1. Sole power to vote or direct vote: 256,456
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 256,456
4. Shared power to dispose or direct the disposition: 0
(c) The number of Shares acquired by Ramius Master in the past 60
days is set forth in Schedule A and is incorporated by reference.
F. Admiral Advisors
(a) As of March 31, 2006, as the investment manager of Starboard
and the managing member of Parche, Admiral Advisors may be deemed the beneficial
owner of (i) 317,977 Shares owned by Starboard and (ii) 175,186 Shares owned by
Parche.
Percentage: Approximately 1.7%
(b) 1. Sole power to vote or direct vote: 493,163
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 493,163
4. Shared power to dispose or direct the disposition: 0
(c) Admiral Advisors did not enter into any transactions in the
Shares in the past 60 days. The transactions in the Shares in the past 60 days
on behalf of Starboard and Parche, which, except as otherwise noted, were all in
the open market, are set forth in Schedule A, and are incorporated by reference.
G. Ramius Advisors
(a) As of March 31, 2006, as the investment advisor of Ramius
Master, Ramius Advisors may be deemed the beneficial owner of 256,456 Shares
owned by Ramius Master.
Percentage: 0.9%
(b) 1. Sole power to vote or direct vote: 256,456
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 256,456
4. Shared power to dispose or direct the disposition: 0
(c) Ramius Advisors did not enter into any transactions in the
Shares in the past 60 days. The transactions in the Shares in the past 60 days
on behalf of Ramius Master, which were all in the open market, are set forth in
Schedule A, and are incorporated by reference.
H. Ramius Capital
(a) As of March 31, 2006, as the sole member of Admiral Advisors
and Ramius Advisors (the investment manager of Ramius Master) and as the
investment manager of RCG Halifax and RCG Ambrose, Ramius Capital may be deemed
---------------------- ----------------------
CUSIP No. 860342104 13D Page 31 of 51 Pages
---------------------- ----------------------
the beneficial owner of (i) 317,977 Shares owned by Starboard, (ii) 175,186
Shares owned by Parche, (iii) 65,371 Shares owned by RCG Ambrose, (iv) 70,399
Shares owned by RCG Halifax and (v) 256,456 Shares owned by Ramius Master.
Percentage: Approximately 3.0%
(b) 1. Sole power to vote or direct vote: 885,389
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 885,389
4. Shared power to dispose or direct the disposition: 0
(c) Ramius Capital did not enter into any transactions in the
Shares in the past 60 days. The transactions in the Shares in the past 60 days
on behalf of Starboard, Parche, RCG Ambrose, RCG Halifax and Ramius Master are
set forth in Schedule A, and are incorporated herein by reference.
I. C4S
(a) As of March 31, 2006, as the managing member of Ramius
Capital, C4S may be deemed the beneficial owner of (i) 317,977 Shares owned by
Starboard, (ii) 175,186 Shares owned by Parche, (iii) 65,371 Shares owned by RCG
Ambrose, (iv) 70,399 Shares owned by RCG Halifax and (v) 256,456 Shares owned by
Ramius Master.
Percentage: Approximately 3.0%
(b) 1. Sole power to vote or direct vote: 885,389
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 885,389
4. Shared power to dispose or direct the disposition: 0
(c) C4S did not enter into any transactions in the Shares in the
past 60 days. The transactions in the Shares in the past 60 days on behalf of
Starboard, Parche, RCG Ambrose, RCG Halifax and Ramius Master are set forth in
Schedule A and are incorporated by reference.
J. Mr. Cohen, Mr. Stark, Mr. Strauss and Mr. Solomon
(a) As of March 31, 2006, as the managing members of C4S, each of
Mr. Cohen, Mr. Stark, Mr. Strauss and Mr. Solomon may be deemed the beneficial
owner of (i) 317,977 Shares owned by Starboard, (ii) 175,186 Shares owned by
Parche, (iii) 65,371 Shares owned by RCG Ambrose, (iv) 70,399 Shares owned by
RCG Halifax and (v) 256,456 Shares owned by Ramius Master. Each of Messrs.
Cohen, Stark, Solomon and Strauss share voting and dispositive power with
respect to the Shares owned by Starboard, Parche, RCG Ambrose, RCG Halifax and
Ramius Master by virtue of their shared authority to vote and dispose of such
Shares. Messrs. Cohen, Stark, Solomon and Strauss disclaim beneficial ownership
of such Shares.
Percentage: Approximately 3.0%
---------------------- ----------------------
CUSIP No. 860342104 13D Page 32 of 51 Pages
---------------------- ----------------------
(b) 1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 885,389
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 885,389
(c) None of Mr. Cohen, Mr. Stark, Mr. Strauss or Mr. Solomon have
entered into any transactions in the Shares in the past 60 days. The
transactions in the Common Stock in the past 60 days on behalf of Starboard,
Parche, RCG Ambrose, RCG Halifax and Ramius Master are set forth in Schedule A
and are incorporated by reference.
K. Barington Companies Equity
(a) As of March 31, 2006, Barington Companies Equity beneficially
owned 348,448 Shares.
Percentage: Approximately 1.2%
(b) 1. Sole power to vote or direct vote: 348,448
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 348,448
4. Shared power to dispose or direct the disposition: 0
(c) The number of Shares acquired by Barington Companies Equity
in the past 60 days is set forth in Schedule A and is incorporated by reference.
L. Barington Companies Investors
(a) As of March 31, 2006, as the general partner of Barington
Companies Equity, Barington Companies Investors may be deemed the beneficial
owner of 348,448 Shares owned by Barington Companies Equity.
Percentage: Approximately 1.2%
(b) 1. Sole power to vote or direct vote: 348,448
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 348,448
4. Shared power to dispose or direct the disposition: 0
(c) Barington Companies Investors did not enter into any
transactions in the Shares in the past 60 days. The transactions in the Shares
in the past 60 days by Barington Companies Equity, which, except as otherwise
noted, were all in the open market, are set forth in Schedule A, and are
incorporated by reference.
M. Barington Companies Offshore
(a) As of March 31, 2006, Barington Companies Offshore
beneficially owned 207,936 Shares.
---------------------- ----------------------
CUSIP No. 860342104 13D Page 33 of 51 Pages
---------------------- ----------------------
Percentage: 0.7%
(b) 1. Sole power to vote or direct vote: 207,936
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 207,936
4. Shared power to dispose or direct the disposition: 0
(c) The number of Shares acquired by Barington Companies Offshore
in the past 60 days is set forth in Schedule A and is incorporated by reference.
N. Barington Investments
(a) As of March 31, 2006, Barington Investments beneficially
owned 212,238 Shares.
Percentage: 0.7%
(b) 1. Sole power to vote or direct vote: 212,238
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 212,238
4. Shared power to dispose or direct the disposition: 0
(c) The number of Shares acquired by Barington Investments in the
past 60 days is set forth in Schedule A and is incorporated by reference.
O. Barington Companies Advisors
(a) As of March 31, 2006, as the investment advisor of Barington
Companies Offshore and the general partner of Barington Investments, Barington
Companies Advisors may be deemed the beneficial owner of (i) 207,936 Shares
owned by Barington Companies Offshore and (ii) 212,238 Shares owned by Barington
Investments.
Percentage: Approximately 1.4%
(b) 1. Sole power to vote or direct vote: 420,174
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 420,174
4. Shared power to dispose or direct the disposition: 0
(c) Barington Companies Advisors did not enter into any
transactions in the Shares in the past 60 days. The transactions in the Shares
in the past 60 days by Barington Companies Offshore and Barington Investments,
which, except as otherwise noted, were all in the open market, are set forth in
Schedule A, and are incorporated by reference.
P. Barington Capital
(a) As of March 31, 2006, as the majority member of Barington
Companies Investors and the Managing Member of Barington Companies Advisors,
Barington Capital may be deemed the beneficial owner of (i) 207,936 Shares owned
---------------------- ----------------------
CUSIP No. 860342104 13D Page 34 of 51 Pages
---------------------- ----------------------
by Barington Companies Offshore, (ii) 348,448 Shares owned by Barington
Companies Equity and (iii) 212,238 Shares owned by Barington Investments.
Percentage: Approximately 2.6%
(b) 1. Sole power to vote or direct vote: 768,622
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 768,622
4. Shared power to dispose or direct the disposition: 0
(c) Barington Capital did not enter into any transactions in the
Shares in the past 60 days. The transactions in the Shares in the past 60 days
by Barington Companies Offshore, Barington Company Equity and Barington
Investments are set forth in Schedule A, and are incorporated by reference.
Q. LNA
(a) As of March 31, 2006, as the general partner of Barington
Capital, LNA may be deemed the beneficial owner of (i) 207,936 Shares owned by
Barington Companies Offshore, (ii) 348,448 Shares owned by Barington Companies
Equity and (iii) 212,238 Shares owned by Barington Investments.
Percentage: Approximately 2.6%
(b) 1. Sole power to vote or direct vote: 768,622
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 768,622
4. Shared power to dispose or direct the disposition: 0
(c) LNA did not enter into any transactions in the Shares in the
past 60 days. The transactions in the Shares in the past 60 days by Barington
Companies Offshore, Barington Companies Equity and Barington Investments are set
forth in Schedule A, and are incorporated by reference.
R. Mr. Mitarotonda
(a) As of March 31, 2006, as the sole stockholder and director of
LNA Capital Corp., Mr. Mitarotonda may be deemed the beneficial owner of (i)
348,448 Shares owned by Barington Companies Equity, (ii) 207,936 Shares owned by
Barington Companies Offshore and (iii) 212,238 Shares owned by Barington
Investments. Mr. Mitarotonda disclaims beneficial ownership of such Shares.
Percentage: Approximately 2.6%
(b) 1. Sole power to vote or direct vote: 768,622
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 768,622
4. Shared power to dispose or direct the disposition: 0
(c) Mr. Mitarotonda did not enter into any transactions in the
Shares in the past 60 days. The transactions in the Shares in the past 60 days
by Barington Companies Offshore, Barington Company Equity and Barington
Investments are set forth in Schedule A, and are incorporated by reference.
The Reporting Persons do not believe that certain of the
foregoing information is called for by the Items of Schedule 13D and are
disclosing it for supplemental informational purposes only.
---------------------- ----------------------
CUSIP No. 860342104 13D Page 35 of 51 Pages
---------------------- ----------------------
Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
On April 3, 2006, Starboard, Parche, RCG Ambrose, RCG
Halifax, Ramius Master, Admiral Advisors, Ramius Advisors, Ramius Capital, C4S,
Mr. Cohen, Mr. Solomon, Mr. Stark, Mr. Strauss, Barington Companies Equity,
Barington Companies Investors, Barington Companies Offshore, Barington
Investments, Barington Companies Advisors, Barington Capital, LNA and Mr.
Mitarotonda, entered into a Joint Filing Agreement (the "Joint Filing
Agreement") in which the parties agreed to the joint filing on behalf of each of
them of statements on Schedule 13D with respect to the securities of the Issuer
to the extent required by applicable law. The Joint Filing Agreement is attached
as an exhibit hereto and is incorporated herein by reference.
Barington Capital or one or more of its affiliates expect to
receive from Starboard and Parche a fee with respect to certain profits those
entities may derive from their investment in the Shares of the Issuer. An
agreement between the parties with respect to the foregoing has not yet been
formalized.
Other than as described herein, there are no contracts,
arrangements, understandings or relationships among the Reporting Persons, or
between the Reporting Persons and any other person, with respect to the
securities of the Issuer.
Item 7. MATERIAL TO BE FILED AS EXHIBITS.
1. Joint Filing Agreement by and among Starboard,
Parche, RCG Ambrose, RCG Halifax, Ramius Master,
Admiral Advisors, Ramius Advisors, Ramius Capital,
C4S, Mr. Cohen, Mr. Solomon, Mr. Stark, Mr. Strauss,
Barington Companies Equity, Barington Companies
Investors, Barington Companies Offshore, Barington
Investments, Barington Companies Advisors, Barington
Capital, LNA and Mr. Mitarotonda dated April 3, 2006.
2. Power of Attorney for Peter A. Cohen, Morgan B.
Stark, Thomas W. Strauss and Jeffrey M. Solomon,
dated March 11, 2005.
---------------------- ----------------------
CUSIP No. 860342104 13D Page 36 of 51 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: April 3, 2006
STARBOARD VALUE AND OPPORTUNITY RAMIUS MASTER FUND, LTD
MASTER FUND LTD. By: Ramius Advisors, LLC
its investment manager
PARCHE, LLC By: Ramius Capital Group, L.L.C.
By: Admiral Advisors, LLC, its its managing member
managing member
ADMIRAL ADVISORS, LLC
RCG AMBROSE MASTER FUND, LTD. By: Ramius Capital Group, L.L.C.,
By: Ramius Capital Group, L.L.C., its managing member
its investment manager
By: C4S & Co., L.L.C., RAMIUS ADVISORS, LLC
its managing member By: Ramius Capital Group, L.L.C.,
its managing member
RCG HALIFAX FUND, LTD. RAMIUS CAPITAL GROUP, L.L.C.
By: Ramius Capital Group, L.L.C., By: C4S & Co., L.L.C.,
its investment manager as managing member
By: C4S & Co., L.L.C.,
its managing member
C4S & CO., L.L.C.
By: /s/ Jeffrey M. Solomon
---------------------------
Name: Jeffrey M. Solomon
Title: Authorized Signatory
JEFFREY M. SOLOMON
/s/ Jeffrey M. Solomon
---------------------------
Individually and as attorney-in-fact
for Peter A. Cohen, Morgan B. Stark
and Thomas W. Strauss
---------------------- ----------------------
CUSIP No. 860342104 13D Page 37 of 51 Pages
---------------------- ----------------------
BARINGTON COMPANIES EQUITY PARTNERS, L.P.
By: Barington Companies Investors, LLC,
its general partner
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: Managing Member
BARINGTON COMPANIES INVESTORS, LLC
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: Managing Member
/s/ James A. Mitarotonda
------------------------------------
James A. Mitarotonda
BARINGTON COMPANIES OFFSHORE FUND, LTD. (BVI)
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: President
BARINGTON INVESTMENTS, L.P.
By: Barington Companies Advisors, LLC,
its general partner
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: Authorized Signatory
BARINGTON COMPANIES ADVISORS, LLC
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: Authorized Signatory
BARINGTON CAPITAL GROUP, L.P.
By: LNA Capital Corp., its general
partner
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: President and Chief Executive Officer
---------------------- ----------------------
CUSIP No. 860342104 13D Page 38 of 51 Pages
---------------------- ----------------------
LNA CAPITAL CORP.
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: President and Chief Executive Officer
---------------------- ----------------------
CUSIP No. 860342104 13D Page 39 of 51 Pages
---------------------- ----------------------
SCHEDULE A
Transactions in the Shares During the Past 60 Days
Shares of Common Stock Price Per Date of
Purchased / (Sold) Share($) Purchase / Sale
------------------ -------- ---------------
STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD.
(58,800) 34.4000 3/08/06
(58,800) 34.4000 3/08/06
(40,942) 36.4429 3/31/06
PARCHE, LLC
11,200) 34.4000 3/08/06
11,200) 34.4000 3/08/06
4,872* 34.8579 3/31/06
22,556) 36.4429 3/31/06
RCG AMBROSE MASTER FUND, LTD.
9,100 34.4000 3/08/06
9,100 34.7898 3/21/06
1,300 34.6900 3/23/06
38,350 34.8734 3/24/06
13,000 34.8500 3/24/06
650 34.8000 3/24/06
2,288 34.4500 3/29/06
(8,417) 36.4429 3/31/06
RCG HALIFAX FUND, LTD.
9,800 34.4000 3/08/06
9,800 34.7898 3/21/06
1,400 34.6900 3/23/06
---------------------- ----------------------
CUSIP No. 860342104 13D Page 40 of 51 Pages
---------------------- ----------------------
14,000 34.8500 3/24/06
41,300 34.8734 3/24/06
700 34.8000 3/24/06
2,464 35.4500 3/29/06
(9,065) 36.4429 3/31/06
RAMIUS MASTER FUND, LTD.
35,700 34.4000 3/08/06
35,700 34.7898 3/21/06
5,100 34.6900 3/23/06
51,000 34.8500 3/24/06
150,450 34.8734 3/24/06
2,550 34.8000 3/24/06
8,976 35.4500 3/29/06
(33,020) 36.4429 3/31/06
BARINGTON COMPANIES EQUITY PARTNERS, L.P.
(38,250) 36.4430 3/31/06
BARINGTON COMPANIES OFFSHORE FUND, LTD.
(22,950) 36.4430 3/31/06
BARINGTON INVESTMENTS, L.P.
(23,800) 36.4430 3/31/06
---------------------- ----------------------
CUSIP No. 860342104 13D Page 41 of 51 Pages
---------------------- ----------------------
SCHEDULE B
DIRECTORS AND OFFICERS OF STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD.
Name and Position Principal Occupation Principal Business Address
----------------- -------------------- --------------------------
Mark Mitchell Managing Director of Ramius 666 Third Avenue
Director Capital Group, L.L.C. 26th Floor
New York, New York 10017
Jeffrey M. Solomon Managing Member of C4S & Co., 666 Third Avenue
Director L.L.C., which is the Managing 26th Floor
Member of Ramius Capital New York, New York 10017
Group, L.L.C.
CFS Company Ltd. Nominee Company registered c/o Citco Fund Services
Director with Cayman Islands Monetary (Cayman Islands) Limited
Authority and is affiliated Corporate Center
with Administrator of the Fund West Bay Road
Grand Cayman, Cayman Islands
British West Indies
CSS Corporation Ltd. Affiliate of the Administrator c/o Citco Fund Services
Secretary of the Fund (Cayman Islands) Limited
Corporate Center
West Bay Road
Grand Cayman, Cayman Islands
British West Indies
---------------------- ----------------------
CUSIP No. 860342104 13D Page 42 of 51 Pages
---------------------- ----------------------
DIRECTORS AND OFFICERS OF RCG AMBROSE MASTER FUND, LTD.
Name and Position Principal Occupation Principal Business Address
----------------- -------------------- --------------------------
Mark Mitchell Managing Director of Ramius 666 Third Avenue
Director Capital Group, L.L.C. 26th Floor
New York, New York 10017
Morgan B. Stark Managing Member of C4S & Co., 666 Third Avenue
Director L.L.C., which is the Managing 26th Floor
Member of Ramius Capital New York, New York 10017
Group, L.L.C.
CFS Company Ltd. Nominee Company registered c/o Citco Fund Services
Director with Cayman Islands Monetary (Cayman Islands) Limited
Authority and is affiliated Corporate Center
with Administrator of the Fund West Bay Road
Grand Cayman, Cayman Islands
British West Indies
CSS Corporation Ltd. Affiliate of the Administrator c/o Citco Fund Services
Secretary of the Fund (Cayman Islands) Limited
Corporate Center
West Bay Road
Grand Cayman, Cayman Islands
British West Indies
---------------------- ----------------------
CUSIP No. 860342104 13D Page 43 of 51 Pages
---------------------- ----------------------
DIRECTORS AND OFFICERS OF RCG HALIFAX FUND, LTD.
Name and Position Principal Occupation Principal Business Address
----------------- -------------------- --------------------------
Morgan B. Stark Managing Member of C4S & Co., 666 Third Avenue
Director L.L.C., which is the Managing 26th Floor
Member of Ramius Capital Group, New York, New York 10017
L.L.C.
Jeffrey M. Solomon Managing Member of C4S & Co., 666 Third Avenue
Director L.L.C., which is the Managing 26th Floor
Member of Ramius Capital Group, New York, New York 10017
L.L.C.
CFS Company Ltd. Nominee Company registered with c/o Citco Fund Services
Director Cayman Islands Monetary (Cayman Islands) Limited
Authority and is affiliated Corporate Center
with Administrator of the Fund West Bay Road
Grand Cayman, Cayman Islands
British West Indies
CSS Corporation Ltd. Affiliate of the Administrator c/o Citco Fund Services
Secretary of the Fund (Cayman Islands) Limited
Corporate Center
West Bay Road
Grand Cayman, Cayman Islands
British West Indies
---------------------- ----------------------
CUSIP No. 860342104 13D Page 44 of 51 Pages
---------------------- ----------------------
DIRECTORS AND OFFICERS OF RAMIUS MASTER FUND, LTD.
Name and Position Principal Occupation Principal Business Address
----------------- -------------------- --------------------------
Morgan B. Stark Managing Member of C4S & Co., 666 Third Avenue
Director L.L.C., which is the Managing 26th Floor
Member of Ramius Capital Group, New York, New York 10017
Marran Ogilvie General Counsel of Ramius 666 Third Avenue
Director Capital Group, L.L.C. 26th Floor
New York, New York 10017
CFS Company Ltd. Nominee Company registered c/o Citco Fund Services
Director with Cayman Islands Monetary (Cayman Islands) Limited
Authority and is affiliated Corporate Center
with Administrator of the Fund West Bay Road
Grand Cayman, Cayman Islands
British West Indies
CSS Corporation Ltd. Affiliate of the Administrator c/o Citco Fund Services
Secretary of the Fund (Cayman Islands) Limited
Corporate Center
West Bay Road
Grand Cayman, Cayman Islands
British West Indies
---------------------- ----------------------
CUSIP No. 860342104 13D Page 45 of 51 Pages
---------------------- ----------------------
DIRECTORS AND OFFICERS OF BARINGTON COMPANIES OFFSHORE FUND, LTD. (BVI)
Name and Position Principal Occupation Principal Business Address
----------------- -------------------- --------------------------
James A. Mitarotonda Chairman of Barington Capital 888 Seventh Avenue
Director and President Group, L.P. 17th Floor
New York, New York 10019
Sebastian E. Cassetta Executive Vice President and 888 Seventh Avenue
Director Chief Operating Officer of 17th Floor
Barington Capital Group, L.P. New York, New York 10019
Jonathan Clipper Managing Director of Bedford 7 Reid Street, Suite 108
Director Management Ltd. Hamilton HM11, Bermuda
Graham Cook Director/Manager, Corporate Bison Court
Director Services of Byson Financial P.O. Box 3460
Services, Ltd. Road Town, Tortola
British Virgin Islands
Forum Fund Services, Ltd. Fund Administration Washington Mall 1, 3rd Floor
Secretary 22 Church Street
Hamilton HM11, Bermuda
Melvyn Brunt Chief Financial Officer of 888 Seventh Avenue
Treasurer Barington Capital Group, L.P. 17th Floor
New York, New York 10019
---------------------- ----------------------
CUSIP No. 860342104 13D Page 46 of 51 Pages
---------------------- ----------------------
OFFICERS OF LNA CAPITAL CORP.
Name and Position Principal Occupation Principal Business Address
----------------- -------------------- --------------------------
James A. Mitarotonda Chairman of Barington Capital 888 Seventh Avenue
President and CEO Group, L.P. 17th Floor
New York, New York 10019
Sebastian E. Cassetta Executive Vice President and 888 Seventh Avenue
Secretary Chief Operating Officer of 17th Floor
Barington Capital Group, L.P. New York, New York 10019
Melvyn Brunt Chief Financial Officer of 888 Seventh Avenue
Treasurer Barington Capital Group, L.P. 17th Floor
New York, New York 10019
---------------------- ----------------------
CUSIP No. 860342104 13D Page 47 of 51 Pages
---------------------- ----------------------
EXHIBIT INDEX
Exhibit Page
------- ----
1. Joint Filing Agreement by and among Starboard,
Parche, RCG Ambrose, RCG Halifax, Ramius
Master, Admiral Advisors, Ramius Advisors,
Ramius Capital, C4S, Mr. Cohen, Mr. Solomon,
Mr. Stark, Mr. Strauss, Barington Companies 48 to 50
Equity, Barington Companies Investors,
Barington Companies Offshore, Barington
Investments, Barington Companies Advisors,
Barington Capital, LNA and Mr. Mitarotonda,
dated April 3, 2006.
2. Power of Attorney for Peter A. Cohen, Morgan
B. Stark, Thomas W. Strauss and Jeffrey M.
Solomon, dated March 11, 2005. 51
---------------------- ----------------------
CUSIP No. 860342104 13D Page 48 of 51 Pages
---------------------- ----------------------
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1)(iii) under the Securities
Exchange Act of 1934, as amended, the persons named below agree to the joint
filing on behalf of each of them of a Statement on Schedule 13D dated April 3,
2006 (including amendments thereto) with respect to the Common Stock of Stewart
& Stevenson Services Inc. This Joint Filing Agreement shall be filed as an
Exhibit to such Statement.
Dated: April 3, 2006
STARBOARD VALUE AND OPPORTUNITY RAMIUS MASTER FUND, LTD
MASTER FUND LTD. By: Ramius Advisors, LLC
its investment manager
PARCHE, LLC By: Ramius Capital Group, L.L.C.
By: Admiral Advisors, LLC, its its managing member
managing member
ADMIRAL ADVISORS, LLC
RCG AMBROSE MASTER FUND, LTD. By: Ramius Capital Group, L.L.C.,
By: Ramius Capital Group, L.L.C., its managing member
its investment manager
By: C4S & Co., L.L.C., RAMIUS ADVISORS, LLC
its managing member By: Ramius Capital Group, L.L.C.,
its managing member
RCG HALIFAX FUND, LTD. RAMIUS CAPITAL GROUP, L.L.C.
By: Ramius Capital Group, L.L.C., By: C4S & Co., L.L.C.,
its investment manager as managing member
By: C4S & Co., L.L.C.,
its managing member
C4S & CO., L.L.C.
By: /s/ Jeffrey M. Solomon
---------------------------
Name: Jeffrey M. Solomon
Title: Authorized Signatory
JEFFREY M. SOLOMON
/s/ Jeffrey M. Solomon
------------------------------
---------------------- ----------------------
CUSIP No. 860342104 13D Page 49 of 51 Pages
---------------------- ----------------------
BARINGTON COMPANIES EQUITY PARTNERS, L.P.
By: Barington Companies Investors, LLC,
its general partner
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: Managing Member
BARINGTON COMPANIES INVESTORS, LLC
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: Managing Member
/s/ James A. Mitarotonda
------------------------------------
James A. Mitarotonda
BARINGTON COMPANIES OFFSHORE FUND, LTD. (BVI)
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: President
BARINGTON INVESTMENTS, L.P.
By: Barington Companies Advisors, LLC,
its general partner
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: Authorized Signatory
BARINGTON COMPANIES ADVISORS, LLC
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: Authorized Signatory
BARINGTON CAPITAL GROUP, L.P.
By: LNA Capital Corp., its general
partner
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: President and Chief Executive Officer
---------------------- ----------------------
CUSIP No. 860342104 13D Page 50 of 51 Pages
---------------------- ----------------------
LNA CAPITAL CORP.
By: /s/ James A. Mitarotonda
--------------------------------
Name: James A. Mitarotonda
Title: President and Chief Executive Officer
---------------------- ----------------------
CUSIP No. 860342104 13D Page 51 of 51 Pages
---------------------- ----------------------
POWER OF ATTORNEY
The undersigned hereby appoints Peter A. Cohen, Morgan B. Stark, Thomas W.
Strauss and Jeffrey M. Solomon, or any of them, his true and lawful attorney-in
fact and agent to execute and file with the Securities and Exchange Commission
any Schedule 13D, Schedule 13G, any amendments thereto and any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's beneficial ownership of, or participation in a group
with respect to, securities directly or indirectly beneficially owned by Ramius
Capital Group, LLC or any of its affiliates, and granting unto said
attorney-in-fact and agent full power and authority to do and perform each and
every act and thing which he might or could do in person, hereby ratifying and
confirming all that said attorney-in-fact and agent may lawfully do or cause to
be done by virtue hereof. The authority of Peter A. Cohen, Morgan B. Stark,
Thomas W. Strauss and Jeffrey M. Solomon, or any of them, under this Power of
Attorney shall continue with respect to the undersigned until the undersigned is
no longer required to file Schedule 13Ds or Schedule 13Gs unless revoked earlier
in writing.
Date: March 11, 2005
/s/ Peter A. Cohen
---------------------------
Peter A. Cohen
/s/ Morgan B. Stark
---------------------------
Morgan B. Stark
/s/ Jeffrey M. Solomon
---------------------------
Jeffrey M. Solomon
/s/ Thomas W. Strauss
---------------------------
Thomas W. Strauss