UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE
13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 11)*
KCG Holdings,
Inc.
(Name of Issuer)
Class A Common Stock, par value $0.01 per share
(Title of Class of Securities)
48244B 100
(CUSIP
Number)
Emma Cuadrado
Wicklow Capital, Inc.
53
W. Jackson Boulevard, Suite 1204
Chicago, Illinois
(312) 360-1377
with
a copy to:
Lindsey A. Smith
Sidley Austin LLP
One
South Dearborn Street
Chicago, Illinois 60603
(312) 853-7000
(Name,
Address and Telephone Number of Person Authorized to Receive Notices and Communications)
November 16, 2015
(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 §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following
box. ¨
* |
The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page. |
The information required on the remainder of this cover page
shall not be deemed to be filed for the purpose of section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).
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1. |
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Name of
reporting person: Daniel V. Tierney 2011 Trust |
2. |
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Check the appropriate box if a member
of a group (see instructions)
(a) ¨ (b) ¨ |
3. |
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SEC use only
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4. |
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Source of funds (see instructions)
OO (See Item 3) |
5. |
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Check if disclosure of legal
proceedings is required pursuant to Items 2(d) or 2(e) ¨ |
6. |
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Citizenship or place of
organization Illinois |
Number of
shares beneficially
owned by each
reporting person
with |
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7. |
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Sole voting power
0 |
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8. |
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Shared voting power
5,592,070 (1)(2) |
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9. |
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Sole dispositive power
0 |
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10. |
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Shared dispositive power
5,592,070 (1)(2) |
11. |
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Aggregate amount beneficially owned by each reporting person
5,592,070 (1)(2) |
12. |
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Check if the aggregate amount in Row
(11) excludes certain shares (see instructions) ¨ |
13. |
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Percent of class represented by amount
in Row (11) 6.0% (3) |
14. |
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Type of reporting person (see
instructions) OO |
(1) |
Represents (i) 2,871,371 shares of Class A common stock, par value $0.01 per share (Class A Common Shares) of KCG Holdings, Inc., a Delaware corporation (KCG Holdings), and (ii) 2,720,699 Class A
Common Shares that are issuable upon the exercise of warrants (Warrant Shares). |
(2) |
All of the Class A Common Shares and Warrant Shares reported in the table above are directly held by the Daniel V. Tierney 2011 Trust. Emma Cuadrado is the trustee of the trust and has sole voting and dispositive power
over the securities held by the trust. Daniel V. Tierney is the settlor and sole beneficiary of the trust. Daniel V. Tierney does not have or share voting or dispositive power over the securities held by the trust, but does have the power to revoke
the trust and acquire beneficial ownership of such securities within 60 days. |
(3) |
Calculated based on a total of 93,087,490 Class A Common Shares outstanding, which consists of (i) an estimated 90,366,791 Class A Common Shares outstanding as of November 4, 2015, according to information filed by
KCG Holdings on November 6, 2015, plus (ii) 2,720,699 Warrant Shares. |
2
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1. |
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Name of
reporting person: Daniel V. Tierney |
2. |
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Check the appropriate box if a member
of a group (see instructions)
(a) ¨ (b) ¨ |
3. |
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SEC use only
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4. |
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Source of funds (see instructions)
OO (See Item 3) |
5. |
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Check if disclosure of legal
proceedings is required pursuant to Items 2(d) or 2(e) ¨ |
6. |
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Citizenship or place of
organization United States |
Number of
shares beneficially
owned by each
reporting person
with |
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7. |
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Sole voting power
12,079 (1) |
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8. |
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Shared voting power
5,592,070 (2)(3) |
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9. |
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Sole dispositive power
12,079 (1) |
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10. |
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Shared dispositive power
5,592,070 (2)(3) |
11. |
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Aggregate amount beneficially owned by each reporting person
5,604,149 (1)(2)(3) |
12. |
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Check if the aggregate amount in Row
(11) excludes certain shares (see instructions) ¨ |
13. |
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Percent of class represented by amount
in Row (11) 6.0% (4) |
14. |
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Type of reporting person (see
instructions) IN |
(1) |
Represents 12,079 Class A Common Shares held by Daniel V. Tierney. |
(2) |
Represents (i) 2,871,371 Class A Common Shares held by the Daniel V. Tierney 2011 Trust and (ii) 2,720,699 Warrant Shares held by the Daniel V. Tierney 2011 Trust. |
(3) |
2,871,371 Class A Common Shares and 2,720,699 Warrant Shares reported in the table above are directly held by the Daniel V. Tierney 2011 Trust. Emma Cuadrado is the trustee of the trust and has sole voting and
dispositive power over the securities held by the trust. Daniel V. Tierney is the settlor and sole beneficiary of the trust. Daniel V. Tierney does not have or share voting or dispositive power over the securities held by the trust, but does have
the power to revoke the trust and acquire beneficial ownership of such securities within 60 days. Neither the filing of this Schedule 13D nor any of its contents shall be deemed to constitute an admission by the Reporting Person that he is the
beneficial owner of any of the securities referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, or for any other purpose, and such beneficial ownership is expressly disclaimed. |
(4) |
Calculated based on a total of 93,087,490 Class A Common Shares outstanding, which consists of (i) an estimated 90,366,791 Class A Common Shares outstanding as of November 4, 2015, according to information filed by
KCG Holdings on November 6, 2015, plus (ii) 2,720,699 Warrant Shares. |
3
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1. |
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Name of
reporting person: Emma Cuadrado |
2. |
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Check the appropriate box if a member
of a group (see instructions)
(a) ¨ (b) ¨ |
3. |
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SEC use only
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4. |
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Source of funds (see instructions)
OO (See Item 3) |
5. |
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Check if disclosure of legal
proceedings is required pursuant to Items 2(d) or 2(e) ¨ |
6. |
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Citizenship or place of
organization United States |
Number of
shares beneficially
owned by each
reporting person
with |
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7. |
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Sole voting power
0 |
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8. |
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Shared voting power
5,592,070 (1)(2) |
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9. |
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Sole dispositive power
0 |
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10. |
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Shared dispositive power
5,592,070 (1)(2) |
11. |
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Aggregate amount beneficially owned by each reporting person
5,592,070 (1)(2) |
12. |
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Check if the aggregate amount in Row
(11) excludes certain shares (see instructions) ¨ |
13. |
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Percent of class represented by amount
in Row (11) 6.0% (3) |
14. |
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Type of reporting person (see
instructions) IN |
(1) |
Represents (i) 2,871,371 Class A Common Shares and (ii) 2,720,699 Warrant Shares. |
(2) |
All of the Class A Common Shares and Warrant Shares reported in the table above are directly held by the Daniel V. Tierney 2011 Trust. Emma Cuadrado is the trustee of the trust and has sole voting and dispositive power
over the securities held by the trust. Daniel V. Tierney is the settlor and sole beneficiary of the trust. Daniel V. Tierney does not have or share voting or dispositive power over the securities held by the trust, but does have the power to revoke
the trust and acquire beneficial ownership of such securities within 60 days. Neither the filing of this Schedule 13D nor any of its contents shall be deemed to constitute an admission by the Reporting Person that she is the beneficial owner of any
of the securities referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, or for any other purpose, and such beneficial ownership is expressly disclaimed. |
(3) |
Calculated based on a total of 93,087,490 Class A Common Shares outstanding, which consists of (i) an estimated 90,366,791 Class A Common Shares outstanding as of November 4, 2015, according to information filed by
KCG Holdings on November 6, 2015, plus (ii) 2,720,699 Warrant Shares. |
4
Introduction
This Amendment No. 11 (this Amendment No. 11) amends Amendment No. 10 dated November 11, 2015 (Amendment
No. 10), Amendment No. 9 dated June 8, 2015 (Amendment No. 9), Amendment No. 8 dated May 29, 2015 (Amendment No. 8), Amendment No. 7 dated May 27, 2015 (Amendment
No. 7), Amendment No. 6 dated May 1, 2015 (Amendment No. 6), Amendment No. 5 dated February 2, 2015 (Amendment No. 5), Amendment No. 4 dated March 3, 2014 (Amendment
No. 4), Amendment No. 3 dated February 3, 2014 (Amendment No. 3), Amendment No. 2 dated January 13, 2014 (Amendment No. 2) and Amendment No. 1 dated October 31, 2013
(Amendment No. 1) to the statement on Schedule 13D dated July 1, 2013 (the Original Statement and, together with Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4, Amendment
No. 5, Amendment No. 6, Amendment No. 7, Amendment No. 8, Amendment No. 9, Amendment No. 10 and this Amendment No. 11, this Schedule 13D) relating to the Class A common stock, par value $0.01 per
share (the Class A Common Shares), of KCG Holdings, Inc., a Delaware corporation (KCG Holdings). Except as specifically provided herein, this Amendment No. 11 does not modify any of the information previously reported in
the Original Statement. Any capitalized terms used in this Amendment No. 11 and not otherwise defined herein shall have the respective meanings ascribed to such terms in the Original Statement.
This Amendment No. 11 reflects transactions and developments through the date hereof relating to the Reporting Persons holdings of
Class A Common Shares. In particular, this Amendment No. 11 is being filed to reflect (i) sales made pursuant to the previously-disclosed Sales Plan dated June 10, 2015 (the Sales Plan) between the Daniel V. Tierney
2011 Trust and J.P. Morgan Securities LLC, (ii) the termination of the Sales Plan and (iii) the sale of 1,116,000 Class A Common Shares by the Daniel V. Tierney 2011 Trust.
Item 1. |
Security and Issuer. |
There has been no change to the information disclosed in
Item 1 of the Original Statement.
Item 2. |
Identity and Background. |
There has been no change to the information disclosed in
Item 2 of Amendment No. 5.
Item 3. |
Source and Amount of Funds or Other Consideration. |
There has been no change to the
information disclosed in Item 3 of the Original Statement.
Item 4. |
Purpose of Transaction. |
As described in Item 4 of Amendment No. 9, the Daniel
V. Tierney 2011 Trust entered into the Sales Plan on June 10, 2015 with respect to 4,390,000 Class A Common Shares.
On
November 16, 2015, the Daniel V. Tierney 2011 Trust terminated the Sales Plan. Also on November 16, 2015, the Daniel V. Tierney 2011 Trust sold 1,116,000 Class A Common Shares at a price of $12.43 per share.
None of the Reporting Persons has any present plans or proposals which relate to or would result in any of the matters set forth in
subparagraphs (a)-(j) of Item 4 of Schedule 13D.
Item 5. |
Interest in Securities of the Issuer. |
Item 5 of the Original Statement is hereby
amended and restated in its entirety as follows:
(a) - (b) With respect to the Daniel V. Tierney 2011 Trust, Daniel V. Tierney and
Emma Cuadrado, this Schedule 13D relates to the beneficial ownership of 5,592,070 Class A Common Shares, which consists of (i) 2,871,371 Class A Common Shares and (ii) 2,720,699 Warrant Shares. Such shares represent 6.0% of the
outstanding Class A Common Shares (based on a total of 93,087,490 Class A Common Shares outstanding, which consists of (i) an estimated 90,366,791 Class A Common Shares outstanding as of November 4, 2015, according to
information filed by KCG Holdings on November 6, 2015, plus (ii) 2,720,699 Warrant Shares). All of these Class A
5
Common Shares and Warrant Shares are directly held by the trust. Emma Cuadrado is the trustee of the trust and has sole voting and dispositive power over the securities held by the trust. Daniel
V. Tierney is the settlor and sole beneficiary of the trust. Daniel V. Tierney does not have or share voting or dispositive power over the securities held by the trust, but does have the power to revoke the trust and acquire beneficial ownership of
such securities within 60 days. Neither the filing of this Schedule 13D nor any of its contents shall be deemed to constitute an admission by Daniel V. Tierney or Emma Cuadrado that such Reporting Person is the beneficial owner of any such
securities for purposes of Section 13(d) of the Exchange Act or for any other purpose, and such beneficial ownership is expressly disclaimed.
Solely with respect to Daniel V. Tierney, this Schedule 13D also relates to the beneficial ownership of an additional 12,079 Class A
Common Shares. Together with the 5,592,070 shares described in the preceding paragraph, these shares represent 6.0% of the outstanding Class A Common Shares (based on a total of 93,087,490 Class A Common Shares outstanding, which consists
of (i) an estimated 90,366,791 Class A Common Shares outstanding as of November 4, 2015, according to information filed by KCG Holdings on November 6, 2015, plus (ii) 2,720,699 Warrant Shares).
(c) As described in Item 4 of Amendment No. 9, the Daniel V. Tierney 2011 Trust entered into the Sales Plan on June 10, 2015
with respect to 4,390,000 Class A Common Shares. From November 12, 2015, the first trading day following the date of Amendment No. 10, through November 16, 2015, an aggregate of 600 Class A Common Shares were sold pursuant
to the Sales Plan, as set forth on Annex A. Following these sales, 3,985,918 Class A Common Shares remained available for sale under the Sales Plan.
As disclosed in Item 4 of this Amendment No. 11, on November 16, 2015, the Daniel V. Tierney 2011 Trust terminated the Sales
Plan. Also on November 16, 2015, the Daniel V. Tierney 2011 Trust sold 1,116,000 Class A Common Shares at a price of $12.43 per share.
No Reporting Person has effected any other transaction in the Class A Common Shares or Warrant Shares since the date of Amendment
No. 10.
(d) To the knowledge of the Reporting Persons, no other person has the right to receive or the power to direct the receipt
of dividends from, or the proceeds from the sale of, the Class A Common Shares or Warrant Shares covered by this Schedule 13D.
(e)
Not applicable.
Item 6. |
Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. |
No Reporting Person has any contracts, arrangements, understandings or relationships with respect to any securities of KCG Holdings.
Item 7. |
Material to Be Filed as Exhibits. |
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Exhibit Number |
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Description of Exhibits |
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99.1 |
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Form of Sales Plan dated June 10, 2015 between the Daniel V. Tierney 2011 Trust and J.P. Morgan Securities LLC, incorporated by reference to Exhibit 99.2 to Amendment No. 9 |
6
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true,
complete and correct.
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Date: November 17, 2015 |
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DANIEL V. TIERNEY 2011 TRUST |
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By |
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/s/ Emma Cuadrado |
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Name: |
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Emma Cuadrado |
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Title: |
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Trustee |
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Date: November 17, 2015 |
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/s/ Daniel V. Tierney |
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DANIEL V. TIERNEY |
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Date: November 17, 2015 |
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/s/ Emma Cuadrado |
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EMMA CUADRADO |
7
INDEX OF EXHIBITS
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Exhibit Number |
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Description of Exhibits |
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99.1 |
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Form of Sales Plan dated June 10, 2015 between the Daniel V. Tierney 2011 Trust and J.P. Morgan Securities LLC, incorporated by reference to Exhibit 99.2 to Amendment No. 9 |
8
ANNEX A
Recent Transactions by the Daniel V. Tierney 2011 Trust in the Class A Common Shares
Set forth below is a summary of open market sales of Class A Common Shares effected pursuant to the Sales Plan by the Daniel V. Tierney 2011 Trust
between November 12, 2015, the first trading day following the date of Amendment No. 10, and the date hereof.
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Date of Transaction |
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Number of Class A Common Shares Sold |
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Weighted Average Price Per Share |
11/12/15 |
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400 |
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$12.80 |
11/16/15 |
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200 |
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$12.75 |
9
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