SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 12)*
LAMAR ADVERTISING COMPANY
(Name of Issuer)
CLASS A COMMON STOCK, PAR VALUE $0.001 PER SHARE
(Title of Class of Securities)
512815101
(CUSIP Number)
SPO Advisory Corp.
591 Redwood Highway, Suite 3215
Mill Valley, California 94941
(415) 383-6600
with a copy to:
Alison S. Ressler
Sullivan & Cromwell LLP
1888 Century Park East
Los Angeles, California 90067-1725
(310) 712-6600
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
August 8, 2012
(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.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 18 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON SPO Partners II, L.P.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS WC
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
14,953,784 (1)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
14,953,784 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,953,784
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.1%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
(1) Power is exercised through its sole general partner, SPO Advisory Partners,
L.P.
CUSIP No. 512815101 Page 2 of 18 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON SPO Advisory Partners, L.P.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS Not Applicable
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
14,953,784 (1)(2)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
14,953,784 (1)(2)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,953,784
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.1%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
(1) Solely in its capacity as the sole general partner of SPO Partners II, L.P.
(2) Power is exercised through its sole general partner, SPO Advisory Corp.
CUSIP No. 512815101 Page 3 of 18 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
San Francisco Partners, L.P.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
California
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
614,530 (1)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
614,530 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
614,530
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
(1) Power is exercised through its sole general partner, SF Advisory Partners,
L.P.
CUSIP No. 512815101 Page 4 of 18 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
SF Advisory Partners, L.P.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
Not Applicable
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
614,530 (1)(2)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
614,530 (1)(2)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
614,530
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
(1) Solely in its capacity as the sole general partner of San Francisco
Partners, L.P.
(2) Power is exercised through its sole general partner, SPO Advisory Corp.
CUSIP No. 512815101 Page 5 of 18 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
SPO Advisory Corp.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
Not Applicable
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
15,568,314 (1)(2)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
15,568,314 (1)(2)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,568,314
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.8%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
(1) Solely in its capacity as the sole general partner of SPO Advisory
Partners, L.P. with respect to 14,953,784 of such shares; and solely
in its capacity as the sole general partner of SF Advisory Partners, L.P.
with respect to 614,530 of such shares.
(2) Power is exercised through its two controlling persons, John H. Scully and
Edward H. McDermott.
CUSIP No. 512815101 Page 6 of 18 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
John H. Scully
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
PF and Not Applicable
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
148,900 (1)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED 15,568,314 (2)
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
148,900 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
15,568,314 (2)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,717,214
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.0%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
(1) Of these shares, 15,600 shares are held in the John H. Scully Individual
Retirement Accounts, which are self-directed, and 133,300 shares may be
deemed to be beneficially owned by Mr. Scully solely in his capacity as
controlling person, sole director and executive officer of Phoebe Snow
Foundation, Inc.
(2) These shares may be deemed to be beneficially owned by Mr. Scully solely
in his capacity as one of two controlling persons of SPO Advisory Corp.
CUSIP No. 512815101 Page 7 of 18 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
Phoebe Snow Foundation, Inc.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
California
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
133,300 (1)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
133,300 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
133,300
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
(1) Power is exercised through its controlling person, sole director and
executive officer, John H. Scully.
CUSIP No. 512815101 Page 8 of 18 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
Eli J. Weinberg
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
PF
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(f) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
126
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
126
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
126
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
**0.1%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
** Denotes less than.
CUSIP No. 512815101 Page 9 of 18 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
Ian R. McGuire
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
PF
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
1,156 (1)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
1,156 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,156
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
**0.1%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
** Denotes less than.
(1) Of these shares, 256 shares are held in the Ian R. McGuire Individual
Retirement Account, which is self-directed.
CUSIP No. 512815101 Page 10 of 18 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
Edward H. McDermott
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
PF and Not Applicable
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
3,834 (1)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED 15,568,314 (2)
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
3,834 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
15,568,314 (2)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,572,148
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.9%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
(1) Of these, 600 shares are held in the Edward H. McDermott Individual
Retirement Account, which is self-directed.
(2) These shares may be deemed to be beneficially owned by Mr. McDermott solely
in his capacity as one of two controlling persons of SPO Advisory Corp.
Page 11 of 18 pages
This Amendment No. 12 amends the Schedule 13D (the "Original 13D")
filed with the Securities and Exchange Commission ("SEC") on August 22, 2005 and
as amended on May 10, 2006, July 19, 2006, July 31, 2007, October 2, 2007, March
21, 2008, April 15, 2008, June 26, 2008, July 1, 2008, July 7, 2008, July 15,
2008 and September 19, 2008. Unless otherwise stated herein, the Original 13D,
as previously amended, remains in full force and effect. Terms used therein and
not defined herein shall have the meanings ascribed thereto in the Original 13D.
ITEM 2. IDENTITY AND BACKGROUND.
Item 2(a) is hereby amended and restated in its entirety as follows:
(a) The undersigned hereby file this Schedule 13D Statement on behalf
of SPO Partners II, L.P., a Delaware limited partnership ("SPO"), SPO Advisory
Partners, L.P., a Delaware limited partnership ("SPO Advisory Partners"), San
Francisco Partners, L.P., a California limited partnership ("SFP"), SF
Advisory Partners, L.P., a Delaware limited partnership ("SF Advisory
Partners"), SPO Advisory Corp., a Delaware corporation ("SPO Advisory Corp."),
John H. Scully ("JHS"), Phoebe Snow Foundation, Inc., a California corporation
("PS Foundation"), Eli J. Weinberg ("EJW"), Ian R. McGuire ("IRM") and Edward
H. McDermott ("EHM"). SPO, SPO Advisory Partners, SFP, SF Advisory Partners,
SPO Advisory Corp., JHS, PS Foundation, EJW, IRM and EHM are sometimes
hereinafter referred to as the "Reporting Persons." The Reporting Persons are
making this single, joint filing because they may be deemed to constitute a
"group" within the meaning of Section 13(d)(3) of the Securities Exchange Act
of 1934, as amended (the "Act"), although neither the fact of this filing nor
anything contained herein shall be deemed to be an admission by the Reporting
Persons that a group exists.
The Original 13D, as amended, listed William E. Oberndorf ("WEO"),
William J. Patterson ("WJP") and the Elizabeth R. and William J. Patterson
Foundation, a California corporation (the "Patterson Foundation") as "Reporting
Persons." As of March 31, 2012, WEO was no longer a controlling person of SPO
Advisory Corp. As a result, WEO is no longer a "Reporting Person" for all
purposes under this Amendment and the Original 13D. WJP passed away on
September 24, 2010. As a result, WJP and the Patterson Foundation are no longer
"Reporting Persons" for all purposes under this Amendment and the Original 13D.
All references to WEO, WJP and the Patterson Foundation in item
2(b)-(c) are hereby deleted in their entirety. All references to the four
controlling persons of SPO Advisory Corp are hereby revised to two controlling
persons of SPO Advisory Corp.
Page 12 of 18 pages
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 is hereby amended and restated in its entirety as follows:
The source and amount of the funds used or to be used by the Reporting
Persons to purchase Shares are as follows:
NAME SOURCE OF FUNDS AMOUNT OF FUNDS
--------------------- --------------------------- ---------------
SPO Contributions from Partners $634,608,377
SPO Advisory Partners Not Applicable Not Applicable
SFP Contributions from Partners $26,672,358
SF Advisory Partners Not Applicable Not Applicable
SPO Advisory Corp. Not Applicable Not Applicable
JHS Not Applicable and Personal Funds $674,251
PS Foundation Contributions from Shareholders $13,096,109
EJW Personal Funds $5,672
IRM Personal Funds $55,943
EHM Not Applicable and Personal Funds $19,562
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended and restated in its entirety as follows:
(a) Percentage interest calculations for each Reporting Person are
based upon the Issuer having 78,447,313 total outstanding shares of Class A
common stock as reported on the Issuer's 10-Q filed with the Securities and
Exchange Commission on August 8, 2012.
SPO
The aggregate number of Shares that SPO owns beneficially, pursuant to
Rule 13d-3 of the Act, is 14,953,784 Shares, which constitutes approximately
19.1% of the outstanding Shares.
SPO Advisory Partners
Because of its position as the sole general partner of SPO, SPO
Advisory Partners may, pursuant to Rule 13d-3 of the Act, be deemed to be the
beneficial owner of 14,953,784 Shares, which constitutes approximately 19.1% of
the outstanding Shares.
SFP
The aggregate number of Shares that SFP owns beneficially, pursuant to
Rule 13d-3 of the Act, is 614,530 Shares, which constitutes approximately 0.8%
of the outstanding Shares.
Page 13 of 18 pages
SF Advisory Partners
Because of its position as the sole general partner of SFP, SF Advisory
Partners may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial
owner of 614,530 Shares, which constitutes approximately 0.8% of the outstanding
Shares.
SPO Advisory Corp.
Because of its positions as the sole general partner of each of SPO
Advisory Partners and SF Advisory Partners, SPO Advisory Corp. may, pursuant to
Rule 13d-3 of the Act, be deemed to be the beneficial owner of 15,568,314 Shares
in the aggregate, which constitutes approximately 19.8% of the outstanding
Shares.
JHS
Individually, and because of his positions as a control person of SPO
Advisory Corp. and controlling person, sole director and executive officer of PS
Foundation, JHS may, pursuant to Rule 13d-3 of the Act, be deemed to be the
beneficial owner of 15,717,214 Shares, which constitutes approximately 20.0% of
the outstanding Shares.
PS FOUNDATION
The aggregate number of Shares that PS Foundation owns beneficially,
pursuant to Rule 13d-3 of the Act, is 133,300 Shares, which constitutes
approximately 0.2% of the outstanding Shares.
Page 14 of 18 pages
EJW
The aggregate number of Shares that EJW owns beneficially, pursuant to
Rule 13d-3 of the Act, is 126 Shares, which constitutes less than 0.1% of the
outstanding Shares.
IRM
The aggregate number of Shares that IRM owns beneficially, pursuant to
Rule 13d-3 of the Act, is 1,156 Shares, which constitutes less than 0.1% of the
outstanding Shares.
EHM
Individually and because of his position as a control person of SPO
Advisory Corp., EHM may, pursuant to Rule 13d-3 of the Act, be deemed to be the
beneficial owner of 15,572,148 Shares, which constitutes approximately 19.9% of
the outstanding Shares.
To the best of the knowledge of each of the Reporting Persons, other
than as set forth above, none of the persons named in Item 2 hereof is the
beneficial owner of any Shares.
(b)
SPO
Acting through its sole general partner, SPO has the sole power to vote
or to direct the vote and to dispose or to direct the disposition of 14,953,784
Shares.
SPO Advisory Partners
Acting through its sole general partner and in its capacity as the sole
general partner of SPO, SPO Advisory Partners has the sole power to vote or to
direct the vote and to dispose or to direct the disposition of 14,953,784
Shares.
SFP
Acting through its sole general partner, SFP has the sole power to vote
or to direct the vote and to dispose or to direct the disposition of 614,530
Shares.
SF Advisory Partners
Acting through its sole general partner and in its capacity as the sole
general partner of SFP, SF Advisory Partners has the sole power to vote or to
direct the vote and to dispose or to direct the disposition of 614,530 Shares.
SPO Advisory Corp.
Acting through its controlling persons and in its capacities as the
sole general partner of each of SPO Advisory Partners and SF Advisory Partners,
SPO Advisory Corp. has the sole power to vote or to direct the vote and to
dispose or to direct the disposition of 15,568,314 Shares in the aggregate.
Page 15 of 18 pages
JHS
As one of two controlling persons of SPO Advisory Corp., which is the
sole general partner of each of SPO Advisory Partners and SF Advisory Partners,
JHS may be deemed to have shared power with EHM to vote or to direct the vote
and to dispose or to direct the disposition of 15,568,314 Shares held by SPO
and SFP in the aggregate. In addition, JHS has the sole power to vote or to
direct the vote and to dispose or to direct the disposition of 15,600 Shares
held in the John H. Scully Individual Retirement Accounts, which are
self-directed individual retirement accounts, and 133,300 Shares held by the PS
Foundation, for which JHS is the controlling person, sole director and
executive officer.
PS FOUNDATION
Acting through its controlling person, PS Foundation has the sole power
to vote or to direct the vote and to dispose or to direct the disposition of
133,300 Shares.
EJW
EJW has the sole power to vote or to direct the vote and to dispose or
to direct the disposition of 126 Shares.
IRM
IRM has the sole power to vote or to direct the vote and to dispose or
to direct the disposition of 256 Shares held in the Ian R. McGuire Individual
Retirement Account, which is a self-directed individual retirement account. In
addition, IRM has the sole power to vote or to direct the vote and to dispose
or to direct the disposition of 900 Shares.
EHM
As one of two controlling persons of SPO Advisory Corp., which is the
sole general partner of each of SPO Advisory Partners and SF Advisory Partners,
EHM may be deemed to have shared power with JHS to vote or to direct the vote
and to dispose or to direct the disposition of 15,568,314 Shares held by SPO
and SFP in the aggregate. In addition, EHM has the sole power to vote or to
direct the vote and to dispose or to direct the disposition of 600 Shares held
in the Edward H. McDermott Individual Retirement Account, which is a
self-directed individual retirement account. EHM also has the sole power to vote
or to direct the vote and to dispose or to direct the disposition of 3,234
Shares.
(c) On August 8, 2012, the Reporting Persons sold an aggregate of
2,100,000 Shares at a price of $34.03 per Share. On August 9, 2012, the
Reporting Persons sold an aggregate of 1,000,000 Shares at a price of $33.15
per Share.
Except as set forth in this paragraph (c), to the best of the
knowledge of each of the Reporting Persons, none of the persons named in
response to paragraph (a) has effected any transactions in Shares during the
past 60 days.
Page 16 of 18 pages
(d) Each of the Reporting Persons affirms that no person other than
such Reporting Person has the right to receive or the power to direct the
receipt of distributions with respect to, or the proceeds from the sale of,
Shares owned by such Reporting Person.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.
Item 6 is hereby amended and restated in its entirety as follows:
Effective as of May 25, 2011, EHM is no longer a member of the Board
of Directors of the Issuer.
Otherwise, except as set forth herein, there are no contracts,
arrangements, understandings or relationships of the type required to be
disclosed in response to Item 6 of Schedule 13D of the Act with respect to the
Shares owned by the Reporting Persons.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Item 7 is hereby amended and restated in its entirety as follows:
Exhibit A: Agreement pursuant to Rule 13d-1 (k)
Page 17 of 18 pages
SIGNATURE
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.
Dated August 10, 2012 By: /s/ Kim M. Silva
--------------------------------
Kim M. Silva
Attorney-in-Fact for:
SPO PARTNERS II, L.P.(1)
SPO ADVISORY PARTNERS, L.P.(1)
SAN FRANCISCO PARTNERS, L.P.(1)
SF ADVISORY PARTNERS, L.P.(1)
SPO ADVISORY CORP.(1)
JOHN H. SCULLY(1)
PHOEBE SNOW FOUNDATION, INC.(1)
ELI J. WEINBERG(1)
IAN R. MCGUIRE(1)
EDWARD H. MCDERMOTT(1)
(1) A Power of Attorney
authorizing Kim M. Silva to
act on behalf of this
person or entity has been
previously filed with the
Securities and Exchange
Commission.
Page 18 of 18 pages
EXHIBIT INDEX
EXHIBIT DOCUMENT DESCRIPTION
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A Agreement Pursuant to Rule 13d-1 (k)