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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
FORD GERALD J 200 CRESCENT COURT, SUITE 1350 DALLAS, TX 75201 |
X | X |
/s/ Gerald J. Ford | 01/31/2007 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | This statement is filed on behalf of Gerald J. Ford (the "Reporting Person") in respect of shares of common stock, par value $0.01 per share ("Common Stock"), of Affordable Residential Communities, Inc., a Maryland corporation (the "Issuer"). The Reporting Person disclaims beneficial ownership of the securities reported in this filing in excess of the pecuniary interest of the Reporting Person in such securities, if any, and this filing shall not be deemed an admission that the Reporting Person is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of such securities. The general partner of ARC Diamond, LP ("ARC Diamond") is ARC Diamond GP, Inc., and Mr. Ford is the sole shareholder of ARC Diamond GP, Inc. Mr. Ford is a general partner of Hunter's Glen/Ford, Ltd. ("Hunter's Glen/Ford"), and Mr. Ford is the sole shareholder of Ford Diamond Corporation, the other general partner of Hunter's Glen/Ford. |
(2) | On October 13, 2006, Hunter's Glen/Ford entered into a certain Investment Agreement (the "Investment Agreement") with the Issuer. Under the terms of the Investment Agreement, Hunter's Glen/Ford agreed to purchase a number of shares of Common Stock equal to the number of shares of Common Stock that were not subscribed for by stockholders of the Issuer (other than Mr. Ford and ARC Diamond) as soon as reasonably practicable after the expiration of the rights offering of the Issuer (the "Rights Offering"). Pursuant to the Rights Offering, the Issuer distributed pro rata to its stockholders subscription rights ("Rights") to purchase shares of Common Stock at a purchase price of $8.00 per share. Following the expiration of the Rights Offering, Rights to acquire 391,549 shares of Common Stock were unsubscribed for by stockholders of the Issuer (other than Mr. Ford and ARC Diamond). |
(3) | On January 30, 2007, after stockholder approval of the issuance of shares to Hunter's Glen/Ford pursuant to the Investment Agreement and pursuant to its obligations under the Investment Agreement, Hunter's Glen/Ford purchased 391,549 shares of Common Stock at a purchase price of $8.00 per share from the Issuer in a private placement. |