4//SEC Filing
MASTERS SETH J 4
Accession 0001293386-08-000082
CIK 0000825313other
Filed
Dec 22, 7:00 PM ET
Accepted
Dec 23, 6:29 PM ET
Size
12.2 KB
Accession
0001293386-08-000082
Insider Transaction Report
Form 4
MASTERS SETH J
CIO, Blend Strat. and ABDC
Transactions
- Other
Units
2008-12-19−8,160,000→ 0 total(indirect: by SCB Partners Inc.)→ Holding Units (8,160,000 underlying)
Holdings
- 16,711(indirect: By Trust)
Holding Units
- 56,141
units rep. assignments of beneficial owner. of lp interests
Footnotes (7)
- [F1]Units representing assignments of beneficial ownership of limited partnership interests in AllianceBernstein Holding L.P. ("Holding Units")
- [F2]On December 1, 2008, 8,943 Holding Units previously owned by Reporting Person through a rabbi trust under an employee deferred compensation plan were distributed to him.
- [F3]Units of limited partnership interest in AllianceBernstein L.P. ("Units")
- [F4]AXA Financial, Inc. ("AXF") entered into a purchase agreement with SCB Inc. (f/k/a Sanford C. Bernstein Inc., "SCB") and AllianceBernstein L.P. ("AllianceBernstein"), dated as of June 20, 2000 (the "Purchase Agreement"), pursuant to which AXF granted SCB the right, beginning on the second anniversary of the closing of AllianceBernstein's acquisition of substantially all of the assets and liabilities of SCB (the "Acquisition"), to cause AXF (or its designee) to purchase Units received by SCB as part of consideration for the Acquisition (in the aggregate, such Units are referred to herein as the "Equity Consideration"). This right is exercisable no more than once annually during each of the eight years following the second anniversary of the closing of the Acquisition (October 2, 2000), in an amount not to exceed 20% of the Units paid to SCB as part of the Equity Consideration per year and subject to deferral under certain circumstances.
- [F5]On December 19, 2008, SCB and SCB Partners Inc. ("Partners"), a wholly-owned subsidiary of SCB, delivered a notice to AXF stating that they were exercising their right to sell 8,160,000 Units to AXF (or its designee) under the Purchase Agreement. As provided in the Purchase Agreement, the purchase price for each such Unit will be the average of the closing prices of a unit representing assignments of beneficial ownership of limited partnership interests in AllianceBernstein Holding L.P. (NYSE: AB) as quoted on the New York Stock Exchange composite tape for the ten trading days ending on December 29, 2008, the fifth trading day following the December 19, 2008 exercise date. While the purchase price will not be determined until December 29, 2008, and the settlement date will be subsequent to that date, the Reporting Person is filing this form to report AXF's receipt, on December 19, 2008, of SCB's notice of exercise of its right to sell. Upon the purchase by AXF (or its designee) of all of the Units in respect of which SCB and Partners delivered the exercise notice, each of SCB, Partners and Reporting Person will not own any Units.
- [F6]Prior to SCB and Partners exercising the remaining portion of their put option, their Units were exchangable for Holding Units upon the satisfaction of a number of conditions, including: (i) the issuance of Holding Units must have been exempt from registration pursuant to the Securities Act of 1933, as amended, and AllianceBernstein Holding L.P. ("Holding") must have received any necessary representations, opinions or other documentation in connection with such issuance; (ii) the issuance of the Holding Units must have been permissible under the terms of the Amended and Restated Agreement of Limited Partnership of Holding, dated as October 29, 1999 (and as amended February 24, 2006); (iii) AXA Equitable Life Insurance Company ("AXA Equitable") must have consented to the transfer (which AXF, AXA Equitable's indirect parent, had agreed to cause AXA Equitable to do); and (iv) SCB must have provided an outside legal opinion, reasonably satisfactory to AllianceBernstein, stating that the exchange of Units for Holding Units constitutes a "block transfer" under applicable U.S. Treasury Regulations. As a result of the transaction described in the footnote above, SCB, Partners and Reporting Person will no longer own any Units, making any exchange of their Units for Holding Units impossible.
- [F7]Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
Documents
Issuer
ALLIANCEBERNSTEIN HOLDING L.P.
CIK 0000825313
Entity typeother
Related Parties
1- filerCIK 0001279325
Filing Metadata
- Form type
- 4
- Filed
- Dec 22, 7:00 PM ET
- Accepted
- Dec 23, 6:29 PM ET
- Size
- 12.2 KB