There may be some debate as to whether activist shareholders are good for the long-term health of companies, but there is no debating their results. In 2012, 2013, and 2014, activist investment strategies returned 9.3%, 19.2%, and 8.5% respectively per year. While new activist positions may not be moving the needle quite as much as they once were, the market still values activist involvement in companies. In this article, we reveal one of the latest activist filings, issued by Legion Partners Asset Management LLC, disclosing the latest information regarding the activist’s position in L.B. Foster Company (NASDAQ:FSTR). The filing shows ownership of 986,136 shares and reveals that Legion Partners’ Bradley S. Vizi has landed a seat on the company’s Board. The filing is embedded in its entirety below and on the following pages.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Legion Partners | 400 | 559,919 | 400 | 559,919 | 559,919 | 5.4% |
| Legion Partners | 108,856 | 108,856 | 108,856 | 1.1% | ||
| Legion Partners Special Opportunities | 317,361 | 317,361 | 317,361 | 3.1% | ||
| Legion Partners | 986,136 | 986,136 | 986,136 | 9.6% | ||
| Legion Partners Asset Management | 986,136 | 986,136 | 986,136 | 9.6% | ||
| Legion Partners Holdings | 986,136 | 986,136 | 986,136 | 9.6% | ||
| Bradley S. Vizi | 986,136 | 986,136 | 986,536 | 9.6% | ||
| Christopher S. Kiper | 986,136 | 986,136 | 986,136 | 9.6% | ||
| Raymond White | 986,136 | 986,136 | 986,136 | 9.6% |
Page 1 of 16 SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO Sec. 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
Sec. 240.13d-2(a)
(Amendment No. 1)1
L.B. Foster Company
(Name of Issuer)
Common Stock, Par Value $.01
(Title of Class of Securities)
350060 10 9
(CUSIP Number)
BRADLEY S. VIZI
LEGION PARTNERS ASSET MANAGEMENT, LLC
9401 Wilshire Blvd, Suite 705
Beverly Hills, CA 90212
(424) 253-1775
STEVE WOLOSKY, ESQ.
OLSHAN FROME 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)
February 12, 2016
(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 Sec.Sec. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Sec. 240.13d-7 for other parties to whom copies are to be sent.
_______________
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 (“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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