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Filing Details

Accession Number:: 0001181431-13-029344
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2013-05-21 14:17:35
Reporting Period:: 2013-05-20

Filing Date:: 2013-05-21
Accepted Time:: 2013-05-21 14:17:35
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
878560	Standard Pacific Corp	SPF	Operative Builders (1531)	330475989

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1178798	Matlinpatterson Llc	C/O Matlinpatterson Global Advisers Llc 520 Madison Avenue New York NY 10022	No	No	Yes	No
1251956	J David Matlin	C/O Matlinpatterson Global Advisers Llc 520 Madison Avenue New York NY 10022	Yes	No	Yes	No
1251957	R Mark Patterson	C/O Matlinpatterson Global Advisers Llc 520 Madison Avenue New York NY 10022	No	No	Yes	No
1251960	Matlinpatterson Pe Holdings Llc	C/O Matlinpatterson Global Advisers Llc 520 Madison Avenue New York NY 10022	No	No	Yes	No
1251962	Matlinpatterson Global Advisers Llc	520 Madison Avenue New York NY 10022	No	No	Yes	No
1403831	Matlinpatterson Global Opportunities Partners (Cayman) Iii Lp	C/O Matlinpatterson Global Advisers Llc 520 Madison Avenue New York NY 10022	No	No	Yes	No
1403833	Matlinpatterson Global Opportunities Partners Iii Lp	C/O Matlinpatterson Global Advisers Llc 520 Madison Avenue New York NY 10022	No	No	Yes	No
1431799	Matlinpatterson Global Partners Iii Llc	C/O Matlinpatterson Global Advisers Llc 520 Madison Avenue New York NY 10022	No	No	Yes	No
1439030	Mp Ca Homes Llc	C/O Matlinpatterson Global Advisers Llc 520 Madison Avenue New York NY 10022	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2013-05-20	23,000,000	$9.50	66,400,000	No	4	S	Direct
Common Stock	Acquisiton	2013-05-20	60,000,000	$3.05	126,400,000	No	4	C	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct
No	4	C	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series B Junior Participating Convertible Preferred Stock	Disposition	2013-05-20	183,000	$0.00	60,000,000	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
267,829	2008-08-18		No	4	C	Direct

Footnotes

MP CA Homes LLC was the direct owner of 89,400,000 shares of Common Stock and 450,829 shares of Series B Junior Participating Convertible Preferred Stock ("Junior Convertible Preferred Stock"). On May 20, 2013, MP CA Homes LLC sold 23,000,000 shares of Common Stock and also converted 183,000 shares of Junior Convertible Preferred Stock into 60,000,000 shares of Common Stock. MatlinPatterson Global Opportunities Partners III L.P. and MatlinPatterson Global Opportunities Partners (Cayman) III L.P. (together, "the Funds"), hold 100 percent of the membership interests in MP CA Homes LLC. MatlinPatterson Global Partners III LLC (the "General Partner") is the general partner of the Funds. MatlinPatterson Global Advisers LLC (the "Adviser") is the investment adviser to the Funds. MatlinPatterson PE Holdings LLC holds 100 percent of the voting interest and equity of the Adviser and the General Partner. (Continued in footnote 2)
MatlinPatterson LLC holds 100 percent of the equity of MatlinPatterson PE Holdings LLC. Other than MP CA Homes LLC, each of the foregoing reporting persons disclaims beneficial ownership of the shares held by MP CA Homes LLC, except to the extent that such reporting person holds an indirect pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
David J. Matlin and Mark R. Patterson are employees of the Adviser and each hold 50 percent of the membership interests in MatlinPatterson LLC. David J. Matlin and Mark R. Patterson may be deemed to have shared voting and investment control over the shares of the Issuer held by MP CA Homes LLC. They also have indirect pecuniary interests in the Funds. Their exact pecuniary interests therein are not readily determinable because they are subject to several variables, including without limitation, the internal rates of return of the Funds overall with respect to their indirect investment in the Issuer. David J. Matlin and Mark R. Patterson disclaim beneficial ownership of any of the reported securities except to the extent of their pecuniary interest therein.
Each share of Junior Convertible Preferred Stock is convertible into such number of shares of Common Stock of the Issuer equal to $1,000 divided by the applicable conversion price of the Junior Convertible Preferred Stock ($3.05 as of the date hereof, subject to anti-dilution adjustment); provided that upon such conversion the holder thereof cannot own more than 49% of the total voting power of the voting stock of the Issuer.
The Junior Convertible Preferred Stock has no expiration date.