Filing Details

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)*

 

 

Santander Consumer USA Holdings Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

80283M 101

(CUSIP Number)

Gerard A. Chamberlain

Santander Holdings USA, Inc.

75 State Street

Boston, Massachusetts 02109

(617) 346-7200

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

June 28, 2019

(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 §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-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 persons 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).

 

 

 

CUSIP No. 80283M 101

 

1		NAME OF REPORTING PERSON   Banco Santander, S.A.
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)  ☐        (b)  ☒
3		SEC USE ONLY
4		SOURCE OF FUNDS   WC
5		CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)   ☐
6		CITIZENSHIP OR PLACE OF ORGANIZATION   Spain

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH				7		SOLE VOTING POWER   -0-
				8		SHARED VOTING POWER   245,593,555
				9		SOLE DISPOSITIVE POWER   -0-
				10		SHARED DISPOSITIVE POWER   245,593,555

11		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   245,593,555
12		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES   ☐
13		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)   69.9%
14		TYPE OF REPORTING PERSON   CO

CUSIP No. 80283M 101

 

1		NAME OF REPORTING PERSON   Santander Holdings USA, Inc.
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)  ☐        (b)  ☒
3		SEC USE ONLY
4		SOURCE OF FUNDS   AF
5		CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)   ☐
6		CITIZENSHIP OR PLACE OF ORGANIZATION   Virginia

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH				7		SOLE VOTING POWER   -0-
				8		SHARED VOTING POWER   245,593,555
				9		SOLE DISPOSITIVE POWER   -0-
				10		SHARED DISPOSITIVE POWER   245,593,555

11		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   245,593,555
12		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES   ☐
13		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)   69.9%
14		TYPE OF REPORTING PERSON   CO

This Amendment No. 3 (Amendment No. 3) amends the Schedule 13D originally filed with the U.S. Securities and Exchange Commission (the SEC) by Banco Santander, S.A., a Spanish bank organized under the laws of the Kingdom of Spain (Santander), and Santander Holdings USA, Inc., a Virginia corporation and a wholly owned subsidiary of Santander (SHUSA, and together with Santander, the Reporting Persons), on November 17, 2017 as amended by Amendment No. 1 filed with the SEC by Santander and SHUSA on January 3, 2019 and Amendment No. 2 filed with the SEC by Santander and SHUSA on May 24, 2019 (collectively, the Initial Statement).

The Reporting Persons have not engaged in any transactions in the shares of common stock, par value $0.01 per share (Common Stock), of Santander Consumer USA Holdings Inc. (SC or the Issuer), a Delaware corporation with its principal executive offices located at 1601 Elm St. Suite #800, Dallas, Texas 75201, since May 24, 2019, the date of Amendment No. 2. The changes in the Reporting Persons percentage interest and voting interest in the Issuer result solely from a Common Stock repurchase program undertaken by the Issuer, which resulted in a reduction in the total number of shares of outstanding Common Stock. The Issuer recently concluded that repurchase program.

Item 1. Security and Issuer

This Amendment No. 3 relates to the Common Stock.

Item 2. Identity and Background

(a), (b), (c). The Reporting Persons are Santander and SHUSA.

Santanders principal executive offices are located at Ciudad Grupo Santander, Avda. De Cantabria, s/n 28660, Boadilla del Monte (Madrid) Spain.

SHUSA, a wholly owned subsidiary of Santander, is the parent company of Santander Bank, National Association, a national banking association, and owns a majority interest of SC. At December 31, 2018, SHUSA had approximately 16,700 employees.

SHUSAs principal executive offices are located at 75 State Street, Boston, Massachusetts 02109.

The name, business address, present principal occupation or employment and citizenship of each director and executive officer of each of Santander and SHUSA is set forth on Schedule A.

(d) and (e). Neither Santander or SHUSA nor any person identified in Item 2(a), (b) and (c) hereof has ever been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or has been a party to any civil proceeding of any judicial or administrative body that resulted in a judgment, decree or final order against such person enjoining him against future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f). Please see Schedule A.

Item 3. Source and Amount of Funds or Other Consideration

There are no changes to Item 3 from the Initial Statement.

Item 4. Purpose of Transaction

The last paragraph of Item 4 is amended and restated as follows: The Issuer concluded its previously disclosed repurchase program and has publicly disclosed a further repurchase program under which it has the authority to repurchase up to an aggregate of $1.1 billion of Common Stock. Assuming that the Reporting Persons do not dispose of any of their Common Stock and there are no other changes to the outstanding shares of Common Stock other than the $1.1 billion repurchase program, the Reporting Persons expect that their ownership interest in the Issuer will continue to increase as the Issuer implements that repurchase program.

Except as set forth above, there are no changes to Item 4 from the Initial Statement.

Item 5. Interest in Securities of the Issuer

Item 5(a), (b) and (c) of the Initial Statement are hereby amended and restated as follows:

(a) The aggregate percentage of Common Stock reported as beneficially owned by each Reporting Person named herein is based upon 351,471,351 shares of Common Stock outstanding, which is the total number of shares of Common Stock outstanding as of May 31, 2019. SHUSA owns directly, in the aggregate, 245,593,555 shares of Common Stock. By virtue of its relationship with SHUSA discussed in further detail in Item 2, Santander may be deemed to beneficially own the Common Stock owned directly by SHUSA. As a result of the activity under the previous repurchase program, these 245,593,555 shares represent approximately 69.9% of the outstanding shares of Common Stock as of May 31, 2019.

The following persons listed on Schedule A beneficially own the number of shares of Common Stock indicated: Stephen Alan Ferriss 12,010 shares of Common Stock, including 5,207 currently exercisable options Mr. Ferriss has the sole voting power and sole dispositive power in respect of the entirety of the number of shares of Common Stock; Scott Edward Powell 34,922 shares of Common Stock Mr. Powell has the sole voting power and sole dispositive power in respect of the entirety of the number of shares of Common Stock.

(b) Each of SHUSA and Santander is deemed to have shared power to vote and dispose of the 245,593,555 shares of Common Stock owned directly by SHUSA.

(c) Except as set forth in Item 4, there were no transactions in the Common Stock effected by Santander, SHUSA or by any person identified in Item 2(a), (b) or (c) hereof during the 60 days preceding the date of this Amendment No. 3.

Except as set forth above, there are no changes to Item 5 from the Initial Statement.

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

There are no changes to Item 6 from the Initial Statement.

Item 7. Material to Be Filed as Exhibits

The following Exhibits are filed herewith:

Exhibit 99.1 Joint Filing Agreement by and among the Reporting Persons (incorporated by reference to Exhibit 99.1 to the Initial Statement).

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: June 28, 2019

 

SCHEDULE A

The name, business or residential address, title, present principal occupation or employment, and citizenship of each of the directors and executive officers of Santander and SHUSA are set forth below.

Santander

 

Name		Business or Residential Address		Present Principal Occupation or Employment		Citizenship
Directors
Ana Patricia Botín-Sanz de Sautuola y OShea		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Executive Chairman of Banco Santander, S.A.		Spain
Belén Romana García		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Non-Executive Director (independent) of Banco Santander, S.A. and Non-Executive Director of Aviva Plc, London and of Aviva Italia Holding SpA; member of the advisory board of the Rafael del Pino Foundation and co-chair of the Global Board of Trustees of the Digital Future Society		Spain
Bruce Neil Carnegie-Brown		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Vice Chairman (non-executive independent director) and coordinator of non-executive directors (lead director) of Banco Santander, S.A.; Non-Executive Chairman of Moneysupemarket.com Group Plc and Non-Executive Chairman of Lloyds of London		United Kingdom
Álvaro Cardoso de Souza		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Non-Executive Director of Banco Santander, S.A.; Non-Executive Chairman of Banco Santander (Brasil), S.A.		Portugal
Carlos Fernández González		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Non-Executive Director (independent) of Banco Santander, S.A.; Chairman of the Board of Directors of Finaccess, S.A.P.I., member of the Board of Directors of Inmobiliaria Colonial, S.A. and member of the Supervisory Board of Amrest Holding, S.E.		Mexico and Spain

Esther Giménez-Salinas i Colomer		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Non-Executive Director (independent) of Banco Santander, S.A.; Professor emeritus at Ramón Llull University; director of the Chair of Restorative and Social Justice at the Pere Tarrés Foundation; Special Chair of Restorative Justice Nelson Mandela of the National Human Rights Commission of Mexico; director of Aqu and of Gawa Capital Partners, S.L.; member of the Bioethics Committee of the Government of Catalonia		Spain
Guillermo de la Dehesa Romero		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Non-Executive Director of Banco Santander, S.A.; Non-Executive ViceChairman of Amadeus IT Group, S.A.; Honorary Chairman of the Centre for Economic Policy Research of London; member of the Group of Thirty based in Washington; and Chairman of the Board of Trustees of IE Business School		Spain
Henrique de Castro		Banco Santander, S.A., Avda, Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Non-Executive Director (independent) of Banco Santander, S.A. 1; Independent Director of First Data Corporation and Target Corporation		Portugal
Homaira Akbari		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Non-Executive Director (independent) of Banco Santander, S.A.; Chief Executive Officer of AKnowledge Partners, LLC and Landstar System, Inc.		France and United States of America
Ignacio Benjumea Cabeza de Vaca		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Non-Executive Director of Banco Santander, S.A.; Vice Chairman of the Board of Trustees and member of the Executive Committee of Fundación de Estudios Financieros; and serves on the Board of Trustees and of the Executive Committee of Fundación Banco Santander.		Spain

 

1	Appointed at the ordinary general shareholders´ meeting held on April 12, 2019. The effectiveness is subject to regulatory approvals.

Francisco Javier Botín-Sanz de Sautuola y OShea		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Non-Executive Director of Banco Santander, S.A.; Executive Chairman of JB Capital Markets, Sociedad de Valores, S.A.U.		Spain
José Antonio Álvarez Álvarez		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Vice Chairman and Chief Executive Officer of Banco Santander, S.A.		Spain
Rodrigo Echenique Gordillo		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Non-Executive Director of Banco Santander, S.A.; Chairman of the Board of Trustees and Executive Committee of the Banco Santander Foundation and Non-Executive director at Inditex, S.A.		Spain
Ramiro Mato García-Ansorena		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Non-Executive Director (independent) of Banco Santander, S.A.		Spain
Sol Daurella Comadrán		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Non-Executive Director (independent) of Banco Santander, S.A.; Executive Chairman of Olive Partners, S.A.; Non-Executive Chairman of Coca Cola European Partners, Plc and other positions at Cobega Group companies		Spain
Executive Officers (Who Are Not Directors)
Jaime Pérez Renovales		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		General Secretary and Secretary of the Board, Banco Santander, S.A.		Spain
Javier Maldonado Trinchant		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Group Head of Costs, Banco Santander, S.A.		Spain
Jennifer Scardino		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Head of Global Communications; Group Deputy Head of Communications, Corporate Marketing and Research, Banco Santander, S.A.		United Kingdom and United States of America

José Antonio García Cantera		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Group Chief Financial Officer, Banco Santander, S.A.		Spain
José Francisco Doncel Razola		Banco Santander, S.A., Avda. de Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Group Head of Accounting and Financial Control, Banco Santander, S.A.		Spain
José Luis de Mora Gil-Gallardo		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Group Head of Strategy, Corporate Development and Financial Planning, Banco Santander, S.A.		Spain
José Maria Linares Perou		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Global Head of Corporate and Investment Banking, Banco Santander, S.A.		United Kingdom, Bolivia
José María Nus Badía		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Risk adviser to Group Executive Chairman, Banco Santander, S.A.		Spain
Juan Guitard Marín		Ciudad Grupo Santander Edificio Marisma, pl. 2 28660, Boadilla del Monte (Madrid) Spain		Group Chief Audit Executive, Banco Santander, S.A.		Spain
Juan Manuel Cendoya Méndez de Vigo		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Group Head of Communications, Corporate Marketing and Research, Banco Santander, S.A.		Spain
Keiran Foad		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Group Chief Risk Officer, Banco Santander, S.A.		United Kingdom

Javier San Félix		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Group Head of Global Santander Payments Services, Banco Santander, S.A.2		Spain
Magdalena Sofía Salarich Fernández de Valderrama		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Head of Santander Consumer Finance		Spain
Mónica López-Monís Gallego		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Group Chief Compliance Officer and Head of Supervisory and Regulatory Relations, Banco Santander, S.A.3		Spain
José Rami Aboukhair Hurtado		Santander España, Gran Vía de Hortaleza, N°3, Edificio Cantabria, 2aPlanta, 28033, Madrid Spain		Country Head of Santander Spain		Spain
Victor Matarranz Sanz de Madrid		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Global Head of Wealth Management, Banco Santander, S.A.		Spain
Lindsey Tyler Argalas		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Head of Santander Digital, Banco Santander, S.A.		United States of America
Dirk Marzluf		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Group Head of Technology and Operations, Banco Santander, S.A.		Germany

 

 

2	Appointment subject to receipt of regulatory approvals.

3	Appointed Head of Supervisory and Regulatory Relations on May 7, 2019. She will continue to perform the position of Group Chief Compliance Officer simultaneously with the new role until her replacement in this role is decided and becomes effective.

SHUSA

 

Name		Business or Residential Address		Present Principal Occupation or Employment		Citizenship
Directors
Stephen Alan Ferriss		785 Crandon Blvd., #1605 Key Biscayne, FL 33149		Retired		United States of America
Alan H. Fishman		1 Pierrepont Street Brooklyn, NY 11201		Retired		United States of America
Thomas Stephen Johnson		582 Island Drive Palm Beach, FL 33480		Retired		United States of America
Juan Guitard Marin		Ciudad Grupo Santander Edificio Marisma, pl.2 28660, Boadilla del Monte (Madrid) Spain		Group Chief Audit Executive, Banco Santander, S.A.		Spain
Victor Matarranz Sanz de Madrid		Ciudad Grupo Santander Avda. De Cantabria, s/n 28660, Boadilla del Monte (Madrid) Spain		Global Head of Wealth Management, Banco Santander, S.A.		Spain
Scott Edward Powell		c/o Santander Holdings USA, Inc. 75 State Street Boston, MA 02109		Chief Executive Officer and President, Santander Holdings USA, Inc., Santander Consumer USA Holdings Inc. and Santander Consumer USA Inc.; Senior Executive Vice President, Santander Bank, N.A.		United States of America
José Francisco Doncel Razola		Ciudad Grupo Santander Edif. Amazonia, pl. 1 Avda. De Cantabria, s/n 28660, Boadilla del Monte (Madrid)  Spain		Group Head of Accounting and Financial Control, Banco Santander S.A.		Spain
Henri-Paul Rousseau		c/o Santander Holdings USA, Inc. 75 State Street Boston, MA 02109		Visiting Professor, Paris School of Economics		Canada
Thomas Timothy Ryan, Jr.		10295 Collins Ave, Apt. 404 Bal Harbour, FL 33154		Non-Executive Chairman, Santander Holdings USA, Inc. and Santander Bank, N.A.		United States of America
Javier Maldonado Trinchant		Banco Santander, S.A., Avda. Cantabria, s/n, Ciudad Grupo Santander, 28660, Boadilla del Monte (Madrid) Spain		Group Head of Costs, Banco Santander, S.A.		Spain

Executive Officers (Who Are Not Directors)
Mahesh Aditya		c/o Santander Holdings USA, Inc. 75 State Street Boston, MA 02109		Chief Risk Officer, Santander Holdings USA, Inc. and Santander Bank, N.A.		United States of America
David Cornish		c/o Santander Holdings USA, Inc. 75 State Street Boston, MA 02109		Chief Accounting Officer, Controller, Santander Holdings USA, Inc. and Santander Bank, N.A.		United States of America
Madhukar Dayal		c/o Santander Holdings USA, Inc. 75 State Street Boston, MA 02109		Chief Executive Officer, Santander Bank, N.A.; Chief Financial Officer, Santander Holdings USA, Inc. and Santander Bank, N.A.		United States of America
Daniel Griffiths		c/o Santander Holdings USA, Inc. 75 State Street Boston, MA 02109		Chief Technology Officer, Santander Holdings USA, Inc. and Santander Bank, N.A.		United States of America
Michael Lipsitz		c/o Santander Holdings USA, Inc. 75 State Street Boston, MA 02109		Chief Legal Officer, Santander Holdings USA, Inc. and Santander Bank, N.A.		United States of America
Maria Veltre		c/o Santander Holdings USA, Inc. 75 State Street Boston, MA 02109		Head of U.S. Digital & Innovation and Payments Strategy, Santander Holdings USA, Inc.; Chief Marketing and Digital Officer, Santander Bank, N.A.		United States of America
William Wolf		c/o Santander Holdings USA, Inc. 75 State Street Boston, MA 02109		Chief Human Resources Officer, Santander Holdings USA, Inc. and Santander Bank, N.A.		United States of America