Filing Details
- Accession Number:
- 0001144204-16-139539
- Form Type:
- 13D Filing
- Publication Date:
- 2016-12-14 17:48:08
- Filed By:
- Jwm Family Enterprises, Inc.
- Company:
- Marriott International Inc (NASDAQ:MAR)
- Filing Date:
- 2016-12-15
- SEC Url:
- 13D Filing
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
---|---|---|---|---|---|---|
JWM Family Enterprises, Inc. 5 | 0 | 24,227,118 | 0 | 24,227,118 | 24,227,118 | 6.2% |
JWM Family Enterprises | 7,923,091 | 16,304,027 | 7,923,091 | 16,304,027 | 24,227,118 | 6.2% |
J.W. Marriott, Jr | 737,117 | 38,648,939 | 737,117 | 38,648,939 | 39,386,056 | 10.1% |
John W. Marriott III | 436,644 | 24,972,284 | 436,644 | 29,175,244 | 25,408,928 | 6.5% |
Deborah Marriott Harrison | 273,486 | 29,175,244 | 262,415 | 24,227,118 | 29,448,730 | 7.5% |
The Juliana B. Marriott Marital Trust 46-6976704 | 503,895 | 24,227,118 | 503,895 | 25,210,034 | 24,731,013 | 6.3% |
Juliana B. Marriott | 42,000 | 25,210,034 | 42,000 | 24,232,215 | 25,252,034 | 6.5% |
Stephen Blake Marriott | 149,334 | 24,232,215 | 149,334 | 29,409,339 | 24,381,549 | 6.2% |
David Sheets Marriott | 670,842 | 29,409,339 | 670,842 | 30,080,181 | 7.7% |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 4)
MARRIOTT INTERNATIONAL, INC.
(Name of Issuer)
Class A Common Stock, par value $0.01 per share
(Title of Class of Securities)
571903202
(CUSIP Number)
Stephanie M. Loughlin
Venable LLP
575 7th Street, N.W.
Washington, D.C. 20004 (202) 344-4874
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 9, 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 Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. ¨
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 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).
SCHEDULE 13D/A
CUSIP No. 571903202 | Page 2 of 18 Pages |
1 |
NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) JWM Family Enterprises, Inc. 52-1823618 |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ¨ (b) ¨ |
3 |
SEC USE ONLY
|
4 |
SOURCE OF FUNDS OO
|
5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨ |
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7 |
SOLE VOTING POWER 0 |
8
|
SHARED VOTING POWER 24,227,118* | |
9 |
SOLE DISPOSITIVE POWER 0 | |
10 |
SHARED DISPOSITIVE POWER 24,227,118* |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 24,227,118** |
12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
Not Applicable |
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.2%*** |
14
|
TYPE OF REPORTING PERSON CO
|
* Consists of the following: (a) 9,199,999 shares owned by Thomas Point Ventures, L.P., whose sole general partner is JWM Family Enterprises, L.P.; (b) 2,904,028 shares held by Terrapin Limited Holdings, LLC, whose sole member is JWM Family Enterprises, L.P.; (c) 4,200,000 shares owned by Anchorage Partners, L.P., whose sole general partner is JWM Family Enterprises, L.P.; and (d) 7,923,091 shares owned by JWM Family Enterprises, L.P. JWM Family Enterprises, Inc. is the sole general partner of JWM Family Enterprises, L.P.
** JWM Family Enterprises, Inc., J.W. Marriott, Jr., John W. Marriott III, Deborah Marriott Harrison, David Sheets Marriott, Stephen Blake Marriott, The Juliana B. Marriott Marital Trust and Juliana B. Marriott (collectively, the “Potential Group Members”) may be deemed to be a “group” within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The aggregate number of shares beneficially owned by all of the Potential Group Members without duplication is 43,439,017, including 574,449 shares of Class A Common Stock attributable to stock options (“Options”), stock appreciation rights (“SARs”), and restricted stock units (“RSUs”) that are currently exercisable or exercisable within 60 days of December 8, 2016.
*** The denominator is based on 390,479,820 shares of Class A Common Stock outstanding as of October 21, 2016, as stated on the facing page of the Form 10-Q filed by Marriott International, Inc. for the quarter ended September 30, 2016 (the “Form 10-Q”).
SCHEDULE 13D/A
CUSIP No. 571903202 | Page 3 of 18 Pages |
1 |
NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) JWM Family Enterprises, L.P. 52-1821926 |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ¨ (b) ¨ |
3 |
SEC USE ONLY
|
4 |
SOURCE OF FUNDS OO
|
5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨ |
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7 |
SOLE VOTING POWER 7,923,091* |
8
|
SHARED VOTING POWER 16,304,027** | |
9 |
SOLE DISPOSITIVE POWER 7,923,091* | |
10 |
SHARED DISPOSITIVE POWER 16,304,027** |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 24,227,118
|
12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
Not Applicable |
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.2%*** |
14
|
TYPE OF REPORTING PERSON PN
|
* Consists of 7,923,091 shares held directly by JWM Family Enterprises, L.P.
** Consists of the following: (a) 9,199,999 shares owned by Thomas Point Ventures, L.P., whose sole general partner is JWM Family Enterprises, L.P.; (b) 2,904,028 shares held by Terrapin Limited Holdings, LLC, whose sole member is JWM Family Enterprises, L.P.; and (c) 4,200,000 shares owned by Anchorage Partners, L.P., whose sole general partner is JWM Family Enterprises, L.P.
*** The denominator is based on 390,479,820 shares of Class A Common Stock outstanding as of October 21, 2016, as stated on the facing page of the Form 10-Q.
SCHEDULE 13D/A
CUSIP No. 571903202 | Page 4 of 18 Pages |
1 |
NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) J.W. Marriott, Jr. |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ¨ (b) ¨ |
3 |
SEC USE ONLY
|
4 |
SOURCE OF FUNDS OO
|
5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨ |
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION United States of America |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7 |
SOLE VOTING POWER 737,117* |
8
|
SHARED VOTING POWER 38,648,939** | |
9 |
SOLE DISPOSITIVE POWER 737,117* | |
10 |
SHARED DISPOSITIVE POWER 38,648,939** |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 39,386,056***
|
12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
Not Applicable |
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.1%**** |
14
|
TYPE OF REPORTING PERSON IN
|
* Consists of the following: (a) 240,024 shares held by J.W. Marriott, Jr. as sole trustee of a revocable trust; and (b) 497,093 shares attributable to SARs and RSUs held by J.W. Marriott, Jr. currently exercisable or exercisable within 60 days of December 8, 2016. SAR underlying share amounts are based on the $83.49 closing price of Marriott International, Inc. Class A Common Stock on December 8, 2016.
** Consists of the following:
(a) 3,718,441 shares held by ten trusts for the benefit of the children of J.W. Marriott, Jr. and the children of Richard
E. Marriott, for which J.W. Marriott, Jr. serves as a trustee; (b) 3,523,737 shares owned by The J. Willard & Alice
S. Marriott Foundation, a charitable foundation, for which J.W. Marriott, Jr. serves as a trustee; (c) 4,846,110 shares held
by a limited liability company, for which J.W. Marriott, Jr. serves as a manager; (d) 24,227,118 shares beneficially owned by JWM
Family Enterprises, Inc.; (e)
SCHEDULE 13D/A
SCHEDULE 13D/A
CUSIP No. 571903202 | Page 5 of 18 Pages |
1,710,200 shares held by three trusts for the benefit of J.W. Marriott, Jr.’s children, for which the spouse of J.W. Marriott, Jr. serves as a trustee; (f) 49,575 shares owned by three trusts for the benefit of John W. Marriott III’s children, for which the spouse of J.W. Marriott, Jr. serves as a trustee; (g) 48,000 shares owned by the J. Willard Marriott Jr. Foundation, for which J.W. Marriott, Jr. serves as a trustee; (h) 285,758 shares held by J.W. Marriott, Jr.’s spouse; and (i) 240,000 shares owned by The JWM Generations Trust, for which the spouse of J.W. Marriott, Jr. serves as a trustee. J.W. Marriott, Jr. disclaims beneficial ownership of the foregoing shares in excess of his pecuniary interest.
*** The Potential Group Members may be deemed to be a “group” within the meaning of Section 13(d)(3) of the Securities Exchange Act. The aggregate number of shares beneficially owned by all of the Potential Group Members without duplication is 43,439,017, including 574,449 shares of Class A Common Stock attributable to Options, SARs, and RSUs that are currently exercisable or exercisable within 60 days of December 8, 2016.
**** The denominator is based on: (a) 390,479,820 shares of Class A Common Stock outstanding as of October 21, 2016, as stated on the facing page of the Form 10-Q; and (b) 497,093 shares Stock attributable to SARs and RSUs that are currently exercisable or exercisable within 60 days of December 8, 2016.
SCHEDULE 13D/A
CUSIP No. 571903202 | Page 6 of 18 Pages |
1 |
NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) John W. Marriott III |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ¨ (b) ¨ |
3 |
SEC USE ONLY
|
4 |
SOURCE OF FUNDS OO
|
5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨ |
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION United States of America |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7 |
SOLE VOTING POWER 436,644* |
8
|
SHARED VOTING POWER 24,972,284** | |
9 |
SOLE DISPOSITIVE POWER 436,644* | |
10 |
SHARED DISPOSITIVE 24,972,284** |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 25,408,928***
|
12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
Not Applicable |
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%**** |
14
|
TYPE OF REPORTING PERSON IN
|
* Consists of 436,644 shares held directly by John W. Marriott III.
** Consists of the following: (a) 24,227,118 shares beneficially owned by JWM Family Enterprises, Inc.; (b) 179,166 shares owned by three trusts for the benefit of John W. Marriott III’s children, for which John W. Marriott III serves as a trustee; (c) 240,000 shares owned by The JWM Generations Trust, for which John W. Marriott III serves as a trustee; (d) 251,000 shares owned by a life insurance trust, for which John W. Marriott III serves as a trustee; and (e) 75,000 shares owned by a trust for the descendants of John W. Marriott III, for which John W. Marriott III serves as a trustee. John W. Marriott III disclaims beneficial ownership of all of the foregoing shares in excess of his pecuniary interest.
*** The Potential Group Members may be deemed to be a “group” within the meaning of Section 13(d)(3) of the Exchange Act. The aggregate number of shares beneficially owned by all of the Potential Group Members without duplication is 43,439,017, including 574,449 shares of Class A Common Stock issuable upon the exercise of Options, SARs, and RSUs that are currently exercisable or exercisable within 60 days of December 8, 2016.
**** The denominator is based on 390,479,820 shares of Class A Common Stock outstanding as of October 21, 2016, as stated on the facing page of the Form 10-Q.
SCHEDULE 13D/A
CUSIP No. 571903202 | Page 7 of 18 Pages |
1 |
NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Deborah Marriott Harrison |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) ¨ |
3 |
SEC USE ONLY
|
4 |
SOURCE OF FUNDS OO
|
5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨ |
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION United States of America |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7 |
SOLE VOTING POWER 273,486* |
8
|
SHARED VOTING POWER 29,175,244** | |
9 |
SOLE DISPOSITIVE POWER 262,415* | |
10 |
SHARED DISPOSITIVE POWER 29,175,244** |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 29,448,730***
|
12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
Not Applicable |
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.5%**** |
14
|
TYPE OF REPORTING PERSON IN |
* Consists of (a) 120,468 shares held directly by Deborah Marriott Harrison; (b) 153,000 shares held in a grantor-retained annuity trust; and (c) 18 shares attributable to SARs and RSUs held by Deborah Marriott Harrison currently exercisable or exercisable within 60 days of December 8, 2016. SAR underlying share amounts are based on the $83.49 closing price of Marriott International, Inc. Class A Common Stock on December 8, 2016.
** Consists of the following: (a) 24,227,118 shares beneficially owned by JWM Family Enterprises, Inc.; (b) 3,523,737 shares owned by The J. Willard & Alice S. Marriott Foundation, a charitable foundation, for which Deborah Marriott Harrison serves as a trustee; (c) 16,491 shares held directly by Deborah Marriott Harrison’s husband, Ronald Taylor Harrison; (d) 179,166 shares held in three trusts for the benefit of John W. Marriott III’s children, for which Deborah Marriott Harrison serves as a trustee; (e) 6,420 shares held in two trusts for the benefit of Deborah Marriott Harrison’s grandchildren, for which Deborah Marriott Harrison serves as a trustee; (f) 303,142 shares held in four trusts for the benefit of Deborah Marriott Harrison’s children, for which Deborah Marriott Harrison serves as a trustee; (g) 54,920 shares
SCHEDULE 13D/A
CUSIP No. 571903202 |
| Page 8 of 18 Pages |
held in a limited liability company, for which Deborah Marriott Harrison serves as a manager; (h) 110,561 shares held in a limited liability company, for which Deborah Marriott Harrison’s spouse serves as a manager; (i) 53,479 shares subject to SARs and RSUs held by Deborah Marriott Harrison’s spouse, currently exercisable or exercisable within 60 days of December 8, 2016; (j) 240,000 shares owned by The JWM Generations Trust, for which Deborah Marriott Harrison serves as a trustee; (k) 251,000 shares owned by a life insurance trust, for which Deborah Marriott Harrison serves as a trustee; and (l) 209,210 shares held in a trust for the benefit of Deborah Marriott Harrison’s descendants, for which Deborah Marriott Harrison serves as a trustee. Deborah Marriott Harrison disclaims beneficial ownership of all of the foregoing shares in excess of her pecuniary interest.
*** The Potential Group Members may be deemed to be a “group” within the meaning of Section 13(d)(3) of the Exchange Act. The aggregate number of shares beneficially owned by all of the Potential Group Members without duplication is 43,439,017, including 574,449 shares of Class A Common Stock issuable upon the exercise of Options, SARs, and RSUs that are currently exercisable or exercisable within 60 days of December 8, 2016.
**** The denominator is based on: (a) 390,479,820 shares of Class A Common Stock outstanding as of October 21, 2016, as stated on the facing page of the Form 10-Q; and (b) 53,496 shares subject to SARs and RSUs exercisable within 60 days of December 8, 2016.
SCHEDULE 13D/A
CUSIP No. 571903202 | Page 9 of 18 Pages |
1
|
NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) The Juliana B. Marriott Marital Trust 46-6976704 |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ¨ (b) ¨ |
3 |
SEC USE ONLY
|
4 |
SOURCE OF FUNDS OO
|
5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨ |
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION United States of America |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7 |
SOLE VOTING POWER 503,895* |
8 |
SHARED VOTING POWER 24,227,118** | |
9 |
SOLE DISPOSITIVE POWER 503,895* | |
10 |
SHARED DISPOSITIVE POWER 24,227,118** |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 24,731,013***
|
12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
Not Applicable |
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.3%**** |
14
|
TYPE OF REPORTING PERSON OO
|
* Consists of 503,895 shares held directly by The Juliana B. Marriott Marital Trust (the “Marital Trust”).
** Consists of 24,227,118 shares beneficially owned by JWM Family Enterprises, Inc. The Marital Trust disclaims beneficial ownership of the foregoing shares in excess of its pecuniary interest.
*** The Potential Group Members may be deemed to be a “group” within the meaning of Section 13(d)(3) of the Exchange Act. The aggregate number of shares beneficially owned by all of the Potential Group Members without duplication is 43,439,017, including 574,449 shares of Class A Common Stock issuable upon the exercise of Options, SARs, and RSUs that are currently exercisable or exercisable within 60 days of December 8, 2016.
**** The denominator is based on 390,479,820 shares of Class A Common Stock outstanding as of October 21, 2016, as stated on the facing page of the Form 10-Q.
SCHEDULE 13D/A
CUSIP No. 571903202 | Page 10 of 18 Pages |
1 |
NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Juliana B. Marriott |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ¨ (b) ¨ |
3 |
SEC USE ONLY
|
4 |
SOURCE OF FUNDS OO
|
5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨ |
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION United States of America |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7 |
SOLE VOTING POWER 42,000* |
8
|
SHARED VOTING POWER 25,210,034** | |
9 |
SOLE DISPOSITIVE POWER 42,000* | |
10 |
SHARED DISPOSITIVE POWER 25,210,034** |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 25,252,034***
|
12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
Not Applicable |
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%**** |
14
|
TYPE OF REPORTING PERSON IN
|
* Consists of 42,000 shares held directly by Juliana B. Marriott.
** Consists of the following: (a) 24,731,013 shares beneficially owned by the Marital Trust, for which Juliana B. Marriott serves as a trustee; (b) 290,000 shares held in trust for the descendants of Stephen Garff Marriott, for which Juliana B. Marriott serves as a trustee; and (c) 189,021 shares held in six trusts for the benefit of Juliana B. Marriott’s children, for which Juliana B. Marriott serves as a trustee. Juliana B. Marriott disclaims beneficial ownership of the foregoing shares in excess of her pecuniary interest.
*** The Potential Group Members may be deemed to be a “group” within the meaning of Section 13(d)(3) of the Exchange Act. The aggregate number of shares beneficially owned by all of the Potential Group Members without duplication is 43,439,017, including 574,449 shares of Class A Common Stock issuable upon the exercise of Options, SARs, and RSUs that are currently exercisable or exercisable within 60 days of December 8, 2016.
**** The denominator is based on 390,479,820 shares of Class A Common Stock outstanding as of October 21, 2016, as stated on the facing page of the Form 10-Q.
SCHEDULE 13D/A
CUSIP No. 571903202 | Page 11 of 18 Pages |
1 |
NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Stephen Blake Marriott |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ¨ (b) ¨ |
3 |
SEC USE ONLY
|
4 |
SOURCE OF FUNDS OO
|
5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨ |
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION United States of America |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7 |
SOLE VOTING POWER 149,334* |
8
|
SHARED VOTING POWER 24,232,215** | |
9 |
SOLE DISPOSITIVE POWER 149,334* | |
10 |
SHARED DISPOSITIVE POWER 24,232,215** |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 24,381,549***
|
12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
Not Applicable |
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.2%**** |
14
|
TYPE OF REPORTING PERSON IN
|
* Consists of 149,334 shares held directly by Stephen Blake Marriott.
** Consists of the following: (a) 24,227,118 shares beneficially owned by JWM Family Enterprises, Inc.; and (b) 5,097 shares held by two trusts for the benefit of his nephews, for which Stephen Blake Marriott serves as a trustee. Stephen Blake Marriott disclaims beneficial ownership of the foregoing shares in excess of his pecuniary interest.
*** The Potential Group Members may be deemed to be a “group” within the meaning of Section 13(d)(3) of the Exchange Act. The aggregate number of shares beneficially owned by all of the Potential Group Members without duplication is 43,439,017, including 574,449 shares of Class A Common Stock issuable upon the exercise of Options, SARs, and RSUs that are currently exercisable or exercisable within 60 days of December 8, 2016.
**** The denominator is based on 390,479,820 shares of Class A Common Stock outstanding as of October 21, 2016, as stated on the facing page of the Form 10-Q.
SCHEDULE 13D/A
CUSIP No. 571903202 | Page 12 of 18 Pages |
1 |
NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) David Sheets Marriott |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ¨ (b) ¨ |
3 |
SEC USE ONLY
|
4 |
SOURCE OF FUNDS OO
|
5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨ |
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION United States of America |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7 |
SOLE VOTING POWER 670,842* |
8
|
SHARED VOTING POWER 29,409,339** | |
9 |
SOLE DISPOSITIVE POWER 670,842* | |
10 |
SHARED DISPOSITIVE POWER 29,409,339** |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 30,080,181***
|
12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
Not Applicable |
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.7%**** |
14
|
TYPE OF REPORTING PERSON IN
|
* Consists of the following: (a) 647,001 shares held directly David Sheets Marriott; and (b) 23,841 shares subject to Options, SARs, and RSUs currently exercisable or exercisable within 60 days of December 8 2016. SAR underlying share amounts are based on the $83.49 closing price of Marriott International, Inc. Class A Common Stock on December 8, 2016.
** Consists of the following: (a) 24,227,118 shares beneficially owned by JWM Family Enterprises, Inc.; (b) 15,418 shares held by David Sheets Marriott’s spouse; (c) 75,252 shares held by four trusts for the benefit of David Sheets Marriott’s children, for which David Sheets Marriott serves as a trustee; (d) 240,000 shares owned by The JWM Generations Trust, for which David Sheets Marriott serves as a trustee; (e) 251,000 shares owned by a life insurance trust, for which David Sheets Marriott serves as a trustee; (f) 75,000 shares owned by a trust for the descendants of John W. Marriott III, for which David Sheets Marriott serves as a trustee; (g) 142,565 shares owned by a trust for the descendants of David Sheets Marriott, for which David Sheets Marriott serves as a trustee; (h) 290,000 shares held in trust for the descendants of Stephen Garff Marriott, for which David Sheets Marriott serves as a trustee; (i) 503,895 shares held by a trust for the benefit of Juliana B. Marriott, for which David Sheets Marriott serves as a trustee; (j) 3,523,737 shares owned by The J. Willard & Alice S. Marriott Foundation, a charitable foundation, for which David Sheets Marriott serves as a trustee; and (k) 65,354 shares held by two trusts for the benefit of a nephew, for which David Sheets Marriott serves as a trustee. David Sheets Marriott disclaims beneficial ownership of the foregoing shares in excess of his pecuniary interest.
SCHEDULE 13D/A
CUSIP No. 571903202 | Page 13 of 18 Pages |
*** The Potential Group Members may be deemed to be a “group” within the meaning of Section 13(d)(3) of the Exchange Act. The aggregate number of shares beneficially owned by all of the Potential Group Members without duplication is 43,439,017, including 574,449 shares of Class A Common Stock issuable upon the exercise of Options, SARs, and RSUs that are currently exercisable or exercisable within 60 days of December 8, 2016.
**** The denominator is based on: (a) 390,479,820 shares of Class A Common Stock outstanding as of October 21, 2016, as stated on the facing page of the Form 10-Q; and (b) 23,841 shares subject to Options, SARs and RSUs currently exercisable or exercisable within 60 days of December 8, 2016.
This Amendment No. 4 (this “Amendment No. 4”) amends, supplements and to the extent inconsistent with, supersedes the Schedule 13D filed by J.W. Marriott, Jr., John W. Marriott III, Deborah Marriott Harrison, Stephen Blake Marriott and David Sheets Marriott (together with Juliana B. Marriott, the “Individual Reporting Persons”), and the Estate of Stephen Garff Marriott (the “Estate”), JWM Family Enterprises, Inc. (“Family Corp”) and JWM Family Enterprises, L.P. (“Family L.P.” and, collectively with the Individual Reporting Persons, Family Corp and The Juliana B. Marriott Marital Trust, the “Reporting Persons”) on May 26, 2006, as amended by Amendment No. 1 filed on April 21, 2009, Amendment No. 1 filed on March 13, 2012, Amendment No. 2 filed on November 21, 2013 and Amendment No. 3 filed on January 29, 2015 (as amended, the “Schedule 13D”). Amendment No. 3 constituted an “exit filing” with respect to the Estate.
Item 2. Identity and Background
Item 2 of the Schedule 13D is hereby deleted in its entirety and substituted by the following:
The Individual Reporting Persons, The Juliana B. Marriott Marital Trust (the “Marital Trust” and, together with Family Corp and Family L.P., the “Organizations”) and Family Corp may be deemed to be a “group” within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), due to the provisions of the Second Amended and Restated Stockholders Agreement, effective as of September 30, 2013 (the “Stockholders Agreement”), as described in Item 4. Except as expressly set forth in this Amendment No. 4, each Reporting Person disclaims beneficial ownership of the shares of Class A Common Stock beneficially owned by any other Reporting Person.
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To the best knowledge of the Reporting Persons, the name, business address and present principal occupation or employment of each Individual Reporting Person is set forth on Appendix A hereto, which is incorporated by reference herein. The Marital Trust is a trust formed under the laws of Maryland. Family L.P. is a limited partnership organized under the laws of the State of Delaware. Family L.P.’s principal business is the ownership and operation of hotels. The general partner of Family L.P. is Family Corp. Family Corp is a corporation organized under the laws of the State of Delaware. Family Corp’s principal business is the ownership and operation of hotels. The directors and executive officers of Family Corp are set forth on Appendix A hereto. The business address of each Organization is 9737 Washingtonian Boulevard, Suite 404, Gaithersburg, MD 20878.
To the best knowledge of the Reporting Persons, during the last five years, none of the Reporting Persons, or the directors and executive officers of Family Corp has been convicted in any criminal proceedings (excluding traffic violations or similar misdemeanors).
To the best knowledge of the Reporting Persons, during the last five years, none of the Reporting Persons, or the directors and executive officers of Family Corp has been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction as the result of which such person was or is subject to any judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
To the best knowledge of the Reporting Persons, each Individual Reporting Person, and the directors and executive officers of Family Corp are citizens of the United States of America.
Item 4. Purpose of the Transaction
The text under each heading listed below of Item 4 of the Schedule 13D is hereby supplemented and amended by the following:
Family Corp Pledged Shares
As of the date of this Amendment No. 4, of the shares of Class A Common Stock beneficially owned by Family Corp, 4,800,000 shares have been pledged as collateral in connection primarily with investments in hotel properties.
Foundation Stock Trading Plan
The Foundation Stock Trading Plan was terminated on May 29, 2015.
The follow text is hereby added to Item 4:
Other Pledged Shares
As of the date of this Amendment No. 4, of the shares of Class A Common Stock held directly by John W. Marriott III, 70,760 shares have been pledged as collateral.
As of the date of this Amendment No. 4, of the shares of Class A Common Stock held directly by Stephen Blake Marriott, 149,334 shares have been pledged as collateral.
As of the date of this Amendment No. 4, of the shares of Class A Common Stock held directly by trusts of which J.W. Marriott, Jr. is a trustee, 865,363 shares have been pledged as collateral.
As of the date of this Amendment No. 4, of the shares of Class A Common Stock held directly by a trust of which John W. Marriott III and Deborah Marriott Harrison are trustees, 70,203 shares have been pledged as collateral.
Item 5. Interest in Securities of the Issuer
Item 5 of the Schedule 13D is hereby deleted in its entirety and substituted by the following:
(a) See Items 11 and 13 and the footnotes thereto of the cover pages to this Amendment No. 4, which are incorporated herein by reference, for the aggregate number of shares and percentage of Class A Common Stock owned by each Reporting Person.
(b) See Items 7-10 and the footnotes thereto of the cover pages to this Amendment No. 4, which are incorporated herein by reference, for the aggregate number of shares of Class A Common Stock beneficially owned by each of the Reporting Persons as to which there is sole power to vote or to direct the vote, shared power to vote or direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition of such shares of Class A Common Stock.
(c) The following Reporting Persons have effected transactions in the Class A Common Stock during the past sixty days:
· | On November 10, 2016, Stephen Blake Marriott sold 4,500 shares. |
· | On November 21, 2016, John W. Marriott III sold 50,000 shares. |
· | On December 8, 2016, David Sheets Marriott sold 7,254 shares. |
· | On December 8, 2016, the Marital Trust sold 18,190 shares. |
· | On December 12, 2016, the Marital Trust sold 16,810 shares. |
(d) Except as provided in Item 4 and as described in the footnotes to the cover pages of this Amendment No. 4, no other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Class A Common Stock referred to in paragraphs (a) and (b) above.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
Item 6 of the Schedule 13D is hereby deleted in its entirety and substituted by the following:
The description of the material terms of the Stockholders Agreement set forth in Item 4 is incorporated herein by this reference.
The Reporting Persons have also entered into a Joint Filing Agreement dated as of December 14, 2016, a copy of which is filed as Exhibit 7.01 with this Amendment No. 4.
Item 7. Material to be Filed as Exhibits
Exhibit 7.01 Joint Filing Agreement, dated as of December 14, 2016.
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.
December 14, 2016 | By: | /s/ J.W. Marriott, Jr. | |
Date | J.W. Marriott, Jr. | ||
By: | /s/ Deborah Marriott Harrison | ||
Deborah Marriott Harrison | |||
The Juliana B. Marriott Marital Trust | |||
By: | /s/ Juliana B. Marriott | ||
Name: | Juliana B. Marriott | ||
Title: | Trustee | ||
By: | /s/ Juliana B. Marriott | ||
Juliana B. Marriott | |||
By: | /s/ John W. Marriott III | ||
John W. Marriott III | |||
By: | /s/ David Sheets Marriott | ||
David Sheets Marriott | |||
By: | /s/ Stephen Blake Marriott | ||
Stephen Blake Marriott | |||
JWM Family Enterprises, Inc. | |||
By: | /s/ Jacqueline M. Perry | ||
Name: | Jacqueline M. Perry | ||
Title: | Treasurer | ||
JWM Family Enterprises, L.P. | |||
By: JWM Family Enterprises, Inc., its General Partner | |||
By: | /s/ Jacqueline M. Perry | ||
Name: | Jacqueline M. Perry | ||
Title: | Treasurer |
Appendix A
Individual Reporting Persons
Name | Business Address | Principal Occupation |
J.W. Marriott, Jr.* | Marriott International, Inc. 10400 Fernwood Road Bethesda, MD 20817 | Executive Chairman and Chairman of the Board, Marriott International, Inc. |
Deborah Marriott Harrison* | Marriott International, Inc. 10400 Fernwood Road Bethesda, MD 20817 | Global Officer, Marriott Culture and Business Councils, Marriott International, Inc. |
Juliana B. Marriott | JWM Family Enterprises, Inc. 9737 Washingtonian Blvd, Suite 404 Gaithersburg, MD 20878 | Interior Designer, Self-Employed |
John W. Marriott III | JWM Family Enterprises, Inc. 9737 Washingtonian Blvd, Suite 404 Gaithersburg, MD 20878 | Consultant, JWM Family Enterprises, Inc. |
David Sheets Marriott | Marriott International, Inc. 10400 Fernwood Road Bethesda, MD 20817 | Chief Operations Officer – Americas Eastern Region, Marriott International, Inc. |
Stephen Blake Marriott | JWM Family Enterprises, Inc. 9737 Washingtonian Blvd, Suite 404 Gaithersburg, MD 20878 | Graduate Student |
* Director of Marriott International, Inc.
A-1 |
JWM Family Enterprises, Inc.
Name | Business Address | Principal Occupation |
J.W. Marriott, Jr.* | Marriott International, Inc. 10400 Fernwood Road Bethesda, MD 20817 | Executive Chairman and Chairman of the Board, Marriott International, Inc. |
Deborah Marriott Harrison** | Marriott International, Inc. 10400 Fernwood Road Bethesda, MD 20817 | Global Officer, Marriott Culture and Business Councils, Marriott International, Inc. |
John W. Marriott III** | JWM Family Enterprises, Inc. 9737 Washingtonian Blvd, Suite 404 Gaithersburg, MD 20878 | Consultant, JWM Family Enterprises, Inc. |
David Sheets Marriott** | Marriott International, Inc. 10400 Fernwood Road Bethesda, MD 20817 | Chief Operations Officer – Americas Eastern Region, Marriott International, Inc. |
Stephen Blake Marriott** | JWM Family Enterprises, Inc. 9737 Washingtonian Blvd, Suite 404 Gaithersburg, MD 20878 | Graduate Student |
Richard L. Braunstein** | 4310 42nd Street, N.W. Washington, DC 20016 | Retired |
Jeffrey Kurzweil** | Venable LLP 575 7th Street, NW Washington, DC 20004 | Partner, Venable LLP |
William J. Shaw** | Marriott Vacations Worldwide Corp. 6649 Westwood Blvd., Suite 500 Orlando, FL 32821 | Chairman of the Board, Marriott Vacations Worldwide Corporation |
Kevin M. Kimball | JWM Family Enterprises, Inc. 9737 Washingtonian Blvd, Suite 404 Gaithersburg, MD 20878
| President and CEO of JWM Family Enterprises, Inc.
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* Chairman of the Board of Directors of JWM Family Enterprises, Inc.
** Director of JWM Family Enterprises, Inc.
A-2 |