Smith Thomas W, et al. – ‘SC 13D/A’ on 5/17/04 re: Vertrue Inc

On:  Monday, 5/17/04, at 7:03pm ET   ·   As of:  5/18/04   ·   Accession #:  1169232-4-3005   ·   File #:  5-47315

in

this entire Filing. an “Entity” Search.

Show

Documents searched

and

each “hit”. the 1st “hit”.

↓↑Hints

Amendment to General Statement of Beneficial Ownership   —   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Amendment to General Statement of Beneficial           9     39K 
                          Ownership                                              
 2: EX-1        Joint Filing Agreement                                 1      6K 

SC 13D/A   —   Amendment to General Statement of Beneficial Ownership
Document Table of Contents

SC 13D/A
1st Page of 9
TOC
↑Top
Previous
Next
↓Bottom
Just 1st
 
                                                                    Page 1 of 10

--------------------------------                                                
OMB APPROVAL                                                                    
--------------------------------                                                
OMB Number: 3235-0145                                                           
--------------------------------                                                
Expires: December 31, 2005                                                      
--------------------------------                                                
Estimated average burden                                                        
hours per response. . . 11                                                      
--------------------------------                                                

 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
 Under the Securities Exchange Act of 1934
(Amendment No. 1)*

Memberworks Incorporated
(Name of Issuer)

Common Stock, $.01 par value
(Title of Class of Securities)

 586002 10 7
(CUSIP Number)

 Thomas W. Smith
 323 Railroad Avenue
 Greenwich, CT 06830
(203) 661-1200
 (Name, Address and Telephone Number of Person
 Authorized to Receive Notices and Communications)

 N/A
 (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 ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the 
following box. |_|                                                              

* 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).                                                                         

SC 13D/A
2nd Page of 9
TOC
1st
Previous
Next
↓Bottom
Just 2nd
CUSIP No. 586002 10 7                                              Page 2 of 10 

--------------------------------------------------------------------------------
1    NAME OF REPORTING PERSON                                                   
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON                    

Thomas W. Smith                                                       
--------------------------------------------------------------------------------
2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                          
                                                          (a)  |_|
                                                          (b)  |X|
--------------------------------------------------------------------------------
3    SEC USE ONLY                                                               

--------------------------------------------------------------------------------
4    SOURCE OF FUNDS*                                                           

PF and OO (Funds of Managed Accounts)                                 
--------------------------------------------------------------------------------
5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED                   
PURSUANT TO ITEMS 2(d) OR 2(e)                                   |_|  

Not Applicable                                                        
--------------------------------------------------------------------------------
6    CITIZENSHIP OR PLACE OF ORGANIZATION                                       

United States                                                         
--------------------------------------------------------------------------------
7    SOLE VOTING POWER                            

800,850                                 
               -----------------------------------------------------------------
NUMBER OF    8    SHARED VOTING POWER                                       
SHARES                                                                    
BENEFICIALLY        1,370,700                                                   
  OWNED BY     -----------------------------------------------------------------
EACH       9    SOLE DISPOSITIVE POWER                                  
REPORTING                                                                   
PERSON           882,893                                                  
    WITH       -----------------------------------------------------------------
10   SHARED DISPOSITIVE POWER                     

1,370,700                               
--------------------------------------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON               

2,253,593                                                             
--------------------------------------------------------------------------------
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)                         

21.8%                                                               
--------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON*                                                  

IN                                                                    
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! 

SC 13D/A
3rd Page of 9
TOC
1st
Previous
Next
↓Bottom
Just 3rd
CUSIP No. 586002 10 7                                              Page 3 of 10 

--------------------------------------------------------------------------------
1    NAME OF REPORTING PERSON                                                   
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON                    

Thomas N. Tryforos                                                    
--------------------------------------------------------------------------------
2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                          
                                                          (a)  |_|
                                                          (b)  |X|
--------------------------------------------------------------------------------
3    SEC USE ONLY                                                               

--------------------------------------------------------------------------------
4    SOURCE OF FUNDS*                                                           

PF and OO (Funds of Managed Accounts)                                 
--------------------------------------------------------------------------------
5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED                   
PURSUANT TO ITEMS 2(d) OR 2(e)                                   |_|  

Not Applicable                                                        
--------------------------------------------------------------------------------
6    CITIZENSHIP OR PLACE OF ORGANIZATION                                       

United States                                                         
--------------------------------------------------------------------------------
7    SOLE VOTING POWER                            

60,608                                  
               -----------------------------------------------------------------
NUMBER OF    8    SHARED VOTING POWER                                       
SHARES                                                                    
BENEFICIALLY        1,355,700                                                   
  OWNED BY     -----------------------------------------------------------------
EACH       9    SOLE DISPOSITIVE POWER                                  
REPORTING                                                                   
PERSON           71,820                                                   
    WITH       -----------------------------------------------------------------
10   SHARED DISPOSITIVE POWER                     

1,355,700                               
--------------------------------------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON               

1,427,520                                                             
--------------------------------------------------------------------------------
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)                         

13.8%                                                                 
--------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON*                                                  

IN                                                                    
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! 

SC 13D/A
4th Page of 9
TOC
1st
Previous
Next
↓Bottom
Just 4th
CUSIP No. 586002 10 7                                              Page 4 of 10 

--------------------------------------------------------------------------------
1    NAME OF REPORTING PERSON                                                   
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON                    

Scott J. Vassalluzzo                                                  
--------------------------------------------------------------------------------
2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                          
                                                          (a)  |_|
                                                          (b)  |X|
--------------------------------------------------------------------------------
3    SEC USE ONLY                                                               

--------------------------------------------------------------------------------
4    SOURCE OF FUNDS*                                                           

PF and OO (Funds of Managed Accounts)                                 
--------------------------------------------------------------------------------
5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED                   
PURSUANT TO ITEMS 2(d) OR 2(e)                                   |_|  

Not Applicable                                                        
--------------------------------------------------------------------------------
6    CITIZENSHIP OR PLACE OF ORGANIZATION                                       

United States                                                         
--------------------------------------------------------------------------------
7    SOLE VOTING POWER                            

15,060                                  
               -----------------------------------------------------------------
NUMBER OF    8    SHARED VOTING POWER                                       
SHARES                                                                    
BENEFICIALLY        1,355,700                                                   
  OWNED BY     -----------------------------------------------------------------
EACH       9    SOLE DISPOSITIVE POWER                                  
REPORTING                                                                   
PERSON           75,060                                                   
    WITH       -----------------------------------------------------------------
10   SHARED DISPOSITIVE POWER                     

1,355,700                               
--------------------------------------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON               

1,430,760                                                             
--------------------------------------------------------------------------------
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)                         

13.8%                                                                 
--------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON*                                                  

IN                                                                    
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! 

SC 13D/A
5th Page of 9
TOC
1st
Previous
Next
↓Bottom
Just 5th
CUSIP No. 586002 10 7                                              Page 5 of 10 

--------------------------------------------------------------------------------
1    NAME OF REPORTING PERSON                                                   
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON                    

Daniel J. Englander                                                   
--------------------------------------------------------------------------------
2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                          
                                                          (a)  |_|
                                                          (b)  |X|
--------------------------------------------------------------------------------
3    SEC USE ONLY                                                               

--------------------------------------------------------------------------------
4    SOURCE OF FUNDS*                                                           

OO (Funds of Managed Accounts)                                        
--------------------------------------------------------------------------------
5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED                   
PURSUANT TO ITEMS 2(d) OR 2(e)                                   |_|  

Not Applicable                                                        
--------------------------------------------------------------------------------
6    CITIZENSHIP OR PLACE OF ORGANIZATION                                       

United States                                                         
--------------------------------------------------------------------------------
7    SOLE VOTING POWER                            

0                                       
               -----------------------------------------------------------------
NUMBER OF    8    SHARED VOTING POWER                                       
SHARES                                                                    
BENEFICIALLY        15,000                                                      
  OWNED BY     -----------------------------------------------------------------
EACH       9    SOLE DISPOSITIVE POWER                                  
REPORTING                                                                   
PERSON           0                                                        
    WITH       -----------------------------------------------------------------
10   SHARED DISPOSITIVE POWER                     

15,000                                  
--------------------------------------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON               

15,000                                                                
--------------------------------------------------------------------------------
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)                         

0.1%                                                                  
--------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON*                                                  

IN                                                                    
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! 

SC 13D/A
6th Page of 9
TOC
1st
Previous
Next
↓Bottom
Just 6th
                                                                    Page 6 of 10

Explanatory Note:                                                               

The following constitutes Amendment No. 1 ("Amendment") to the joint
filing on Schedule 13D made by Thomas W. Smith, Thomas N. Tryforos and Scott J. 
Vassalluzzo with the Securities and Exchange Commission on November 23, 2003    
(the "Original Schedule 13D") relating to the common stock, par value $.01 per  
share ("Common Stock") of Memberworks Incorporated, a Delaware corporation. The 
Original Schedule 13D is being filed to add Daniel J. Englander as a joint      
filer. Mr. Englander is joining this filing on a voluntary basis and disclaims  
membership in any "group" for purposes of Section 13(d)(3) of the Securities    
Exchange Act of 1934, as amended, or for any other purpose.                     

    The Original Schedule 13D is hereby amended and restated in its entirety
as follows:                                                                     

Item 1. Security and Issuer                                                     

   This statement relates to the common stock, $.01 par value (the "Common
Stock") of Memberworks Incorporated, a Delaware corporation whose principal     
executive offices are located at 9 West Broad Street, Stamford, CT 06902.       

Item 2. Identity and Background                                                 

   (a) - (f) This statement is filed jointly by Thomas W. Smith, Thomas N.
Tryforos, Scott J. Vassalluzzo and Daniel J. Englander (the "Reporting          
Persons"), each of whom is a private investment manager with a business address 
located at 323 Railroad Avenue, Greenwich, Connecticut 06830. The filing of this
statement shall not be deemed to be an admission that the Reporting Persons     
comprise a "group" within the meaning of Section 13(d)(3) of the Securities     
Exchange Act of 1934, as amended. The Reporting Persons each disclaim beneficial
ownership of the shares reported in this Schedule 13D in excess of those shares 
as to which they have or share voting or investment authority.                  

   During the last five years, no Reporting Person has been convicted in a
criminal proceeding (excluding traffic violations and similar misdemeanors) nor 
has any Reporting Person been a party to a civil proceeding of a judicial or    
administrative body of competent jurisdiction and as a result of such proceeding
was or is subject to a 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.       

Each of the Reporting Persons is a citizen of the United States.    

Item 3. Source and Amount of Funds or Other Consideration                       

  In order to fund the purchase of the Common Stock reported herein, the
Managed Accounts (as hereinafter defined) contributed in the aggregate          
$43,114,147, Mr. Smith contributed $14,343,633 of his personal funds, Mr.       
Tryforos contributed $1,522,659 of his personal funds and Mr. Vassalluzzo       
contributed $241,637 of his personal funds.                                     

SC 13D/A
7th Page of 9
TOC
1st
Previous
Next
↓Bottom
Just 7th
                                                                    Page 7 of 10

Item 4. Purpose of Transaction                                                  

As described more fully in Item 5 below, Messrs. Smith, Tryforos,   
Vassalluzzo and Englander beneficially own 1,510,193, 1,366,912, 1,415,760 and  
15,000 shares of Common Stock, respectively, in their capacity as investment    
managers for certain managed accounts (the "Managed Accounts"). The Managed     
Accounts consist of investment accounts for: (i) three private investment       
limited partnerships for which Messrs. Smith, Tryforos and Vassalluzzo are each 
a general partner, (ii) one private investment limited partnership for which    
Messrs. Smith and Englander are each a general partner, (iii) an employee       
profit-sharing plan of a corporation wholly-owned by Messrs. Smith and Tryforos 
(for which each of Messrs. Smith, Tryforos and Vassalluzzo is a trustee), (iv)  
certain friends and family members of Messrs Smith, Tryforos and Vassalluzzo    
(including trusts established for the benefit of certain family members of Mr.  
Smith), (v) a private charitable foundation established by Mr. Smith (for which 
Mr. Smith acts as trustee), and (vi) a private investment limited partnership   
(for which Mr. Smith is the general partner). In addition, Messrs. Smith,       
Tryforos and Vassalluzzo each own Common Stock for their own accounts in the    
amounts of 743,400, 60,608 and 15,060 shares, respectively (collectively, the   
"Personal Shares"). The 1,581,405 shares of Common Stock owned by the Managed   
Accounts (the "Managed Account Shares") were acquired by the Reporting Persons  
on behalf of the Managed Accounts for the purpose of achieving the investment   
policies of the Managed Accounts. The Reporting Persons acquired the Personal   
Shares for investment purposes. Based upon market conditions, an evaluation of  
alternative investments and such other factors as may be considered relevant    
from time to time, each Reporting Person may purchase or sell shares on behalf  
of the Managed Accounts, other managed accounts, or for his own account, if he  
deems it appropriate and is able to do so, in each case, on such terms and at   
such times as such Reporting Person considers desirable. Subject to the         
foregoing, none of the Reporting Persons has any present plan or proposal which 
relates to or would result in any of the actions or events enumerated in clauses
(a) through (j) of Item 4 of Schedule 13D.                                      

Item 5. Interest in Securities of the Issuer                                    

(a) The aggregate number and percentage of shares of Common Stock   
beneficially owned by each of the Reporting Persons (based on information       
included in the Registration Statement on Form 10-Q filed by the Issuer on      
February 9, 2004, which disclosed that 10,335,240 shares of Common Stock were   
outstanding as of January 23, 2004) is as follows: Mr. Smith - 2,253,593 shares 
(21.8%); Mr. Tryforos - 1,427,520 shares (13.8%); Mr. Vassalluzzo - 1,430,760   
(13.8%) and Mr. Englander - 15,000 (0.1%).                                      

      (b) Messrs. Smith, Tryforos and Vassalluzzo have the sole power to vote or
to direct the vote of 800,850, 60,608 and 15,060 shares of Common Stock,        
respectively, and to dispose or to direct the disposition of 882,893, 71,820 and
75,060 shares of Common Stock, respectively. Mr. Englander does not have the    
sole power to vote or to direct the vote or dispose or direct the disposition of
any shares of Common Stock. Of the 1,581,405 shares of Common Stock owned by the
Managed Accounts, Messrs. Smith, Tryforos and Vassalluzzo share the power to    
vote or to direct the vote of and to dispose or to direct the disposition of    
1,355,700 shares and Messrs. Smith and Englander share the power to vote or to  
direct the vote of and to dispose or to direct the disposition 15,000 shares.   

SC 13D/A
8th Page of 9
TOC
1st
Previous
Next
↓Bottom
Just 8th
                                                                    Page 8 of 10

(c) During the sixty (60) days prior to the date of this filing, the
Reporting Persons effected no transactions involving shares of Common Stock,    
except for the following transaction effected by the Managed Accounts:          

Date              Number of Shares          Price Per Share   
----              ----------------          ---------------   

5/03/04                  15,000                    $29.56         

      (d) The Managed Accounts have the right to receive dividends from, and the
proceeds from the sale of, the Managed Account Shares.                          

(e) Not applicable.                                                 

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

   With respect to Managed Accounts established for the benefit of certain
family members and friends of the Reporting Persons, the voting and investment  
authority accorded the Reporting Persons is subject to each beneficiary's       
ability, if so provided, to terminate or otherwise direct the disposition of the
Managed Account. Except as disclosed in the preceding sentence or otherwise set 
forth herein, there are no contracts, arrangements, understandings or           
relationships (legal or otherwise) among any of the Reporting Persons and any   
other person with respect to any securities of the Issuer, including any        
contract, arrangement, understanding or relationship concerning the transfer or 
the voting of any securities of the Issuer, or any finder's fees, joint         
ventures, loan or option arrangements, puts or calls, guarantees of profits,    
division of profits or loss, or the giving or withholding of proxies.           

Item 7. Material to Be Filed as Exhibits                                        

  1. Agreement relating to the joint filing of Statement on Schedule 13D
dated May 17, 2004.                                                             

SC 13D/A
Last Page of 9
TOC
1st
Previous
Next
↓Bottom
Just 9th
                                                                    Page 9 of 10

 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.                                                                        

Date: May 17, 2004                                                  

                           /s/ Thomas W. Smith
                                 -----------------------------------
                               Thomas W. Smith

                              /s/ Thomas N. Tryforos
                                 -----------------------------------
                                  Thomas N. Tryforos

                                /s/ Scott J. Vassalluzzo
                                 -----------------------------------
                                    Scott J. Vassalluzzo

                               /s/ Daniel J. Englander
                                 -----------------------------------
                                   Daniel J. Englander

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘SC 13D/A’ Filing		Date		First		Last			Other Filings
		12/31/05		1					10-Q,  13F-HR
Filed as of:		5/18/04							4,  SC 13G/A
Filed on:		5/17/04		8		9			13F-HR,  SC 13G/A
		2/9/04		7					10-Q,  SC 13G/A
		1/23/04		7					4
		11/23/03		6
									List all Filings