SEC Info - Cohen Steven A/Sac Capital Mgmt LP, et al. - ‘5’ for 12/31/07 re: Wci Communities Inc.

FORM 5

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

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Form 3 Holdings Reported.

Form 4 Transactions Reported.

1. Name and Address of Reporting Person^*

SAC CAPITAL ADVISORS LLC

(Last)

(First)

(Middle)

72 CUMMINGS POINT ROAD

(Street)

STAMFORD

06902

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
WCI COMMUNITIES INC [ WCI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
See Remarks and Footnote (1)

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/07

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	12/10/07		X/K4 ⁽³⁾	200	D	$5.55	4,011,800	I ⁽¹⁾	See Footnote ⁽¹⁾
Common Stock	12/10/07		J/K4 ⁽³⁾	200	A	$4.72	4,012,000	I ⁽¹⁾	See Footnote ⁽¹⁾
Common Stock	12/11/07		X/K4 ⁽⁴⁾	400	D	$5.55	4,011,600	I ⁽¹⁾	See Footnote ⁽¹⁾
Common Stock	12/11/07		J/K4 ⁽⁴⁾	400	A	$4.42	4,012,000	I ⁽¹⁾	See Footnote ⁽¹⁾
Common Stock	2/4/08		X/K4 ⁽⁸⁾	100	A	$5.83	4,012,100	I ⁽¹⁾	See Footnote ⁽¹⁾
Common Stock	2/4/08		J/K4 ⁽⁸⁾	100	D	$4.56	4,012,000	I ⁽¹⁾	See Footnote ⁽¹⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Equity Swap (obligation to sell)	$5.55	11/2/07		4J ⁽²⁾	600		11/2/07	3/18/08	Common Stock	600	600	600	I ⁽¹⁾	See Footnote ⁽¹⁾
Equity Swap (obligation to sell)	$5.55	12/10/07		4X ⁽³⁾		200	11/2/07	3/18/08	Common Stock	200	200	400	I ⁽¹⁾	See Footnote ⁽¹⁾
Equity Swap (obligation to sell)	$5.55	12/11/07		4X ⁽⁴⁾		400	11/2/07	3/18/08	Common Stock	400	400	0	I ⁽¹⁾	See Footnote ⁽¹⁾
Equity Swap (obligation to buy)	$5.83	1/31/08		4J ⁽⁵⁾	400		1/31/08	2/4/09	Common Stock	400	400	400	I ⁽¹⁾	See Footnote ⁽¹⁾
Equity Swap (obligation to buy)	$5.16	2/1/08		4J ⁽⁶⁾	200		2/1/08	2/4/09	Common Stock	200	200	200	I ⁽¹⁾	See Footnote ⁽¹⁾
Equity Swap (obligation to buy)	$4.71	2/4/08		4J ⁽⁷⁾	600		2/4/08	2/4/09	Common Stock	600	600	600	I ⁽¹⁾	See Footnote ⁽¹⁾
Equity Swap (obligation to buy)	$5.83	2/4/08		4X ⁽⁸⁾		100	1/31/08	2/4/09	Common Stock	100	100	300	I ⁽¹⁾	See Footnote ⁽¹⁾

1. Name and Address of Reporting Person^*

SAC CAPITAL ADVISORS LLC

(Last)

(First)

(Middle)

72 CUMMINGS POINT ROAD

(Street)

STAMFORD

06902

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

S A C CAPITAL MANAGEMENT L L C

(Last)

(First)

(Middle)

540 MADISON AVENUE

(Street)

NEW YORK

10022

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

COHEN STEVEN A/SAC CAPITAL MGMT LP

(Last)

(First)

(Middle)

72 CUMMINGS POINT ROAD

(Street)

STAMFORD

06902

(City)

(State)

(Zip)

Explanation of Responses:

(1) Please see note 1 on Exhibit 99.1

(2) Please see note 2 on Exhibit 99.1

(3) Please see note 3 on Exhibit 99.1

(4) Please see note 4 on Exhibit 99.1

(5) Please see note 5 on Exhibit 99.1

(6) Please see note 6 on Exhibit 99.1

(7) Please see note 7 on Exhibit 99.1

(8) Please see note 8 on Exhibit 99.1

Remarks:

As described in the reports on Schedule 13D filed with the Securities and Exchange Commission by the Reporting Persons and S.A.C. Capital Associates, LLC ("SAC Associates") with respect to the Issuer's securities, Craig W. Thomas is a portfolio manager at S.A.C. Capital Advisors, LLC ("SAC Advisors") and was, at the time of the transactions reported herein, a director of the Issuer. Exhibit List Exhibit 99.1 - Explanation of Responses Exhibit 99.2 - Joint Filer Information

	/s/ Peter Nussbaum, as Authorized Person on behalf of the folowing: S.A.C. CAPITAL ADVISORS, LLC, S.A.C. CAPITAL MANAGEMENT, LLC, STEVEN A. COHEN	2/14/08
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

____________ Transaction Codes:
J	Other acquisition or disposition.
X	Exercise of in-the-money or at-the-money derivative security.
K	An equity swap was involved.
4	A Form 4 Transaction.

Cohen Steven A/Sac Capital Mgmt LP, et al. – ‘5’ for 12/31/07 re: Wci Communities Inc.

On: Thursday, 2/14/08, at 4:03pm ET · For: 12/31/07 · As: Director and Other · Accession #: 899140-8-562 · File #: 1-31255

Annual Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 5 — SEA’34
Filing Table of Contents

‘5’ — Annual Statement of Changes in Beneficial Ownership of Securities by an Insider — saccadv_wci5-021408ex.xml/2.2

This ‘5’ Document is an XML Data File that may be rendered in various formats:

Cohen Steven A/Sac Capital Mgmt LP, et al. – ‘5’ for 12/31/07 re: Wci Communities Inc.

On: Thursday, 2/14/08, at 4:03pm ET · For: 12/31/07 · As: Director and Other · Accession #: 899140-8-562 · File #: 1-31255

Annual Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 5 — SEA’34Filing Table of Contents

‘5’ — Annual Statement of Changes in Beneficial Ownership of Securities by an Insider — saccadv_wci5-021408ex.xml/2.2

This ‘5’ Document is an XML Data File that may be rendered in various formats:

Annual Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 5 — SEA’34
Filing Table of Contents