UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of
1934
(Amendment No. )*
ingersoll-rand PLC
(Name of Issuer)
Ordinary Shares, $1.00 par value
(Title of Class of Securities)
G47791101
(CUSIP Number)
Brian L. Schorr, Esq. Trian Fund Management, L.P. 280 Park Avenue, 41st Floor New York, New York 10017 Tel. No.:(212) 451-3000 |
Debra Smith California State Teachers’ Retirement System 100 Waterfront Place, MS 04 West Sacramento, CA 95605 Tel. No.: (916) 414-7551
|
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 1, 2012
(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 which 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 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).
1 |
NAME OF REPORTING PERSON Nelson Peltz |
|||
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 ITEMS 2(d) or 2(e) | [_] | ||
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION United States |
|||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 |
SOLE VOTING POWER 0 |
||
8 |
SHARED VOTING POWER 21,072,305 |
|||
9 |
SOLE DISPOSITIVE POWER 0 |
|||
10 |
SHARED DISPOSITIVE POWER 21,072,305 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 21,072,305 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [x] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.05%* |
|||
14 |
TYPE OF REPORTING PERSON IN |
|||
_______
*Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2012 (the “Form 10-Q”).
2
1 |
NAME OF REPORTING PERSON Peter W. May |
|||
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 ITEMS 2(d) or 2(e) | [_] | ||
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION United States |
|||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 |
SOLE VOTING POWER 0 |
||
8 |
SHARED VOTING POWER 21,072,305 |
|||
9 |
SOLE DISPOSITIVE POWER 0 |
|||
10 |
SHARED DISPOSITIVE POWER 21,072,305 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 21,072,305 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [x] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.05%* |
|||
14 |
TYPE OF REPORTING PERSON IN |
|||
_______
* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.
3
1 |
NAME OF REPORTING PERSON Edward P. Garden |
|||
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 ITEMS 2(d) or 2(e) | [_] | ||
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION United States |
|||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 |
SOLE VOTING POWER 0 |
||
8 |
SHARED VOTING POWER 21,072,305 |
|||
9 |
SOLE DISPOSITIVE POWER 0 |
|||
10 |
SHARED DISPOSITIVE POWER 21,072,305 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 21,072,305 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [x] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.05%* |
|||
14 |
TYPE OF REPORTING PERSON IN |
|||
_______
* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.
4
1 |
NAME OF REPORTING PERSON Trian Fund Management, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 20-3454182 |
|||
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 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 21,072,305 |
|||
9 |
SOLE DISPOSITIVE POWER 0 |
|||
10 |
SHARED DISPOSITIVE POWER 21,072,305 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 21,072,305 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [x] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.05%* |
|||
14 |
TYPE OF REPORTING PERSON PN |
|||
_______
*Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.
5
1 |
NAME OF REPORTING PERSON Trian Fund Management GP, LLC S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 20-3454087 |
|||
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 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 21,072,305 |
|||
9 |
SOLE DISPOSITIVE POWER 0 |
|||
10 |
SHARED DISPOSITIVE POWER 21,072,305 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 21,072,305 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [x] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.05%* |
|||
14 |
TYPE OF REPORTING PERSON OO |
|||
_______
* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.
6
1 |
NAME OF REPORTING PERSON Trian Partners Master Fund (ERISA), L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 98-0682467 |
|||
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 ITEMS 2(d) or 2(e) | [_] | ||
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands |
|||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 |
SOLE VOTING POWER 0 |
||
8 |
SHARED VOTING POWER 199,908 |
|||
9 |
SOLE DISPOSITIVE POWER 0 |
|||
10 |
SHARED DISPOSITIVE POWER 199,908 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 199,908 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [X] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.07%* |
|||
14 |
TYPE OF REPORTING PERSON PN |
|||
_______
* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.
.
7
1 |
NAME OF REPORTING PERSON Trian Partners, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 20-3453988 |
|||
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 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 2,298,601 |
|||
9 |
SOLE DISPOSITIVE POWER 0 |
|||
10 |
SHARED DISPOSITIVE POWER 2,298,601 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,298,601 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [X] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.77%* |
|||
14 |
TYPE OF REPORTING PERSON PN |
|||
_______
* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.
8
1 |
NAME OF REPORTING PERSON Trian Partners Master Fund, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 98-0468601 |
|||
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 ITEMS 2(d) or 2(e) | [_] | ||
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands |
|||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 |
SOLE VOTING POWER 0 |
||
8 |
SHARED VOTING POWER 6,670,589 |
|||
9 |
SOLE DISPOSITIVE POWER 0 |
|||
10 |
SHARED DISPOSITIVE POWER 6,670,589 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,670,589 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [X] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.23%* |
|||
14 |
TYPE OF REPORTING PERSON PN |
|||
_______
* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.
9
1 |
NAME OF REPORTING PERSON Trian Partners Parallel Fund I, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 20-3694154 |
|||
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 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 335,832 |
|||
9 |
SOLE DISPOSITIVE POWER 0 |
|||
10 |
SHARED DISPOSITIVE POWER 335,832 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 335,832 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [X] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.11%* |
|||
14 |
TYPE OF REPORTING PERSON PN |
|||
_______
* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.
10
1 |
NAME OF REPORTING PERSON Trian Partners Strategic Investment Fund-A, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 27-4180625 |
|||
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 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 1,268,711 |
|||
9 |
SOLE DISPOSITIVE POWER 0 |
|||
10 |
SHARED DISPOSITIVE POWER 1,268,711 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,268,711 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [X] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.42%* |
|||
14 |
TYPE OF REPORTING PERSON PN |
|||
_______
* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.
11
1 |
NAME OF REPORTING PERSON Trian Partners Strategic Co-Investment Fund-A, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 36-4728074 |
|||
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 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 1,178,550 |
|||
9 |
SOLE DISPOSITIVE POWER 0 |
|||
10 |
SHARED DISPOSITIVE POWER 1,178,550 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,178,550 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [X] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.39%* |
|||
14 |
TYPE OF REPORTING PERSON PN |
|||
_______
* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.
12
1 |
NAME OF REPORTING PERSON Trian Partners Strategic Investment Fund, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 37-1593120 |
|||
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 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 2,958,664 |
|||
9 |
SOLE DISPOSITIVE POWER 0 |
|||
10 |
SHARED DISPOSITIVE POWER 2,958,664 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,958,664 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [X] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.99%* |
|||
14 |
TYPE OF REPORTING PERSON PN |
|||
_______
* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.
13
1 |
NAME OF REPORTING PERSON Trian SPV (SUB) VI, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 98-0644507 |
|||
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 ITEMS 2(d) or 2(e) | [_] | ||
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands |
|||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 |
SOLE VOTING POWER 0 |
||
8 |
SHARED VOTING POWER 1,460,000 |
|||
9 |
SOLE DISPOSITIVE POWER 0 |
|||
10 |
SHARED DISPOSITIVE POWER 1,460,000 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,460,000 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [X] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.49%* |
|||
14 |
TYPE OF REPORTING PERSON PN |
|||
_______
* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.
14
1 |
NAME OF REPORTING PERSON Trian SPV (SUB) VI-A, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 98-1047700 |
|||
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 ITEMS 2(d) or 2(e) | [_] | ||
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands |
|||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 |
SOLE VOTING POWER 0 |
||
8 |
SHARED VOTING POWER 4,701,450 |
|||
9 |
SOLE DISPOSITIVE POWER 0 |
|||
10 |
SHARED DISPOSITIVE POWER 4,701,450 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,701,450 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [X] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.57%* |
|||
14 |
TYPE OF REPORTING PERSON PN |
|||
_____________
* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.
15
1 |
NAME OF REPORTING PERSON California State Teachers’ Retirement System S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-6291617 |
|||
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 ITEMS 2(d) or 2(e) | [_] | ||
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION California Government Pension Plan |
|||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 |
SOLE VOTING POWER 813,101 |
||
8 |
SHARED VOTING POWER 0 |
|||
9 |
SOLE DISPOSITIVE POWER 555,343 |
|||
10 |
SHARED DISPOSITIVE POWER 257,758 |
|||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 813,101 |
|||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [X] | ||
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.27%* |
|||
14 |
TYPE OF REPORTING PERSON EP |
|||
_______
* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.
16
Item 1. Security and Issuer
This Schedule 13D relates to the Ordinary Shares, $1.00 par value per share (the “Shares”), of Ingersoll-Rand plc, an Irish public limited company (the “Issuer”). The address of the principal executive office of the Issuer is 170/175 Lakeview Dr., Airside Business Park, Swords, Co. Dublin, Ireland.
Item 2. Identity and Background
The persons filing this statement are Trian Partners, L.P., a Delaware limited partnership (“Trian Onshore”), Trian Partners Master Fund, L.P., a Cayman Islands limited partnership (“Trian Offshore”), Trian Partners Parallel Fund I, L.P., a Delaware limited partnership (“Parallel Fund I”), Trian Partners Master Fund (ERISA) L.P., a Cayman Islands limited partnership (“Trian ERISA”), Trian Partners Strategic Investment Fund, L.P., a Delaware limited partnership (“TPSIF”), Trian Partners Strategic Investment Fund-A, L.P., a Delaware limited partnership (“Strategic Fund-A”), Trian Partners Strategic Co-Investment Fund-A, L.P., a Delaware limited partnership (“Coinvest Fund-A”), Trian SPV (SUB) VI, L.P., a Cayman Islands limited partnership (“SPV VI”), Trian SPV (SUB) VI-A, L.P., a Cayman Islands limited partnership (“SPV VI-A”), Trian Fund Management, L.P., a Delaware limited partnership (“Trian Management”), and Trian Fund Management GP, LLC, a Delaware limited liability company (“Trian Management GP” and together with the foregoing, the “Trian Entities”), Nelson Peltz, a citizen of the United States of America, Peter W. May, a citizen of the United States of America, and Edward P. Garden, a citizen of the United States of America (the Trian Entities and Messrs. Peltz, May and Garden are sometimes hereinafter referred to collectively as the “Trian Group”). The principal business address and the address of the principal office of each member of the Trian Group is 280 Park Avenue, 41st Floor, New York, New York 10017, except that the principal business address of Trian Offshore, Trian ERISA, SPV VI and SPV VI-A is Gardenia Court, Suite 3307, 45 Market Street, Camana Bay, Grand Cayman, Cayman Islands, KY1-1103.
Trian Management GP is the general partner of Trian Management, which serves as the management company for Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A. Trian Management GP is controlled by Nelson Peltz, Peter W. May and Edward P. Garden, who therefore are in a position to determine the investment and voting decisions made by the Trian Entities.
Each of Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A is primarily engaged in the business of investing in securities. Trian Management is primarily engaged in the business of serving as a management company for the Trian Entities and other funds, accounts and investment vehicles. Trian Management GP is primarily engaged in the business of serving as the general partner of Trian Management.
Nelson Peltz’s present principal occupation or employment is serving as Chief Executive Officer and a founding partner of Trian Management and, as such, managing the investments of Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A and other funds, accounts and investment vehicles managed by Trian Management. Peter W. May’s present principal occupation or employment is serving as President and a founding partner of Trian Management and, as such, managing the investments of Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A and other funds, accounts and investment vehicles managed by Trian Management. Edward P. Garden’s present principal occupation or employment is serving as Chief Investment Officer and a founding partner of Trian Management and, as such, managing the investments of Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A and other funds, accounts and investment vehicles managed by Trian Management.
This Schedule 13D is also being filed by California State Teachers’ Retirement System, a California Government Employee Benefit Plan (“CalSTRS,” along with the Trian Group are sometimes hereinafter referred to collectively as the “Reporting Persons”). The principal business of CalSTRS is to provide retirement related benefits and services to teachers in public schools and community colleges in California. The principal business address for CalSTRS is 100 Waterfront Place, MS 04, West Sacramento, CA 95605.
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CalSTRS and the Trian Group are filing this Schedule 13D jointly due to CalSTRS’ investment in Coinvest Fund-A and CalSTRS beneficial ownership of the CalSTRS Shares (as defined in Item 5).
None of the Reporting Persons, nor any director, executive officer, general partner or controlling person of any of the Reporting Persons, has, during the past five years, (a) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (b) 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 a finding of any violation with respect to such laws.
Each of the Reporting Persons is responsible for the completeness and accuracy of the information concerning him or it contained herein, but is not responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.
Item 3. Source and Amount of Funds or Other Consideration
As of 4:00 p.m., New York City time, on May 8, 2012, the aggregate purchase price of the 14,283,769 Shares (not including those Shares underlying any Options) purchased by the Reporting Persons collectively was $582,195,322 (including commissions). In addition, as of such time and date, Trian Onshore, Trian Offshore and TPSIF beneficially owned, in the aggregate, an additional 7,601,637 Shares, which were acquired through a series of privately negotiated back-to-back call and put transactions with certain financial institutions (the “Options”) and as a result of which Trian Onshore, Trian Offshore and TPSIF are each subject to the same economic gain or loss as if they had purchased the underlying Shares. As of May 8, 2012, these Options had an aggregate strike price of $308,482,572 (See Schedule A hereto for additional detail on the Options). As set forth in Item 5, none of the other Reporting Persons directly own any Shares or Options. The source of funding for the purchase of the Shares was, and the source of funding for the purchase of any additional Shares and Options, the exercise of the Options or the purchase and/or exercise of any additional Options or other derivative securities related to the market price of the Shares acquired in the future is currently expected to be, the respective general working capital of the purchasers.
Item 4. Purpose of Transaction
The Trian Group acquired the Shares because they believe that the Shares are currently undervalued in the market place and represent an attractive investment opportunity. CalSTRS acquired the Shares pursuant to the exercise of discretion by external managers over accounts that they manage for CalSTRS and for purposes of an internally managed and held index fund. The Trian Group intends to meet and have conversations with members of the Board and senior management of the Issuer to discuss the Issuer’s business and strategies to enhance value for the Issuer’s shareholders. During these discussions, the Trian Group intends to communicate its view that while the Issuer has an attractive collection of businesses, total shareholder returns and profitability have lagged peers, and that there is an opportunity to enhance shareholder value by improving certain key financial, operational, compensation and corporate governance metrics and by considering various strategic alternatives, including a restructuring of its key business segments. The Trian Group also looks forward to working constructively with the Issuer on various initiatives, such as enhancing operating margins to levels comparable to those achieved in peer businesses, considering the use of prudent amounts of leverage to increase the size of the Issuer’s stock repurchase program and taking additional steps to better align management compensation with the Issuer’s performance in order to enhance shareholder value and improving the Issuer’s corporate governance profile, including through the addition of several new independent directors to the Issuer’s Board of Directors.
The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer’s financial position, results and strategic direction, price levels of the Shares, the Issuer’s response to the matters to be discussed with the Reporting Persons, actions taken by management and the Board of Directors of the Issuer, other investment opportunities available to the Reporting Persons, conditions in the securities and capital markets, and general economic
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and industry conditions, the Reporting Persons may, from time to time and at any time, in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, but not limited to: communicating with management, the Board, other stockholders, industry participants and other interested or relevant parties about the Issuer and about various other matters, including the operations, business, strategic plans, assets and capital structure of the Issuer or one or more of the other items described in subparagraphs (a)-(j) of Item 4 of Schedule 13D; requesting or proposing one or more nominees for election or appointment to the Board of Directors of the Issuer; purchasing additional securities of the Issuer in the open market or otherwise; entering into financial instruments or other agreements that increase or decrease the Reporting Persons’ economic exposure with respect to their investment in the Issuer; and/or engaging in any hedging or similar transactions with respect to such holdings. The Reporting Persons reserve the right to sell some or all of the Reporting Persons’ respective holdings in the Issuer in the open market or otherwise, at any time and from time to time, and/or to otherwise change their intention with respect to any and all matters referred to in Item 4 of Schedule 13D.
The Reporting Persons do not have any present plan or proposal that would relate to or result in any of the matters set forth in subparagraphs (a) –(j) of Item 4 of Schedule 13D, except as set forth herein or such as would occur upon completion of any of the actions discussed herein.
Item 5. Interest in Securities of the Issuer
(a) As of 4:00 pm, New York City time, on May 8, 2012, the Reporting Persons beneficially owned, in the aggregate, 21,885,406 Shares, representing approximately 7.33% of the Issuer’s outstanding Shares (calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2012 (the “Form 10-Q”)). Such Shares include an aggregate of 14,283,769 Shares beneficially owned by the Reporting Persons through direct ownership of the Shares representing approximately 4.78% of the Issuer’s outstanding Shares, and an additional 7,601,637 Shares underlying the Options that are held by Trian Onshore, Trian Offshore and TPSIF representing approximately 2.54% of the Issuer’s outstanding Shares.
(b) Each of Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A beneficially and directly owns and has sole voting power and sole dispositive power with regard to: 2,298,601; 6,670,589; 335,832; 199,908; 2,958,664; 1,268,711; 1,178,550; 1,460,000; and 4,701,450 Shares (including the Shares underlying the Options), respectively, except to the extent that other Reporting Persons as described below may be deemed to have shared voting power and shared dispositive power with regard to such Shares.
Each of Trian Management, Trian Management GP, Nelson Peltz, Peter W. May and Edward P. Garden, by virtue of their relationships to Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A (discussed in Item 2), may be deemed to have shared voting power and shared dispositive power with regard to, and therefore may be deemed to beneficially own (as that term is defined in Rule 13d-3), the Shares (including Shares underlying the Options) that Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A directly and beneficially own. Each of Trian Management, Trian Management GP, Nelson Peltz, Peter W. May and Edward P. Garden disclaims beneficial ownership of such Shares for all other purposes.
CalSTRS has the sole power to vote or direct the vote of 813,101 Shares (the “CalSTRS Shares”) and the sole power to dispose of or direct the disposition of 555,343 of the CalSTRS Shares. With respect to the other 257,758 CalSTRS Shares, the power to dispose or to direct the disposition of such Shares is shared with certain of its external managers, as follows: (i) 222,884 CalSTRS Shares with BlackRock Institutional Trust Company, N.A, and (ii) 34,874 CalSTRS Shares with State Street Bank and Trust Company.
CalSTRS has been informed by BlackRock Institutional Trust Company, N.A. (“BlackRock”) that its principal business is to provide diversified investment management and securities lending services to institutional clients, intermediary and individual investors through various investment vehicles and that its business address is 400 Howard Street, San Francisco, CA 94105. In addition, BlackRock has further
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informed CalSTRS that on March 8, 2012, BlackRock entered into an Offer of Settlement (the "Agreement") with the Commodity Futures Trading Commission (CFTC) and consented to the entry of an Order, which makes findings and imposes remedial sanctions against BlackRock. Without admitting or denying wrongdoing, BlackRock agreed to the imposition of a $250,000 penalty and the entry of the Order to resolve allegations by the CFTC that two trades by BlackRock violated Section 4c(a)(1) of the Commodity Exchange Act and CFTC Regulation 1.38(a). Blackrock also agreed to refrain from any further violations of the above-mentioned statutory provisions. The CFTC did not allege, nor find, that any clients of BlackRock or any related affiliate were harmed in any way. Other than the Agreement, during the last five years, BlackRock has not been (i) convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or (ii) a party to any other civil proceeding of a judicial or administrative body of competent jurisdiction, and as a result of such proceeding, was or is the 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.
CalSTRS has been informed by State Street Bank and Trust Company (State Street) that its principal business is to provide a broad range of financial products and services to institutional investors worldwide, including its transition management services. Its principal business address is 1 Lincoln Street, Boston, MA 02111. CalSTRS has been further informed by State Street Bank and Trust Company that on February 4, 2010, the U.S. Securities and Exchange Commission (SEC) issued an administrative order in which it ordered State Street to cease and desist from committing or causing any violations, and any future violations of Section 17(a)(2) and Section 17(a)(3) of the Securities Act of 1933. The order was entered in connection with the resolution of the SEC’s investigation into losses incurred by and disclosures made around certain active fixed-income strategies managed by State Street Global Advisors (SSgA) during 2007 and earlier periods. In reaching these settlements, State Street neither admitted nor denied the allegations made by the SEC. Other than the Order, during the last five years, State Street Bank and Trust Company has not been (i) convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or (ii) a party to any other civil proceeding of a judicial or administrative body of competent jurisdiction, and as a result of such proceeding, was or is the 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.
The Trian Group does not have the right to vote or dispose of any of the CalSTRS Shares, nor is any member of the Trian Group a party to any contracts, arrangements or understandings with respect to such Shares. As a result, each member of the Trian Group disclaims beneficial ownership of the CalSTRS Shares for all purposes.
(c) Schedule A hereto (which is incorporated by reference in this Item 5 as if restated in full herein) sets forth all transactions with respect to the Shares effected during the past sixty (60) days by any of the Reporting Persons, inclusive of the transactions effected through 4:00 pm, New York City time, on May 8, 2012.
(d) No person other than the Trian Group 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 beneficially owned by the Trian Group. Except with respect to the 257,758 CalSTRS Shares it beneficially owned in accounts managed by external managers as disclosed in (b) above, 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 covered by this statement beneficially owned by CalSTRS.
Item 6. Contracts, Arrangements, Understandings or Relationship with Respect to Securities of the Issuer
In addition to the Options referenced in Item 3 above, the Reporting Persons may from time to time enter into and dispose of additional Options or other similar derivative transactions with one or more counterparties that are based upon the value of the Shares, which transactions could be significant in amount. The profit, loss and/or return on such additional contracts may be wholly or partially dependent on the market value of the Shares, relative value of the Shares in comparison to one or more other financial
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instruments, indexes or securities, a basket or group of securities in which the Shares may be included or a combination of any of the foregoing.
Trian Partners SPV VI GP, L.P. (“Trian SPV VI GP”) is the Managing General Partner and Trian Partners Cayman, Ltd. is the Administrative General Partner of SPV VI pursuant to the Third Amended and Restated Limited Partnership Agreement of Trian SPV (SUB) VI, L.P., dated March 29, 2012 (the “Trian SPV VI Partnership Agreement”). The sole Limited Partner is Trian SPV VI, L.P. Pursuant to the Trian SPV VI Partnership Agreement, Trian SPV VI GP is entitled to a portion of the appreciation in the value of the Shares. The foregoing description of the Trian SPV VI Partnership Agreement is a summary only and is qualified in its entirety by reference to the Trian SPV VI Partnership Agreement, which is filed as Exhibit 2 hereto and incorporated herein by reference.
Trian Partners SPV VI-A GP, L.P. (“Trian SPV VI-A GP”) is the Managing General Partner and Trian Partners Cayman, Ltd. is the Administrative General Partner of SPV VI-A pursuant to the Amended and Restated Limited Partnership Agreement of Trian SPV (SUB) VI-A, L.P., dated April 30,2012 (the “Trian SPV VI-A Partnership Agreement”). The sole Limited Partner is Trian SPV VI-A, L.P. Pursuant to the Trian SPV VI-A Partnership Agreement, Trian SPV VI-A GP is entitled to a portion of the appreciation in the value of the Shares. The foregoing description of the Trian SPV VI-A Partnership Agreement is a summary only and is qualified in its entirety by reference to the Trian SPV VI-A Partnership Agreement, which is filed as Exhibit 3 hereto and incorporated herein by reference.
Except as described herein (including, without limitation, Items 3 and 4 above, which are incorporated by reference in this Item 6 as if restated in full herein), none of the Reporting Persons has any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the Issuer, including but not limited to the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies.
Item 7. Material to be Filed as Exhibits
1. | Joint Filing Agreement of the Reporting Persons. | |
2. | The Third Amended and Restated Limited Partnership Agreement of Trian SPV (SUB) VI, L.P., dated March 29, 2012. |
3. | Amended and Restated Limited Partnership Agreement of Trian SPV (SUB) VI-A, L.P., dated April 30, 2012. |
[INTENTIONALLY LEFT BLANK]
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SIGNATURE
After reasonable inquiry and to the best of each of the undersigned knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: May 8, 2012
TRIAN FUND MANAGEMENT, L.P. By: Trian Fund Management GP, LLC, its general partner
By: /s/ EDWARD P.GARDEN Name: Edward P. Garden Title: Member
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TRIAN FUND MANAGEMENT GP, LLC
By: /s/ EDWARD P.GARDEN Name: Edward P. Garden Title: Member
| |
TRIAN PARTNERS, L.P. By: Trian Partners GP, L.P., its general partner By: Trian Partners General Partner, LLC, its general partner
By: /s/ EDWARD P.GARDEN Name: Edward P. Garden Title: Member
| |
TRIAN PARTNERS MASTER FUND, L.P. By: Trian Partners GP, L.P., its general partner By: Trian Partners General Partner, LLC, its general partner
By: /s/ EDWARD P.GARDEN Name: Edward P. Garden Title: Member
| |
TRIAN PARTNERS MASTER FUND (ERISA), L.P. By: Trian Partners (ERISA) GP, L.P., its general partner By: Trian Partners (ERISA) General Partner, LLC, its general partner
By: /s/ EDWARD P.GARDEN Name: Edward P. Garden Title: Member
|
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TRIAN PARTNERS PARALLEL FUND I, L.P. By: Trian Partners Parallel Fund I General Partner, LLC, its general partner
By: /s/ EDWARD P.GARDEN Name: Edward P. Garden Title: Member
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TRIAN SPV (SUB) VI, L.P. By: Trian Partners SPV VI GP, L.P., its general partner By: Trian Partners SPV VI General Partner, LLC, its general partner
By: /s/ EDWARD P.GARDEN Name: Edward P. Garden Title: Member
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TRIAN SPV (SUB) VI-A, L.P. By: Trian Partners SPV VI-A GP, L.P., its general partner By: Trian Partners SPV VI-A General Partner, LLC, its general partner
By: /s/ EDWARD P.GARDEN Name: Edward P. Garden Title: Member
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TRIAN PARTNERS STRATEGIC INVESTMENT FUND-A, L.P. By: Trian Partners Strategic Investment Fund-A GP, L.P., its general partner By: Trian Partners Strategic Investment Fund-A General Partner LLC., its general partner
By: /s/ EDWARD P.GARDEN Name: Edward P. Garden Title: Member
|
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TRIAN PARTNERS STRATEGIC CO-INVESTMENT FUND–A, L.P. By: Trian Partners Strategic Co-Investment Fund-A GP, L.P. its general partner By: Trian Partners Strategic Co-Investment Fund-A General Partner, LLC., its general partner
By: /s/ EDWARD P.GARDEN Name: Edward P. Garden Title: Member
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TRIAN PARTNERS STRATEGIC INVESTMENT FUND, L.P. By: Trian Partners Strategic Investment Fund GP, L.P., its general partner By: Trian Partners Strategic Investment Fund General Partner, LLC, its general partner
By: /s/ EDWARD P.GARDEN Name: Edward P. Garden Title: Member
| |
/s/ NELSON PELTZ NELSON PELTZ
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/s/ PETER W. MAY PETER W. MAY
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/s/ EDWARD P. GARDEN EDWARD P. GARDEN
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CALIFORNIA STATE TEACHERS’ RETIREMENT SYSTEM
By: /s/ DEBRA SMITH___________________ |
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Schedule A
The following table sets forth all transactions with respect to the Shares affected during the past 60 days by any of the Reporting Persons, inclusive of any transactions effected through 4:00 p.m., New York City time, on May 8, 2012. Except as otherwise noted, all such transactions in the table were effected in the open market, and the table includes commissions paid in per share prices.
Name | Date | Shares | Price | Type | ||||
Trian Partners Master Fund, L.P. | 3/9/2012 | 206,259 | 39.3749 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/12/2012 | 157,140 | 39.8961 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/13/2012 | 191,817 | 40.4264 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/14/2012 | 246,822 | 40.0782 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/15/2012 | 108,430 | 40.5245 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/16/2012 | 197,458 | 41.1672 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/19/2012 | 209,612 | 40.8710 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/20/2012 | 212,223 | 40.4711 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/21/2012 | 218,095 | 40.6394 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/22/2012 | 242,358 | 40.3483 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/23/2012 | 226,324 | 40.2922 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/26/2012 | 94,807 | 41.3495 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/27/2012 | 12,269 | 41.5142 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/28/2012 | 240,407 | 40.8645 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/29/2012 | 152,554 | 40.8249 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 3/30/2012 | 294,065 | 41.3879 | Purchase* | ||||
Trian Partners Master Fund, L.P. | 4/27/2012 | 162,059 | 42.1484 | Purchase# | ||||
Trian Partners Master Fund, L.P. | 5/4/2012 | 144,674 | 42.0472 | Purchase# | ||||
Trian Partners Master Fund, L.P. | 5/7/2012 | 346,736 | 42.5189 | Purchase# | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/9/2012 | 6,293 | 39.3749 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/12/2012 | 4,794 | 39.8961 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/13/2012 | 5,852 | 40.4264 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/14/2012 | 7,530 | 40.0782 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/15/2012 | 3,308 | 40.5245 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/16/2012 | 6,024 | 41.1672 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/19/2012 | 6,395 | 40.8710 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/20/2012 | 6,474 | 40.4711 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/21/2012 | 6,658 | 40.6394 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/22/2012 | 7,399 | 40.3483 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/23/2012 | 6,909 | 40.2922 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/26/2012 | 2,894 | 41.3495 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/27/2012 | 375 | 41.5142 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/28/2012 | 7,342 | 40.8645 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/29/2012 | 4,659 | 40.8249 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 3/30/2012 | 8,980 | 41.3879 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 4/27/2012 | 1,827 | 42.1484 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 5/4/2012 | 4,216 | 42.0472 | Purchase | ||||
Trian Partners Master Fund (ERISA), L.P. | 5/7/2012 | 10,105 | 42.5189 | Purchase | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/9/2012 | 86,491 | 39.3749 | Purchase | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/12/2012 | 65,894 | 39.8961 | Purchase |
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Trian Partners Strategic Investment Fund, L.P. | 3/13/2012 | 80,435 | 40.4264 | Purchase | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/14/2012 | 103,500 | 40.0782 | Purchase | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/15/2012 | 45,468 | 40.5245 | Purchase | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/16/2012 | 82,800 | 41.1672 | Purchase* | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/19/2012 | 87,897 | 40.8710 | Purchase* | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/20/2012 | 88,992 | 40.4711 | Purchase* | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/21/2012 | 92,071 | 40.6394 | Purchase* | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/22/2012 | 102,314 | 40.3483 | Purchase* | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/23/2012 | 95,544 | 40.2922 | Purchase* | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/26/2012 | 40,024 | 41.3495 | Purchase* | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/27/2012 | 5,179 | 41.5142 | Purchase* | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/28/2012 | 108,201 | 40.8645 | Purchase* | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/29/2012 | 68,661 | 40.8249 | Purchase* | ||||
Trian Partners Strategic Investment Fund, L.P. | 3/30/2012 | 132,351 | 41.3879 | Purchase* | ||||
Trian Partners Strategic Investment Fund, L.P. | 5/4/2012 | 65,874 | 42.0472 | Purchase# | ||||
Trian Partners Strategic Investment Fund, L.P. | 5/7/2012 | 169,073 | 42.5189 | Purchase# | ||||
Trian Partners, L.P. | 3/9/2012 | 72,208 | 39.3749 | Purchase | ||||
Trian Partners, L.P. | 3/12/2012 | 55,011 | 39.8961 | Purchase | ||||
Trian Partners, L.P. | 3/13/2012 | 67,150 | 40.4264 | Purchase | ||||
Trian Partners, L.P. | 3/14/2012 | 86,407 | 40.0782 | Purchase | ||||
Trian Partners, L.P. | 3/15/2012 | 37,959 | 40.5245 | Purchase | ||||
Trian Partners, L.P. | 3/16/2012 | 69,126 | 41.1672 | Purchase | ||||
Trian Partners, L.P. | 3/19/2012 | 73,379 | 40.8710 | Purchase | ||||
Trian Partners, L.P. | 3/20/2012 | 74,295 | 40.4711 | Purchase | ||||
Trian Partners, L.P. | 3/21/2012 | 76,383 | 40.6394 | Purchase | ||||
Trian Partners, L.P. | 3/22/2012 | 84,880 | 40.3483 | Purchase | ||||
Trian Partners, L.P. | 3/23/2012 | 79,264 | 40.2922 | Purchase* | ||||
Trian Partners, L.P. | 3/26/2012 | 33,204 | 41.3495 | Purchase* | ||||
Trian Partners, L.P. | 3/27/2012 | 4,297 | 41.5142 | Purchase* | ||||
Trian Partners, L.P. | 3/28/2012 | 84,212 | 40.8645 | Purchase* | ||||
Trian Partners, L.P. | 3/29/2012 | 53,438 | 40.8249 | Purchase* | ||||
Trian Partners, L.P. | 3/30/2012 | 103,008 | 41.3879 | Purchase* | ||||
Trian Partners, L.P. | 4/27/2012 | 21,542 | 42.1484 | Purchase# | ||||
Trian Partners, L.P. | 5/4/2012 | 49,838 | 42.0472 | Purchase# | ||||
Trian Partners, L.P. | 5/7/2012 | 119,446 | 42.5189 | Purchase# | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/9/2012 | 36,019 | 39.3749 | Purchase |
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Trian Partners Strategic Investment Fund-A, L.P. | 3/12/2012 | 27,442 | 39.8961 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/13/2012 | 33,497 | 40.4264 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/14/2012 | 43,103 | 40.0782 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/15/2012 | 18,935 | 40.5245 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/16/2012 | 34,482 | 41.1672 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/19/2012 | 36,605 | 40.8710 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/20/2012 | 37,061 | 40.4711 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/21/2012 | 45,558 | 40.6394 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/22/2012 | 50,627 | 40.3483 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/23/2012 | 47,277 | 40.2922 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/26/2012 | 19,805 | 41.3495 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/27/2012 | 2,562 | 41.5142 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/28/2012 | 47,510 | 40.8645 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/29/2012 | 30,148 | 40.8249 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 3/30/2012 | 58,115 | 41.3879 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 5/4/2012 | 28,274 | 42.0472 | Purchase | ||||
Trian Partners Strategic Investment Fund-A, L.P. | 5/7/2012 | 72,567 | 42.5189 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/9/2012 | 10,561 | 39.3749 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/12/2012 | 8,046 | 39.8961 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/13/2012 | 9,822 | 40.4264 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/14/2012 | 12,638 | 40.0782 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/15/2012 | 5,552 | 40.5245 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/16/2012 | 10,110 | 41.1672 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/19/2012 | 10,733 | 40.8710 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/20/2012 | 10,866 | 40.4711 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/21/2012 | 11,178 | 40.6394 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/22/2012 | 12,422 | 40.3483 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/23/2012 | 11,600 | 40.2922 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/26/2012 | 4,859 | 41.3495 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/27/2012 | 629 | 41.5142 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/28/2012 | 12,328 | 40.8645 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/29/2012 | 7,823 | 40.8249 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 3/30/2012 | 15,079 | 41.3879 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 4/27/2012 | 3,075 | 42.1484 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 5/4/2012 | 7,124 | 42.0472 | Purchase | ||||
Trian Partners Parallel Fund I, L.P. | 5/7/2012 | 17,073 | 42.5189 | Purchase | ||||
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Trian Partners SPV (SUB) VI, L.P. | 4/4/2012 | 385,000 | 41.0556 | Purchase | ||||
Trian Partners SPV (SUB) VI, L.P. | 4/5/2012 | 700,000 | 40.9986 | Purchase | ||||
Trian Partners SPV (SUB) VI, L.P. | 4/9/2012 | 300,000 | 39.999 | Purchase | ||||
Trian Partners SPV (SUB) VI, L.P. | 4/10/2012 | 75,000 | 39.3571 | Purchase | ||||
Trian Partners SPV (SUB) VI-A, L.P. | 4/30/2012 | 740,000 | 42.6725 | Purchase | ||||
Trian Partners SPV (SUB) VI-A, L.P. | 5/1/2012 | 1,010,554 | 43.2187 | Purchase | ||||
Trian Partners SPV (SUB) VI-A, L.P. | 5/2/2012 | 1,080,043 | 42.5658 | Purchase | ||||
Trian Partners SPV (SUB) VI-A, L.P. | 5/3/2012 | 1,239,354 | 42.1656 | Purchase | ||||
Trian Partners SPV (SUB) VI-A, L.P. | 5/4/2012 | 631,499 | 41.8128 | Purchase | ||||
Trian Partners Strategic Co-Investment Fund-A, L.P. | 5/1/2012 | 299,746 | 43.2187 | Purchase | ||||
Trian Partners Strategic Co-Investment Fund-A, L.P. | 5/2/2012 | 320,357 | 42.5658 | Purchase | ||||
Trian Partners Strategic Co-Investment Fund-A, L.P. | 5/3/2012 | 369,946 | 42.1656 | Purchase | ||||
Trian Partners Strategic Co-Investment Fund-A, L.P. | 5/4/2012 | 188,501 | 41.8128 | Purchase | ||||
California State Teachers Retirement System | 03/13/2012 | 200 | 40.620 | Purchase | ||||
California State Teachers Retirement System | 03/13/2012 | 281 | 40.605 | Purchase | ||||
California State Teachers Retirement System | 03/15/2012 | 37,500 | 40.350 | Purchase | ||||
California State Teachers Retirement System | 03/15/2012 | 37,500 | 40.350 | Sale | ||||
California State Teachers Retirement System | 03/19/2012 | 35,843 | 40.769 | Sale | ||||
California State Teachers Retirement System | 03/20/2012 | 1,400 | 40.404 | Sale | ||||
California State Teachers Retirement System | 03/21/2012 | 257 | 40.658 | Sale | ||||
California State Teachers Retirement System | 03/26/2012 | 200 | 41.650 | Purchase | ||||
California State Teachers Retirement System | 03/28/2012 | 2,017 | 41.490 | Sale | ||||
California State Teachers Retirement System | 03/28/2012 | 200 | 40.820 | Purchase | ||||
California State Teachers Retirement System | 03/28/2012 | 2,017 | 41.490 | Purchase | ||||
California State Teachers Retirement System | 03/29/2012 | 3,883 | 40.901 | Purchase | ||||
California State Teachers Retirement System | 03/30/2012 | 1,800 | 41.350 | Sale | ||||
California State Teachers Retirement System | 04/05/2012 | 10,254 | 40.902 | Sale | ||||
California State Teachers Retirement System | 04/05/2012 | 5,900 | 41.210 | Sale | ||||
California State Teachers Retirement System | 04/05/2012 | 5,900 | 41.210 | Purchase | ||||
California State Teachers Retirement System | 04/11/2012 | 500 | 39.066 | Purchase | ||||
California State Teachers Retirement System | 04/12/2012 | 900 | 40.240 | Purchase | ||||
California State Teachers Retirement System | 04/25/2012 | 200 | 41.990 | Purchase | ||||
California State Teachers Retirement System | 04/26/2012 | 259 | 41.535 | Purchase | ||||
California State Teachers Retirement System | 04/30/2012 | 400 | 42.515 | Purchase | ||||
California State Teachers Retirement System | 05/03/2012 | 100 | 42.040 | Purchase | ||||
California State Teachers Retirement System | 05/07/2012 | 6,791 | 42.256 | Sell |
*On the various dates set forth above, and as more fully described below, the named persons entered into a series of privately negotiated back-to-back call and put transactions (the “Options”) with Nomura International plc (the “Counterparty”) through which they acquired beneficial ownership of an aggregate of 6,522,395 Shares and as a result of which such named persons are subject to the same economic gain or loss as if they had purchased the underlying Shares. More specifically, these transactions represent call options pursuant to which, on or prior to earlier of (i) 2 years after the date of the last purchase under the applicable confirm and (ii) June 1, 2014 (the “Initial Expiration Date”), provided that such Initial Expiration date may be automatically extended for 2 years by the Counterparty
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unless the requisite prior notice not to extend is given (the “Exercise Date”), provided that the named person may acquire the number of Shares set forth above at the Price Per Share set forth above (the “Exercise Price”). These call options may be exercised at any time, in whole or in part, on or prior to the Exercise Date. Simultaneously with the purchase of each call option, the named person also sold a put option to the Counterparty for the same number of Shares pursuant to which, if on the Exercise Date the call options have not been exercised by the named person and the Exercise Price is greater than the closing price of the Shares on the Exercise Date (the “Closing Price”), the Counterparty may require the named person to, at such person’s election, either (i) pay the Counterparty an amount in cash equal to the product of (a) the excess of the Exercise Price over the Closing Price and (b) the number of Shares set forth above or (ii) acquire from the Counterparty the number of Shares set forth above at the Exercise Price. As part of these transactions, each of the named persons pays the Counterparty a financing fee based on the number of days that the Options that it holds are outstanding, which fee is calculated using a monthly rate equal to one month LIBOR plus a spread. Until they are exercised, the Options do not give the Reporting Persons direct or indirect voting, investment or dispositive control over the underlying Shares.
# On the various dates set forth above, and as more fully described below, the named persons entered into a series of privately negotiated back-to-back call and put transactions (the “Options”) with Bank of America Merrill Lynch (the “Counterparty 2”) through which they acquired beneficial ownership of an aggregate of 1,079,242 Shares and as a result of which such named persons are subject to the same economic gain or loss as if they had purchased the underlying Shares. More specifically, these transactions represent call options pursuant to which, on or prior to October 31, 2013 (provided that such date may be automatically extended by the Counterparty for 18 months unless prior to October 31, 2013 the requisite prior notice not to extend is given, the “Exercise Date”), provided that the named person may acquire the number of Shares set forth above at the Price Per Share set forth above (the “Exercise Price”). These call options may be exercised at any time, in whole or in part, on or prior to the Exercise Date. Simultaneously with the purchase of each call option, the named person also sold a put option to the Counterparty for the same number of Shares pursuant to which, if on the Exercise Date the call options have not been exercised by the named person and the Exercise Price is greater than the closing price of the Shares on the Exercise Date (the “Closing Price”), the Counterparty may require the named person to, at such person’s election, either (i) pay the Counterparty an amount in cash equal to the product of (a) the excess of the Exercise Price over the Closing Price and (b) the number of Shares set forth above or (ii) acquire from the Counterparty the number of Shares set forth above at the Exercise Price. As part of these transactions, each of the named persons pays the Counterparty a financing fee based on the number of days that the Options that it holds are outstanding, which fee is calculated using a monthly rate equal to one month LIBOR plus a spread. Until they are exercised, the Options do not give the Reporting Persons direct or indirect voting, investment or dispositive control over the underlying Shares.
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