- 6 - Voting Nonvoting Owner of shares shares shares3 Leo J. Polack 6,522 1,193,479 Dana Rhoads 869 159,130 Lora Oberle 870 159,131 Gregory Polack 870 159,131 Sherry Tollefson 869 159,130 Patricia Kostuch 869 159,130 Total 10,869 1,989,131 Dana Rhoads was the president of ZSI, and Lora Oberle, Gregory Polack, Sherry Tollefson, and Patricia Kostuch are petitioner’s four children. On December 31, 1992, petitioner gifted 260,000 of his nonvoting shares of stock in ZSI to each of his four children, and immediately thereafter, ZSI’s stock was held as follows: Voting Nonvoting Owner of shares shares shares Leo J. Polack 6,522 153,479 Dana Rhoads 869 159,130 Lora Oberle 870 419,131 Gregory Polack 870 419,131 Sherry Tollefson 869 419,130 Patricia Kostuch 869 419,130 Total 10,869 1,989,131 Petitioner retained an appraisal company to appraise the value of the gifted shares of stock in ZSI as of the date of the gifts, December 31, 1992. Gerald Gray, an appraiser with that company, prepared an appraisal report and concluded that, on the 3On Dec. 30, 1992, petitioner recapitalized ZSI and thereby created the two classes of stock. The only difference between the classes of stock was the presence of voting rights.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Next
Last modified: May 25, 2011