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SHAREHOLDER SHARES
Don Johnston[2] 61,200
Herbert Whitehead 47,040
Patrick Watson 5,880
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Total 114,120
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1At a time not disclosed by the record, Mr. Buchner was involved in an
employment dispute with Burien Nissan. That dispute was resolved on or about
Jan. 10, 1994. Pursuant to the resolution of the employment dispute between
Mr. Buchner and Burien Nissan, on or about Jan. 12, 1994, Burien Nissan
redeemed Mr. Buchner’s 5,880 shares of Burien Nissan stock for $10,217.
2Although not altogether clear from the record, it appears that Jacque
Johnston’s ownership interest in the 61,200 remaining Johnston shares was
transferred to Mr. Johnston on a date not disclosed by the record.
The addendum to the May 25, 1990 stock purchase agreement
further provided, inter alia, that Burien Nissan was to redeem
the 61,200 remaining Johnston shares for $434,677 and that Burien
Nissan was to make that payment, as well as certain other pay-
ments, on January 3, 1994. Pursuant to that addendum, on January
12, 1994, Burien Nissan canceled Mr. Buchner’s 5,880 shares of
stock as well as the 61,200 remaining Johnston shares.
As a result of the addendum to the May 25, 1990 stock
purchase agreement, as of January 12, 1994, the ownership of
Burien Nissan stock was as follows:
Stockholder Number of Shares Owned
Mr. Whitehead 47,040
Mr. Watson 5,880
On April 11, 1995, Burien Nissan began making monthly
payments to Mr. Stanford in the amount of $2,000, which monthly
payments continued until at least September 1999.
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