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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.
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