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and John J. Brausch (Mr. Brausch), a senior executive officer of
Stone Manufacturing, were trustees of the trusts.
At least as early as April 28, 1992, Stones, Inc., owned
83.4 percent, each of the children owned 4.1 percent, and Ms.
Stone owned the remaining .2 percent of the common stock of Stone
Manufacturing. At least as early as that date, Eugene Earle
Stone, IV, who became a vice president of Stone Manufacturing in
1978 and became its chief executive officer in 1982,5 C. Rivers
Stone, and Mr. Brausch, all of whom were also officers and
directors of Stones, Inc., were trustees of the trusts.
At all relevant times, Ms. Morris and her husband, Charles
H. Morris (Mr. Morris), were involved in the newspaper business
in Savannah, Georgia. Ms. Fraser and her husband, Charles Fraser
(Mr. Fraser), were, along with C. Rivers Stone, involved in the
development of Sea Pines Plantation located on Hilton Head
Island, South Carolina. At no relevant time were Ms. Morris and
Ms. Fraser involved in the day-to-day affairs of the Company.
At least as early as around the late 1980s, Mr. Stone and
Ms. Stone were serving as directors of the Company, but they were
no longer involved in the day-to-day affairs of its business. At
least as early as the last six months of 1995, Mr. Stone and Ms.
Stone were in control of their respective assets, but they no
5Eugene Earle Stone, IV, remained chief executive officer of
Stone Manufacturing at all relevant times.
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