- 3 -
corporation. At the time of trial, TPC’s principal place of
business was located in New York City.
The 487,440 shares of TPC voting common stock that decedent
owned constituted 20.57 percent (hereinafter generally rounded to
20 percent) of TPC’s total outstanding common stock. Decedent’s
shares constituted the largest block of TPC common stock owned by
any single stockholder.1
On May 2, 1998, all but 300,000 shares of the remaining TPC
common stock were owned by approximately 20 other relatives of
Harvey Mark Thomas, the founder of TPC.
Holst-Knudsen was designated as the sole testamentary
beneficiary of decedent’s 487,440 shares of TPC common stock. As
of May 2, 1998, taking into account the 162,000 shares of TPC
common stock that he already owned and the 487,440 shares that he
inherited from decedent, it appears that Holst-Knudsen
individually and beneficially owned 649,440 shares of TPC stock
or approximately 27 percent of the total outstanding TPC common
stock.
The last 300,000 shares of TPC common stock, representing
12.66 percent of the total outstanding TPC common stock, were
owned by an outside stockholder -- namely, Capital Cities/ABC,
1 Decedent also owned 237.6 shares of TPC nonvoting
preferred stock the value of which is not in dispute.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011