SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 10)*
Under the Securities Exchange Act of 1934
Columbia Sportswear Company
(Name of Issuer)
Common Stock
(Title of Class of Securities)
198516 10 6
(CUSIP Number of Class of Securities)
Sarah A. Bany
9740 SW Hillman Court, Suite 200
Wilsonville, Oregon 97070
(503) 563-6444
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
July 7, 2021
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐
* | The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. |
The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 198516 10 6 |
1 |
NAME OF REPORTING PERSON
Sarah A. Bany | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐ (b) ☐ | |||||
3 | SEC USE ONLY
| |||||
4 | SOURCES OF FUNDS
OO | |||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IN REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
☐ | |||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7 | SOLE VOTING POWER
3,270,396 | ||||
8 | SHARED VOTING POWER
0 | |||||
9 | SOLE DISPOSITIVE POWER
3,270,396 | |||||
10 | SHARED DISPOSITIVE POWER
0 |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,270,396 | |||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
☐ | |||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.9% | |||||
14 | TYPE OF REPORTING PERSON
IN |
This Amendment No. 10 to Schedule 13D amends and restates in its entirety the Schedule 13D filed by Sarah A. Bany and the Gertrude Boyle Trust on November 13, 2019 (as it was previously amended and restated by an Amendment No. 1 thereto filed on June 11, 2020, an Amendment No. 2 thereto filed on July 23, 2020, an Amendment No. 3 thereto filed on July 31, 2020, an Amendment No. 4 thereto filed on November 10, 2020, an Amendment No. 5 thereto filed on December 3, 2020, an Amendment No. 6 thereto filed on April 6, 2021, an Amendment No. 7 thereto filed on April 21, 2021, an Amendment No. 8 thereto filed on June 1, 2021, and an Amendment No. 9 thereto filed on June 23, 2021).
As set forth in Item 5 below, as a result of the transactions described herein, on July 7, 2021, Ms. Bany ceased to be the beneficial owner of more than five percent (5%) of the common stock of the Company. The filing of this Amendment No. 10 represents the final amendment to the Schedule 13D and constitutes an exit filing.
Item 1. | Security and Issuer |
This statement relates to the common stock of Columbia Sportswear Company, an Oregon corporation (the Company). The Companys principal executive offices are located at 14375 NW Science Park Drive, Portland, Oregon 97229.
Item 2. | Identity and Background |
This statement is filed by Sarah A. Bany, a citizen of the United States of America. Ms. Bany was a member of the board of directors of the Company, but she resigned as a director effective December 9, 2019 based on personal reasons and not due to any disagreement with the Company on any matter relating to its operations, policies or practices (as reported in the Companys Form 8-K filed on December 10, 2019). Ms. Bany is a co-owner of Moonstruck Chocolate Company, a company whose principal business is to produce and sell chocolate products and whose principal business address is 6600 N. Baltimore Avenue, Portland, Oregon 97203.
The business address of Ms. Bany is 9740 SW Hillman Court, Suite 200, Wilsonville, Oregon 97070.
During the last five years, Ms. Bany has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) nor has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
Item 3. | Sources and Amount of Funds or Other Consideration. |
On November 3, 2019, Ms. Bany was appointed as the sole trustee of the Gertrude Boyle Trust, a trust established under the laws of Oregon (the Trust). By virtue of the foregoing, Ms. Bany and the Trust acquired, for no consideration, beneficial ownership (as defined in Rule 13d-3 under the Securities Exchange Act of 1934) of 9,038,445 shares of common stock of the Company (the Acquisition). From November 3, 2019 through the date of the filing of this statement, the Trust has from time to time sold on the open market or in private sales or distributed to beneficiaries of the Trust, in the aggregate, 7,726,603 shares of common stock of the Company (the Dispositions).
Item 4. | Purpose of Transaction. |
The purpose of the Acquisition and the Dispositions is to implement the estate plans of Ms. Boyle, Ms. Banys mother, as set forth in the terms of the trust agreement governing the Trust.
The reporting person has plans to dispose of shares of common stock of the Company in connection with implementing Ms. Boyles estate plans and satisfying certain of the Trusts liabilities, and the reporting person otherwise has no plans or proposals which relate to or would result in any the transactions set forth in Item 4(a)-(j) of Schedule 13D.
Item 5. | Interest in Securities of the Issuer. |
For purposes of Section 13(d) of the Securities Exchange Act of 1934, Ms. Bany beneficially owns 3,270,396 shares of
common stock of the Company (which includes the 1,311,842 shares that the Trust beneficially owns). The 3,270,396 shares that Ms. Bany beneficially owns represents approximately 4.9% of the 66,454,791 shares of common stock of the Company outstanding as of April 23, 2021 (as set forth in the Quarterly Report on Form 10-Q filed on May 6, 2021). Ms. Bany has sole power to vote and direct the voting and dispose and direct the disposition of the shares she beneficially owns.
As a result of the transactions described herein, on July 7, 2021, Ms. Bany ceased to be the beneficial owner of more than five percent (5%) of the common stock of the Company. The filing of this Amendment No. 10 represents the final amendment to the Schedule 13D and constitutes an exit filing.
Ms. Bany has not effected any transactions in shares of common stock of the Company during the past 60 days, except for the following Dispositions that occurred within the past 60 days:
Person Who Effected The |
Date of Transaction | Number of Shares of Common Stock of the Company |
Price Per Share* | Where and How Transaction | ||||||||||
The Trust |
5/20/2021 | 48,500 | $ | 103.40 | Open market sale on NASDAQ | |||||||||
The Trust |
5/21/2021 | 18,469 | $ | 102.76 | Open market sale on NASDAQ | |||||||||
The Trust |
5/21/2021 | 17,928 | $ | 103.26 | Open market sale on NASDAQ | |||||||||
The Trust |
5/24/2021 | 48,800 | $ | 102.32 | Open market sale on NASDAQ | |||||||||
The Trust |
5/25/2021 | 48,800 | $ | 102.17 | Open market sale on NASDAQ | |||||||||
The Trust |
5/26/2021 | 24,428 | $ | 103.81 | Open market sale on NASDAQ | |||||||||
The Trust |
5/26/2021 | 53,572 | $ | 103.95 | Open market sale on NASDAQ | |||||||||
The Trust |
5/27/2021 | 48,000 | $ | 103.70 | Open market sale on NASDAQ | |||||||||
The Trust |
5/28/2021 | 71,235 | $ | 102.62 | Open market sale on NASDAQ | |||||||||
The Trust |
5/28/2021 | 5,265 | $ | 103.18 | Open market sale on NASDAQ | |||||||||
The Trust |
6/1/2021 | 25,489 | $ | 102.05 | Open market sale on NASDAQ | |||||||||
The Trust |
6/1/2021 | 27,258 | $ | 103.15 | Open market sale on NASDAQ | |||||||||
The Trust |
6/2/2021 | 12,642 | $ | 100.74 | Open market sale on NASDAQ | |||||||||
The Trust |
6/2/2021 | 66,358 | $ | 101.04 | Open market sale on NASDAQ | |||||||||
The Trust |
6/3/2021 | 20,101 | $ | 100.08 | Open market sale on NASDAQ | |||||||||
The Trust |
6/3/2021 | 29,899 | $ | 100.23 | Open market sale on NASDAQ | |||||||||
The Trust |
6/4/2021 | 43,295 | $ | 99.98 | Open market sale on NASDAQ | |||||||||
The Trust |
6/4/2021 | 6,205 | $ | 101.37 | Open market sale on NASDAQ | |||||||||
The Trust |
6/7/2021 | 36,112 | $ | 99.79 | Open market sale on NASDAQ | |||||||||
The Trust |
6/7/2021 | 13,888 | $ | 100.87 | Open market sale on NASDAQ | |||||||||
The Trust |
6/8/2021 | 23,716 | $ | 100.43 | Open market sale on NASDAQ | |||||||||
The Trust |
6/8/2021 | 64,604 | $ | 101.57 | Open market sale on NASDAQ | |||||||||
The Trust |
6/8/2021 | 10,680 | $ | 102.01 | Open market sale on NASDAQ | |||||||||
The Trust |
6/9/2021 | 1,947 | $ | 102.03 | Open market sale on NASDAQ | |||||||||
The Trust |
6/10/2021 | 44,259 | $ | 99.62 | Open market sale on NASDAQ | |||||||||
The Trust |
6/10/2021 | 5,741 | $ | 101.01 | Open market sale on NASDAQ | |||||||||
The Trust |
6/11/2021 | 49,500 | $ | 101.18 | Open market sale on NASDAQ | |||||||||
The Trust |
6/11/2021 | 49,500 | $ | 102.05 | Open market sale on NASDAQ | |||||||||
The Trust |
6/14/2021 | 79,613 | $ | 101.22 | Open market sale on NASDAQ | |||||||||
The Trust |
6/14/2021 | 16,087 | $ | 102.64 | Open market sale on NASDAQ | |||||||||
The Trust |
6/14/2021 | 1,300 | $ | 103.25 | Open market sale on NASDAQ | |||||||||
The Trust |
6/15/2021 | 19,130 | $ | 100.70 | Open market sale on NASDAQ | |||||||||
The Trust |
6/15/2021 | 30,370 | $ | 101.03 | Open market sale on NASDAQ | |||||||||
The Trust |
6/16/2021 | 92,778 | $ | 100.10 | Open market sale on NASDAQ | |||||||||
The Trust |
6/16/2021 | 6,222 | $ | 101.12 | Open market sale on NASDAQ | |||||||||
The Trust |
6/17/2021 | 45,821 | $ | 98.56 | Open market sale on NASDAQ | |||||||||
The Trust |
6/17/2021 | 4,679 | $ | 99.09 | Open market sale on NASDAQ | |||||||||
The Trust |
6/18/2021 | 69,147 | $ | 99.05 | Open market sale on NASDAQ | |||||||||
The Trust |
6/18/2021 | 1,553 | $ | 100.69 | Open market sale on NASDAQ | |||||||||
The Trust |
6/21/2021 | 6,600 | $ | 98.58 | Open market sale on NASDAQ | |||||||||
The Trust |
6/21/2021 | 44,400 | $ | 99.38 | Open market sale on NASDAQ | |||||||||
The Trust |
6/22/2021 | 50,000 | $ | 99.68 | Open market sale on NASDAQ | |||||||||
The Trust |
6/23/2021 | 29,535 | $ | 100.05 | Open market sale on NASDAQ | |||||||||
The Trust |
6/23/2021 | 20,715 | $ | 100.65 | Open market sale on NASDAQ | |||||||||
The Trust |
6/24/2021 | 44,476 | $ | 100.18 | Open market sale on NASDAQ | |||||||||
The Trust |
6/24/2021 | 5,524 | $ | 100.81 | Open market sale on NASDAQ | |||||||||
The Trust |
6/25/2021 | 49,400 | $ | 101.54 | Open market sale on NASDAQ | |||||||||
The Trust |
6/28/2021 | 49,103 | $ | 99.12 | Open market sale on NASDAQ | |||||||||
The Trust |
6/28/2021 | 398 | $ | 101.02 | Open market sale on NASDAQ | |||||||||
The Trust |
6/29/2021 | 48,785 | $ | 99.80 | Open market sale on NASDAQ | |||||||||
The Trust |
6/30/2021 | 41,776 | $ | 98.11 | Open market sale on NASDAQ | |||||||||
The Trust |
6/30/2021 | 8,724 | $ | 98.47 | Open market sale on NASDAQ | |||||||||
The Trust |
7/1/2021 | 34,126 | $ | 100.02 | Open market sale on NASDAQ | |||||||||
The Trust |
7/6/2021 | 49,500 | $ | 101.58 | Open market sale on NASDAQ | |||||||||
The Trust |
7/7/2021 | 46,102 | $ | 100.09 | Open market sale on NASDAQ | |||||||||
The Trust |
7/7/2021 | 3,898 | $ | 100.56 | Open market sale on NASDAQ | |||||||||
The Trust |
7/8/2021 | 50,000 | $ | 100.18 | Open market sale on NASDAQ |
* The price reported is a weighted average price for shares sold in multiple transactions on the same date within a one-dollar range. The reporting persons undertake to provide the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price in such range.
Item 6. | Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. |
Not applicable.
Item 7. | Material to be Filed as Exhibits |
Not applicable.
SIGNATURE
After reasonable inquiry and to best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: July 8, 2021
/s/ Steven H. Hull |
Steven H. Hull, attorney-in-fact for Sarah A. Bany, individually* * Pursuant to a Power of Attorney, a copy of which is on file with the Securities and Exchange Commission as Exhibit 99.2 to Amendment No. 1 to Form 13D filed June 11, 2020 (Acc. No. 0001193125-20-166727) and is incorporated by reference. |