SEC Form SC 13D/A filed by AutoNation Inc. (Amendment)

SEC Form SC 13D/A filed by AutoNation Inc. (Amendment)

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AutoNation Reports Third Quarter 2024 Results

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Amendment: SEC Form SC 13G/A filed by AutoNation Inc.

Amendment: SEC Form SC 13D/A filed by AutoNation Inc.

Amendment: SEC Form SC 13D/A filed by AutoNation Inc.

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6/9/23 9:31:27 PM ET

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SC 13D/A 1 d501897dsc13da.htm SC 13D/A SC 13D/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 62)*

AutoNation, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

05329W102

(CUSIP Number)

Bruce Newsome, Esq.

Haynes and Boone, LLP

2323 Victory Avenue, Suite 700

Dallas, Texas 75219

(214) 651-5000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

June 7, 2023

(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. ☐

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

^*	The remainder of this cover page shall be filled out for a reporting person’s 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 on 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, as amended (“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. 05329W102


1.		Names of Reporting Persons. ESL Partners, L.P.
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (b) ☐
3.		SEC Use Only
4.		Source of Funds (See Instructions) OO
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
6.		Citizenship or Place of Organization Delaware

(1)	Based upon 45,608,396 Shares outstanding as of April 18, 2023, as disclosed in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023, that was filed by the Issuer with the SEC on April 20, 2023.

CUSIP No. 05329W102


1.		Names of Reporting Persons. RBS Partners, L.P.
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (b) ☐
3.		SEC Use Only
4.		Source of Funds (See Instructions) OO
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
6.		Citizenship or Place of Organization Delaware

(1)	Based upon 45,608,396 Shares outstanding as of April 18, 2023, as disclosed in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023, that was filed by the Issuer with the SEC on April 20, 2023.

CUSIP No. 05329W102


1.		Names of Reporting Persons. ESL Investments, Inc.
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (b) ☐
3.		SEC Use Only
4.		Source of Funds (See Instructions) OO
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
6.		Citizenship or Place of Organization Delaware

(1)	Based upon 45,608,396 Shares outstanding as of April 18, 2023, as disclosed in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023, that was filed by the Issuer with the SEC on April 20, 2023.

CUSIP No. 05329W102


1.		Names of Reporting Persons. The Lampert Foundation
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (b) ☐
3.		SEC Use Only
4.		Source of Funds (See Instructions) OO
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
6.		Citizenship or Place of Organization Connecticut

(1)	Based upon 45,608,396 Shares outstanding as of April 18, 2023, as disclosed in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023, that was filed by the Issuer with the SEC on April 20, 2023.

CUSIP No. 05329W102


1.		Names of Reporting Persons. Edward S. Lampert
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (b) ☐
3.		SEC Use Only
4.		Source of Funds (See Instructions) OO
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
6.		Citizenship or Place of Organization United States

(1)	Includes 1,649 Shares held by The Nicholas Trust, 1,649 Shares held by The Nina Trust, 162,002 Shares held by the Foundation and 4,408 Shares held in the Liability Accounts controlled by ESL.

(2)	Based upon 45,608,396 Shares outstanding as of April 18, 2023, as disclosed in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023, that was filed by the Issuer with the SEC on April 20, 2023.

This Amendment No. 62 to Schedule 13D (this “Amendment”) relates to shares of common stock, par value $0.01 per share (the “Shares”), of AutoNation, Inc., a Delaware corporation (the “Issuer”). This Amendment amends the Schedule 13D, as previously amended, filed with the Securities and Exchange Commission (the “SEC”) by ESL Partners, L.P., a Delaware limited partnership (“ESL”), RBS Partners, L.P., a Delaware limited partnership (“RBS”), ESL Investments, Inc., a Delaware corporation (“Investments”), The Lampert Foundation, a Connecticut trust (the “Foundation”), and Edward S. Lampert, a United States citizen, by furnishing the information set forth below. Except as otherwise specified in this Amendment, all previous Items are unchanged. Capitalized terms used herein which are not defined herein have the meanings given to them in the Schedule 13D, as previously amended, filed with the SEC.

Item 5. Interest in Securities of the Issuer.

Item 5 is hereby amended and restated in its entirety as follows:

“(a)-(b) Each Filing Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this statement.

Each Filing Person may be deemed to be a member of a group with respect to the Issuer or securities of the Issuer for the purposes of Section 13(d) or 13(g) of the Act. Each Filing Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any syndicate or group with respect to the Issuer or any securities of the Issuer.

As of June 9, 2023, the Filing Persons may be deemed to beneficially own the Shares set forth in the table below.


FILING PERSON	NUMBER OF SHARES BENEFICIALLY OWNED			PERCENTAGE OF OUTSTANDING SHARES	SOLE VOTING POWER			SHARED VOTING POWER		SOLE DISPOSITIVE POWER			SHARED DISPOSITIVE POWER
ESL Partners, L.P.		4,408	(1)	Less than 0.1% (2)		4,408	(1)		0		4,408	(1)		0
RBS Partners, L.P.		4,408	(1)	Less than 0.1% (2)		4,408	(1)		0		4,408	(1)		0
ESL Investments, Inc.		4,408	(1)	Less than 0.1% (2)		4,408	(1)		0		4,408	(1)		0
The Lampert Foundation		162,002		0.4% (2)		162,002			0		162,002			0
Edward S. Lampert		5,259,642	(1)(3)(4)	11.5% (2)		5,259,642	(1)(3)(4)		0		5,259,642	(1)(3)(4)		0

(1)

This number includes 4,408 Shares held in the Liability Accounts controlled by ESL. RBS is the general partner of, and may be deemed to indirectly beneficially own securities owned by, ESL. Investments is the general partner of, and may be deemed to indirectly beneficially own securities owned by, RBS. Mr. Lampert is the Chairman, Chief Executive Officer and Director of, and may be deemed to indirectly beneficially own securities owned by, Investments.

(2)	This is based upon 45,608,396 Shares outstanding as of April 18, 2023, as disclosed in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023, that was filed by the Issuer with the SEC on April 20, 2023.

(3)	This number includes 5,089,934 Shares held by Mr. Lampert, 1,649 Shares held by The Nicholas Floyd Lampert 2015 Trust (“The Nicholas Trust”) and 1,649 Shares held by The Nina Rose Lampert 2015 Trust (“The Nina Trust” and, together with The Nicholas Trust, the “Trusts”).

(4)	This number includes 162,002 Shares held by the Foundation. Mr. Lampert and his wife Kinga Keh Lampert are co-trustees of, and may be deemed to indirectly beneficially own securities owned by, the Foundation.

(c) Other than as set forth on Annex B hereto, there have been no transactions in the class of securities reported on that were effected by the Filing Persons during the past sixty days or since the most recent filing of Schedule 13D, whichever is less.

(d) Not applicable.

(e) Not applicable.”

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


Date: June 9, 2023	ESL PARTNERS, L.P.

	By: RBS Partners, L.P., as its general partner

	By: ESL Investments, Inc., as its general partner

	By:	/s/ Edward S. Lampert
	Name:	Edward S. Lampert
	Title:	Chief Executive Officer

	RBS PARTNERS, L.P.

	By: ESL Investments, Inc., as its general partner

	By:	/s/ Edward S. Lampert
	Name:	Edward S. Lampert
	Title:	Chief Executive Officer

	ESL INVESTMENTS, INC.

	By:	/s/ Edward S. Lampert
	Name:	Edward S. Lampert
	Title:	Chief Executive Officer

	THE LAMPERT FOUNDATION

	By:	/s/ Edward S. Lampert
	Name:	Edward S. Lampert
	Title:	Co-Trustee

	EDWARD S. LAMPERT

	By:	/s/ Edward S. Lampert

ANNEX B

RECENT TRANSACTIONS BY THE FILING PERSONS IN THE SECURITIES OF AUTONATION, INC.


Entity	Date of Transaction		Description of Transaction		Shares Disposed		Price Per Share
Edward S. Lampert		04/14/2023		Open Market Sales		17,637	$	135.0070
Edward S. Lampert		05/01/2023		Open Market Sales		37,156	$	137.3878
Edward S. Lampert		05/05/2023		Open Market Sales		31,477	$	133.4665
Edward S. Lampert		05/30/2023		Open Market Sales		55,914	$	140.7560
Edward S. Lampert		06/07/2023		Open Market Sales		50,000	$	145.1906

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Date	Price Target	Rating	Analyst
9/25/2024	$145.00 → $200.00	Equal-Weight → Overweight	Morgan Stanley
9/12/2024	$210.00	Overweight	Stephens
2/29/2024	$117.00 → $140.00	Underweight → Equal-Weight	Morgan Stanley
1/17/2024	$185.00	Outperform	Evercore ISI
10/31/2023	$145.00	Underweight → Neutral	JP Morgan
2/21/2023	$125.00 → $130.00	Neutral → Underweight	JP Morgan
1/17/2023	$104.00 → $96.00	Equal-Weight → Underweight	Morgan Stanley
1/13/2023	$126.00	Overweight → Equal Weight	Wells Fargo

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

Sole Voting Power

4,408

Shared Voting Power

0

Sole Dispositive Power

4,408

Shared Dispositive Power

0