UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Corrections Corporation of America
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(Name of Issuer)
Series B Cumulative Preferred Stock
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(Title of Class of Securities)
22025Y308
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(CUSIP Number)
Henri L. Wedell Albert J. Bart
125 Norwal Stokes Bartholomew Evans & Petree, P.A.
Memphis, TN 38117 424 Church Street, Suite 2800
(901) 683-6668 Nashville, TN 37219
(615) 259-1450
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(Name, Address, and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 27, 2001
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(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 ss.ss.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 Rule 240.13d-7 for other
parties to whom copies are to be sent.
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 ("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. 22025Y308
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1. Names of Reporting Persons
Henri L. Wedell (1)
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b)
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3. SEC Use Only
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4. Source of Funds (See Instructions) PF/OO
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) [ ]
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6. Citizenship or Place of Organization United States
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7. Sole Voting Power 177,138
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Number of Shares 8. Shared Voting Power 0
Beneficially Owned by Each
Reporting Person With ------------------------------------------------
9. Sole Dispositive Power 177,138
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10. Shared Dispositive Power 0
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11. Aggregate Amount Beneficially Owned by Each
Reporting Person 177,138
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
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13. Percent of Class Represented by Amount in Row (11) 4.49% (2)
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14. Type of Reporting Person (See Instructions) IN
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(1) This schedule reports Shares (as defined in Item 1 herein) held in
Henri L. Wedell's IRA. Mr. Wedell has sole voting and dispositive power
over accounts in his name, including the IRA, and is beneficiary of the
Wedell Spendthrift Trust, of which Marsha M. Wedell is the trustee.
Each of these accounts or trusts hold Shares. Shares held by the Wedell
Spendthrift Trust are not included in the Shares covered by this
schedule.
(2) Calculation based on 3,949,026 Shares outstanding as of December 7,
2001.
Cusip No. 22025Y308
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1. Names of Reporting Persons
Marsha M. Wedell (1)
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2. Check the Appropriate Box if a Member of a Group (See
Instructions)
(a)[X]
(b)
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3. SEC Use Only
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4. Source of Funds (See Instructions) PF/OO
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) [ ]
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6. Citizenship or Place of Organization United States
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7. Sole Voting Power 52,400
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Number of Shares 8. Shared Voting Power 0
Beneficially Owned by Each
Reporting Person With -----------------------------------------------
9. Sole Dispositive Power 52,400
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10. Shared Dispositive Power 0
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 52,400
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
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13. Percent of Class Represented by Amount in Row (11) 1.33%(2)
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14. Type of Reporting Person (See Instructions) IN
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(1) Marsha M. Wedell has sole voting and dispositive power over accounts in
her name and has sole voting and dispositive power as trustee of the
Wedell Spendthrift Trust, of which Henri L. Wedell is the beneficiary.
Each of these accounts and trusts hold Shares as reported in this
schedule. Shares held by Henri L. Wedell through an IRA are not
included in the Shares covered by this schedule.
(2) Calculation based on 3,949,026 Shares outstanding as of December 7,
2001.
ITEM 1. SECURITY AND ISSUER.
The class of equity securities to which this Schedule 13D relates is the Series
B Cumulative Preferred Stock, $0.01 par value per share (the "Shares"), of
Corrections Corporation of America, a Maryland corporation (the "Company"),
whose principal executive offices are located at 10 Burton Hills Boulevard,
Nashville, Tennessee 37215.
ITEM 2. IDENTITY AND BACKGROUND.
The relevant information for Henri L. Wedell and Marsha M. Wedell (collectively,
the "Reporting Persons") are as follows:
(i) (a) Henri L. Wedell
(b) 25 Norwal
Memphis, TN 38117
(c) Investments
(d) In the last five years, Henri L. Wedell has not been convicted
in a criminal proceeding (excluding traffic violations or
similar misdemeanors).
(e) In the last five years, Henri L. Wedell has not been a party
to a civil proceeding of a judicial or administrative body of
competent jurisdiction that has resulted in a judgment, decree
or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state
securities laws or in a finding of any violation with respect
to such laws.
(f) United States
(ii) (a) Marsha M. Wedell
(b) 125 Norwal
Memphis, TN 38117
(c) None
(d) In the last five years, Marsha M. Wedell has not been
convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors).
(e) In the last five years, Marsha M. Wedell has not been a party
to a civil proceeding of a judicial or administrative body of
competent jurisdiction that has resulted in a judgment, decree
or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state
securities laws or in a finding of any violation with respect
to such laws.
(f) United States
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source and amount of funds for the personal and trust accounts is as
follows:
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ACCOUNT NUMBER OF SHARES AMOUNT OF FUNDS SOURCE OF FUNDS
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Henri L. Wedell, personal 177,138 $2,142,195 Personal Funds
accounts (IRA)
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Marsha M. Wedell, personal 23,700 390,269 Personal Funds
accounts
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Wedell Spendthrift Trust 28,700 471,787 Trust Funds
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Total 229,538 $3,004,251
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ITEM 4. PURPOSE OF TRANSACTION.
The Reporting Persons have acquired the Shares for investment purposes. The
Reporting Persons have no present plans or proposals which relate to or would
result in: (i) the acquisition by any person of additional securities of the
Company, or the disposition of securities of the Company, (ii) an extraordinary
corporate transaction, such as a merger, reorganization or liquidation involving
the Company or any of its subsidiaries, (iii) a sale or transfer of a material
amount of assets of the Company or any of its subsidiaries, (iv) any change in
the present board of directors or management of the Company, including any plans
or proposals to change the number or term of directors or to fill any existing
vacancies on the board, (v) any material change in the present capitalization or
dividend policy of the Company, (vi) any other material change in the Company's
business or corporate structure, (vii) changes in the Company's charter, bylaws
or instruments corresponding thereto or other actions which may impede the
acquisition of control of the Company by any person, (viii) causing a class of
securities of the Company to be delisted from a national securities exchange or
cease to be authorized to be quoted in an inter-dealer quotation system of a
registered national securities association, (ix) a class of equity securities of
the Company becoming eligible for termination of registration pursuant to
Section 12(g)(4) of the Securities Exchange Act of 1934, or (x) any action
similar to any of those enumerated above.
Notwithstanding the foregoing, Henri L. Wedell currently serves as a member of
the Board of Directors of the Company. As such, Mr. Wedell does and will
participate in the consideration and approval of various actions of the Company,
including certain of the items set forth above.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
In the aggregate, the Reporting Persons have sole or shared voting and
dispositive power over an aggregate of 229,538 Shares. As of December 7, 2001,
3,949,026 Shares are issued and outstanding; therefore, the Reporting Persons'
229,538 shares constitute approximately 5.8% of the presently outstanding class
of Series B Cumulative Preferred Stock.
The trading dates, number of Shares purchased, and average price per share for
all transactions in the Shares by the Reporting Persons during the past 60 days
are set forth as follows:
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REPORTING PERSON TRADING DATE NUMBER OF SHARES AVERAGE PRICE/SHARE
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Marsha M. Wedell (Wedell November 19, 2001 600 $17.25
Spendthrift Trust)
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Marsha M. Wedell (Wedell November 21, 2001 8,100 $17.29
Spendthrift Trust)
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Henri L. Wedell (IRA) November 26, 2001 700 $17.30
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Henri L. Wedell (IRA) November 27, 2001 800 $17.35
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Henri L. Wedell (IRA) November 28, 2001 1,000 $17.31
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Marsha M. Wedell (Wedell November 29, 2001 9,400 $17.26
Spendthrift Trust)
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Henri L. Wedell (IRA) November 29, 2001 5,600 $17.26
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Marsha M. Wedell (Personal November 29, 2001 15,500 $17.26
Accounts)
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Marsha M. Wedell (Personal December 3, 2001 100 $17.30
Accounts)
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All such transactions were open market transactions and were effected on the New
York Stock Exchange.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS, OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Henri L. Wedell and Marsha M. Wedell are married. The Reporting Persons have no
formal, legal contract or arrangement with respect to the acquisition,
disposition, or voting of the Shares; however, the Reporting Persons may act in
concert with regard to the acquisition or disposition of such securities,
subject to the fiduciary obligations of certain Reporting Persons as a trustee
for any trust disclosed herein.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit A Joint Filing Agreement dated December 7, 2001
SIGNATURES
After reasonable inquiry and to their best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete, and correct.
Date: December 7, 2001
Signature: /s/ Henri L. Wedell
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Name: Henri L. Wedell, individually
Signature: /s/ Marsha M. Wedell
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Name: Marsha M. Wedell, individually and as
Trustee for the Wedell Spendthrift Trust
EXHIBIT A
JOINT FILING OF SCHEDULE 13D
The undersigned hereby agree, in accordance with Rule 13d-1(k) under the
Securities Exchange Act of 1934, that the Schedule 13D filed herewith, and any
amendments thereto, relating to the undersigned's ownership of securities of
Corrections Corporation of America, a Maryland corporation, is, and will be,
filed jointly on behalf of each such person.
Date: December 7, 2001
Signature: /s/ Henri L. Wedell
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Name: Henri L. Wedell, individually
Signature: /s/ Marsha M. Wedell
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Name: Marsha M. Wedell, individually and as
Trustee for the Wedell Spendthrift Trust