UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
Under the Securities Exchange Act of 1934
(Amendment No.4)*
Fair Isaac Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
303250104
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(CUSIP Number)
Sandell Asset Management Corp.
40 West 57th Street
26th Floor
New York, NY 10019
Attention: Richard Gashler, General Counsel
212-603-5700
With a Copy to:
Marc Weingarten, Esq.
Schulte Roth & Zabel LLP
919 Third Avenue
New York, NY 10019
212-756-2000
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
July 24, 2009
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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 Rule 13d-1(e), 13d-1(f) or 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 13d-7 for other parties
to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 9 Pages)
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* 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 ("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).
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CUSIP No. 303250104 SCHEDULE 13D Page 2 of 9 Pages
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1 NAME OF REPORTING PERSON
Castlerigg Master Investments Ltd.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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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
British Virgin Islands
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED 2,874,000
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BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
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PERSON 10 SHARED DISPOSITIVE POWER
2,874,000
WITH
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,874,000
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
5.9%
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14 TYPE OF REPORTING PERSON
CO
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CUSIP No. 303250104 SCHEDULE 13D Page 3 of 9 Pages
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1 NAME OF REPORTING PERSON
Sandell Asset Management Corp.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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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
Cayman Islands
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
----------- -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 2,874,000
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BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
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PERSON 10 SHARED DISPOSITIVE POWER
2,874,000
WITH
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,874,000
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
5.9%
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14 TYPE OF REPORTING PERSON
CO
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CUSIP No. 303250104 SCHEDULE 13D Page 4 of 9 Pages
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1 NAME OF REPORTING PERSON
Castlerigg International Limited
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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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
British Virgin Islands
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
----------- -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 2,874,000
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BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
2,874,000
WITH
- ------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,874,000
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
5.9%
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14 TYPE OF REPORTING PERSON
CO
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CUSIP No. 303250104 SCHEDULE 13D Page 5 of 9 Pages
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1 NAME OF REPORTING PERSON
Castlerigg International Holdings Limited
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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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
British Virgin Islands
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
----------- -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 2,874,000
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
2,874,000
WITH
- ------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,874,000
- ------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- ------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
5.9%
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14 TYPE OF REPORTING PERSON
CO
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CUSIP No. 303250104 SCHEDULE 13D Page 6 of 9 Pages
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1 NAME OF REPORTING PERSON
Thomas E. Sandell
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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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
Sweden
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
----------- -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 2,874,000
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BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
2,874,000
WITH
- ------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,874,000
- ------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
5.9%
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14 TYPE OF REPORTING PERSON
IN
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CUSIP No. 303250104 SCHEDULE 13D Page 7 of 9 Pages
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The Schedule 13D filed on June 29, 2007, as amended by Amendment No. 1
filed on October 15, 2007, Amendment No. 2 filed on December 11, 2007, and
Amendment No. 3 filed on December 8, 2008 (the "Schedule 13D") by the Reporting
Persons (as defined below), relating to the common stock, par value $0.01 per
share (the "Common Stock"), of Fair Isaac Corporation, a Delaware corporation
(the "Issuer"), is hereby amended as set forth below by this Amendment No. 4 to
the Schedule 13D. Except as set forth herein, the Schedule 13D is unmodified.
ITEM 4. PURPOSE OF TRANSACTION
Item 4 of the Schedule 13D is hereby amended and supplemented by the addition of
the following paragraphs prior to the penultimate paragraph of such Item 4:
As of July 24, 2009, Mr. Graziano ceased to be employed by SAMC and as a
result is no longer affiliated with the Reporting Persons. While Mr. Graziano
will remain as a member of the Issuer's board of directors, he will no longer
serve in such capacity as a representative of SAMC or the other Reporting
Persons. The Issuer and the Reporting Persons have amended the Amended and
Restated December 7 Agreement to remove from such Agreement the Reporting
Persons' right, under certain circumstances, to replace three directors named to
the Issuer's board pursuant to such Agreement, and to make certain related
changes.
The foregoing description of the Amendment No. 1 to the Amended and
Restated December 7 Agreement is a summary only and is qualified in its entirety
by reference to such Amendment No. 1, a copy of which is filed herewith as
Exhibit F and is incorporated by reference into this Item 4.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Paragraphs (a) and (c) of Item 5 of the Schedule 13D are hereby amended and
restated as follows:
(a) Each of Castlerigg Master Investments, SAMC, Castlerigg International,
Castlerigg Holdings and Sandell may be deemed to beneficially own the 2,874,000
shares of Common Stock held by Castlerigg Master Investments, representing
approximately 5.9% of the outstanding shares of Common Stock. The Reporting
Persons may be deemed to be a "group," which "group" may be deemed to
beneficially own an aggregate of 2,874,000 shares of Common Stock, representing
approximately 5.9% of the outstanding shares of Common Stock. The percentages
used herein are based upon the 48,852,923 shares of Common Stock reported to be
outstanding as of April 30, 2009 by the Issuer in its report on Form 10-Q for
the quarterly period ended March 31, 2009, filed with the Securities and
Exchange Commission on May 7, 2009.
(c) No transactions in the shares of Common Stock were effected by the Reporting
Persons during the past sixty days.
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CUSIP No. 303250104 SCHEDULE 13D Page 8 of 9 Pages
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ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
Item 6 of the Schedule 13D is hereby amended and supplemented by the addition of
the following paragraph:
As described in Item 4 above, the Issuer and the Reporting Persons have
entered into an Amendment No. 1 to the Amended and Restated December 7 Agreement
to remove from such Agreement the Reporting Persons' right, under certain
circumstances, to replace three directors named to the Issuer's board pursuant
to such Agreement, and to make certain related changes. The foregoing
description of Amendment No. 1 to the Amended and Restated December 7 Agreement
is a summary only and is qualified in its entirety by reference to such
Amendment No. 1, a copy of which is filed herewith as Exhibit F and is
incorporated by reference into this Item 6.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
The following documents are filed as appendices and exhibits:
Appendix III: Information Regarding the Instruction C Persons
Exhibit A: Letter to Issuer's Chief Executive Officer dated June 29, 2007
(previously filed)
Exhibit B: Press release issued by Sandell Asset Management Corp. on
June 29, 2007 (previously filed)
Exhibit C: Agreement by and among the Reporting Persons and the Issuer, dated
as of December 7, 2007 (previously filed)
Exhibit D: Press Release dated December 10, 2007 (previously filed).
Exhibit E: Amended and Restated Agreement by and among the Reporting Persons
and the Issuer, dated as of December 4, 2008 (previously filed).
Exhibit F: Amendment No. 1 to the Amended and Restated Agreement, by and
among the Reporting Persons and the Issuer, dated as of July 29, 2009.
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CUSIP No. 303250104 SCHEDULE 13D Page 9 of 9 Pages
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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.
Dated: July 29, 2009
CASTLERIGG MASTER INVESTMENTS LTD.
By: Sandell Asset Management Corp.,
as investment manager
By: /s/ Thomas E. Sandell
---------------------
Thomas E. Sandell, Chief Executive Officer
SANDELL ASSET MANAGEMENT CORP.
By: /s/ Thomas E. Sandell
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Thomas E. Sandell, Chief Executive Officer
CASTLERIGG INTERNATIONAL LIMITED
By: Sandell Asset Management Corp.,
as investment manager
By: /s/ Thomas E. Sandell
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Thomas E. Sandell, Chief Executive Officer
CASTLERIGG INTERNATIONAL HOLDINGS LIMITED
By: Sandell Asset Management Corp.,
as investment manager
By: /s/ Thomas E. Sandell
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Thomas E. Sandell, Chief Executive Officer
/s/ Thomas E. Sandell
---------------------
Thomas E. Sandell
AMENDMENT NO. 1 TO AMENDED AND RESTATED AGREEMENT
This Amendment No. 1, dated July 29, 2009, between Fair Isaac
Corporation, a Delaware corporation (the "Company"), on the one hand, and
Sandell Asset Management Corp., a Cayman Islands exempted company ("SAMC"),
Castlerigg Master Investments Ltd., a British Virgin Islands company
("Castlerigg Master Investments"), Castlerigg International Limited, a British
Virgin Islands Company ("Castlerigg International"), Castlerigg International
Holdings Limited, a British Virgin Islands company ("Castlerigg Holdings", and
collectively with SAMC, Castlerigg Master Investments, and Castlerigg
International, the "Sandell Group"), on the other hand, amends the Amended and
Restated Agreement, dated December 4, 2008, between the Company and the Sandell
Group (the "Amended and Restated Agreement"). Terms used but not defined herein
shall have the meanings ascribed to such terms in the Amended and Restated
Agreement.
WHEREAS, Nick Graziano is currently a member of the Board, but as
of July 24, 2009 ceased to be employed by the Sandell Group;
WHEREAS, while the Sandell Group has determined not to seek to
replace Mr. Graziano following the termination of his employment with the
Sandell Group, and Mr. Graziano will no longer be acting as a representative of
the Sandell Group;
WHEREAS, the two other members of the Board named in connection
with the Amended and Restated Agreement, Mr. Loren and Mr. McFarlane, are
independent of the Sandell Group;
WHEREAS, the parties wish to clarify that the Sandell Group will
no longer have any representative on or influence over the composition of the
Board of the Company, and to that end to amend the Amended and Restated
Agreement to remove the right held by the Sandell Group to name replacements, in
certain circumstances, in the event Mr. Loren, Mr. McFarlane or Mr. Graziano
cease to serve as directors of the Company and to make certain other related
amendments;
NOW, THEREFORE, in consideration of the mutual covenants contained
herein and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, and intending to be legally bound, the parties
hereby agree as follows:
1. AMENDMENTS.
(a) SECTION 3(C). Section 3(c) of the Amended and Restated
Agreement is hereby amended by replacing "; and" at the end thereof with a
period.
(b) SECTION 3(D). Section 3(d) of the Amended and Restated
Agreement, providing the Sandell Group with the right to replace Mr. Graziano,
Mr. Loren, and Mr. McFarlane in certain circumstances, is hereby deleted in its
entirety.
(c) SECTION 5(B). Section 5(b) of the Amended and Restated
Agreement is hereby amended by: (i) deleting the words "(or those of their
replacements as contemplated by Section 3)" in the first parenthetical of this
section; and (ii) deleting in its entirety the second proviso of this section.
(d) SECTION 7. Section 7 of the Amended and Restated
Agreement is hereby amended by: deleting the words "(and any replacement
director appointed to the Board pursuant to Section 3(d))" in the first
parenthetical of this section.
2. OTHER SECTIONS. Other than as specifically set forth in this
Amendment No. 1, the Amended and Restated Agreement (including without
limitation, the obligation of each of Mr. Graziano, Mr. Loren and Mr. McFarlane
to tender his resignation from the Board in the event the Sandell Group's
beneficial ownership of the Company's common stock becomes less than three
percent (3%) of the outstanding shares of common stock of the Company contained
in Section 7 of the Amended and Restated Agreement) shall continue in full force
and effect and shall terminate only in accordance with the terms of the Amended
and Restated Agreement.
[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]
IN WITNESS WHEREOF, this Amendment No. 1 has been duly executed
and delivered by each party hereto as of the date first above written.
FAIR ISAAC CORPORATION
By: /s/ Mark N. Greene
--------------------------------
Name: Mark N. Greene
Title: CEO
SANDELL ASSET MANAGEMENT CORP.
By: /s/ Thomas E. Sandell
--------------------------------
Name: Thomas E. Sandell
Title: Chief Executive Officer
CASTLERIGG MASTER INVESTMENTS LTD.
BY: Sandell Asset Management Corp.
By: /s/ Thomas E. Sandell
--------------------------------
Name: Thomas E. Sandell
Title: Chief Executive Officer
CASTLERIGG INTERNATIONAL LIMITED.
BY: Sandell Asset Management Corp.
By: /s/ Thomas E. Sandell
--------------------------------
Name: Thomas E. Sandell
Title: Chief Executive Officer
CASTLERIGG INTERNATIONAL HOLDINGS LIMITED
BY: Sandell Asset Management Corp.
By: /s/ Thomas E. Sandell
--------------------------------
Name: Thomas E. Sandell
Title: Chief Executive Officer
Acknowledged and Agreed by:
/s/ Nick Graziano
----------------------------------------
Name: Nick Graziano
/s/ Allan Loren
----------------------------------------
Name: Allan Loren
/s/ John S. McFarlane
----------------------------------------
Name: John S. McFarlane