SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 4)
SEITEL, INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
816074405
(CUSIP Number)
CARL KRASIK
MELLON FINANCIAL CORPORATION
ONE MELLON CENTER
PITTSBURGH, PENNSYLVANIA
TELEPHONE: 412-234-5222
(Name, address and telephone number of person
authorized to receive notices and communications)
November 11,2004
(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 which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-l(e), 13d-l(f) or 13d-l(g), check
the following box [X].
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.
1
CUSIP No. 816074405
================================================================================
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mellon Financial Corporation, I.R.S. No. 25-1233834
================================================================================
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)[ ]
(b)[ ]
================================================================================
(3) SEC USE ONLY
================================================================================
(4) SOURCE OF FUNDS
OO
================================================================================
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)[ ]
================================================================================
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Pennsylvania
================================================================================
NUMBER OF SHARES BENEFICIALLY OWNED BY REPORTING PERSON WITH
(7) SOLE VOTING POWER 36,011,851
(8) SHARED VOTING POWER -0-
(9) SOLE DISPOSITIVE POWER 36,011,851
(10) SHARED DISPOSITIVE POWER -0-
================================================================================
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
36,011,851
================================================================================
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
================================================================================
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.8%
================================================================================
(14) TYPE OF REPORTING PERSON
HC,CO
================================================================================
2
CUSIP No. 816074405
================================================================================
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mellon HBV Alternative Strategies Holdings LLC, I.R.S. No. 45-1542297
================================================================================
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)[ ]
(b)[ ]
================================================================================
(3) SEC USE ONLY
================================================================================
(4) SOURCE OF FUNDS
OO
================================================================================
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)[ ]
================================================================================
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
================================================================================
NUMBER OF SHARES BENEFICIALLY OWNED BY REPORTING PERSON WITH
(7) SOLE VOTING POWER 36,011,851
(8) SHARED VOTING POWER -0-
(9) SOLE DISPOSITIVE POWER 36,011,851
(10) SHARED DISPOSITIVE POWER -0-
================================================================================
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
36,011,851
================================================================================
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
================================================================================
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.8%
================================================================================
(14) TYPE OF REPORTING PERSON
HC,OO
================================================================================
3
CUSIP No. 816074405
================================================================================
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mellon HBV Alternative Strategies LLC, I.R.S. No. 13-4050836
================================================================================
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)[ ]
(b)[ ]
================================================================================
(3) SEC USE ONLY
================================================================================
(4) SOURCE OF FUNDS
OO
================================================================================
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)[ ]
================================================================================
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
================================================================================
NUMBER OF SHARES BENEFICIALLY OWNED BY REPORTING PERSON WITH
(7) SOLE VOTING POWER 36,011,851
(8) SHARED VOTING POWER -0-
(9) SOLE DISPOSITIVE POWER 36,011,851
(10) SHARED DISPOSITIVE POWER -0-
================================================================================
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
36,011,851
================================================================================
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
================================================================================
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.8%
================================================================================
(14) TYPE OF REPORTING PERSON
IA,OO
================================================================================
4
CUSIP No. 816074405
================================================================================
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mellon HBV Company, Ltd., (No I.R.S. No. - Cayman Company)
================================================================================
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)[ ]
(b)[ ]
================================================================================
(3) SEC USE ONLY
================================================================================
(4) SOURCE OF FUNDS
OO
================================================================================
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d)OR 2(e)[ ]
================================================================================
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
================================================================================
NUMBER OF SHARES BENEFICIALLY OWNED BY REPORTING PERSON WITH
(7) SOLE VOTING POWER 28,923,628
(8) SHARED VOTING POWER -0-
(9) SOLE DISPOSITIVE POWER 28,923,628
(10) SHARED DISPOSITIVE POWER -0-
================================================================================
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
30,061,628
================================================================================
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
================================================================================
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.2%
================================================================================
(14) TYPE OF REPORTING PERSON
CO
================================================================================
5
CUSIP No. 816074405
================================================================================
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mellon HBV Master Multi-Strategy Fund L.P. I.R.S. No. 75-2995342
================================================================================
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)[ ]
(b)[ ]
================================================================================
(3) SEC USE ONLY
================================================================================
(4) SOURCE OF FUNDS
PF
================================================================================
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)[ ]
================================================================================
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
================================================================================
NUMBER OF SHARES BENEFICIALLY OWNED BY REPORTING PERSON WITH
(7) SOLE VOTING POWER 17,065,545
(8) SHARED VOTING POWER -0-
(9) SOLE DISPOSITIVE POWER 17,065,545
(10) SHARED DISPOSITIVE POWER -0-
================================================================================
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
17,065,545
================================================================================
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
================================================================================
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.3%
================================================================================
(14) TYPE OF REPORTING PERSON
PN
================================================================================
6
CUSIP No. 816074405
================================================================================
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mellon HBV Master Rediscovered Opportunities Fund L.P., I.R.S. No. 98-0366054
================================================================================
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)[ ]
(b)[ ]
================================================================================
(3) SEC USE ONLY
================================================================================
(4) SOURCE OF FUNDS
PF
================================================================================
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)[ ]
================================================================================
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
================================================================================
NUMBER OF SHARES BENEFICIALLY OWNED BY REPORTING PERSON WITH
(7) SOLE VOTING POWER 9,929,786
(8) SHARED VOTING POWER -0-
(9) SOLE DISPOSITIVE POWER 9,929,786
(10) SHARED DISPOSITIVE POWER -0-
================================================================================
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
9,929,786
================================================================================
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
================================================================================
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
================================================================================
(14) TYPE OF REPORTING PERSON
PN
================================================================================
7
INTRODUCTORY STATEMENT
This Statement is a joint filing which constitutes Amendment No. 4 to the
initial statement on Schedule 13D filing (the "Initial Statement") of Mellon
Financial Corporation, Mellon HBV Alternative Strategies Holdings LLC, Mellon
HBV Alternative Strategies LLC, Mellon HBV Company, Ltd. and Mellon HBV Master
Multi-Strategy Fund L.P., in each case with respect to the Common Stock of
Seitel, Inc. (the "Company"). The purpose of this Amendment No. 4 is to amend
Item 4 of the Schedule 13D as previously filed and amended by the Reporting
Persons. The information below supplements the information previously provided.
Capitalized terms used in this Statement without being defined herein have the
meanings given to them in the Initial Statement.
ITEM 1. SECURITY AND ISSUER
The title of the class of equity securities to which this Statement
relates is the common stock of Seitel, Inc. (the "Common Stock"). The principal
executive offices of the Company are located at 50 Briar Hollow Lane, West
Building, 7th Floor, Houston, Texas 77027.
ITEM 4. PURPOSE OF TRANSACTION.
On November 11,2004, the Chairman of the Board of Seitel sent a letter
(the "Seitel Letter") to Mellon HBV and ValueAct Capital. In the Seitel Letter
the Chairman said that he appreciated the support of Mellon HBV and ValueAct
Capital and, if the shareholders approve an amendment to the Company's
Certificate of Incorporation to expand the size of the Board from seven to nine
directors, he would fully support their request to have Messrs. Golding and
Flannery elected to the Board. A copy of the Seitel Letter is filed herewith as
Exhibit 4 and incorporated herein by reference.
The Mellon Entities may at any time reconsider and change their plans and
proposals relating to the foregoing or any of the items in paragraphs (a)
through (j) of Item 4 of Schedule 13D.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit No. Title
----------- -----
4. Letter to Mellon HBV Alternative Strategies LLC and
ValueAct Capital from Chairman of Seitel
8
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.
Pursuant to the authorizations contained in the Initial Statement or filed
herewith, this filing is signed by Mellon Financial Corporation on behalf of all
Reporting Entities.
Dated: November 15,2004
MELLON FINANCIAL CORPORATION
By: /s/ Catherine L. Neiport
-----------------------------
Name: Catherine L. Neiport
Title: Attorney-In-Fact
9
The undersigned hereby authorizes Mellon Financial Corporation, in accordance
with Rule 13d-l(f)(l) under the Securities Exchange Act of 1934, as amended (the
"1934 Act"), to file on its behalf any statement on Schedule 13D required to be
signed by the undersigned pursuant to Rule 13d-1 under the 1934 Act and any
amendment thereto pursuant to Rule 13d-2 under the 1934 Act. The undersigned
represents that it is individually eligible to use Schedule 13D, and
acknowledges its responsibility for the timely filing of such Schedule 13D and
any amendments thereto, and for the completeness and accuracy of the information
concerning it contained therein. However, the undersigned is not responsible for
the completeness or accuracy of the information concerning the other entities
making the filing on Schedule 13D unless it knows or has reason to believe that
such information is inaccurate.
Date: November 15,2004
MELLON HBV MASTER REDISCOVERED
OPPORTUNITIES FUND, L.P., by Mellon HBV
Alternative Strategies, LLC, Investment Adviser
/s/ Catherine L. Neiport
-----------------------------
Name: Catherine L. Neiport
Title Attorney-in-Fact
10
Annex A
Executive Officers and Directors of
Mellon HBV Alternative Strategies Holdings LLC
Mellon HBV Alternative Strategies LLC
and Mellon HBV Company, Ltd. (the "Mellon HBV Entities")
NAME AND BUSINESS ADDRESS TITLE WITH EACH
MELLON HBV ENTITY
William F. Harley, III Manager/Director; President
c/o Mellon HBV Alternative Strategies LLC
200 Park Avenue, Suite 300
New York, NY 10166-3399
Edward A. Schinik Manager/Director; Secretary,
c/o Mellon HBV Alternative Strategies LLC Treasurer
200 Park Avenue, Suite 300
New York, NY 10166-3399
John J. Nagorniak Manager/Director
c/o Mellon HBV Alternative Strategies LLC Inc.
200 Park Avenue, Suite 300
New York, NY 10166-3399
Patrick Sheppard Manager/Director
c/o Mellon HBV Alternative Strategies LLC
200 Park Avenue, Suite 300
New York, NY 10166-3399
Each of the above individuals is a citizen of the United States.
11
Annex B
Executive Officers and Directors of
Mellon Financial Corporation
DIRECTOR PRINCIPAL OCCUPATION
Ruth E. Bruch Senior Vice President and Chief Information
Officer, Lucent Technologies, Inc., Murray Hill,
NJ (communications networking solutions)
Paul L. Cejas Chief Executive Officer, PLC Investments Inc.,
Miami Beach, FL (investment management)
Jared L. Cohon President, Carnegie Mellon University, Pittsburgh,
PA (private coeducational research university)
Steven G. Elliott Senior Vice Chairman, Mellon Financial Corporation
and Mellon Bank, N.A., Pittsburgh, PA
Ira J. Gumberg President and Chief Executive Officer, J.J.
Gumberg Co., Pittsburgh, PA (real estate
development and acquisition)
Edmund F. Kelly Chairman, Liberty Mutual Group, Boston, MA
(insurance)
Edward J. McAniff Of Counsel, O'Melveny & Myers, Los Angeles, CA
(full-service law firm)
Martin G. McGuinn Chairman and Chief Executive Officer, Mellon
Financial Corporation; Chairman, President and
Chief Executive Officer, Mellon Bank, N.A.,
Pittsburgh, PA
Robert Mehrabian Chairman, President and Chief Executive Officer,
Teledyne Technologies, Incorporated, Los Angeles,
CA (advanced industrial technologies)
Seward Prosser Mellon President and Chief Executive Officer, Richard K.
Mellon and Sons (investments) and Richard King
Mellon Foundation (Philanthropy), Ligonier, PA
Mark A. Nordenberg Chancellor, University of Pittsburgh, Pittsburgh,
PA (major public research university)
James F. Orr III Chairman, The Rockefeller Foundation, New York, NY
(philanthropy)
David S. Shapira Chairman and Chief Executive Officer, Giant Eagle,
Inc., Pittsburgh, PA (retail grocery store chain)
William E. Strickland, Jr President and Chief Executive Officer, Manchester
Bidwell Corporation, Pittsburgh, PA (education of
inner-city youth and economically disadvantaged
individuals)
John P. Surma President and Chief Operating Officer, United
States Steel Corporation, Pittsburgh, PA (steel
manufacturing)
Wesley W. von Schack Chairman, President and Chief Executive Officer,
Energy East Corporation, Binghamton, NY (energy
services company)
Executive Officers of Mellon Financial Corporation:
NAME PRINCIPAL OCCUPATION
Martin G. McGuinn Chairman and Chief Executive Officer, Mellon
Financial Corporation; Chairman, President and
Chief Executive Officer, Mellon Bank, N.A.
12
Steven G. Elliott Senior Vice Chairman, Mellon Financial Corporation
and Mellon Bank, N.A.
James D. Aramanda Vice Chairman, Mellon Financial Corporation and
Mellon Bank, N.A.
Stephen E. Canter Vice Chairman, Mellon Financial Corporation and
Mellon Bank, N.A.
David F. Lamere Vice Chairman, Mellon Financial Corporation and
Mellon Bank, N.A.
Ronald P. O'Hanley Vice Chairman, Mellon Financial Corporation and
Mellon Bank, N.A.
James P. Palermo Vice Chairman, Mellon Financial Corporation and
Mellon Bank, N.A.
Allan P. Woods Vice Chairman and Chief Information Officer,
Mellon Financial Corporation and Mellon Bank, N.A.
John T. Chesko Vice Chairman and Chief Compliance Officer, Mellon
Financial Corporation and Mellon Bank, N.A.
Michael A. Bryson Chief Financial Officer, Mellon Financial
Corporation; EVP and Chief Financial Officer,
Mellon Bank, N.A.
Timothy P. Robison Chief Risk Officer, Mellon Financial Corporation;
Executive Vice President and Chief Risk Officer,
Mellon Bank, N.A.
Leo Y. AU Treasurer, Mellon Financial Corporation; Senior
Vice President, Manager, Corporate Treasury Group,
Mellon Bank, N.A.
Michael K. Hughey Senior Vice President and Controller, Mellon
Financial Corporation; Senior Vice President,
Director of Taxes and Controller, Mellon
Bank, N.A.
Each of the individuals listed above is a citizen of the United States of
America. The business address of each individual listed above is:
c/o Mellon Financial Corporation
4826 One Mellon Center
Pittsburgh, PA 1525
13
Exhibit 4
(SEITEL LETTERHEAD)
NOVEMBER 11, 2004
Mr. Peter H. Kamin, Partner
ValueAct Capital
435 Pacific Avenue
San Francisco, CA 94133
Mr. George J. Konomos, Portfolio Manager
Mellon HBV Alternative
Strategies LLC
200 Park Avenue, Suite 300
New York, NY 10166-3399
Gentlemen:
Thanks for your letter of November 3rd. The support of ValueAct and Mellon
is much appreciated and, I believe, in the best interest of Seitel and its
shareholders.
By now you may have received a proxy statement for a special meeting of
shareholders that is to be held on December 15th. At that meeting, shareholders
will be asked to approve an amendment to the Company's Certificate of
Incorporation to expand the authorized complement of the board to a maximum of
nine members. If approved, the amendment would make room for additional
well-qualified director candidates such as those you propose. As you know, our
corporate governance procedures require that nominees for board positions be
vetted and recommended by the Governance Committee, and I believe that the names
of your suggested nominees are before that Committee for review. I am fully
supportive of your desire to have Messrs. Golding and Flannery elected to our
board, and I have no reason to believe that these individuals will not pass
muster with the Committee or be viewed by the full board as anything other than
highly desirable potential directors.
I know you will appreciate that while I would welcome your nominees to the
board, I am not in a position to offer you any assurances at this time beyond my
good intentions.
Stay tuned for further developments.
Very truly yours,
/s/ Fred S. Zeidman/pad
Fred S. Zeidman
Chairman of the Board
FSZ/pad
cc: Board of Directors of Seitel, Inc.
Mr. T. William Porter, Porter & Hedges
Mr. Robert D. Monson, CFO/Seitel, Inc.