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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 2)*

Smithfield Foods, Inc.

(Name of Issuer)

Common Stock, $.50 par value

(Title of Class of Securities)

832248 95 9

(CUSIP Number)

Mark Roberts
P.O. Box 1076
Rose Hill, NC 28458

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

June 19, 2003

(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-1(b)(3) or (4), check the following box. [  ]

* 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.

 

SCHEDULE 13D

     
  CUSIP No. 832248 95 9   Page 2 of 19 Pages
             
  1   NAME OF REPORTING PERSON        
 
    Wendell H. Murphy        
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a)
(b) 		  [  ]
[x]
 
  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        
    United States of America        
 
       7   SOLE VOTING POWER
        5,186,606
NUMBER OF        
SHARES
BENEFICIALLY      8   SHARED VOTING POWER
OWNED BY       73
EACH        
REPORTING
PERSON      9   SOLE DISPOSITIVE POWER
WITH       4,768,690
         
 
       10   SHARED DISPOSITIVE POWER
        73
 
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    5,186,679    
 
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*   [  ]
 
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    4.7%    
 
  14   TYPE OF REPORTING PERSON*    
    IN    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

SCHEDULE 13D

     
  CUSIP No. 832248 95 9   Page 3 of 19 Pages
             
  1   NAME OF REPORTING PERSON        
 
    Harry D. Murphy        
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a)
(b) 		  [  ]
[x]
 
  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        
    United States of America        
 
       7   SOLE VOTING POWER
        2,925,034
NUMBER OF        
SHARES
BENEFICIALLY      8   SHARED VOTING POWER
OWNED BY       17
EACH        
REPORTING
PERSON      9   SOLE DISPOSITIVE POWER
WITH       2,565,501
         
 
       10   SHARED DISPOSITIVE POWER
        17
 
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    2,925,051    
 
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*   [  ]
 
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    2.7%    
 
  14   TYPE OF REPORTING PERSON*    
    IN    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

SCHEDULE 13D

     
  CUSIP No. 832248 95 9   Page 4 of 19 Pages
             
  1   NAME OF REPORTING PERSON        
 
    Joyce Murphy Minchew        
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a)
(b) 		  [  ]
[x]
 
  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        
    United States of America        
 
       7   SOLE VOTING POWER
        1,782,603
NUMBER OF        
SHARES
BENEFICIALLY      8   SHARED VOTING POWER
OWNED BY       26
EACH        
REPORTING
PERSON      9   SOLE DISPOSITIVE POWER
WITH       1,638,243
         
 
       10   SHARED DISPOSITIVE POWER
        26
 
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    1,782,629    
 
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*   [  ]
 
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    1.6%    
 
  14   TYPE OF REPORTING PERSON*    
    IN    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

SCHEDULE 13D

     
  CUSIP No. 832248 95 9   Page 5 of 19 Pages
             
  1   NAME OF REPORTING PERSON        
 
    Wendell H. Murphy, Jr.        
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a)
(b) 		  [  ]
[x]
 
  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        
    United States of America        
 
       7   SOLE VOTING POWER
        3,396,069
NUMBER OF        
SHARES
BENEFICIALLY      8   SHARED VOTING POWER
OWNED BY       51
EACH        
REPORTING
PERSON      9   SOLE DISPOSITIVE POWER
WITH       3,122,533
         
 
       10   SHARED DISPOSITIVE POWER
        51
 
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    3,396,120    
 
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*   [  ]
 
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    3.1%    
 
  14   TYPE OF REPORTING PERSON*    
    IN    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

SCHEDULE 13D

     
  CUSIP No. 832248 95 9   Page 6 of 19 Pages
             
  1   NAME OF REPORTING PERSON        
 
    Wendell Murphy Crumpler        
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a)
(b) 		  [  ]
[x]
 
  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        
    United States of America        
 
       7   SOLE VOTING POWER
        999,004
NUMBER OF        
SHARES
BENEFICIALLY      8   SHARED VOTING POWER
OWNED BY       15
EACH        
REPORTING
PERSON      9   SOLE DISPOSITIVE POWER
WITH       918,185
         
 
       10   SHARED DISPOSITIVE POWER
        15
 
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    999,019    
 
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*   [  ]
 
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    0.9%    
 
  14   TYPE OF REPORTING PERSON*    
    IN    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

SCHEDULE 13D

     
  CUSIP No. 832248 95 9   Page 7 of 19 Pages
             
  1   NAME OF REPORTING PERSON        
 
    Stratton K. Murphy        
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a)
(b) 		  [  ]
[x]
 
  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        
    United States of America        
 
       7   SOLE VOTING POWER
        1,168,265
NUMBER OF        
SHARES
BENEFICIALLY      8   SHARED VOTING POWER
OWNED BY       9
EACH        
REPORTING
PERSON      9   SOLE DISPOSITIVE POWER
WITH       985,794
         
 
       10   SHARED DISPOSITIVE POWER
        9
 
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    1,168,274    
 
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*   [  ]
 
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    1.1%    
 
  14   TYPE OF REPORTING PERSON*    
    IN    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

SCHEDULE 13D

     
  CUSIP No. 832248 95 9   Page 8 of 19 Pages
             
  1   NAME OF REPORTING PERSON        
 
    Marc D. Murphy        
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a)
(b) 		  [  ]
[x]
 
  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        
    United States of America        
 
       7   SOLE VOTING POWER
        1,168,265
NUMBER OF        
SHARES
BENEFICIALLY      8   SHARED VOTING POWER
OWNED BY       9
EACH        
REPORTING
PERSON      9   SOLE DISPOSITIVE POWER
WITH       985,794
         
 
       10   SHARED DISPOSITIVE POWER
        9
 
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    1,168,274    
 
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*   [  ]
 
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    1.1%    
 
  14   TYPE OF REPORTING PERSON*    
    IN    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

SCHEDULE 13D

     
  CUSIP No. 832248 95 9   Page 9 of 19 Pages
             
  1   NAME OF REPORTING PERSON        
 
    Angela Norman Brown        
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a)
(b) 		  [  ]
[x]
 
  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        
    United States of America        
 
       7   SOLE VOTING POWER
        548,291
NUMBER OF        
SHARES
BENEFICIALLY      8   SHARED VOTING POWER
OWNED BY       8
EACH        
REPORTING
PERSON      9   SOLE DISPOSITIVE POWER
WITH       503,873
         
 
       10   SHARED DISPOSITIVE POWER
        8
 
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    548,299    
 
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*   [  ]
 
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    0.5%    
 
  14   TYPE OF REPORTING PERSON*    
    IN    
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

     
  CUSIP No. 832248 95 9   Page 10 of 19 Pages

Item 1 Security and Issuer

     This Amendment No. 2 to Schedule 13D relating to the common stock (the “Smithfield Common Stock”) of Smithfield Foods, Inc., a Virginia corporation (“Smithfield”), is being filed on behalf of Wendell H. Murphy, Harry D. Murphy, Joyce Murphy Norman, Wendell H. Murphy, Jr., Wendy Murphy Crumpler, Stratton K. Murphy, Marc D. Murphy, and Angela Norman Brown (each, a “Reporting Person” and, collectively, the “Reporting Persons”), to amend the Schedule 13D which was originally filed with the with the Securities and Exchange Commission (the “Commission”) on August 31, 2001 (the “Schedule 13D”), as amended by Amendment No. 1 to the Schedule 13D filed with the Commission on November 7, 2001. Unless otherwise indicated, all capitalized terms used but not defined herein shall have the meanings set forth in the Schedule 13D.

Item 3 Source and Amount of Funds or Other Consideration

     Item 3 is hereby amended by adding the following information:

     On July 22, 2003, Smithfield increased the estimate of Additional Acquisition Shares to 575,972 from 446,872. This increase in the estimate resulted in the following increases, for no consideration, of shares of Smithfield Common Stock deemed beneficially owned by the Reporting Persons:

         
Reporting Person
   Number of Additional Shares Acquired
 
Wendell H. Murphy
     46,839  
Harry D. Murphy
     8,538  
Joyce Murphy Minchew
     17,106  
Wendell H. Murphy, Jr.
     32,640  
Wendy Murphy Crumpler
     9,806  
Stratton K. Murphy
     4,476  
Marc D. Murphy
     4,476  
Angela Norman Brown
     5,219  
Total
     129,100  

     The Reporting Persons expect to receive a portion of the 575,972 Additional Acquisition Shares within the next 60 days, but as of the date of this filing, do not know the exact amount to be distributed or the exact date when such distribution will occur.

Item 5 Interest in Securities of the Issuer

     Item 5 is hereby amended by adding the following information:

Limited Liability Company Transfers:

     In December 2002, each of Wendell H. Murphy, Wendell H. Murphy, Jr., Wendy Murphy Crumpler, Joyce Murphy Minchew and Angela Norman Brown transferred the shares of Smithfield Common Stock indicated below to limited liability companies directly or indirectly wholly-owned by such Reporting Persons for the consideration described below.

  •   Wendell H. Murphy transferred the number of shares of Smithfield Common Stock indicated below to the following Delaware limited liability companies on the dates

 

 

     
  CUSIP No. 832248 95 9   Page 11 of 19 Pages

 

      indicated in exchange for all of the limited liability company interests of WHM-Sr. Legacy, LLC.

 

                 
Date
 
Entity
 
Shares
 
 
12/19/02
   WHM-Sr. Legacy, LLC     549,707  
12/13/02
   WHM Jr. Legacy, LLC     1,500,000  
12/13/02
   WMC Legacy, LLC     1,500,000  

      WHM Jr. Legacy, LLC and WMC Legacy, LLC are wholly-owned by WHM-Sr. Legacy, LLC.
 
  •   Wendell H. Murphy, Jr. transferred 1,921,052 shares of Smithfield Common Stock on December 18, 2002 to DM Legacy, LLC, a Delaware limited liability company, in exchange for all of the limited liability company interests of DM Legacy, LLC (which included both Class A and Class B limited liability company interests).
 
  •   Wendy Murphy Crumpler transferred 564,267 shares of Smithfield Common Stock on December 16, 2002 to Register Legacy, LLC, a Delaware limited liability company, in exchange for all of the limited liability company interests of Register Legacy, LLC (which included both Class A and Class B limited liability company interests).
 
  •   Joyce Murphy Minchew transferred 1,209,476 shares of Smithfield Common Stock on December 16, 2002 to JM Legacy, LLC, a Delaware limited liability company, in exchange for all of the limited liability company interests of JM Legacy, LLC (which included both Class A and Class B limited liability company interests).
 
  •   Angela Norman Brown transferred 310,123 shares of Smithfield Common Stock on December 16, 2002 to AB Legacy, LLC, a Delaware limited liability company, in exchange for all of the limited liability company interests of AB Legacy, LLC (which included both Class A and Class B limited liability company interests).

     On July 21, 2003, each of Wendell H. Murphy, Wendell H. Murphy, Jr., Wendy Murphy Crumpler, Joyce Murphy Minchew and Angela Norman Brown transferred all of the Class B limited liability company interests they held in the above limited liability companies to various family trusts in exchange for promissory notes of the trusts. Under each of the limited liability company agreements, the Class B interests receive 99% of the economic interest of the assets held in the respective limited liability companies. As a result, each of these Reporting Persons transferred 99% of the economic interest in the shares of Smithfield Common Stock held by each limited liability company to these family trusts. The Reporting Persons retained the Class A limited liability company interests, which give the Reporting Persons voting and dispositive power over the shares of Smithfield Common Stock held by the limited liability companies. The family trusts to which the Class B interests were transferred have the right to receive the dividends from, and the proceeds of the sale of the shares of Smithfield Common Stock held by the limited liability companies to the extent those dividends and proceeds represent 99% of the economic interest of the assets held in the respective limited liability companies. Because the Reporting Persons retain the voting and dispositive power over the shares of Smithfield Common Stock held by the limited liability companies as a result of their continued ownership of the Class A interests, the Reporting Persons retain beneficial ownership of these shares of Smithfield Common Stock.

 

 

     
  CUSIP No. 832248 95 9   Page 12 of 19 Pages

Prepaid Variable Forward Contracts:

     On the dates set forth in the table below, the “Forward Contract Dates,” each of the Reporting Persons entered into a prepaid variable forward contract (“Forward Contract”) with an unaffiliated third party buyer pursuant to a Master Agreement (the “Master Agreement”), dated on the respective dates set forth in the table below, “the Master Contract Dates.” Pursuant to the Master Agreement, each Reporting Person received cash on the Forward Contract Date in exchange for the obligation to deliver a number of shares of Smithfield Common Stock on a date in the future, the “Delivery Date,” (or on an earlier date if the Master Agreement is terminated early) pursuant to the following formula. Each Reporting Person also pledged the number of shares of Smithfield Common Stock indicated in the table below under the column “Shares Subject to Forward Contact” (as to each Reporting Person, the “Number of Forward Contract Shares”) on the Forward Contract Date to secure his or her obligations under the Master Agreement.

          (i) if the price of Smithfield Common Stock on the respective Delivery Date 1/ (the “Settlement Value”) is less than or equal to the floor price (the “Floor Price”), the Reporting Person must deliver the Number of Forward Contract Shares;

          (ii) if the Settlement Value is less than or equal to the threshold price (the “Threshold Price”), but greater than the Floor Price, then the Reporting Person must deliver a number of shares equal to the Number of Forward Contract Shares times the Floor Price divided by the Settlement Value;

          (iii) if the Settlement Value is greater than the Threshold Price, then the Reporting Person must deliver a number of shares equal to the Number of Forward Contract Shares times the sum of the Floor Price and the amount by which the Settlement Value exceeds the Threshold Price divided by the Settlement Value.

     For the Forward Contracts dated June 19, 2003 and July 15, 2003, the number of shares to be delivered on the Delivery Date is calculated with the above formula on each of the 10 business days prior to and including the Delivery Date. Following are the prices for each Forward Contract as they relate to the above formula:

                 
Forward Contract Date
 
Floor Price
 
Threshold Price
 
 
03/14/2003
   $ 14.07     $ 22.87  
06/19/2003
   $ 23.3713     $ 30.3827  
07/15/2003
   $ 23.0112     $ 29.9146  

     Alternatively, each Reporting Person has the option to settle the Master Agreement for cash, in which case the cash settlement amount payable would be equal to the result obtained by multiplying the number of shares to be delivered on the Delivery Date by the Settlement Value. Unless there is a default under the Master Agreement, each Reporting Person retains all voting rights with respect to the shares of Smithfield Common Stock pledged by such Reporting Person until such shares are delivered in settlement of the Master Agreement. The unaffiliated third party buyer is entitled to any dividends received by the

    1/       For the Forward Contracts dated March 14, 2003, this price is the closing price on the Delivery Date. For the Forward Contracts dated June 19, 2003 and July 15, 2003, this price is the volume weighted average price per share as displayed on Bloomberg on each of the 10 business days prior to and including the Delivery Date.

 

 

     
  CUSIP No. 832248 95 9   Page 13 of 19 Pages

Reporting Persons on the Number of Forward Contract Shares. The Forward Contracts are subject to early termination upon the occurrence of certain events.

     In addition to the Number of Forward Contract Shares subject to the Forward Contract the following table also sets forth the amount of the cash payment received by each Reporting Person pursuant to the respective Master Agreement.

                                         
    Forward   Master           Shares Subject        
    Contract   Agreement   Delivery   to Forward   Cash
Reporting Person   Date   Date   Date   Contract   Received
 
 
 
 
 
Harry D. Murphy
     03/14/2003       02/27/2003       03/14/2006       359,533     $ 4,624,199  
Stratton K. Murphy
     03/14/2003       02/27/2003       03/14/2006       182,471     $ 2,346,884  
Marc D. Murphy
     03/14/2003       02/27/2003       03/14/2006       182,471     $ 2,346,884  
Wendell H. Murphy
     06/19/2003       06/16/2003       06/19/2006       174,762     $ 3,537,104  
Wendell H. Murphy, Jr.
     06/19/2003       06/16/2003       06/19/2006       113,436     $ 2,295,893  
Wendy Murphy Crumpler
     06/19/2003       06/16/2003       06/19/2006       33,516     $ 678,349  
Joyce Murphy Minchew
     06/19/2003       06/16/2003       06/19/2006       59,866     $ 1,211,661  
Angela Norman Brown
     06/19/2003       06/16/2003       06/19/2006       18,420     $ 372,813  
Wendell H. Murphy
     07/15/2003       06/19/2003       07/15/2008       243,154     $ 4,783,952  
Wendell H. Murphy, Jr.
     07/15/2003       06/19/2003       07/15/2008       160,100     $ 3,149,900  
Wendy Murphy Crumpler
     07/15/2003       06/19/2003       07/15/2008       47,303     $ 930,666  
Joyce Murphy Minchew
     07/15/2003       06/19/2003       07/15/2008       84,494     $ 1,662,384  
Angela Norman Brown
     07/15/2003       06/19/2003       07/15/2008       25,998     $ 511,500  
Total
                             1,685,524     $ 28,452,189  

     As noted above, although the Reporting Persons have entered into the Forward Contracts and have pledged the shares of the Smithfield Common Stock listed above under the column “Shares Subject to Forward Contracts,” the Reporting Persons have retained all voting rights with respect to these shares and accordingly continue to be deemed the beneficial owners of such shares. As a result of the pledge of the shares, however, the Reporting Persons do not have dispositive power with respect to the pledged shares.

 

 

     
  CUSIP No. 832248 95 9   Page 14 of 19 Pages

Open Market Sales:

     Between May 28, 2003 and June 9, 2003, the following Reporting Persons sold shares of Smithfield Common Stock in transactions on the New York Stock Exchange (the “Open Market Sales”).

     The Open Market Sales of Wendell H. Murphy are as follows:

                           
Date of sale   Number of shares sold   Price per share   Gross Proceeds
 
 
   
05/28/2003
     37,533     $ 20.75     $ 778,810  
05/29/2003
     11,356     $ 20.7549     $ 235,693  
05/30/2003
     44,764     $ 20.9628     $ 938,379  
06/02/2003
     3,597     $ 21.016     $ 75,595  
06/05/2003
     19,701     $ 22.3228     $ 439,781  
06/06/2003
     86,021     $ 22.4325     $ 1,929,666  
06/09/2003
     23,945     $ 22.2766     $ 533,413  
 
Total
     226,917       —     $ 4,931,337  

     The Open Market Sales of Wendell H. Murphy, Jr. are as follows:

 

                           
Date of sale   Number of shares sold   Price per share   Gross Proceeds
 
 
 
05/28/2003
     24,303     $ 20.75     $ 504,287  
05/29/2003
     5,008     $ 20.7549     $ 103,941  
05/30/2003
     31,243     $ 20.9628     $ 654,941  
06/02/2003
     2,569     $ 21.016     $ 53,990  
06/05/2003
     12,036     $ 22.3228     $ 268,677  
06/06/2003
     55,683     $ 22.4325     $ 1,249,109  
06/09/2003
     16,446     $ 22.2766     $ 366,361  
 
Total
     147,288       —     $ 3,201,306  

     The Open Market Sales of Wendy Murphy Crumpler are as follows:

                           
Date of sale   Number of shares sold   Price per share   Gross Proceeds
 
 
 
05/28/2003
     7,180     $ 20.75     $ 148,985  
05/29/2003
     1,480     $ 20.7549     $ 30,717  
05/30/2003
     9,231     $ 20.9628     $ 193,508  
06/02/2003
     760     $ 21.016     $ 15,972  
06/05/2003
     3,556     $ 22.3228     $ 79,380  
06/06/2003
     16,452     $ 22.4325     $ 369,059  
06/09/2003
     4,859     $ 22.2766     $ 108,242  
 
Total
     43,518       —     $ 945,863  

     The Open Market Sales of Joyce Murphy Minchew are as follows:

 

                           
Date of sale   Number of shares sold   Price per share   Gross Proceeds
 
 
 
05/28/2003
     12,826     $ 20.75     $ 266,140  
05/29/2003
     2,643     $ 20.7549     $ 54,855  
05/30/2003
     16,489     $ 20.9628     $ 345,656  
06/02/2003
     1,356     $ 21.016     $ 28,498  

 

     
  CUSIP No. 832248 95 9   Page 15 of 19 Pages

 

06/05/2003
     6,352     $ 22.3228     $ 141,794  
06/06/2003
     29,387     $ 22.4325     $ 659,224  
06/09/2003
     8,679     $ 22.2766     $ 193,339  
 
Total
     77,732       —     $ 1,689,506  

     The Open Market Sales of Angela Norman Brown are as follows:

                           
Date of sale   Number of shares sold   Price per share   Gross Proceeds
 
 
 
05/28/2003
     3,946     $ 20.75     $ 81,880  
05/29/2003
     813     $ 20.7549     $ 16,874  
05/30/2003
     5,073     $ 20.9628     $ 106,344  
06/02/2003
     418     $ 21.016     $ 8,785  
06/05/2003
     1,954     $ 22.3228     $ 43,619  
06/06/2003
     9,042     $ 22.4325     $ 202,835  
06/09/2003
     2,671     $ 22.2766     $ 59,501  
 
Total
     23,917       —     $ 519,838  

Current Beneficial Ownership of the Reporting Persons:

     As of the date of this Amendment, the Reporting Persons beneficially own an aggregate of 17,174,345 shares of Smithfield Common Stock (such number includes 208 shares of Smithfield Common Stock owned directly by MurFam and 575,972 Additional Acquisition Shares). The shares beneficially owned by the Reporting Persons represent approximately 15.7% (assuming the receipt by the Reporting Persons of the Escrowed Acquisition Shares and the Additional Acquisition Shares referred to in the Schedule 13D) of the 109,730,431 shares of Smithfield Common Stock outstanding on September 5, 2003, as set forth in the Form 10-Q of Smithfield filed on September 10, 2003. The number of shares of Smithfield Common Stock beneficially owned by each Reporting Person is as follows:

                         
    Total Number of   Percentage of   Additional
    Shares Beneficially   Outstanding Common   Acquisition
Reporting Person   Owned   Stock   Shares2/
 
 
 
Wendell H. Murphy
     5,186,679       4.7 %     208,968  
Harry D. Murphy
     2,925,051       2.7 %     38,092  
Joyce Murphy Minchew
     1,782,629       1.6 %     76,318  
Wendell H. Murphy, Jr.
     3,396,120       3.1 %     145,621  
Wendy Murphy Crumpler
     999,019       0.9 %     43,748  
Stratton K. Murphy
     1,168,274       1.1 %     19,970  
Marc D. Murphy
     1,168,274       1.1 %     19,970  
Angela Norman Brown
     548,299       0.5 %     23,285  
Total
     17,174,345       15.70 %     575,972  

     Each Reporting Person has sole voting and dispositive power over those shares of Smithfield Common Stock individually beneficially owned by such Reporting Person and not pledged pursuant to the

    2/        The Additional Acquisition Shares are included in the Total Number of Shares Beneficially Owned column.

 

 

     
  CUSIP No. 832248 95 9   Page 16 of 19 Pages

Forward Contracts; each Reporting Person has shared voting and dispositive power over those shares of Smithfield Common Stock beneficially owned by such Reporting Person by virtue of such Reporting Person’s ownership interest in MurFam; and each Reporting Person has sole voting power (but no dispositive power) over those shares of Smithfield Common Stock beneficially owned by such Reporting Person pledged pursuant to the Forward Contracts, as follows:

                         
    Sole Voting and   Shared Voting and        
Reporting Person   Dispositive Power   Dispositive Power   Sole Voting Power
 
 
 
Wendell H. Murphy
     4,768,690       73       417,916  
Wendell H. Murphy, Jr.
     3,122,533       51       273,536  
Wendy Murphy Crumpler
     918,185       15       80,819  
Joyce Murphy Minchew
     1,638,243       26       144,360  
Angela Norman Brown
     503,873       8       44,418  
Harry D. Murphy
     2,565,501       17       359,533  
Stratton K. Murphy
     985,794       9       182,471  
Marc D. Murphy
     985,794       9       182,471  
Total
     15,488,613       208       1,685,524  

Item 6 Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

     Item 6 is hereby amended by adding the following information:

     Each of the Reporting Persons entered into the Forward Contracts described in Item 5 above pursuant to which they pledged the Number of Forward Contract Shares indicated above.

Item 7 Material to be Filed as Exhibits

     
Exhibit 1   Trade Confirmations dated March 14, 2003 from Merrill Lynch, Pierce, Fenner & Smith Incorporated to each of Marc D. Murphy, Stratton K. Murphy and Harry D. Murphy.
     
Exhibit 2   Form of ISDA Master Agreement dated February 27, 2003 between Merrill Lynch, Pierce, Fenner & Smith Incorporated and each of Marc D. Murphy, Stratton K. Murphy and Harry D. Murphy.
     
Exhibit 3   Variable Prepaid Forward Confirmation dated June 19, 2003 from Credit Suisse First Boston Capital LLC to each of Wendell H. Murphy, Wendell H. Murphy, Jr., Wendy Murphy Crumpler, Joyce Murphy Minchew and Angela Norman Brown.
     
Exhibit 4   Variable Prepaid Forward Confirmation dated July 15, 2003 from Credit Suisse First Boston Capital LLC to each of Wendell H. Murphy, Wendell H. Murphy, Jr., Wendy Murphy Crumpler, Joyce Murphy Minchew and Angela Norman Brown.
     
Exhibit 5   Form of Variable Prepaid Forward Agreement dated June 16, 2003 and June 19, 2003 between Credit Suisse First Boston Capital LLC and each of Wendell H. Murphy, Wendell H. Murphy, Jr., Wendy Murphy Crumpler, Joyce Murphy Minchew and Angela Norman Brown.

 

 

     
  CUSIP No. 832248 95 9   Page 17 of 19 Pages

Signature

     After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Amendment No. 2 to Schedule 13D is true, complete and correct.

Date: October 23, 2003

Wendell H. Murphy

/s/ Mark Roberts
Mark Roberts
Attorney-in-Fact

Harry D. Murphy

/s/ Mark Roberts
Mark Roberts
Attorney-in-Fact

Joyce Murphy Minchew

/s/ Mark Roberts
Mark Roberts
Attorney-in-Fact

Wendell H. Murphy, Jr.

/s/ Mark Roberts
Mark Roberts
Attorney-in-Fact

Wendy Murphy Crumpler

/s/ Mark Roberts
Mark Roberts
Attorney-in-Fact

Stratton K. Murphy

/s/ Mark Roberts
Mark Roberts
Attorney-in-Fact

 

 

     
  CUSIP No. 832248 95 9   Page 18 of 19 Pages

Marc D. Murphy

/s/ Mark Roberts
Mark Roberts
Attorney-in-Fact

Angela Norman Brown

/s/ Mark Roberts
Mark Roberts
Attorney-in-Fact

 

 

     
  CUSIP No. 832248 95 9   Page 19 of 19 Pages

EXHIBIT INDEX

Exhibit   Description
     
1   Confirmations dated March 14, 2003 from Merrill Lynch, Pierce, Fenner & Smith Incorporated to each of Marc D. Murphy, Stratton K. Murphy and Harry D. Murphy.
     
2   Form of ISDA Master Agreement dated February 27, 2003 between Merrill Lynch, Pierce, Fenner & Smith Incorporated and each of Marc D. Murphy, Stratton K. Murphy and Harry D. Murphy.
     
3   Variable Prepaid Forward Confirmation dated June 19, 2003 from Credit Suisse First Boston Capital LLC to each of Wendell H. Murphy, Wendell H. Murphy, Jr., Wendy Murphy Crumpler, Joyce Murphy Minchew and Angela Norman Brown.
     
4   Variable Prepaid Forward Confirmation dated July 15, 2003 from Credit Suisse First Boston Capital LLC to each of Wendell H. Murphy, Wendell H. Murphy, Jr., Wendy Murphy Crumpler, Joyce Murphy Minchew and Angela Norman Brown.
     
5   Form of Variable Prepaid Forward Agreement dated June 16, 2003 and June 19, 2003 between Credit Suisse First Boston Capital LLC and each of Wendell H. Murphy, Wendell H. Murphy, Jr., Wendy Murphy Crumpler, Joyce Murphy Minchew and Angela Norman Brown.
     
6   Joint Filing Agreement dated October 23, 2003 among Wendell H. Murphy, Harry D. Murphy, Joyce Murphy Minchew, Wendell H. Murphy, Jr., Wendy Murphy Crumpler, Stratton K. Murphy, Marc D. Murphy, and Angela Norman Brown.