First Acceptance Corp (FACO)

[Enterprising Investor]

Gerald Ford beneficially owns 49.6 percent (12/21/11)

Controls 23,811,694 shares.

As of 12/21/11, the Reporting Persons were the beneficial owners of 23,811,964 shares of Common Stock, which represents 49.6% of the outstanding shares of Common Stock. Because of his affiliation with Hunter’s Glen, Ford Diamond and Turtle Creek, Gerald J. Ford may be deemed to beneficially own 21,851,599 shares of Common Stock, which represents approximately 45.5% of the outstanding Common Stock. The aggregate number of shares of Common Stock owned by the Reporting Persons includes 1,960,365 shares of Common Stock owned by Jeremy B. Ford, the son of Gerald J. Ford. These percentage ownership numbers were calculated based upon 47,980,285 shares of Common Stock outstanding on December 21, 2011, according to information provided to the Reporting Persons by the Company.

On 12/02/11, Turtle Creek purchased 1,038,500 shares of Common Stock at $1.05 per share through a block purchase transaction for an aggregate cash purchase price of $1,111,195, including commissions. On 12/21/11, Hunter’s Glen purchased 6,699,999 shares of Common Stock at $1.45 per share in a privately negotiated transaction for an aggregate purchase price of $9,714,998.55. Except for the foregoing purchases, the Reporting Persons have not, and to the Reporting Person’s knowledge, without independent verification, none of the Officers have, effected any transactions in the securities of the Company during the past 60 days.

http://sec.gov/Archives/edgar/data/1017907/000119312511350951/d273264dsc13da.htm