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OMB APPROVAL
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OMB Number: 3235-0287
Expires: December 31, 2001
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[_] Check box if no longer subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Soghikian Shahan
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(Last) (First) (Middle)
Chase Venture Capital Associates, LLC (FNs 1,2)
380 Madison Avenue-12th Floor
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(Street)
New York New York 10017
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Digital Island, Inc. ("ISLD")
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
March 2000
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [_] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
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7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by one Reporting Person
[_] Form filed by more than one Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock N/A N/A N/A N/A N/A N/A 2,590,966 I (FNs I and
2)
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* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
(Form 4-07/99)
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FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
(1) Pursuant to an internal reorganization effective as of January 1, 2000, (i)
Chase Venture Capital Associates, LLC ("CVCA, LLC") became the successor to
Chase Venture Capital Associates, LP ("CVCA, LP"), (ii) CCP-SBIC Manager, LLC, a
newly organized wholly-owned subsidiary of Chase Capital Partners ("CCP"),
became the managing member of CVCA, LLC, and (iii) CCP-CMC Consolidating, LLC
("Consolidating"), a newly-organized affiliate of CCP, became the non-managing
member of CVCA, LLC. CCP became the managing member of Consolidating and
pursuant to a master advisory agreement with CCP-SBIC Manager, LLC and
Consolidating, the manager, by delegation, of CVCA, LLC. Prior to the internal
reorganization, CCP was the general partner of CVCA, LP. The internal
reorganization changed CVCA, LP's name and form of organization but did not
alter the proportionate interests of its ultimate security holders. As of March
13, 2000, Consolidating was dissolved and the sole member of Consolidating,
Chatham Ventures, Inc., became the non-managing member of CVCA, LLC. CCP remains
the manager, by delegation, of CVCA, LLC.
(2) A portion of the amounts shown may be deemed attributable to the reporting
person because the reporting person is a partner of Chase Capital Partners
("CCP"), which is (i) the sole managing member of CCP-SBIC Manager, LLC, the
managing member of CVCA, LLC, and (ii) the manager, by delegation, of CVCA, LLC.
The actual pro rata portion of such beneficial ownership that may be deemed
attributable to the reporting person is not readily determinable because it is
subject to several variables, including CVCA, LLC's internal rate of return and
vesting.
/s/ Shahan Soghikian 4/7/2000
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Shahan Soghikian Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
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