<PAGE> 1
OMB APPROVAL
OMB Number 3235-0145
Expires:October 31, 1994
Estimated average burden
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. _ )*
ARADIGM CORPORATION
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, no par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
038505 103
--------------------------
(CUSIP Number)
Thomas E. Siegler
c/o Donaldson, Lufkin & Jenrette, Inc.
277 Park Avenue
New York, New York 10172
(212) 892-4477
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
June 25, 1996
- --------------------------------------------------------------------------------
(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 / /.
Check the following box if a fee is being paid with the statement /x/. (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*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).
Exhibit index is located on page 19
Page 1 of 22
<PAGE> 2
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 2 OF 22 PAGES
---------------- --- ------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sprout Capital VI, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
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 7 SOLE VOTING POWER
SHARES 374,125
BENEFICIALLY ---------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH -0-
REPORTING ---------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
374,125
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
374,125 -- See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.7% -- See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 3
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 3 OF 22 PAGES
---------------- --- ------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sprout Capital VII, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
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 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 640,823
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
640,823
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
640,823 -- See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.4% -- See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 4
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 4 OF 22 PAGES
---------------- --- ------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DLJ Capital Corporation
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC,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 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,073,644
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,073,644
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,073,644 -- See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7% -- See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 5
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 5 OF 22 PAGES
---------------- --- ------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Donaldson, Lufkin & Jenrette, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
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 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,073,644
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,073,644
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,073,644 -- See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7% -- See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC,CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 6
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 6 OF 22 PAGES
---------------- --- ------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Equitable Companies Incorporated
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
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 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,073,644
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,073,644
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,073,644 -- See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7% -- See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO,HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 7
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 7 OF 22 PAGES
---------------- --- ------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AXA
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
France
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,073,644
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,073,644
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,073,644 -- See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7% -- See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO,HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 8
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 8 OF 22 PAGES
---------------- --- ------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Finaxa
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
France
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,073,644
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,073,644
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,073,644 -- See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7% -- See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC,CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 9
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 9 OF 22 PAGES
---------------- --- ------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AXA Assurances I.A.R.D. Mutuelle
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
France
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,073,644
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,073,644
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,073,644 -- See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7% -- See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 10
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 10 OF 22 PAGES
---------------- ---- ------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AXA Assurances Vie Mutelle
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
France
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,073,644
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,073,644
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,073,644 -- See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7% -- See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 11
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 11 OF 22 PAGES
---------------- ---- ------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Uni Europe Assurance Mutuelle
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
France
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,073,644
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,073,644
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,073,644 -- See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7% -- See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 12
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 12 OF 22 PAGES
---------------- ---- ------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Alpha Assurances Vie Mutuelle
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
France
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,073,644
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,073,644
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,073,644 -- See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7% -- See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 13
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 13 OF 22 PAGES
---------------- ---- ------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Alpha Assurances I.A.R.D. Mutuelle
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
France
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,073,644
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,073,644
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,073,644 -- See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7% -- See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 14
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 14 OF 22 PAGES
---------------- ---- ------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Claude Bebear, as AXA Voting Trustee
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
France
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,073,644
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,073,644
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,073,644 -- See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7% -- See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 15
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 15 OF 22 PAGES
---------------- ---- ------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Patrice Garnier, as AXA Voting Trustee
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
France
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,073,644
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,073,644
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,073,644 -- See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7% -- See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 16
SCHEDULE 13D
CUSIP NO. 038505 103 PAGE 16 OF 22 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Henri de Clermont-Tonneire, as AXA Voting Trustee
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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*
Not applicable
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5 CHECK BOX 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
France
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,073,644
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
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9 SOLE DISPOSITIVE POWER
1,073,644
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10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,073,644 -- See Item 5
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7% -- See Item 5
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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ITEM 1. SECURITY AND ISSUER
This Schedule 13D relates to shares of common stock, no par value (the
"Shares"), of Aradigm Corporation, a California corporation (the "Issuer"). The
address of the principal executive office of the Issuer is 26219 Eden Landing
Road, Hayward, California 94545.
The information set forth in the Exhibits hereto is hereby expressly
incorporated herein by reference and the responses to each item of this Schedule
13D are qualified in their entirety by the provisions of such Exhibits.
ITEM 2. IDENTITY AND BACKGROUND
This Schedule 13D is being filed jointly on behalf of the following persons
(collectively, the "Reporting Persons"): (1) Sprout Capital VI, L.P., a
Delaware limited partnership ("Sprout VI"), (2) Sprout Capital VII, L.P., a
Delaware limited partnership ("Sprout VII"), (3) DLJ Capital Corporation, a
Delaware corporation ("DLJCC"), (4) Donaldson, Lufkin & Jenrette, Inc., a
Delaware corporation ("DLJ"), (5) The Equitable Companies Incorporated, a
Delaware corporation ("Equitable"), (6) AXA, a societe anonyme organized under
the laws of France, (7) Finaxa, a societe anonyme organized under the laws of
France, (8) AXA Assurances I.A.R.D. Mutuelles, a mutual insurance company
organized under the laws of France, (9) AXA Assurances Vie Mutuelle, a mutual
insurance company organized under the laws of France, (10) Uni Europe Assurance
Mutuelle, a mutual insurance company organized under the laws of France, (11)
Alpha Assurances Vie Mutuelle, a mutual insurance company organized under the
laws of France, (12) Alpha Assurances I.A.R.D. Mutuelle, a mutual insurance
company organized under the laws of France, and (13) Claude Bebear, Patrice
Garnier and Henri de Clermont-Tonnerre, trustees (the "AXA Voting Trustees") of
a voting trust (the "AXA Voting Trust") established pursuant to a Voting Trust
Agreement by and among AXA and the AXA Voting Trustees dated as of May 12, 1992.
Sprout VI is a Delaware limited partnership formed to invest in securities for
long-term appreciation. DLJCC is the managing general partner of Sprout VI and
makes all of the investment and voting decisions on the part of Sprout VI.
Sprout VII is a Delaware limited partnership formed to invest in securities for
long-term appreciation. DLJCC is the managing general partner of Sprout VII
and makes all of the investment and voting decisions on the part of Sprout VII.
DLJCC is a Delaware corporation formed to make investments in industrial and
other companies to participate in the management of venture capital pools. DLJCC
is a wholly owned subsidiary of DLJ.
DLJ is a publicly-held Delaware corporation. DLJ directly owns all of the
capital stock of DLJCC. DLJ, acting on its own behalf or through its
subsidiaries, is a registered broker/dealer and registered investment adviser
engaged in investment banking, institutional trading and research, investment
management and financial and correspondent brokerage services. Equitable
directly owns 44.1% of DLJ, and The Equitable Life Assurance Society of the
United States, a New York stock life insurance company wholly owned by
Equitable, indirectly owns 36.1% of DLJ.
Equitable is a Delaware corporation and is a holding company. As of April 30,
1996 approximately 60.7% of the outstanding common stock as well as certain
convertible preferred stock of Equitable was beneficially owned by AXA. For
insurance regulatory purposes, to insure that certain indirect minority
shareholders of AXA will not be able to exercise control over Equitable and
certain of its insurance subsidiaries, the voting shares of Equitable capital
stock beneficially owned by AXA and its subsidiaries have been deposited into
the AXA Voting Trust. For additional information regarding the AXA Voting
Trust, reference is made to the Schedule 13D filed by AXA with respect to
Equitable.
AXA is a societe anonyme organized under the laws of France and a holding
company for an international group of insurance and related financial services
companies.
Finaxa is a societe anonyme organized under the laws of France and is a holding
company. As of May 9, 1996, Finaxa owned 29.9% of the issued shares
(representing approximately 39.6% of the voting power) of AXA.
Each of AXA Assurances I.A.R.D. Mutuelle, AXA Assurances Vie Mutuelle, Uni
Europe Assurance Mutuelle, Alpha Assurances Vie Mutuelle, and Alpha Assurances
I.A.R.D. Mutuelle (collectively, the "Mutuelles AXA") is a mutual insurance
company organized under the laws of France. The Mutuelles AXA are owned by
approximately 1.5 million policy holders. As of May 9, 1996, the Mutuelles
AXA, as a group, control, directly and indirectly through intermediate holding
companies, approximately 40.1% of the issued shares (representing approximately
46.2% of the voting power) of AXA. AXA is indirectly controlled by the
Mutuelles AXA, acting as a group.
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Claude Bebear, Patrice Garnier and Henri de Clermont-Tonnerre, the AXA Voting
Trustees, exercise all voting rights with respect to the shares of Equitable
capital stock beneficially owned by AXA and its subsidiaries that have been
deposited in the AXA Voting Trust. The business address, citizenship, and
present and principal occupation of each of the AXA Voting Trustees is set
forth on Schedule D attached hereto.
The address of the principal business and office of each of Sprout VI, Sprout
VII, DLJCC and DLJ is 277 Park Avenue, New York, NY 10172. The address of the
principal business and principal office of Equitable is 787 Seventh Avenue, New
York, New York 10019.
The address of the principal business and principal office of each of AXA,
Finaxa and the AXA Voting Trustees is 23, avenue Matignon, 75008 Paris, France;
of each of AXA Assurances I.A.R.D. Mutuelle and AXA Assurances Vie Mutuelle is
21/25, rue de Charteaudun, 75009 Paris, France; of each of Alpha Assurances
I.A.R.D. Mutuelle and Alpha Assurances Vie Mutuelle is Tour Franklin, 100/101
Terrasse Boildieu, 92042 Paris La Defense, France; and of Uni Europe Assurance
Mutuelle is 24, rue Druout, 75009 Paris, France.
The name, business address, citizenship, present and principal occupation or
employment, and the name and business address of any corporation or
organization in which each such employment is conducted, of each executive
officer or member, as applicable, of the Board of Directors or the Conseil
d'Administration (French analogue of a Board of Directors) of DLJCC, DLJ,
Equitable, AXA, Finaxa, and the Mutuelles AXA are set forth on Schedule A
through Schedule J, respectively, attached hereto.
During the past five (5) years, neither any of the Reporting Persons nor, to
the best knowledge of any of the Reporting Persons, any of the other persons
listed on Schedules A through Schedule J attached hereto, has been (i)
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or (ii) a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to United
States federal or state securities laws or finding any violation with respect
to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The aggregate amount of funds used by each of Sprout VI, Sprout VII and DLJCC
to purchase the Shares was $1,638,184, $2,805,771 and $256,348, respectively.
These amounts assume the transfer of 564,472 Shares to Sprout VII from DLJCC on
August 15, 1995. The funds used by each Sprout VI, Sprout VII and DLJCC to
purchase the Shares came from each of their general investment capital. No
funds of any of DLJ, Equitable, AXA, Finaxa, the Mutuelles AXA or the AXA
Voting Trustees were used to purchase the Shares.
ITEM 4. PURPOSE OF TRANSACTION
Each of the Reporting Persons acquired the Shares beneficially owned directly
by such person for investment. In addition, except as qualified by Item 6
below, depending on market conditions and other considerations, the Reporting
Persons may acquire additional Shares or other securities of the Issuer if such
Shares or securities become available at prices that are attractive to the
Reporting Persons. On the other hand, except as qualified by Item 6 below,
depending on market conditions and other considerations, the Reporting Persons
may dispose of all or a portion of the Shares or other securities they now own
or may hereinafter acquire.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Sprout VI may be deemed to be the beneficial owner of the 374,125 Shares (the
"Sprout VI Shares") directly owned by it, or approximately 3.7% of the Shares
outstanding. Sprout VI has the sole power to vote and the sole power to
dispose of the Sprout VI Shares directly owned by it.
Sprout VII may be deemed to be the beneficial owner of the 640,823 Shares (the
"Sprout VII Shares") directly owned by it, or approximately 6.4% of the Shares
outstanding. Sprout VII has the sole power to vote and the sole power to
dispose of the Sprout VII Shares directly owned by it.
DLJCC may be deemed to be the beneficial owner of the 58,696 Shares directly
owned by it, or approximately 0.6% of the Shares outstanding. DLJCC, as the
managing general partner of each Sprout VI and Sprout VII, also may be deemed,
for the purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as
amended (the "Act"), to beneficially own indirectly the Sprout VI Shares and
the Sprout VII Shares, for a total of 1,073,644 Shares (collectively, the
"DLJCC Shares"), or approximately 10.7% of the Shares outstanding. DLJCC has
the sole power to vote and the sole power to dispose of the Shares directly
owned by it.
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As the sole stockholder of DLJCC, DLJ may be deemed, for the purposes of Rule
13d-3 under the Act, to beneficially own indirectly the DLJCC Shares. Because
of Equitable's ownership of DLJ, Equitable may be deemed, for purposes of Rule
13d-3 under the Act, to beneficially own indirectly the DLJCC Shares that may
be deemed to be beneficially owned indirectly by DLJ.
The Reporting Persons, in the aggregate, may be deemed to beneficially own
1,073,633 or approximately 10.74% of the Shares outstanding. The percentage of
Shares outstanding reported as beneficially owned by each person herein on the
date hereof is based upon 10,068,410 Shares outstanding as stated by the Issuer
in its Prospectus dated June 19, 1996.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
The information set forth in Items 3 and 4 above is hereby incorporated herein
by reference.
Sprout VI, Sprout VII and DLJCC are parties to a Lock-Up Agreement with Cowen &
Company, Oppenheimer & Co., Inc. and Invemed Associates, Inc., as
representatives of the several underwriters of the Issuer's initial public
offering of common stock (the "IPO"). The Lock-Up Agreement prohibits Sprout
VI, Sprout VII and DLJCC from offering, selling, disposing of, lending,
pledging or granting any rights in its Shares prior to the expiration of 180
days after the effectiveness of the registration statement filed in connection
with the IPO, subject to certain exceptions, without the prior written consent
of Cowen & Company.
Sprout VI, Sprout VII and DLJCC are parties to an Amended and Restated Investor
Rights Agreement (the "Rights Agreement") entered into as of December 22, 1995,
by and among the Issuer and the investors listed on Exhibit A thereto.
Pursuant to the Rights Agreement, the Issuer has granted certain demand and
piggyback registration rights to the investors (including Sprout VI, Sprout VII
and DLJCC) for a period ending five years after the IPO.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
The following have been filed as Exhibits to this Schedule 13D:
1. Joint Filing Agreement
*2. Amended and Restated Investor Rights Agreement
3. Lock-Up Agreement
____________________
* Incorporated by reference from the Issuer's Registration Statement on Form
S-1 (Registration No. 333-4236), as filed with the Securities and Exchange
Commission on April 30, 1996.
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SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the information set forth in this statement is true, complete and
correct.
Dated:
SPROUT CAPITAL VI, L.P.
By: DLJ Capital Corporation
Its: Managing General Partner
/S/Thomas E. Siegler
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Thomas E. Siegler
Secretary and Treasurer
SPROUT CAPITAL VII, L.P.
By: DLJ Capital Corporation
Its: Managing General Partner
/S/Thomas E. Siegler
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Thomas E. Siegler
Secretary and Treasurer
DLJ CAPITAL CORPORATION, INC.
/S/Thomas E. Siegler
------------------------------------
Thomas E. Siegler
Secretary and Treasurer
DONALDSON, LUFKIN & JENRETTE, INC.
/S/Thomas E. Siegler
------------------------------------
Thomas E. Siegler
20
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SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the information set forth in this statement is true, complete and
correct.
Dated:
THE EQUITABLE COMPANIES INCORPORATED
/S/Joanne T. Marren
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Joanne T. Marren
Senior Vice President and Deputy General Counsel
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SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the information set forth in this statement is true, complete and
correct.
Dated:
AXA
Finaxa
AXA Assurances I.A.R.D. Mutuelle
AXA Assurances Vie Mutuelle
Uni Europe Assurance Mutuelle
Alpha Assurances I.A.R.D. Mutuelle
Alpha Assurances Vie Mutuelle
Claude Bebear, as AXA Voting Trustee
Patrice Garnier, as AXA Voting Trustee
Henri Clermont-Tonnerre, as AXA Voting Trustee
/S/Joanne T. Marren
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Joanne T. Marren
Attorney-in-fact
22
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SCHEDULE A
Executive Officers and Directors
of
DLJ Capital Corporation
The names of the Directors and the names and titles of the Executive
Officers of DLJ Capital Corporation ("DLJCC") and their business addresses and
principal occupations are set forth below. Each Director's or Executive
Officer's business address is that of DLJCC at 277 Park Avenue, New York, New
York 10172. Unless otherwise indicated, each occupation set forth opposite an
individual's name refers to DLJCC and each individual is a United States
citizen.
Name, Business Address Present Principal Occupation
* Richard E. Kroon President and Chief Executive Officer
* Anthony F. Daddino Vice President; Executive Vice President and Chief
Financial officer, Donaldson, Lufkin & Jenrette,
Inc.
* Thomas E. Siegler Secretary and Treasurer; Senior Vice President and
Secretary, Donaldson, Lufkin & Jenrette, Inc.
______________________________
* Director
<PAGE> 24
SCHEDULE B
Executive Officers and Directors
of
Donaldson, Lufkin & Jenrette, Inc.
The names of the Directors and the names and titles of the Executive
Officers of Donaldson, Lufkin & Jenrette, Inc. ("DLJ") and their business
addresses and principal occupations are set forth below. If no address is
given, the Director's or Executive Officer's business address is that of DLJ at
277 Park Avenue, New York, New York 10172. Unless otherwise indicated, each
occupation set forth opposite an individual's name refers to DLJ and each
individual is a United States citizen.
Name, Business Address Present Principal Occupation
* John S. Chalsty Chairman and Chief Executive Officer; Chairman and
Chief Executive Officer, Donaldson, Lufkin &
Jenrette, Inc.
* Joe L. Roby President and Chief Operating Officer; President
and Chief Operating Officer, Donaldson, Lufkin &
Jenrette, Inc.
* Claude Bebear (1) Chairman and Chief Executive Officer, AXA
AXA
23, avenue Matignon
75008 Paris, France
* Henri de Castries (1) Executive Vice President Financial Services and
AXA Life Insurance Activities, AXA
23, avenue Matignon
75008 Paris, France
* Kevin Dolan Executive Vice President, AXA Asset Management
AXA Asset Management
40, rue de Collissee
75008 Paris, France
* Louis Harris Chairman and Chief Executive Officer, LH Research
LH Research (research)
152 East 38th Street
New York, New York
10016-2605
* Henri G. Hottingeur (2) Chairman and Chief Executive Officer, Banque
Banque Hottingeur Hottingeur (banking)
38, rue de Provence
75009 Paris, France
* W. Edwin Jarmain (3) President, Jarmain Group Inc. (private investment
Jarmain Group Inc. holding company)
95 Wellington Street
West Suite 805
Toronto, Canada
* Francis Jungers Retired Chairman, Arabian American Oil Company (oil
19880 NW Nestucca industry)
Drive
Portland, Oregon 97229
<PAGE> 25
* Joseph J. Melone President and Chief Executive Officer,
The Equitable Companies The Equitable Companies Incorporated
Incorporated
787 Seventh Avenue
New York, New York 10019
* W. J. Sanders, III Chairman and Chief Executive Officer,
Advanced Micro Devices, Inc. Advanced Micro Devices
901 Thompson Place
Sunnyvale, CA 94086
* Jerry M. de St. Paer Executive Vice President and Chief
The Equitable Companies Financial Offier, The Equitable
Incorporated Companies Incorporated
787 Seventh Avenue
New York, New York 10019
* John C. West Former Ambassador to Saudi Arabia
Bothea, Jordan & Griffin
23B Shelter Cove
Hilton Head Island, SC 29928
* Carl B. Menges Vice Chairman of the Board
* Hamilton E. James Managing Director
* Richard S. Pechter Managing Director
* Theodore P. Shen Managing Director
* Anthony F. Daddino Executive Vice President and
Chief Financial Offier
* Robert J. Albano Senior Vice President and Director of
Compliance and Regulatory Affairs
Michael M. Bendik Senior Vice President and Chief
Accounting Officer
Michael A. Boyd Senior Vice President and General
Counsel
Joseph D. Donnelly Senior Vice President and Associate
One Pershing Plaza General Counsel
Jersey City, NJ 07599
Stuart S. Flamberg Senior Vice President and Director of
Taxes
Roy A. Garman Senior Vice President and Controller
Charles J. Hendrickson Senior Vice President and Treasurer
Gerald B. Rigg Senior Vice President and Director of
Human Resources
Thomas E. Siegler Senior Vice President and Secretary
Lucia D. Swanson Senior Vice President and Associate
General Counsel
______________________________
* Director
(1) Citizen of the Republic of France
(2) Citizen of Switzerland
(3) Citizen of Canada
<PAGE> 26
SCHEDULE C
Executive Officers and Directors
of
The Equitable Companies Incorporated
The names of the Directors and the names and titles of the Executive
Officers of The Equitable Companies Incorporated ("Equitable") and their
business addresses and principal occupations are set forth below. If no address
is given, the Director's or Executive Officer's business address is that of
Equitable at 787 Seventh Avenue, New York, New York 10019. Unless otherwise
indicated, each occupation set forth opposite an individual's name refers to
Equitable and each individual is a United States citizen.
Name, Business Address Present Principal Occupation
* Claude Bebear(1) Chairman of the Board; Chairman and
AXA Chief Executive Officer, AXA
23, avenue Matignon
75008 Paris, France
* James M. Benson Senior Executive Vice President and
Chief Operating Officer; President and
Chief Executive Officer, The Equitable
Life Assurance Society of the United
States
* Henri de Castries (1) Vice Chairman of the Board; Executive
AXA Vice President Financial Services and
23 avenue Matignon Life Insurance Activities (outside
75008 Paris, France of France)
* John S. Chalsty Chairman and Chief Executive Officer,
Donaldson, Lufkin & Donaldson, Lufkin & Jenrette, Inc.
Jenrette, Inc.
277 Park Avenue
New York, NY 10172
Jerry M. de St. Paer Senior Executive Vice President and
Chief Financial Officer; Executive Vice
President, The Equitable Life Assurance
Society of the United States
* Joseph L. Dionne Chairman and Chief Executive Officer,
The McGraw Hill Companies The McGraw Hill Companies (publishing)
1221 Avenue of the Americas
New York, NY 10020
* William T. Esrey Chairman of the Board and Chief
Sprint Corporation Executive Officer, The Sprint
P.O. Box 11315 Corporation (telecommunications)
Kansas City, MO 64112
* Jean-Rene Fourtou(1) Chairman and Chief Executive Officer,
Rhone-Poulenc S.A. Rhone-Poulenc S.A. (industry)
25 quai Paul Doumer
92408 Courbevoie,
France
Robert E. Garber Executive Vice President and General
Counsel
<PAGE> 27
* Donald J. Greene Partner, LeBoeuf, Lamb, Greene &
LeBoeuf, Lamb, Greene & MacRae MacRae (law firm)
125 West 55th Street
New York, NY 10019
* Anthony Hamilton(2) Group Chairman and Chief Executive
35 Wilson Street Officer, Fox-Pitt, Kelton Group Limited
London, England EC2M 2SJ (Finance)
* John T. Hartley Retired Chairman and Chief Executive
Harris Corporation Officer, Harris Corporation (manufacture
1025 Nasa Boulevard of electronic, telephone and copying
Melbourne, FL 32919 systems)
* John H.F. Haskell, Jr. Director and Managing Director, Dillon,
Dillon, Read & Co., Inc. Read & Co., Inc. (investment banking
535 Madison Avenue firm)
New York, NY 10028
* W. Edwin Jarmain (3) President, Jarmain Group Inc. (private
Jarmain Group Inc. investment holding company)
95 Wellington St. West
Suite 805
Toronto, Ontario M5J 2N7
Canada
* Winthrop Knowlton Chairman, Knowlton Brothers, Inc.
Knowlton Brothers, Inc. (private investment firm); President and
530 Fifth Avenue Chief Executive Officer, Knowlton
New York, NY 10036 Associates, Inc. (consulting firm)
* Arthur L. Liman Partner, Paul, Weiss, Rifkind, Wharton &
Paul, Weiss, Rifkind, Garrison (law firm)
Wharton & Garrison
1285 Avenue of the Americas
New York, NY 10019
Joanne T. Marren Senior Vice President and Deputy General
Counsel
William T. McCaffrey Executive Vice President and Chief
Administrative Officer; Senior Executive
Vice President and Chief Operating
Officer, The Equitable Life Assurance
Society of the United States
* Joseph J. Melone Chief Executive Officer and President;
Chairman of the Board, The Equitable
Life Assurance Society of the United
States
Peter D. Noris Executive Vice President and Chief
Investment Officer; Executive Vice
President and Chief Investment Officer,
The Equitable Life Assurance Society of
the United States
* Didier Pineau-Valencienne Chairman and Chief Executive Officer,
64-70, avenue Jean Baptiste Schneider S.A. (electric equipment)
Clementa 92646 Boulogne
Cedex, France
* George J. Sella, Jr. Retired Chairman, President and Chief
American Cyanamid Company Executive Officer, American Cyanamid
P.O. Box 3017 Company (manufacturer pharmaceutical
Newton, NJ 07860 products and agricultural products)
Jose Suquet Executive Vice President; Executive Vice
President and Chief Agency Officer; The
Equtiable Life Assurance Society of the
United States
<PAGE> 28
Stanley B. Tulin Executive Vice President; Senior
Executive Vice President and Chief
Financial Officer, The Equitable
Companies Incorporated
* Dave H. Williams Chairman and Chief Executive Officer,
Alliance Capital Alliance Capital Management Corp.
Management Corporation (investment company)
1345 Avenue of the Americas
New York, NY 10105
______________________________
* Director
(1) Citizen of the Republic of France
(2) Citizen of United Kingdom
(3) Citizen of Canada
<PAGE> 29
SCHEDULE D
Executive Officers and
Members of Conseil d'Administration
of
AXA
The names of the Members of Conseil d'Administration and the names and
titles of the Executive Officers of AXA and their business addresses and
principal occupations are set forth below. If no address is given, the Member's
or Executive Officer's business address is that of AXA at 23, avenue Matignon,
75008 Paris, France. Unless otherwise indicated, each occupation set forth
opposite an individual's name refers to AXA and each individual is a citizen of
the Republic of France.
Name, Business Address Present Principal Occupation
* Claude Bebear Chairman and Chief Executive Officer
* Antoine Bernheim Chairman and Chief Executive Officer,
Piazza Duca Degli Abruzzi 2 Assicurazioni Generali S.p.A.
34132 Trieste, Italy (insurance)
Henri de Castries Executive Vice President, Financial
Services and Life Insurance Activities
(outside of France)
Francoise Colloc'h Executive Vice President, Human
Resources and Public Relations
* Henri de Clermont-Tonnerre Chairman, Societe d'Armement et de
90, rue de Miromesnil Navigation Charles Schiaffino
75008 Paris, France (transportation)
* David Dautresme Partner and Managing Director Lazard
121, boulevard Haussman Freres et Cie (investment banking)
75008 Paris, France
* Jean-Rene Fourtou Chairman and Chief Executive Officer,
25, quai Paul Doumer Rhone-Poulenc S.A. (industry)
92408 Courbevoie, France
* Michel Francois-Poncet Chairman of the Supervisory Board of
3, rue d'Autin Paribas Compagnie Financiere Paribas and Banque
75002 Paris, France (financial services and banking)
* Patrice Garnier Retired
* Gianfranco Gutty(1) Director and Executive Officer,
Piazza Duca Degli Abruzzi 2 Assicurazioni Generali S.p.A.
34132 Trieste, Italy (insurance)
* Anthony Hamilton(3) Group Chairman and Chief Executive
35 Wilson Street Officer, Fox-Pitt, Kelton Group Limited
London, England EC2M 2SJ (France)
* Henri Hottinguer(2) Chairman and Chief Executive Officer,
38, rue de Provence Banque Hottinguer (banking)
75009 Paris, France
<PAGE> 30
* Richard H. Jenrette(4) Retired
787 Seventh Avenue
New York, New York 10019
* Henri Lachmann Chairman and Chief Executive Officer,
56, rue Jean Giraudoux Strafor Facom (office furniture)
67000 Strasbourg, France
Gerard de la Martiniere Executive Vice President, Corporate
Finance and Administrative Services
* Didier Pineau-Valencienne Chief Executive Officer, Schneider S.A.
64-70, avenue Jean Baptiste Clement (electric equipment)
92646 Boulogne Cedex, France
Claude Tendil Executive Vice President, Insurance
Activities (in France) and Non-Life and
Composite Insurance Activities (outside
of France)
______________________________
* Member, Conseil d'Administration
(1) Citizen of Italy
(2) Citizen of Switzerland
(3) Citizen of the United Kingdom
(4) Citizen of the United States of America
<PAGE> 31
SCHEDULE E
Executive Officers and
Members of Conseil d'Administration
of
FINAXA
The names of the Members of Conseil d'Administration and the names and
titles of the Executive Officers of Finaxa and their business addresses and
principal occupations are set forth below. If no address is given, the Member's
or Executive Officer's business address is that of Finaxa at 23, avenue
Matignon, 75008 Paris, France. Unless otherwise indicated, each occupation set
forth opposite an individual's name refers to Finaxa and each individual is a
citizen of the Republic of France.
Name, Business Address Present Principal Occupation
* Claude Bebear Chairman and Chief Executive Officer;
Chairman and Chief Executive Officer,
AXA
* Henri de Castries Executive Vice President, Financial
Services and Life Insurance Activities
(outside of France), AXA
* Henri de Clermont-Tonnerre Chairman, Societe d'Armement et de
90, rue de Miromesnil Navigation Charles Schiaffino
75008 Paris, France (transportation)
* Jean-Rene Fourtou Chairman and Chief Executive Officer,
25, quai Paul Doumer Rhone-Poulenc S.A. (industry)
92408 Courbevoie, France
* Patrice Garnier Retired
* Henri Hottinguer(1) Chairman and Chief Executive Officer,
38, rue de Provence Banque Hottinguer (banking)
75009 Paris, France
* Paul Hottinguer(1) Assistant Chairman and Chief Executive
38, rue de Provence Officer, Banque Hottinguer (banking)
75009 Paris, France
* Henri Lachmann Chairman and Chief Executive Officer,
56, rue Jean Giraudoux Strafor Facom (office furniture)
67000 Strasbourg, France
* Georges Rousseau Chairman, Apave Normandies (consulting)
2, rue des Mouettes
76130 Mont Saint Aignan, France
_____________________________________
* Member, Conseil d'Administration
(1) Citizen of Switzerland
<PAGE> 32
SCHEDULE F
Executive Officers and
Members of Conseil d'Administration
of
AXA ASSURANCES I.A.R.D. MUTUELLE
The names of the Members of Conseil d'Administration and the names and
titles of the Executive Officers of AXA Assurances I.A.R.D. Mutuelle and their
business addresses and principal occupations are set forth below. If no address
is given, the Member's or Executive Officer's business address is that of AXA
Assurances I.A.R.D. Mutuelle at 21/25, rue de Chateaudun, 75009 Paris, France.
Unless otherwise indicated, each occupation set forth opposite an individual's
name refers to AXA Assurances I.A.R.D. Mutuelle and each individual is a citizen
of the Republic of France.
Name, Business Address Present Principal Occupation
* Claude Bebear Chairman and Chief Executive Officer;
23, avenue Matignon Chairman and Chief Executive Officer,
75008 Paris, France AXA
Jean-Luc Bertozzi Assistant Chief Executive Officer
21/25, rue de Chateaudun
75009 Paris, France
* Henri de Castries Executive Vice President, Financial
23, avenue Matignon Services and Life Insurance Activities
75008 Paris, France (outside of France), AXA
* Jean-Pierre Chaffin Manager, Federation de la Metallurgie
5, rue la Bruyere (industry)
75009 Paris, France
* Gerard Coutelle Retired
* Jean-Rene Fourtou Chairman and Chief Executive Officer,
25, quai Paul Doumer Rhone-Poulenc S.A. (industry)
92408 Courbevoie, France
* Patrice Garnier Retired
* Henri Lachmann Chairman and Chief Executive Officer,
56, rue Jean Giraudoux Strafor Facom (office furniture)
67000 Strasbourg, France
* Francoise Richer Retired
* Georges Rousseau Chairman, Apave Normandies (consulting)
2, rue des Mouettes
76130 Mont Saint Aignan, France
* Claude Tendil General Manager; Executive Vice
23, avenue Matignon President, Insurance Activities (in
75008 Paris, France France) and Non-Life and Composite
Insurance Activities (outisde of France)
<PAGE> 33
* Nicolas Thiery Chairman and Chief Executive Officer,
6 Cite de la Chapelle Establissements Jaillard (management
75018 Paris, France consulting)
* Francis Vaudour Chief Executive Officer, Segafredo
14, boulevard Industriel Zanetti France S.A. (coffee importing
76301 Sotteville les Rouen, France and processing)
______________________________
* Member, Conseil d'Administration
<PAGE> 34
SCHEDULE G
Executive Officers and
Members of Conseil d'Administration
of
AXA ASSURANCES VIE MUTUELLE
The names of the Members of Conseil d'Administration and the names and
titles of the Executive Officers of AXA Assurances Vie Mutuelle and their
business addresses and principal occupations are set forth below. If no address
is given, the Member's or Executive Officer's business address is that of AXA
Assurances Vie Mutuelle at 21/25, rue de Chateaudun, 75009 Paris, France.
Unless otherwise indicated, each occupation set forth opposite an individual's
name refers to AXA Assurances Vie Mutuelle and each individual is a citizen of
the Republic of France.
Name, Business Address Present Principal Occupation
* Claude Bebear Chairman and Chief Executive Officer;
23, avenue Matignon Chairman and Chief Executive Officer,
75008 Paris, France AXA
Jean-Luc Bertozzi Assistant Chief Executive Officer
21/25, rue de Chateaudun
75009 Paris, France
* Henri de Castries Executive Vice President, Financial
23, avenue Matignon Services and Life Insurance Activities
75008 Paris, France (outside of France), AXA
* Jean-Pierre Chaffin Manager, Federation de la Metallurgie
5, rue la Bruyere (industry)
75009 Paris, France
* Henri de Clermont-Tonnerre Chairman, Societe d'Armement et de
90, rue de Miromesnil Navigation Charles Schiaffino
75008 Paris, France (transportation)
* Gerard Coutelle Retired
* Jean-Rene Fourtou Chairman and Chief Executive Officer,
25, quai Paul Doumer Rhone-Poulenc S.A. (industry)
92408 Courbevoie, France
* Henri Lachmann Chairman and Chief Executive Officer,
56, rue Jean Giraudoux Strafor Facom (office furniture)
67000 Strasbourg, France
* Francoise Richer Retired
* Georges Rousseau Chairman, Apave Normandies (consulting)
2, rue des Mouettes
76130 Mont Saint Aignan, France
* Claude Tendil General Manager; Executive Vice
23, avenue Matignon President, Insurance Activities (in
75008 Paris, France France) and Non-Life Composite Insurance
Activities (outside of France)
<PAGE> 35
* Nicolas Thiery Chairman and Chief Executive Officer,
6 Cite de la Chapelle Establissements Jaillard (management
75018 Paris, France consulting)
* Francis Vaudour Chief Executive Officer, Segafredo
14, boulevard Industriel Zanetti France S.A. (coffee importing
76301 Sotteville les Rouen, France and processing)
_____________________________
* Member, Conseil d'Administration
<PAGE> 36
SCHEDULE H
Executive Officers and
Members of Conseil d'Administration
of
UNI EUROPE ASSURANCE MUTUELLE
The names of the Members of Conseil d'Administration and the names and
titles of the Executive Officers of Uni Europe Assurance Mutuelle and their
business addresses and principal occupations are set forth below. If no address
is given, the Member's or Executive Officer's business address is that of Uni
Europe Assurance Mutuelle at 24, rue Druout, 75009 Paris, France. Unless
otherwise indicated, each occupation set forth opposite an individual's name
refers to Uni Europe Assurance Mutuelle and each individual is a citizen of the
Republic of France.
Name, Business Address Present Principal Occupation
* Claude Bebear Chairman and Chief Executive Officer;
23, avenue Matignon Chairman and Chief Executive Officer,
75008 Paris, France AXA
* Henri de Castries Executive Vice President, Financial
23, avenue Matignon Services and Life Insurance Activities
75008 Paris, France (outside of France), AXA
* Francis Cordier Chairman and Chief Executive Officer,
rue Nicephone Niepce Group Demay Lesieur (food industry)
BP 232 76304 Sotteville
Les Rouen, France
* Gerard Coutelle Retired
* Jean-Rene Fourtou Chairman and Chief Executive Officer,
25, quai Paul Doumer Rhone-Poulenc S.A. (industry)
92408 Courbevoie, France
* Patrice Garnier Retired
* Henri Lachmann Chairman and Chief Executive Officer,
56, rue Jean Giraudoux Strafor Facom (office furniture)
67000 Strasbourg, France
* Francis Magnan Chairman and Chief Executive Officer,
50, boulevard des Dames Groupe Daher (air and sea
13002 Marseille, France transportation)
* Jean de Ribes Chief Executive Officer, Banque Rivaud
13, rue Notre Dame des Victoires (banking)
75008 Paris, France
* Georges Rousseau Chairman, Apave Normandies (consulting)
2, rue des Mouettes
76130 Mont Saint Aignan, France
* Jean-Paul Saillard Corporate Secretary, AXA
23, avenue Matignon
75008 Paris, France
<PAGE> 37
* Claude Tendil General manager; Executive Vice
23, avenue Matignon President, Insurance Activities (in
75008 Paris, France France) and Non-Life and Composite
Insurance Activities (outside of France)
_____________________________
* Member, Conseil d'Administration
<PAGE> 38
SCHEDULE I
Executive Officers and
Members of Conseil d'Administration
of
ALPHA ASSURANCES VIE MUTUELLE
The names of the Members of Conseil d'Administration and the names and
titles of the Executive Officers of Alpha Assurances Vie Mutuelle and their
business addresses and principal occupations are set forth below. If no address
is given, the Member's or Executive Officer's business address is that of Alpha
Assurances Vie Mutuelle at Tour Franklin, 100/101 Terrasse Boildieu, Cedex 11,
92042 Paris La Defense, France. Unless otherwise indicated, each occupation set
forth opposite an individual's name refers to Alpha Assurances Vie Mutuelle and
each individual is a citizen of the Republic of France.
Name, Business Address Present Principal Occupation
* Claude Bebear Chairman and Chief Executive Officer;
23, avenue Matignon Chairman and Chief Executive Officer,
75008 Paris, France AXA
* Henri de Castries Executive Vice President, Financial
23, avenue Matignon Services and Life Insurance Activities
75008 Paris, France (outside of France), AXA
* Henri de Clermont-Tonnerre Chairman, Societe d'Armement et de
90, rue de Miromesnil Navigation Charles Schiaffino
75008 Paris, France (transportation)
* Claude Fath Manager
* Jean-Rene Fourtou Chairman and Chief Executive Officer,
25, quai Paul Doumer Rhone-Poulenc S.A. (industry)
92408 Courbevoie, France
* Patrice Garnier Retired
* Henri Lachmann Chairman and Chief Executive Officer,
56, rue Jean Giraudoux Strafor Facom (office furniture)
67000 Strasbourg, France
* Georges Rousseau Chairman, Apave Normandies (consulting)
2, rue des Mouettes
76130 Mont Saint Aignan, France
* Claude Tendil General Manager; Executive Vice
23, avenue Matignon President, Insurance Activities (in
75008 Paris, France France) and Non- Life Composite
Insurance Activities (outside of France)
* Francis Vaudour Chief Executive Officer, Segafredo
14, boulevard Industriel Zanetti France S.A. (coffee importing
76301 Sotteville les Rouen and processing)
France
______________________________
* Member, Conseil d'Administration
<PAGE> 39
SCHEDULE J
Executive Officers and
Members of Conseil d'Administration
of
ALPHA ASSURANCES I.A.R.D. MUTUELLE
The names of the Members of Conseil d'Administration and the names and
titles of the Executive Officers of Alpha Assurances I.A.R.D. Mutuelle and their
business addresses and principal occupations are set forth below. If no address
is given, the Member's or Executive Officer's business address is that of Alpha
Assurances I.A.R.D. Mutuelle at Tour Franklin, 100/101 Terrasse Boildieu, Cedex
11, 92042 Paris La Defense, France. Unless otherwise indicated, each occupation
set forth opposite an individual's name refers to Alpha Assurances I.A.R.D.
Mutuelle and each individual is a citizen of the Republic of France.
Name, Business Address Present Principal Occupation
* Claude Bebear Chairman and Chief Executive Officer;
23, avenue Matignon Chairman and Chief Executive Officer,
75008 Paris, France AXA
* Henri Brischoux Manager, AXA
23, avenue Matignon
75008 Paris, France
* Henri de Castries Executive Vice President, Financial
23, avenue Matignon Services and Life Insurance Activities
75008 Paris, France (outside of France), AXA
* Henri de Clermont-Tonnerre Chairman, Societe d'Armement et de
90, rue de Miromesnil Navigation Charles Schiaffino
75008 Paris, France (transportation)
* Bernard Cornille Audit Manager, AXA
23, avenue Matignon
75008 Paris, France
* Claude Fath Manager, Alpha Assurances Vie Mutuelle
* Patrice Garnier Retired
Henri Lachmann Chairman and Chief Executive Officer,
56, rue Jean Giraudoux Strafor Facom (office furniture)
67000 Strasbourg, France
* Claude Peter Retired
* Georges Rousseau Chairman, Apave Normandies (consulting)
2, rue des Mouettes
76130 Mont Saint Aignan, France
* Claude Tendil General Manager; Executive Vice
23, avenue Matignon President, Insurance Activities (in
75008 Paris, France France) and Non-Life and Composite
Insurance Activities (outside of France)
______________________________
* Member, Conseil d'Administration
<PAGE> 1
EXHIBIT 1
Joint Filing Agreement
In accordance with Rule 13d-1(f) under the Securities Exchange Act of
1934, as amended, each of the persons named below agrees to the joint filing of
a Statement on Schedule 13D (including amendments thereto) with respect to the
common stock, no par value, of Aradigm Corporation, a California corporation,
and further agrees that this Joint Filing Agreement be included as an exhibit to
such filings provided that, as contemplated by Section 13d-1(f)(1)(ii), no
person shall be responsible for the completeness or accuracy of the information
concerning the other persons making the filing, unless such person known or has
reason to believe that such information is inaccurate. This Joint Filing may be
executed in any number of counterparts, all of which together shall constitute
one and the same instrument.
Sprout Capital VI, L.P.
by: DLJ Capital Corporation
its: Managing General Partner
By: /S/Thomas E. Siegler
-------------------------
Thomas E. Siegler
Secretary and Treasurer
Sprout Capital VII, L.P.
by: DLJ Capital Corporation
its: Managing General Partner
By: /S/Thomas E. Siegler
-------------------------
Thomas E. Siegler
Secretary and Treasurer
DLJ Capital Corporation
By: /S/Thomas E. Siegler
-------------------------
Thomas E. Siegler
Secretary and Treasurer
Donaldson, Lufkin & Jenrette, Inc.
By: /S/Thomas E. Siegler
-------------------------
Thomas E. Siegler
Senior Vice President
<PAGE> 2
The Equitable Companies Incorporated
By: /S/Joanne T. Marren
--------------------------------------
Joanne T. Marren
Senior Vice President and Deputy General Counsel
AXA
Finaxa
AXA Assurances I.A.R.D. Mutuelle
AXA Assurances Vie Mutuelle
Uni Europe Assurance Mutuelle
Alpha Assurances I.A.R.D. Mutuelle
Alpha Assurances Vie Mutuelle
Claude Bebear, as AXA Voting Trustee
Patrice Garnier, as AXA Voting Trustee
Henri Clermont-Tonnerre, as AXA Voting Trustee
Signed on behalf of each of the above
By: /S/Joanne T. Marren
-------------------------------
Joanne T. Marren
Attorney-in-fact
<PAGE> 1
EXHIBIT 3
ARADIGM CORPORATION
LOCK-UP AGREEMENT
Cowen & Company
Oppenheimer & Co., Inc.
Invemed Associates, Inc.
As Representatives of the Several Underwriters
c/o Cowen & Company
345 California Street
San Francisco, CA 94104
Ladies and Gentlemen:
The undersigned understands that you, as Representatives of the several
underwriters (the "Underwriters"), propose to enter into an Underwriting
Agreement (the "Underwriting Agreement") with Aradigm Corporation (the
"Company") providing for the public offering (the "Public Offering") by
the Underwriters, of shares (the "Shares") of Common Stock of the Company (the
"Common Stock") pursuant to the Company's Registration Statement on Form S-1 to
be filed with the Securities and Exchange Commission prior to the end of May,
1996 (the "Registration Statement").
In consideration of the Underwriters' agreement to purchase and make the
Public Offering of the Shares, and for other good and valuable consideration,
receipt of which is hereby acknowledged, the undersigned hereby agrees, for a
period of 180 days after the effective date of the Registration Statement (the
"Lock-Up Period"), not to, directly or indirectly, offer to sell, contract to
sell or otherwise sell, dispose of, loan, pledge or grant any rights (each, a
"Disposition") with respect to any shares of Common Stock, any options or
warrants to purchase any shares of Common Stock or any securities convertible
into or exchangeable for shares of Common Stock (collectively, "Securities"),
now owned or hereafter acquired directly by the undersigned or with respect to
which the undersigned has or hereafter acquires the power of disposition,
otherwise than (i) as a bona fide gift or gifts, provided the donee or donees
thereof agree to be bound by this Lock-Up Agreement, (ii) as a distribution to
limited partners or shareholders of the undersigned, provided that the
distributees thereof agree in writing to be bound by the terms of this Lock-Up
Agreement, or (iii) with the prior written consent of Cowen & Company. The
foregoing restriction is expressly agreed to preclude the holder of the
Securities from engaging in any hedging or other transaction which is designed
to or reasonably expected to lead to or result in a Disposition of Securities
during the Lock-Up Period even if such Securities would be disposed of by
someone other than the undersigned. Such prohibited hedging or other
transactions would include without limitation any short sale (whether or not
against the box) or any purchase, sale or grant of any right (including
without limitation any put or call option) with respect to any Securities.
<PAGE> 2
Cowen & Company
Oppenheimer & Co., Inc.
Invemed Associates, Inc.
Page 2
Furthermore, the undersigned hereby agrees and consents to the entry of
stop transfer instructions with the Company's transfer agent against the
transfer of the Securities held by the undersigned except in compliance with
this Lock-Up Agreement.
Dated:_________________ Very truly yours,
SHAREHOLDER:
SPROUT CAPITAL VII, L.P.
SPROUT CAPITAL VI, L.P.
DLJ CAPITAL CORPORATION
By: /s/ Kathleen D Laporte
----------------------
Name: /s/ Kathleen D Laporte
----------------------
Title: General Partner
---------------
Accepted as of the date
set forth above:
COWEN & COMPANY
By:____________________
Name:__________________
Title:_________________
