UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Gavin, Carol Coghlan
c/o TELLABS OPERATIONS, INC.
4951 Indiana Avenue
Lisle, IL 60532
USA
2. Date of Event Requiring Statement (Month/Day/Year)
March 1, 1999
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Tellabs, Inc.
(TLAB)
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
VP, Gen. Counsel & Secretary, Tellabs Operations, Inc. (Subsidiary of Issuer)
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
( ) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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<S> <C> <C> <C>
Common Stock |44,262 |D | |
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Common Stock |242 |I |(1) |
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<CAPTION>
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
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<S> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Options (|(2) |11/4/02 |Common Stock |30,000 |$1.5313 |D | |
Rights to Buy) | | | | | | | |
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Employee Stock Options (|(2) |11/29/03 |Common Stock |120,000 |$5.0000 |D | |
Rights to Buy) | | | | | | | |
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Employee Stock Options (|(2) |4/25/05 |Common Stock |20,000 |$16.6875 |D | |
Rights to Buy) | | | | | | | |
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Employee Stock Options (|(2) |7/22/06 |Common Stock |20,000 |$28.6250 |D | |
Rights to Buy) | | | | | | | |
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Employee Stock Options (|(2) |10/24/07 |Common Stock |10,000 |$50.5000 |D | |
Rights to Buy) | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) These shares are held for the benefit of the reporting person in the
Tellabs Advantage Plan and are based on
information available as of December 31,
1998.
(2) All options become exercisable in cumulative annual installments of 25% on
each of the 1st, 2nd, 3rd and 4th
anniversaries of the grant
date.
SIGNATURE OF REPORTING PERSON
/s/ Carol Coghlan Gavin
DATE
March 10, 1999
