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FORM 5 OMB APPROVAL
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OMB Number 3235-0362
Expires: April 30, 1997
Estimated average burden
hours per response ....... 1.0
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL 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 this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported
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1. Name and Address of Reporting Person
Latham, Daniel W.
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(Last) (First) (Middle)
c/o Coyote Network Systems, Inc.
4360 Park Terrace Drive
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(Street)
Westlake Village, CA 91361
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Coyote Network Systems Inc. (CYOE)
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3. IRS or Social Security Number of Reporting Person (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
[ X ] Officer (give title below) [ ] Other (specify below)
President and Chief Operating Officer
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<PAGE>
7. Individual or Joint/Group Reporting
(Check all applicable)
[ X ] 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 Acquired, Disposed of,
or Beneficially Owned
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5. 6.
4. Amount of Owner-
Security Acquired (A) or Securities ship
Disposed of (D) Beneficially Form: 7.
(Instr. 3, 4 and 5) Owned at End Direct Nature of
2. 3. ----------------------------- of Issuer's (D) or Indirect
1. Transaction Transaction (A) Fiscal Year Indirect Beneficial
Title of Security Date Code Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) (Instr. 8) (D) & 4) (Instr.4) (Instr. 4)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
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<PAGE>
FORM 5 (continued)
<TABLE>
<CAPTION>
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Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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9. 10.
Number Owner-
of ship
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- Securities Date Securities Price Bene- ity: In-
cise 3. Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- 4. or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Trans- of (D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date action (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ Code 4 and 5) Date Expira- Number ity Year (I) ship
Security Secur- Day/ (Instr. ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) 8) (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>
Employee Stock 04/01/99 01/14/00 Common
Option (1) $5.00 (1) A 94,500 (1) 01/14/10 Stock 94,500 94,500 D
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Employee Stock 01/14/00 01/14/00 Common
Option (1) $5.00 (1) A 283,500 (1) 01/14/10 Stock 283,500 283,500 D
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</TABLE>
Explanation of Responses:
1. By action of the Company's Board of Directors, the terms of the reporting
person's employment agreement were modified to provide for immediate award
of the reporting person's entitlement to 283,500 options as currently
exercisable at $5.00 per share and 94,500 options which were awarded on
April 1, 1999 at an exercise price of $7.62 per share were repriced at an
exercise price of $5.00 per share and became immediately exercisable.
Issuance of such shares is subject to shareholder approval of the Company's
amendment of its Certificate of Incorporation to allow for the increase in
the Company's authorized shares and subject to shareholder approval of the
Company's Equity Plan.
/s/ Daniel W. Latham 5/15/00
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**Signature of Reporting Person 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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