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FORM 4 OMB APPROVAL
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OMB Number 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES 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 to 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
McCullough, James R.
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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:
April 2000
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer (check all applicable)
[ X ] Director [ ] 10% Owner
[ X ] Officer (give title below) [ ] Other (specify below)
Chief Executive Officer
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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
<TABLE>
<CAPTION>
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Table I - Non-Derivative Securities Beneficially Owned
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4. Securities 5. Amount of 6. Ownership 7. Nature of
Acquired (A) or Securities Form: Indirect
3. Transaction Disposed of (D) Beneficially Direct Beneficial
Code (Instr.8) (Instr. 3, 4 and 5) Owned at End (D) or Ownership
-------------- -------------------- of Month Indirect (Instr. 4)
1. Title of Security 2. Transaction (A) (Instr. 3 (I)
(Instr. 4) Date (mm/dd/yy) Code V Amount or (D) Price and 4) (Instr.4)
------------------ --------------- ------ ------ ------ ------ ------ ------------ --------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 04/13/00 D 1,166,666 (D) (1) 833,334 I By KRJ, LLC
------------------ --------------- ------ ------ --------- ---- ----- ------------ --------- -----------
------------------ --------------- ------ ------ --------- ---- ----- ------------ --------- -----------
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Over)
<PAGE>
FORM 4 (Continued)
<TABLE>
<CAPTION>
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Table II - Derivative Securities Acquired, Disposed of, or
Beneficially Owned (e.g., puts, calls, warrants, options, convertible
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9. 10.
Number Owner-
of ship
2. Deriv- Form 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>
- ------------------ -------- ------- ------ ----- ------ ------- ------- --------- ------- -------- --------- -------- -------
- ------------------ -------- ------- ------ ----- ------ ------- ------- --------- ------- -------- --------- -------- -------
- ------------------ -------- ------- ------ ----- ------ ------- ------- --------- ------- -------- --------- -------- -------
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</TABLE>
Explanation of Responses:
(1) The reporting person owns a one-third membership interest in KRJ, LLC,
which directly owns the reported securities. In April 2000, KRJ, LLC
transferred 1,166,666 shares of common stock of Coyote Network Systems to
11 entities.
/s/ James R. McCullough 5/10/00
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(**)Signature of Reporting Person
** 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 is insufficient, see Instruction 6 for procedure.
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