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FORM 3 OMB APPROVAL
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OMB Number 3235-0104
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 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
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1. Name and Address of Reporting Person
Atkinson, Timothy G.
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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. Date of Event Requiring Statement (Month/Day/Year)
April 15, 2000
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker Trading Symbol
Coyote Network Systems, Inc. (CYOE)
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5. Relationship of Reporting Person to Issuer (check all applicable)
[ ] Director [ ] 10% Owner
[ X ] Officer (give title below) [ ] Other (specify below)
General Counsel and VP of Business Development
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (check applicable line)
[ X ] Form Filed by One Reporting Person
[ ] Form Filed by More than One Reporting Person
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Table I - Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
(Instr. 4) Beneficially Owned (Instr.4) Direct (D) or Indirect (I) Beneficial Ownership
(Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
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Common Stock (1) 25,000 D
$1.00 Par Value
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Over)
Page 1 of 2 Pages
<PAGE>
FORM 3 (continued)
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Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
1. Title of Derivative 2. Date Exercisable 3. Title and Amount of 4. Conversion or 5. Ownership 6. Nature of
Security and Expiration Securities Underlying Exercise Price Form of Indirect
(Instr. 4) Date Derivative Security of Derivative Derivative Beneficial
(Month/Day/Year) (Instr. 4) Security Security: Ownership
Direct (D) or (Instr. 5)
Indirect (I)
(Instr. 5)
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Date Expir- Amount
Exer- ation Title or
cisable Date Number
of Shares
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<S> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Option 8/10/99 8/10/04 Common Stock 5,500 $4.50 D
(right to buy)
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Employee Stock Option 4/15/00 4/15/06 Common Stock 250,000 (2) D
(right to buy)
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- ------------------------ --------- --------- ---------------- --------- ---------------- ---------------- -------------
- ------------------------ --------- --------- ---------------- --------- ---------------- ---------------- -------------
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</TABLE>
Explanation of Responses:
(1) Pursuant to an employment agreement dated April 15, 2000, the reporting
person was awarded 25,000 unregistered shares of the Company's common
stock. 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.
(2) Pursuant to an employment agreement dated April 15, 2000, the reporting
person received options to purchase 100,000 shares of the Company's common
stock at $7.00 per share and 150,000 shares of the Company's common stock
at $9.00 per share. Each of the 100,000 and 150,000 options vest in 1/3
increments on October 15, 2000, April 15, 2001 and October 15, 2001,
respectively. 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.
/s/ Timothy G. Atkinson 04/25/00
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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. 78 ff(a).
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