<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5 )*
---
Datakey, Inc.
--------------------------------------------------------
(Name of Issuer)
Common Stock
--------------------------------------------------------
(Title of Class of Securities)
237909106
--------------------------------------------------------
(CUSIP Number)
Bruce C. Lueck, President
Okabena Investment Services, Inc.
5140 Norwest Center
90 South Seventh Street, Minneapolis, MN 55402-4139
(612)339-7151
--------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
May 6, 1998
--------------------------------------------------------
(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 / /.
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).
(Continued on following page(s))
Page 1 of 6 Pages
---
<PAGE>
CUSIP No. 237909106 13D
---------
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Okabena Partnership K, a Minnesota general partnership 41-1642281
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
N/A
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Minnesota
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 187,600 shares
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power -0-
--------------------------------------------------
(9) Sole Dispositive
Power -0-
--------------------------------------------------
(10) Shared Dispositive
Power 187,000 shares
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
187,600 shares
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
[ ] N/A
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
6.4%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
PN
- -------------------------------------------------------------------------------
Page 2 of 6 Pages
--- ---
<PAGE>
CUSIP No. 237909106 13D
---------
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Kohler Capital Management, Inc., a Minnesota corporation 41-1889625
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
N/A
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) [ ]
N/A
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Minnesota
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting -0-
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting -0-
Power
--------------------------------------------------
(9) Sole Dispositive -0-
Power
--------------------------------------------------
(10) Shared Dispositive 187,600 shares
Power
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
187,600 shares
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
[ ] N/A
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
6.4%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
CO
- -------------------------------------------------------------------------------
Page 3 of 6 Pages
--- ---
<PAGE>
ITEM 1. SECURITY AND ISSUER
This Amendment No. 5 (the "Amendment") is filed with respect to the
common stock of Datakey, Inc. (the "Issuer") and amends the original Schedule
13D filed by Okabena Partnership K ("Partnership K") on October 9, 1991,
Amendment No. 1 on November 21, 1991, Amendment No. 2 on April 12, 1993,
Amendment No. 3 on June 19, 1996, and Amendment No. 4 filed on November 21,
1997.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) and (b) See Schedule 13D cover page, rows (7) through (11)
inclusive and (13). In a filing with the Securities and Exchange Commission,
the Issuer indicates that as of May 4, 1998, it had 2,909,735 shares
outstanding.
(c) The following open-market sales were made by Okabena Partnership
K since the most recent Amendment to Schedule 13D reporting a transaction.
<TABLE>
<CAPTION>
Date of Sale Number of Shares Sold Price Per Share
------------ --------------------- ---------------
<S> <C> <C>
4/13/98 25,000 $6.00
5/6/98 30,000 4.875
</TABLE>
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit A: A copy of the written agreement relating to the filing
of a joint statement as required by Rule 13d-1(f)(1) under the Securities
Exchange Act of 1934, as amended.
Page 4 of 6 Pages
--- ---
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
Date: May 13, 1998 OKABENA PARTNERSHIP K
By: Okabena Investment Services, Inc.
Its Managing Partner
By: /s/ Bruce C. Lueck
----------------------------------------
Bruce C. Lueck, President
Date: May 13, 1998 KOHLER CAPITAL MANAGEMENT, INC.
By: /s/ Gary S. Kohler
----------------------------------------
Gary S. Kohler, President
Page 5 of 6 Pages
--- ---
<PAGE>
EXHIBIT A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f)(1) promulgated under the Securities
Exchange Act of 1934, as amended, the undersigned agree that this Amendment
to Schedule 13D dated May 13, 1998, relating to Datakey, Inc. shall be filed
jointly on behalf of each of the undersigned and that this Agreement may be
included as an Exhibit to such joint filing.
Date: May 13, 1998 OKABENA PARTNERSHIP K
By: Okabena Investment Services, Inc.
Its Managing Partner
By: /s/ Bruce C. Lueck
----------------------------------------
Bruce C. Lueck, President
Date: May 13, 1998 KOHLER CAPITAL MANAGEMENT, INC.
By: /s/ Gary S. Kohler
----------------------------------------
Gary S. Kohler, President
Page 6 of 6 Pages
--- ---
