VERILINK CORP
SC 13G, 1998-02-12
TELEPHONE & TELEGRAPH APPARATUS
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<PAGE>   1



                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934



                              VERILINK CORPORATION
                              --------------------
                                (Name of Issuer)


                                  COMMON STOCK
                                  ------------
                         (Title of Class of Securities)


                                   923432 10 8
                                   -----------
                                 (CUSIP Number)


    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 pages)


                                Page 1 of 5 Pages


<PAGE>   2
CUSIP NO.  923432 10 8              13G                PAGE   2   OF   5   PAGES
         ---------------------                              -----    -----      

  (1)     NAME OF REPORTING PERSON                 
          S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                

            Leigh S. Belden
          ---------------------------------------------------------------------

  (2)     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a)   [   ]
                                                                    (b)   [   ]

          --------------------------------------------------------------------- 

  (3)     SEC USE ONLY

          ---------------------------------------------------------------------

  (4)     CITIZENSHIP OR PLACE OF ORGANIZATION                      

            USA
          ---------------------------------------------------------------------

                       (5)     SOLE VOTING POWER                    
  NUMBER OF                      0
   SHARES              --------------------------------------------------------
 BENEFICIALLY          (6)     SHARED VOTING POWER                  
  OWNED BY                       2,425,253
    EACH               --------------------------------------------------------
  REPORTING            (7)     SOLE DISPOSITIVE POWER               
 PERSON WITH                     0
                       --------------------------------------------------------
                       (8)     SHARED DISPOSITIVE POWER             
                                 2,425,253
                       --------------------------------------------------------

  (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON         
 
           2,425,253          
          ---------------------------------------------------------------------

 (10)     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
          SHARES*                                                         [   ]

          ---------------------------------------------------------------------

 (11)     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9           

            17.7%
          ---------------------------------------------------------------------

 (12)     TYPE OF REPORTING PERSON*

            IN
          ---------------------------------------------------------------------
                    *SEE INSTRUCTIONS BEFORE FILLING OUT


<PAGE>   3


SCHEDULE 13G                                                  Page 3 of 5 Pages
LEIGH S. BELDEN

ITEM 1.

    (a)  Name of Issuer:  Verilink Corporation

    (b)  Address of Issuer's Principal Executive Offices:

         145 Baytech Drive
         San Jose, California 95134

ITEM 2.

    (a)  Name of Person Filing:

         Leigh S. Belden

    (b)  Address of Principal Business Office or, if none, Residence:

         145 Baytech Drive
         San Jose, California 95134

    (c)  Citizenship:  U.S.A.

    (d)  Title of Class Securities:  Common Stock

    (e)  CUSIP Number:  000923432108

ITEM 3.

    Not applicable.

ITEM 4.  OWNERSHIP

    (a)  Amount Beneficially Owned:

         2,425,253 shares , as of December 31, 1997. Includes 1,423,703 shares
         held by Leigh S. Belden and Deborah Tinker Belden, or their successors,
         Trustees U/A dated 12/09/88 (the "Trust Shares"), 1,000,000 shares held
         by Beltech, Inc., a Nevada Corporation of which Mr. Belden is director
         and President and Leigh S. Belden and Deborah Tinker Belden, or their
         successors, Trustees U/A dated 12/09/88 is the sole shareholder (the
         "Beltech Shares"), 1,550 shares owned by Baytech Associates, a
         California general partnership in which Mr. Belden has a 50% general
         partner interest (the "Baytech Shares"). Leigh S. Belden and Deborah
         Tinker Belden have voting and dispositive power over the Trust Shares.
         Amount beneficially owned does not include 734,208 shares owned by
         trusts for Mr. Belden's minor children over which Mr. Belden does not
         have voting or dispositive power--183,552 shares owned by Trust for Mr.
         Belden's minor child--122,368 shares by the Trust of Morgan Hood Adams
         Belden


<PAGE>   4

SCHEDULE 13G                                                   Page 4 of 5 Pages
LEIGH S. BELDEN


         Irrevocable Trust U/A dated 12/28/84 and 61,184 by the Morgan Belden
         1996 Irrevocable Trust dated 4/10/96--Mr. Belden disclaims beneficial
         ownership of these shares, 183,552 shares owned by Trust for Mr.
         Belden's minor child--122,368 shares by the Trust of Phillip Tinker
         Belden Irrevocable Trust U/A dated 12/28/90 and 61,184 by the Phillip
         Belden 1996 Irrevocable Trust dated 4/10/96--Mr. Belden disclaims
         beneficial ownership of these shares, 183,552 shares owned by Trust for
         Mr. Belden's minor child--122,368 shares by the Trust of Scott Thomas
         Belden Irrevocable Trust U/A dated 07/19/93 and 61,184 by the Scott
         Belden 1996 Irrevocable Trust dated 4/10/96--Mr. Belden disclaims
         beneficial ownership of these shares, 183,552 shares owned by Trust for
         Mr. Belden's minor child--122,368 shares by the Trust of Tara Alexandra
         Belden Irrevocable Trust U/A dated 12/28/84 and 61,184 by the Tara
         Belden 1996 Irrevocable Trust dated 4/10/96--Mr. Belden disclaims
         beneficial ownership of these shares (collectively the'Minor
         Chilidren's Trust Shares"). This Schedule 13G shall not not be
         construed as an admission that Mr. Belden is a beneficial owner of the
         Minor Children's Trust Shares.

    (b)  Percent of Class: 17.7%, as of December 31, 1997.

    (c)  Number of shares as to which such person has:

            (i)  sole power to vote or to direct the vote:

                   -0-

            (ii)  shared power to vote or to direct the vote:

                  2,425,253 shares (comprised of the Trust Shares, the Baytech
                  Shares and the Beltech Shares).

            (iii) sole power to dispose or to direct the disposition of:

                   -0-

            (iv)  shared power to dispose or to direct the disposition of:

                  2,425,253 shares (comprised of the Trust Shares, the Baytech
                  Shares and the Beltech Shares).

ITEM 5.    OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

    Not applicable.


<PAGE>   5



SCHEDULE 13G                                                  Page 5 of 5 Pages
LEIGH S. BELDEN

ITEM 6.

    Not applicable.

ITEM 7.  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED 
         THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

    Not Applicable.

ITEM 8.  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

    Not applicable.

ITEM 9.  NOTICE OF DISSOLUTION OF THE GROUP

    Not applicable.

ITEM 10. CERTIFICATION

    Not applicable.

                                    SIGNATURE

        After reasonable inquire 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: February 11, 1998


                                          /s/ LEIGH S. BELDEN
                                        -----------------------------------  
                                              Leigh S. Belden



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