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FORM 3 OMB APPROVAL
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OMB Number: 3235-014
Expires: December 31, 2001
Estimated average burden
hours per response ......0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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
(Print or Type Responses)
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<S> <C> <C> <C>
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1. Name and Address of Reporting Person* 2. Date of Event Requiring 4. Issuer Name and Ticker or 6. If Amendment, Date
Solectron Corporation Statement Trading Symbol of Original
- ---------------------------------------- (Month/Day/Year) Smart Modular Technologies, Inc. (Month/Day/Year)
(Last) (First) (Middle) September 13, 1999 (SMOD)
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777 Gibraltar Drive 3. IRS or Social Security 5. Relationship of Reporting 7. Individual or Joint/
- ---------------------------------------- Number of Reporting Person to Issuer Group Filing (Check
(Street) Person (Voluntary) (Check all applicable) applicable line)
Milpitas CA 95035 94-2447045 Director X 10% Owner X Form filed by
- -------------------------------------- ---------------------------- ----- ----- ----- One Reporting
(City) (State) (Zip) Officer Other Person
----- (give ----- (specify Form filed by
title below) below) ----- More than One
Reporting Person
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TABLE 1 -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
(Instr. 4) Beneficially Owned Direct (D) or Beneficial
(Instr. 4) Indirect (I) Ownership (Instr. 4)
(Instr. 5)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
*If the form is filed by more than one reporting person, see Instruction 5(b)(v). SEC 1473 (3-99)
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FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security 2. Date 3. Title and Amount of 4. Conver- 5. Owner- 6. Nature of Indirect
(Instr. 4) Exercisable and Securities Underlying sion or ship Beneficial Ownership
Expiration Date Derivative Security Exercise Form of (Instr. 5)
(Month/Day/ (Instr. 4) Price of Deriv-
Year) Deriv- ative
ative Security:
Security
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Date Expira- Amount or (D) or
Exercis- tion Title Number Indirect (I)
able Date of Shares (Instr. 5)
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Option to purchase (1) (2) Common Stock 9,030,759 $39.3656 D
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Common Stock
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Explanation of Responses:
(1) As an inducement to Solectron to enter into an Agreement and Plan of
Reorganization (the "Merger Agreement"), Solectron and Smart entered into a
Stock Option Agreement dated as of September 13, 1999 (the "Stock Option
Agreement"). Pursuant to the Stock Option Agreement, Smart granted Solectron the
Option, under certain conditions, to acquire up to the number of shares of Smart
Common Stock sufficient to give Solectron ownership of 19.9% of Smart's
outstanding Common Stock. Smart's obligation to issue shares pursuant to the
exercise of the Stock Option is subject to the occurrence of certain events
(each, an "Exercise Event"), which may not occur. In general, an Exercise Event
may be deemed to occur: (a) if (i) the Board of Directors of Smart or any
committee thereof shall for any reason have withdrawn or shall have amended or
modified in a manner adverse to Solectron its unanimous recommendation in favor
of, the adoption and approval of the Merger Agreement or the approval of the
Merger; (ii) Smart shall have failed to include in the Prospectus/Proxy
Statement the unanimous recommendation of the Board of Directors of Smart in
favor of the adoption and approval of the Merger Agreement and the approval of
the Merger; (iii) the Board of Directors of Smart fails to reaffirm its
unanimous recommendation in favor of the adoption and approval of the Merger
Agreement and the approval of the Merger within ten (10) days after Solectron
requests in writing that such recommendation be reaffirmed at any time following
the announcement of an Acquisition Proposal (as defined in Section 5.4(a) of the
Merger Agreement); (iv) the Board of Directors of Smart or any committee thereof
shall have approved or recommended any Acquisition Proposal; (v) Smart shall
have entered into any letter of intent or similar document or any agreement,
contract or commitment accepting any Acquisition Proposal; or (vi) a tender or
exchange offer relating to securities of Smart shall have been commenced by a
Person (as defined in the Merger Agreement) unaffiliated with Solectron and
Smart shall not have sent to its securityholders pursuant to Rule 14e-2
promulgated under the Securities Act of 1933, as amended, within ten (10)
business days after such tender or exchange offer is first published, sent or
given, a statement disclosing that Smart recommends rejection of such tender or
exchange offer; or (b) if the Merger Agreement is terminated by either Solectron
or Smart because the Merger shall not have been consummated by March 31, 2000,
or because the Smart stockholders fail to approve the Merger Agreement and the
Merger.
(2) The Option will terminate upon the earliest of (i) the completion of the
Merger, (ii) twelve (12) months following the date on which the Merger Agreement
is terminated pursuant to Section 7.1(b) or 7.1(d) thereof, if no event causing
the Termination Fee to become payable pursuant to Section 7.3(b)(ii) of the
Merger Agreement has occurred, (iii) eighteen (18) months following the date on
which the Merger Agreement is terminated pursuant to Section 7.5(g) or 7.1(h)
thereof, (iv) in the event the Merger Agreement has been terminated pursuant to
Section 7.1(b) or 7.1(d) thereof and the Termination Fee became payable pursuant
to Section 7.3(b)(ii) thereof, 18 months after payment of the Termination Fee;
or (v) the date on which the Merger Agreement is terminated if neither an
Exercise Event nor the announcement of an Acquisition Proposal by a third party
occurred on or prior to the date of such termination.
/s/ Susan Wang September 22, 1999
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** Intentional misstatements or omissions of facts constitute Federal **Signature of Reporting Person Date
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.
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form displays a
currently valid OMB Number.
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SEC 1473 (3-99)
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