UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Smith, Stephen F.
1748 Bear Mountain Drive
Boulder, CO 80303
2. Date of Event Requiring Statement (Month/Day/Year)
December 1, 1997
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Exabyte Corporation
EXBT
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Vice President, CFO, Corporate Secretary, General Counsel
6. If Amendment, Date of Original (Month/Day/Year)
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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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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<S> <C> <C> <C>
Common |0 | | |
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<CAPTION>
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
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<S> <C> <C> <C> <C> <C> <C> <C>
Right to Buy (Stock Opti|see note |4/25/01 |Common Stock |3,000 |$23.875 |D | |
on) | | | | | | | |
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Right to Buy (Stock Opti|see note |4/28/02 |Common Stock |3,000 |$31.75 |D | |
on) | | | | | | | |
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Right to Buy (Stock Opti|see note |8/5/03 |Common Stock |2,500 |$8.875 |D | |
on) | | | | | | | |
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Right to Buy (Stock Opti|see note |5/11/04 |Common Stock |3,000 |$15.438 |D | |
on) | | | | | | | |
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Right to Buy (Stock Opti|see note |2/3/05 |Common Stock |2,500 |$17.625 |D | |
on) | | | | | | | |
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Right to Buy (Stock Opti|see note |4/28/05 |Common Stock |3,000 |$12.625 |D | |
on) | | | | | | | |
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Right to Buy (Stock Opti|see note |1/26/06 |Common Stock |5,000 |$14.00 |D | |
on) | | | | | | | |
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Right to Buy (Stock Opti|see note |2/12/07 |Common Stock |5,000 |$12.375 |D | |
on) | | | | | | | |
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</TABLE>
Explanation of Responses:
NOTE: Options granted pursuant to the Company's Incentive Stock Plan vest at
the rate of 2% per month.
SIGNATURE OF REPORTING PERSON
/s/ Stephen F. Smith
DATE
December 2, 1997
