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<PAGE> 1
THIS DOCUMENT IS A CONFIRMING COPY OF THE AMENDMENT NO. 1 TO SCHEDULE 13G FILED
ON FEBRUARY 18, 1997 PURSUANT TO A RULE 201 TEMPORARY HARDSHIP EXEMPTION
--------------------------
OMB APPROVAL
--------------------------
OMB Number: 3235-0145
Expires: December 31, 1997
Estimated average burden
hours per response...14.90
--------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No.1)*
Premisys Communications, Inc.
-----------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.01 par value
-----------------------------------------------------------------------------
(Title of Class of Securities)
740584
-----------------------------------------------------------------------------
(Cusip Number)
Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*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 the
disclosures provided in a prior cover page.
The information required in 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).
Page 1 of 15
<PAGE> 2
SCHEDULE 13G
<TABLE>
CUSIP NO. 740584 PAGE 2 OF 15 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | Morgenthaler Venture Partners III 34-1608331 |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | Ohio |
|-------------------------------|-------|-----------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | 0 |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 769,344 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 0 |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 769,344 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 769,344 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN |
| | SHARES* [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.12% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | PN |
- -----------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 3
SCHEDULE 13G
<TABLE>
CUSIP NO. 740584 PAGE 3 OF 15 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | Morgenthaler Management Partners III 34-1627687 |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | Ohio |
|-------------------------------|-------|-----------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | 0 |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 769,344 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 0 |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 769,344 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 769,344 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN |
| | SHARES* [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.12% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | PN |
- -----------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 4
SCHEDULE 13G
<TABLE>
CUSIP NO. 740584 PAGE 4 OF 15 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | David T. Morgenthaler ###-##-#### |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | United States |
|-------------------------------|-------|-----------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | 0 |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 775,144 Note (1) |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | 0 |
| | | |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 775,144 Note (1) |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 775,144 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN |
| | SHARES* [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.14% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 5
SCHEDULE 13G
<TABLE>
CUSIP NO. 740584 PAGE 5 OF 15 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | Robert D. Pavey ###-##-#### |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | United States |
|-------------------------------|-------|-----------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | 0 |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 773,344 Note (2) |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 0 |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 773,344 Note (2) |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 773,344 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN |
| | SHARES* [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.14% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 6
SCHEDULE 13G
<TABLE>
CUSIP NO. 740584 PAGE 6 OF 15 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | Robert C. Bellas, Jr. ###-##-#### |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | United States |
|-------------------------------|-------|-----------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | 1,300 |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 771,844 Note (3) |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 1,300 |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 771,844 Note (3) |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 773,144 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN |
| | SHARES* [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.13% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 7
SCHEDULE 13G
<TABLE>
CUSIP NO. 740584 PAGE 7 OF 15 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | Gary J. Morgenthaler ###-##-#### |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | United States |
|-------------------------------|-------|-----------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | 21,000 Note (5) |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 780,944 Notes (1), (4) |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | |
| | | 21,000 Note (5) |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 780,944 Notes (1), (4) |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 801,944 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN |
| | SHARES* [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.25% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 8
SCHEDULE 13G
<TABLE>
CUSIP NO. 740584 PAGE 8 OF 15 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | Paul S. Brentlinger ###-##-#### |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | United States |
|-------------------------------|-------|-----------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | 800 |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 769,344 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | 800 |
| | | |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 769,344 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 770,144 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN |
| | SHARES* [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.12% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 9
SCHEDULE 13G
<TABLE>
CUSIP NO. 740584 PAGE 9 OF 15 PAGES
<S> <C>
- -----------------------------------------------------------------------------------------------------------
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | John D. Lutsi ###-##-#### |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] |
| | ---- |
| | (b) [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | United States |
|-------------------------------|-------|-----------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | 1,000 |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 769,344 |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | 1,000 |
| | | |
| PERSON |-------|-----------------------------------------------------------------|
| | 8 | SHARED DISPOSITIVE POWER |
| WITH | | |
| | | 769,344 |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 770,344 |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN |
| | SHARES* [ ] |
| | ---- |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 3.12% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON* |
| | |
| | IN |
- -----------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 10
Schedule 13G
------------
Item 1(a). NAME OF ISSUER: Premisys Communications, Inc.
Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 48664 Milmont Drive,
Fremont, CA 94538
Item 2(a). NAMES OF PERSONS FILING: Morgenthaler Venture Partners III ("MVP
III"); Morgenthaler Management Partners III ("MMP III"), the general
partner of MVP III; David T. Morgenthaler, Robert D. Pavey, Robert C.
Bellas, Jr., Gary J. Morgenthaler, Paul S. Brentlinger, and John D.
Lutsi (collectively, the "General Partners") are individual general
partners of MMP III, the general partner of MVP III.
Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE RESIDENCE:
The address of the principal business office of MVP III, MMP III and
each of the General Partners is:
Morgenthaler Venture Partners III
629 Euclid Avenue
Suite 700
Cleveland, Ohio 44114
Item 2(c). CITIZENSHIP: MVP III and MMP III are limited partnerships organized
under the laws of the State of Ohio. Each of the General Partners is
a United States citizen.
Item 2(d). TITLE OF CLASS OF SECURITIES: Common Stock, $.01 par value per share
Item 2(e). CUSIP NUMBER: 740584
Item 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR
13d-2(b), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or Dealer registered under Section 15 of the
Securities Exchange Act of 1934 (the "Act").
(b) [ ] Bank as defined in Section 3(a)(6) of the Act.
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the
Act.
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940.
(e) [ ] Investment Advisor registered under Section 203 of the
Investment Advisors Act of 1940.
<PAGE> 11
(f) [ ] Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund; see Rule
13d-1(b)(1)(ii)(f) of the Act.
(g) [ ] Parent Holding Company, in accordance with
Rule 13d-1(b)(ii)(G) of the Act.
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H)
of the Act.
Not Applicable.
Item 4. OWNERSHIP.
(a) Amount Beneficially Owned: Each of MVP III and MMP III may be
deemed to own beneficially 769,344 shares of the Common Stock of
Premisys Communications, Inc. (the "Company") as of December 31,
1996. Gary J. Morgenthaler may be deemed to own beneficially
801,944 shares of the Company's Common Stock as of December 31,
1996, which includes 15,000 shares he holds of record. David T.
Morgenthaler may be deemed to own beneficially 775,144 shares of
the Company's Common Stock as of December 31, 1996. Robert D.
Pavey may be deemed to own beneficially 773,344 shares of the
Company's Common stock as of December 31, 1996. Robert C. Bellas,
Jr. may be deemed to own beneficially 773,144 shares of the
Company's Common Stock as of December 31, 1996, which includes
1,300 shares he holds of record. Paul S. Brentlinger may be
deemed to own beneficially 770,144 shares of the Company's Common
Stock as of December 31, 1996, which includes 800 shares he holds
of record. John D. Lutsi may be deemed to own beneficially
770,344 shares of the Company's Common Stock as of December 31,
1996, which includes 1,000 shares he holds of record.
MVP III is the record owner of 769,344 shares. MMP III, in its
capacity as the general partner of MVP III, may be deemed to own
beneficially such 769,344 shares.
(b) Percent of Class (based on 24,666,303 shares of Common Stock):
MVP III: 3.12%
MMP III: 3.12%
David T. Morgenthaler: 3.14%
Robert D. Pavey: 3.14%
Robert C. Bellas, Jr.: 3.13%
Gary J. Morgenthaler: 3.25%
Paul S. Brentlinger: 3.12%
John D. Lutsi: 3.12%
<PAGE> 12
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
Gary J. Morgenthaler: 15,000 shares and 30,000 option
shares, 6,000 are exercisable within 60 days of
December 31, 1996
Robert C. Bellas, Jr.: 1,300 shares
Paul S. Brentlinger: 800 shares
John D. Lutsi: 1,000 shares
(ii) shared power to vote or to direct the vote:
MVP III: 769,344 shares
MMP III: 769,344 shares
David T. Morgenthaler: 775,144 shares
Robert D. Pavey: 773,344 shares
Robert C. Bellas, Jr.: 771,844 shares
Gary J. Morgenthaler: 780,944 shares
Paul S. Brentlinger: 769,344 shares
John D. Lutsi: 769,344 shares
(iii) sole power to dispose or direct the disposition of:
Gary J. Morgenthaler: 15,000 shares and 30,000 option
shares, 6,000 are exercisable within 60 days of
December 31, 1996
Robert C. Bellas, Jr.: 1,300 shares
Paul S. Brentlinger: 800 shares
John D. Lutsi: 1,000 shares
(iv) shared power to dispose or direct the disposition of:
MVP III: 769,344 shares
MMP III: 769,344 shares
David T. Morgenthaler: 775,144 shares
Robert D. Pavey: 773,344 shares
Robert C. Bellas, Jr.: 771,844 shares
Gary J. Morgenthaler: 780,944 shares
Paul S. Brentlinger: 769,344 shares
John D. Lutsi: 769,344 shares
Each of MVP III and MMP III and each of the General Partners expressly
disclaims beneficial ownership of any shares of Common Stock of the
Company, except in the case of MVP III, for the 769,344 shares which
it holds of record, and in the case of Gary J. Morgenthaler, for the
15,000 shares which he holds of record and for the 30,000 option
shares, 6,000 are exercisable within 60 days of December 31, 1996; in
the case of Robert C. Bellas, Jr., for the 1,300 shares which he holds
of record; in the case of Paul S. Brentlinger, for the 800 shares
which he holds of record; and in the case of John D. Lutsi, for the
1,000 shares which he holds of record.
<PAGE> 13
Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
This statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of
more than five percent of the class of securities.
Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
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. MVP III, MMP III and each of the General Partners
expressly disclaim membership in a "group" as defined in Rule
13d-1(b)(ii)(H).
Item 9. NOTICE OF DISSOLUTION OF GROUP.
Not Applicable.
Item 10. CERTIFICATION.
Not Applicable. This statement on Schedule 13G is not filed pursuant
to Rule 13d-1(b).
By signing below, I certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired for the purpose of and do not
have the effect of changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a participant in any
transaction having such purposes or effect.
<PAGE> 14
Premisys Communications, Inc.
Schedule 13G
Information included in report as of 12/31/96.
Footnotes
(1) Amount includes 5,800 shares owned by Morgenthaler Family Partnership
(MFP). The reporting person is a general partner of MFP.
(2) Amount includes 4,000 shares owned by Pavey Family Partnership (PFP). The
reporting person is a general partner of PFP.
(3) Amount includes 1,500 shares owned by reporting person's IRA account and
1,000 shares owned by the reporting person's wife's IRA account.
(4) Amount includes 5,800 shares owned in the reporting person's 401(k)
account.
(5) Gary J. Morgenthaler has received grants for a total of 30,000 shares of
Common stock, 6,000 shares are exercisable within 60 days of December 31,
1996 and are included in the amount.
<PAGE> 15
SIGNATURES
----------
After reasonable inquiry and to the best of its knowledge and belief, I
certify that the information set forth in this statement is true, complete, and
correct.
Date: February 13, 1997
MORGENTHALER VENTURE PARTNERS III
By: Morgenthaler Management Partners III
By: *
--------------------------------------
General Partner
MORGENTHALER MANAGEMENT PARTNERS III
By: *
--------------------------------------
General Partner
*
--------------------------------------
David T. Morgenthaler
*
--------------------------------------
Robert D. Pavey
*
--------------------------------------
Robert C. Bellas, Jr.
*
--------------------------------------
Gary J. Morgenthaler
*
--------------------------------------
Paul S. Brentlinger
*
--------------------------------------
John D. Lutsi
*By: /s/ Theodore A. Laufik
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Theodore A. Laufik
Attorney-in-Fact
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