<PAGE>
-----------------------------
| 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. THREE)*
CYBERONICS, INC.
- ------------------------------------------------------------------------------
(NAME OF ISSUER)
COMMON STOCK
- ------------------------------------------------------------------------------
(TITLE OF CLASS OF SECURITIES)
23251P 10 2
- ------------------------------------------------------------------------------
(CUSIP NUMBER)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing of 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).
SEC 1745 (2-95)
<PAGE>
CUSIP No. 23251P 10 2 13G PAGE 2 OF 5 PAGES
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
REESE S. TERRY, JR.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 985,694
SHARES --------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING --------------------------------------------------
PERSON WITH 7 SOLE DISPOSITIVE POWER
985,694
--------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
985,694
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.01%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
<PAGE>
CUSIP No. 23251P 10 2 Page 3 of 5 Pages
ITEM 1.
(a) Name of Issuer CYBERONICS, INC.
(b) Address of Issuer's Principal Executive Offices
16511 SPACE CENTER BLVD. #600
HOUSTON, TX 77062
ITEM 2.
(a) Name of Person Filing REESE S. TERRY, JR.
(b) Address of Principal Business Office or, if none, Residence
16511 SPACE CENTER BLVD. #600
HOUSTON, TX 77062
(c) Citizenship U.S.A.
(d) Title of Class of Securities COMMON STOCK
(e) CUSIP Number N/A
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR 13d-2(b),
CHECK WHETHER THE PERSON IS A:
(a) / / Broker or Dealer registered under Section 15 of 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
(e) / / Investment Adviser registered under section 203 of the
Investment Advisers Act of 1940
(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 Section 240.13d-1(b)(1)(ii)(F)
(g) / / Parent Holding Company, in accordance with Section
240.13d-1(b)(ii)(G) (Note: See Item 7)
(h) / / Group, in accordance with Section 240.13d-1(b)(1)(ii)(H)
<PAGE>
CUSIP No. 23251P 10 2 PAGE 4 OF 5 PAGES
ITEM 4. OWNERSHIP
(a) Amount Beneficially Owned 985,694*
(b) Percent of Class 6.01%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote 985,694*
(ii) shared power to vote or to direct the vote 0
(iii) sole power to dispose or direct the disposition of 985,694*
(iv) shared power to dispose or direct the disposition of 0
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If 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
that five percent of the class of securities, check the following / /. N/A
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. N/A
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY. N/A
Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP N/A
ITEM 9. NOTICE OF DISSOLUTION OF GROUP N/A
*includes 148,500 shares held in trusts for the benefit of Mr. Terry's
children, of which Mr. Terry serves as trustee, and 49,694 shares underlying
stock options exercisable within 60 days of December 31, 1997.
<PAGE>
CUSIP No. 23251P 10 2 PAGE 5 OF 5 PAGES
ITEM 10.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and 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.
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.
February 11, 1998
-------------------------------------
Date
/s/ REESE TERRY
-------------------------------------
Signature
Reese Terry
-------------------------------------
Name/Title
