PLANET POLYMER TECHNOLOGIES INC
SC 13G/A, 1998-02-06
PLASTIC MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS
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<PAGE>   1
                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                       

                                  SCHEDULE 13G
                                       
                                       
                   UNDER THE SECURITIES EXCHANGE ACT OF 1934

                               (AMENDMENT NO. 2)*
                                            
                                       
                       PLANET POLYMER TECHNOLOGIES, INC.
                                (Name of Issuer)
                                       
                                       
                                  COMMON STOCK
                         (Title of Class of Securities)
                                       
                                       
                                  727044 10 9
                                 (CUSIP Number)
                                       


*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).


                             FILED FEBRUARY 6, 1998
                     (REFLECTING OWNERSHIP AS OF 12/31/97)


                               Page 1 of 4 pages

<PAGE>   2
- --------------------------------------------------------------------------------
CUSIP NO. 727044 10 9                13G                       Page 2 of 4 Pages
- --------------------------------------------------------------------------------

- --------------  ----------------------------------------------------------------
      1         NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF
                ABOVE PERSONS
                     ROBERT J. PETCAVICH
- --------------  ----------------------------------------------------------------
      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                           758,281
 BENEFICIALLY   --------------  ------------------------------------------------
   OWNED BY            6        SHARED VOTING POWER
     EACH                            -0-
  REPORTING     --------------  ------------------------------------------------
 PERSON WITH           7        SOLE DISPOSITIVE POWER
                                     758,281
                --------------  ------------------------------------------------
                       8        SHARED DISPOSITIVE POWER
                                     -0-
- --------------  ----------------------------------------------------------------
      9         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
                     758,281
- --------------  ----------------------------------------------------------------
     10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN 
                SHARES*
                     [ ]
- --------------  ----------------------------------------------------------------
     11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
                     14.25%
- --------------  ----------------------------------------------------------------
     12         TYPE OF REPORTING PERSON*
                     IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTION BEFORE FILLING OUT!
                               Page 2 of 4 pages
<PAGE>   3
ITEM 1.

        (a)     Name of Issuer:  Planet Polymer Technologies, Inc.

        (b)     Address of Issuer's Principal Executive Offices:
                                9985 Businesspark Avenue, Suite A
                                San Diego, CA 92131

ITEM 2. 

        (a)     Name of Person Filing:  Robert J. Petcavich

        (b)     Address of Principal Business Office or, if None, 
                Residence:      9985 Businesspark Avenue, Suite A
                                San Diego, CA 92131

        (c)     Citizenship:  United States

        (d)     Title of Class of Securities:  Common Stock

        (e)     CUSIP Number:  727044 10 9

ITEM 3.         Not applicable.

ITEM 4.         Ownership

        (a)     Amount Beneficially Owned:  758,281, including 39,682 shares
                issuable upon exercise of options held by Mr. Petcavich within
                60 days of December 31, 1997.

        (b)     Percent of Class:  14.25%

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

                  (i)   sole power to vote or to direct the vote:  758,281
                 (ii)   shared power to vote or to direct the vote:  -0-
                (iii)   sole power to dispose or to direct the disposition
                        of:  758,281
                 (iv)   shared power to dispose or to direct the disposition
                        of:  -0-

ITEM 5.        Ownership of Five Percent or Less of a Class

Not applicable.

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.

                               PAGE 3 OF 4 PAGES


<PAGE>   4
ITEM 8.        Identification and Classification of Members of the Group

Not applicable.

ITEM 9.        Notice of Dissolution of Group

Not applicable.

ITEM 10.       Certification

Not applicable.


                                   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 2, 1998
                                        --------------------------------
                                        Date

                                        /s/ ROBERT J. PETCAVICH
                                        --------------------------------
                                        Signature

                                        Robert J. Petcavich
                                        --------------------------------
                                        Name/Title



                               PAGE 4 OF 4 PAGES



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