SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Rule 13d-102
Under the Securities Exchange Act of 1934
Pilot Network Services Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
721596104
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(CUSIP Number)
August 11, 1998
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(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:
|_| Rule 13d-1 (b)
|_| Rule 13d-1 (c)
|X| Rule 13d-1 (d)
- ----------
(*) 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 disclosures provided in a prior cover page.
The information required on 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 (howe7ver, see
the Notes).
<PAGE>
CUSIP No. 721596104
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Trustees of the General Electric Pension Trust
I.R.S. #14-6015763
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of New York
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NUMBER OF 5 SOLE VOTING POWER
SHARES None
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 900,000
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH None
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
900,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
900,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.46%
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12 TYPE OF REPORTING PERSON*
EP
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 19
<PAGE>
CUSIP No. 721596104
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Investment Corporation, as Investment Manager of GEPT
(as defined below)
I.R.S. #22-2152310
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES None
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 900,000
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH None
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
900,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
900,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.46%
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12 TYPE OF REPORTING PERSON*
IA, CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 19
<PAGE>
CUSIP No. 721596104
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Company
I.R.S. #14-0689340
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of New York
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NUMBER OF 5 SOLE VOTING POWER
SHARES Disclaimed (see 9 below)
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH Disclaimed (see 9 below)
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Beneficial ownership of all shares disclaimed by General Electric Company
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|X| Disclaimed (see 9 below)
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
Not applicable (see 9 above)
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12 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 19
<PAGE>
CUSIP No. 721596104
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Capital Corporation
I.R.S. #13-1500700
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of New York
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NUMBER OF 5 SOLE VOTING POWER
SHARES 700,000
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH None
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 700,000
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
None
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
700,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.03%
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12 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 19
<PAGE>
CUSIP No. 721596104
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Capital Services, Inc. (formerly known as General
Electric Financial Services, Inc.)
I.R.S. #06-1109503
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of New York
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES Disclaimed (see 9 below)
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH None
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH Disclaimed (see 9 below)
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
None
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Beneficial ownership of all shares disclaimed by General Electric Capital
Services, Inc.
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|X| Disclaimed (see 9 above)
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
Not applicable (see 9 above)
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12 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 19
<PAGE>
INTRODUCTORY NOTE: This statement is filed on behalf of General Electric
Company, a New York corporation ("GE"), General Electric Investment Corporation,
a Delaware corporation and a wholly owned subsidiary of GE ("GEIC"), Trustees of
General Electric Pension Trust, a New York common law trust ("GEPT"), General
Electric Capital Services, Inc., a Delaware corporation and a wholly owned
subsidiary of GE ("GECS") and General Electric Capital Corporation, a New York
corporation and a wholly owned subsidiary of GECS ("GECC"). GEIC is a registered
investment adviser and acts as Investment Manager of GEPT, and may be deemed to
be the beneficial owner of 900,000 shares of Common Stock of Pilot Network
Services Inc. ("the Issuer") owned by GEPT. GEPT, GEIC, GECC and GECS each
expressly disclaim that they are members of a "group". GECS disclaims beneficial
ownership of all shares held by GECC. GE disclaims beneficial ownership of all
shares and expressly disclaims that it is a member of a "group".
Item 1(a) Name of Issuer
Pilot Network Services Inc.
Item 1(b) Address of Issuer's Principal Executive Office
1080 Marina Village Parkway, Alameda, CA 94501
Item 2(a) Name of Person Filing
Trustees of General Electric Pension Trust (See Schedule II)
General Electric Investment Corporation, as Investment Manager
of GEPT
General Electric Company
General Electric Capital Corporation
General Electric Capital Services, Inc.
Item 2(b) Address of Principal Business Office or, if none, Residence
The address of the principal offices of GEPT, GEIC and GECS is 3003
Summer Street Stamford, Connecticut 06904. The address of the
principal offices of General Electric Company is 3135 Easton
Turnpike, Fairfield, Connecticut 06431. The address of GECC is 260
Long Ridge Road, Stamford, CT 06927.
Item 2(c) Citizenship
General Electric Pension Trust - New York common law trust
General Electric Investment Corporation - Delaware corporation
General Electric Company - New York corporation
General Electric Capital Corporation - New York corporation
General Electric Capital Services, Inc. - Delaware corporation
Item 2(d) Title of Class of Securities
Page 7 of 19
<PAGE>
Common Stock
Item 2(e) CUSIP Number
721596104
Item 3 If this statement is filed pursuant to ss.ss.240.13d-1(b) or
240.13-2(b) or (c), check whether the
person filing is a:
(a) [ ] Broker or Dealer registered under Section 15 of the Act (15
U.S.C.78o)
(b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C.78c)
(c) [ ] Insurance company as defined in Section 3(a)(19) of the Act
(15 U.S.C.78c)
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940 (U.S.C.80a-8)
(e) [ ] An Investment Adviser in accordance with
ss.240.13-1(b)(1)(ii)(E)
(f) [ ] An Employee Benefit Plan or Endowment Fund in accordance
with ss.240.13d-1(b)(1)(ii)(F)
(g) [ ] A Parent Holding Company or Control Person in accordance
with ss.240.13d-1(b)(1)(ii)G)
(h) [ ] A Savings Association as defined in Section 3(b) of the
federal Deposit Insurance Act (U.S.C. 1813)
(i) [ ] A Church Plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3)
(j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J)
Item 4 Ownership
GEPT GEIC GE
(a) Amount beneficially owned 900,000 900,000 disclaimed
(b) Percent of class 6.46% 6.46% disclaimed
(c) No. of shares to which person has
Page 8 of 19
<PAGE>
(i) sole power to vote or direct
the vote None None None
(ii) shared power to vote or
direct 900,000 900,000 disclaimed
(iii) sole power to dispose or to
direct disposition None None None
(iv) share power to dispose or to
direct disposition 900,000 900,000 disclaimed
GECC GECS
(a) Amount beneficially owned 700,000 disclaimed
(b) Percent of class 5.03% disclaimed
(c) No. of shares to which person has
(i) sole power to vote or direct
the vote 700,000 disclaimed
(ii) shared power to vote or
direct None None
(iii) sole power to dispose or to 700,000 disclaimed
direct disposition
(iv) share power to dispose or to None None
direct disposition
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 than five percent of the class of securities, check
the following:
|_|
Item 6 Ownership of More than Five Percent on Behalf of Another Person
Not applicable
Page 9 of 19
<PAGE>
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
Item 9 Notice of Dissolution of Group
Not applicable
Item 10 Certification
Not applicable
Page 10 of 19
<PAGE>
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.
Dated: February 16, 1999
GENERAL ELECTRIC PENSION TRUST
By: General Electric Investment
Corporation, its Investment Manager
By: /s/ Michael M. Pastore
-------------------------------
Name: Michael M. Pastore
Title: Vice President
Page 11 of 19
<PAGE>
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.
Dated: February 16, 1999
GENERAL ELECTRIC INVESTMENT
CORPORATION
By: /s/ Michael M. Pastore
-------------------------------
Name: Michael M. Pastore
Title: Vice President
Page 12 of 19
<PAGE>
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.
Dated: February 16, 1999
GENERAL ELECTRIC COMPANY
By: /s/ John H. Myers
-------------------------------
Name: John H. Myers
Title: Vice President
Page 13 of 19
<PAGE>
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.
Dated: February 16, 1999
GENERAL ELECTRIC CAPITAL
CORPORATION
By: /s/ John Malfettone
--------------------------------
Name: John Malfettone
Title: Vice President
Page 14 of 19
<PAGE>
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.
Dated: February 16, 1999
GENERAL ELECTRIC CAPITAL
SERVICES, INC.
By: /s/ Paul Licursi
--------------------------------
Name: Paul Licursi
Title: Attorney-in-Fact
Page 15 of 19
<PAGE>
POWER OF ATTORNEY
The undersigned, General Electric Capital Services, Inc., a Delaware
corporation (hereinafter referred to as the "Corporation") does hereby make,
constitute and appoint the persons listed below as the Corporation's true and
lawful agent and attorney-in-fact (hereinafter referred to as the "Attorney") to
act either together or alone in the name and on behalf of the Corporation for
and with respect to the matters hereinafter described.
Name of Attorney:
Michael A. Gaudino
J. Gordon Smith
Michael E. Pralle
Paul J. Licursi
Each attorney shall have the power and authority to do the following:
To execute and deliver any Schedule 13D, Schedule 13G or Forms 3, 4, and 5
or any amendments thereto required to be filed with the Securities and
Exchange Commission under the Securities Exchange Act of 1934 on behalf of
the Corporation with regard to any securities owned by the Corporation,
General Electric Capital Corporation or any of their subsidiaries.
And, in connection with the foregoing, to execute and deliver all
documents, acknowledgements, consents and other agreements and to take such
further action as may be necessary or convenient for the Corporation in order to
more effectively carry out the intent and purpose of the foregoing.
Agreements, commitments, documents, instruments, and other writing
executed by the Attorney in accordance with the terms hereof shall be binding
upon the Corporation without attestation and without affixation of the seal of
the Corporation. The Power of attorney conferred hereby shall not be delegable
by any Attorney. The Attorney shall serve without compensation for acting in the
capacity of agent and attorney-in-fact hereunder.
Unless revoked by the Corporation, this Power of Attorney shall be
governed under the laws of the State of New York and the authority of the
Attorney hereunder shall terminate on March 31, 2000.
IN WITNESS WHEREOF, the Corporation has caused this Power of Attorney to
be executed, attested and its corporate seal to be affixed pursuant to authority
granted by the Corporation's board of directors, as of the 30th day of April,
1998.
General Electric Capital Services, Inc.
(Corporate Seal)
By: /s/ Nancy E. Barton
--------------------------------------
Nancy E. Barton, Senior Vice President
Attest:
/s/ Brian T. McAnaney
- --------------------------------------
Brian T. McAnaney, Assistant Secretary
Page 16 of 19
<PAGE>
Schedule I
JOINT FILING AGREEMENT
This will confirm the agreement by and between all the undersigned
that the Schedule 13G on or about this date and any amendments thereto with
respect to the beneficial ownership by the undersigned of shares of the Common
Stock of Pilot Network Services Inc. is being filed on behalf of each of the
undersigned.
Dated: February 16, 1999
GENERAL ELECTRIC PENSION TRUST
By: General Electric Investment
Corporation, its Investment Manger
By: /s/ Michael M. Pastore
-------------------------------
Name: Michael M. Pastore
Title: Vice President
GENERAL ELECTRIC INVESTMENT
CORPORATION
By: /s/ Michael M. Pastore
-------------------------------
Name: Michael M. Pastore
Title: Vice President
GENERAL ELECTRIC COMPANY
By: /s/ John H. Myers
-------------------------------
Name: John H. Myers
Title: Vice President
Page 17 of 19
<PAGE>
GENERAL ELECTRIC CAPITAL
CORPORATION
By: /s/ John Malfettone
-------------------------------
Name: John Malfettone
Title: Vice President
GENERAL ELECTRIC CAPITAL
SERVICES, INC.
By: /s/ Paul Licursi
-------------------------------
Name: Paul Licursi
Title: Attorney-in-Fact
Page 18 of 19
<PAGE>
Schedule II
TRUSTEES OF GENERAL ELECTRIC PENSION TRUST
3003 Summer Street, P.O. Box 7900
Stamford, Connecticut 06904
The names of the Trustees of General Electric Pension Trust are as follows:
Eugene K. Bolton
Michael J. Cosgrove
Ralph R. Layman
Alan M. Lewis
Robert A. MacDougall
John H. Myers
Thomas J. Szkutak
Donald W. Torey
Page 19 of 19
