SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Rule 13d-102
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
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)
December 31, 1999
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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 (however, see
the Notes).
<PAGE>
CUSIP No. 721596104 13G Page 2 of 17
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Trustees of 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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5 SOLE VOTING POWER
None
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NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 450,000
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
450,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
450,000
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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)
3.27% (8.28% if aggregated with the shares beneficially owned by General
Electric Capital Corporation)
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12 TYPE OF REPORTING PERSON*
EP
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 721596104 13G Page 3 of 17
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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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5 SOLE VOTING POWER
None
--------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 450,000
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
450,000
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
450,000
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.27% (8.28% if aggregated with the shares beneficially owned by General
Electric Capital Corporation)
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12 TYPE OF REPORTING PERSON*
IA, CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 721596104 13G Page 4 of 17
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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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5 SOLE VOTING POWER
Disclaimed (see 9 below)
--------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON Disclaimed (see 9 below)
WITH --------------------------------------------------------------
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*
Disclaimed (see 9 above) |X|
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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>
CUSIP No. 721596104 13G Page 5 of 17
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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
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of New York
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5 SOLE VOTING POWER
700,000
--------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY None
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 700,000
WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
None
- --------------------------------------------------------------------------------
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*
|_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.01% (8.28% if aggregated with the shares beneficially owned by the Trustee
of General Electric Pension Trust and General Electric Investment
Corporation)
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12 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 721596104 13G Page 6 of 17
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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 Delaware
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5 SOLE VOTING POWER
Disclaimed (see 9 below)
--------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY None
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON Disclaimed (see 9 below)
WITH --------------------------------------------------------------
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.
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
Disclaimed (see 9 above) |X|
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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>
INTRODUCTORY NOTE: This Amendment No. 1 amends the Statement on Schedule 13G
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") on February 17, 1999 (as amended, the "Schedule
13G"). GEIC is a registered investment adviser and acts as the Investment
Manager of GEPT, and may be deemed to be the beneficial owner of 450,000 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".
The items from the Schedule 13G are hereby amended to read as follows:
Item 4 Ownership
GEPT GEIC GE
(a) Amount beneficially owned 450,000 450,000 disclaimed
(b) Percent of class 3.27% 3.27% disclaimed
(c) No. of shares to which person
has
(i) sole power to vote or
direct the vote None None None
(ii) shared power to vote or
direct 450,000 450,000 disclaimed
(iii) sole power to dispose
or to direct disposition None None None
(iv) shared power to dispose
or to direct disposition 450,000 450,000 disclaimed
GECC GECS
(a) Amount beneficially owned 700,000 disclaimed
(b) Percent of class 5.01% disclaimed
(c) No. of shares to which person
has
Page 7 of 17
<PAGE>
(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 direct disposition 700,000 disclaimed
(iv) shared power to dispose
or to direct disposition None None
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 10 Certification
Not applicable
Page 8 of 17
<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 14, 2000
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 9 of 17
<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 14, 2000
GENERAL ELECTRIC INVESTMENT CORPORATION
By: /s/ Michael M. Pastore
---------------------------------
Name: Michael M. Pastore
Title: Vice President
Page 10 of 17
<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 14, 2000
GENERAL ELECTRIC COMPANY
By: /s/ John H. Myers
---------------------------------
Name: John H. Myers
Title: Vice President
Page 11 of 17
<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 14, 2000
GENERAL ELECTRIC CAPITAL CORPORATION
By: /s/ Michael E. Pralle
---------------------------------
Name: Michael E. Pralle
Title: Vice President
Page 12 of 17
<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 14, 2000
GENERAL ELECTRIC CAPITAL SERVICES, INC.
By: /s/ Michael E. Pralle
---------------------------------
Name: Michael E. Pralle
Title: Vice President
Page 13 of 17
<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. MacAnaney
- --------------------------------------------
Brian T. McAnaney, Assistant Secretary
Page 14 of 17
<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 14, 2000
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 15 of 17
<PAGE>
GENERAL ELECTRIC CAPITAL CORPORATION
By: /s/ Michael E. Pralle
---------------------------------
Name: Michael E. Pralle
Title: Vice President
GENERAL ELECTRIC CAPITAL SERVICES, INC.
By: /s/ Michael E. Pralle
---------------------------------
Name: Michael E. Pralle
Title: Attorney-in-Fact
Page 16 of 17
<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
Donald W. Torey
John J. Walker
Page 17 of 17
