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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )*
-----
XYLAN CORPORATION
-------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.001 par value
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(Title of Class of Securities)
984151-10-0
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(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).
Page 1 of 6 Pages
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CUSIP NO. 984151-10-0 13G PAGE 2 OF 6 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kim Irrevocable Children's Trust
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
CALIFORNIA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 1,000,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 1,000,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,000,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11 2%, based on 41,947,025 total shares outstanding as of December 31, 1996
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
00
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 2 of 6 pages
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CUSIP NO. 984151-10-0 13G PAGE 3 OF64 PAGES
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- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kim Family Trust
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
CALIFORNIA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 5,430,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 5,430,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
5,430,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11 13%, based on 41,947,025 total shares outstanding as of December 31, 1996
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
00
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 3 of 6 pages
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Page 4
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Schedule 13G
Under the Securities Exchange Act of 1934
Fee enclosed [_] or Amendment No. 3
Item 1(a) Name of Issuer.
XYLAN Corporation
Item 1(b) Address of Issuer's Principal Executive Offices.
26679 W. Agoura Road
Suite 100
Calabasas, CA 91302
Item 2(a) Name of Person Filing.
Kim Irrevocable Children's Trust
Kim Family Trust
Item 2(b) Address of Principal Business Office.
25511 W. Colette Ave.
Calabasas, CA 91302
Item 2(c) Citizenship. California
Item 2(d) Title of Class of Securities. Common Stock, $0.001 par value
Item 2(e) CUSIP Number. 984151-10-0
Item 3 If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b),
(a) __ Broker Dealer registered under Section 15 of the Act
(b) __ Bank as defined in Section 3(a)(6) of the Act
(b) __ Insurance Company as defined in Section 3(a)(19)
of the Act
(c) __ Investment Company registered under Section 8 of the
Investment Company Act
(d) __ Investment Adviser registered under Section 203 of
the Investment Advisers Act of 1940
(e) __ Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund;
see (S)240.13d-1(b)(1)(ii)(F)
(f) __ Parent Holding Company, in accordance with
(S)240.13d-1(b)(ii)(G) (Note: See Item 7)
(g) __ Group, in accordance with (S)240.13d-1(b)(1)(ii)(H)
Page 4 of 6 pages
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Page 5
Item 4. Ownership
(a) Amount Beneficially Owned
Kim Irrevocable Children's Trust 1,000,000
Kim Family Trust 5,430,000
(b) Percent of Class
Kim Irrevocable Children's Trust 2%
Kim Family Trust 13%
(*based on 41,947,025 total shares outstanding as of December 31,
1996)
(c) Number of shares as to which such person has:
i) sole power to vote or to direct the vote
Kim Irrevocable Children's Trust 1,000,000
Kim Family Trust 5,430,000
ii) shared power to vote or to direct vote
iii)sole power to dispose or to direct disposition of
Kim Irrevocable Children's Trust 1,000,000
Kim Family Trust 5,430,000
(iv) shared power to dispose or to direct disposition of
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
Item 8. Identification and Classification of Members of the Group.
Kim Irrevocable Children's Trust (OO), Kim Family Trust (OO)
Item 9. Notice of Dissolution of the Group.
not applicable
Page 5 of 6 pages
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Page 6
Item 10. Certification.
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 transactions having
such purposes or effect.
After reasonable inquiry and to the best of my knowledge and believe, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 10, 1997
KIM IRREVOCABLE CHILDREN'S TRUST
/S/ Steve Yun Kim
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Steve Yun Kim, Trustee
KIM FAMILY TRUST
/S/ Steve Yun Kim and Jung Sil Kim
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Steve Yun Kim and Jung Sil Kim, Trustee
Page 6 of 6 pages
