UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
SRB Associates V, L.P.
c/o Sevin Rosen Fund V L.P.
Two Galleria Tower
13455 Noel Road, Suite 1670
Dallas, TX 75240
2. Date of Event Requiring Statement (Month/Day/Year)
February 7, 1997
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
CIENA Corporation
("CIEN")
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
6. If Amendment, Date of Original (Month/Day/Year)
February 5, 1997
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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<S> <C> <C> <C>
Common Stock |204,325 |I |By Sevin Rosen Fund IV L.P. (1) |
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
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<S> <C> <C> <C> <C> <C> <C> <C>
Series A Convertible Pre|(2) |(2) |Common Stock |5,743,945| |I |By Sevin Rosen Fund IV L.P.|
ferred Stock | | | | | | | (1) |
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Series B Convertible Pre|(2) |(2) |Common Stock |3,704,990| |I |By Sevin Rosen Fund IV L.P.|
ferred Stock | | | | | | | (1) |
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Series C Convertible Pre|(2) |(2) |Common Stock |1,428,570| |I |By Sevin Rosen Fund IV L.P.|
ferred Stock | | | | | | | (1) |
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Series C Convertible Pre|(2) |(2) |Common Stock |714,285 | |I |By Sevin Rosen Fund V L.P. |
ferred Stock | | | | | | |(1) |
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</TABLE>
Explanation of Responses:
(1) SRB Associates V L.P. is a general partner of Sevin Rosen Fund V L.P. and
an affiliate of Sevin Rosen Fund IV
L.P. and may be deemed to beneficially own the shares held by these
entities.
(2) Upon the closing of the Issuer's initial public offering of its Common
Stock, each issued and outstanding share
of its convertible preferred stock will automatically convert into five shares
of Common Stock.
SIGNATURE OF REPORTING PERSON
/s/ John V. Jaggers, General Partner
DATE
October 7, 1997
