UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Diamond Multimedia Systems, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
252714-10-0
------------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement / /. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*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 the 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
<PAGE>
CUSIP No. 252714-10-0 13G Page 2 of 6 Pages
-------------
================================================================================
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Chong-Moon Lee
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
Not Applicable. (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,614,757
OWNED BY EACH ------------------------------------------------------------
REPORTING
PERSON WITH 6 SHARED VOTING POWER
60,000
------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
2,614,757
------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
60,000
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,674,757
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS PRESENTED BY AMOUNT IN ROW 9
7.8%
- -------------------------------------------------------------------------------
12 TYPES OF REPORTING PERSON
IN
================================================================================
<PAGE>
CUSIP No. 252714-10-0 13G Page 3 of 6 Pages
-------------
Item 1(a). Name of Issuer
- --------- --------------
Diamond Multimedia Systems, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices
- --------- -----------------------------------------------
2880 Junction Avenue
San Jose, CA 95134
Item 2(a). Name of Person Filing
- --------- ---------------------
Chong-Moon Lee
Item 2(b). Address of Principal Business Office or, if none,
- --------- Residence
-------------------------------------------------
c/o AmBex Venture Group, LLC
1245 Oakmead Parkway
Sunnyvale, California 94086
Item 2(c). Citizenship
- --------- -----------
United States
Item 2(d). Title of Class of Securities
- --------- ----------------------------
Common Stock
Item 2(e). CUSIP Number
- --------- ------------
252714-10-0
Item 3. If this statement is filed pursuant to Rules 13d-1(b)
- ------ or 13d-2(b), check whether the person filing is a:
-------------------------------------------------------
(a) / / Broker or Dealer registered under Section 15 of the
Act;
(b) / / Bank as defined in section 3(a)(6) of the Act;
(c) / / Insurance Company as defined in section 3(a)(19) of
the Act;
<PAGE>
CUSIP No. 252714-10-0 13G Page 4 of 6 Pages
-------------
(d) / / Investment Company registered under section 8 of the
Investment Company Act;
(e) / / Investment Adviser registered under section 203 of
the Investment Advisers Act of 1940;
(f) / / Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income Security Act
of 1974 or Endowment Fund; see Section 240.13d-1(b)(1)(ii)(F);
(g) / / Parent Holding Company, in accordance with Section
240.13d-1(b)(ii)(G) (Note: See Item 7); or
(h) / / Group, in accordance with Section 240.13d-
1(b)(1)(ii)(H).
Item 4. Ownership
- ------ ---------
(a) Amount Beneficially Owned: 2,674,757
------------------------------
(b) Percent of Class: 7.8%
---------------------------------------
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote
2,614,757
------------------------------------------------------
(ii) shared power to vote or to direct the vote
60,000
------------------------------------------------------
(iii) sole power to dispose or to direct the
disposition of 2,614,757
------------------------------------------------------
(iv) shared power to dispose or to direct the
disposition of 60,000
------------------------------------------------------
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 / /.
<PAGE>
CUSIP No. 252714-10-0 13G Page 5 of 6 Pages
-------------
Item 6. Ownership of More than Five Percent on Behalf of Another
- ------ Person
--------------------------------------------------------
Shares reported in Item 4 include an aggregate of 670,546 shares
held by certain charitable trusts, of which Mr. Lee is the
Trustee. Assets of the trusts, including proceeds from the sale
of securities, are distributable for charitable purposes as
specified in the trusts, subject to periodic payments of unitrust
amounts which are due to Mr. Lee under the provisions of the
trusts.
Shares reported in Item 4 also include an aggregate of 60,000
shares held by a non-profit foundation, for which Mr. Lee serves
as Chairman of the Board of Directors. By virtue of his position,
Mr. Lee shares voting and investment power with respect to such
shares. Assets of the foundation, including proceeds from the
sale of securities, are distributable for charitable purposes as
specified in the charter documents of the foundation.
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>
CUSIP No. 252714-10-0 13G Page 6 of 6 Pages
-------------
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 14, 1997
----------------------------------------
Date
/s/ Chong-Moon Lee
----------------------------------------
Chong-Moon Lee
