UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue.
1. Name and Address of Reporting Person(s)
Auerbuch Boris J.
48664 Milmont Drive
Fremont CA 94538
2. Issuer Name and Ticker or Trading Symbol
Premisys Communication, Inc. (PRMS)
3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
4. Statement for Month/Year
08/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
Senior Vice President & CTO
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>
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Security 2)Trans- 3.Trans- 4.Securities Acquired(A) 5)Amount of 6) 7)Nature of
action action or Disposed of (D) Securities Indirect
Date Code A Beneficially D Beneficial
(Month/ or Owned at or Ownership
Day/Year) Code V Amount D Price End of Month I
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C><C> <C> <C><C>
Common Stock 08/18/98 M 9,375 A $8.187500 D Direct
Common Stock 08/18/98 M 13,326 A $2.000000 D Direct
Common Stock 08/18/98 M 22,645 A $5.250000 D Direct
Common Stock 08/18/98 C 66,739 A $5.250000 272,991 D Direct
<CAPTION>
Table II (PART 1) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and
Security or Exercise action action Securities Acquired (A) Expiration Date
Price of Date Code or Disposed of (D)
Derivative
Security Code V A D Exercisable Expiration
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Option (right $2.000000 08/18/98 M 13,326 07/13/04
to buy)
Incentive Stock Option (right $5.250000 08/18/98 M 22,645 03/14/05
to buy)
Incentive Stock Option (right $5.250000 08/18/98 M 66,739 03/14/05
to buy)
Non-Qualified Stock Option $8.187500 08/18/98 M 9,375 04/24/07
(right to buy)
<CAPTION>
Table II (PART 2) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative 3)Trans- 7)Title and Amount 8)Price 9)Number of 10) 11)Nature of
Security action of Underlying of Deri- Derivative Indirect
Date Securities vative Securities D Beneficial
Amount or Security Beneficially or Ownership
Number of Owned at I
- Title Shares End of Month
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Option (right 08/18/98 Common Stock 13,326 0 D Direct
to buy)
Incentive Stock Option (right 08/18/98 Common Stock 22,645 D Direct
to buy)
Incentive Stock Option (right 08/18/98 Common Stock 66,739 21,000 D Direct
to buy)
Non-Qualified Stock Option 08/18/98 Common Stock 9,375 18,125 D Direct
(right to buy)
<FN>
Explanation of Responses:
- -
Includes 675 Shares acquired under the Premisys Communications, Inc. Employee Stock Purchase Plan in July 1998.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ Auerbuch Boris J.
DATE