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OMB APPROVAL
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OMB Number 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[_] Check box if no longer subject to Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Johnson Kenneth W.
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(Last) (First) (Middle)
411 First Avenue S., Suite 600
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(Street)
Seattle WA 98104
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Tera Computer Company (TERA)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
03/99
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[_] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
Chief Financial Officer
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7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[_] Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 03/05/99 G V 100 D n/a 14,408/1 D
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Common Stock 2,600 I/2 As trustee
of two
irrevocable
trusts FBO
Reporting
Person's
children
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1/ Includes an aggregate of 397 shares of common stock purchased by the reporting person on 9/30/98 and 3/31/98 under the
issuer's Employee Stock Purchase Plan. These transactions were exempt from the reporting requirements under Section 16(a)
pursuant to Rule 16a-3(f)(1)(i)(B).
2/ Reporting Person disclaims beneficial ownership of these shares as to which he has voting and dispositive powers as trustee.
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Page 1 of 2
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Two Year Note 03/16/99 P $100,000 Immed. 3/31/01 Common $100,000 $100,000 20,000 D
Convertible into /3 Stock /3 /3 /3
Common Stock
(Right to Buy)
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Common Stock 03/16/99 P 3,000 Immed. 3/31/04 Common 3,000 $100,000 3,000 D
Purchase Warrant Stock /3
(Right to Buy)
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Explanation of Responses:
See Page 1 for explanation of footnotes (1) - (2).
3/ Reporting Person acquired (i) a two year note in the principal amount of $100,000 convertible into 20,000 shares of common
stock at a conversion price of $5.00 per share and (ii) a warrant to purchase 3,000 shares of common stock at an exercise
price of $5.00 per share.
</TABLE>
/s/ KENNETH W. JOHNSON 04/08/99
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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