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. See Instructions 1(b).
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. Issuer Name and Ticker or Trading Symbol
CIENA Corporation
("CIEN")
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
May 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
( ) 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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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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Common Stock |5/27/9|J(1)| |1,108,183 |D | |9,973,647 |I |By Sevin Rosen Fund IV L.P.|
|7 | | | | | | | | (2) |
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Common Stock |5/27/9| | | | | |42,375 |I |By Sevin Rosen Bayless Mgmt|
|7 | | | | | | | |. Co. (2) |
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Common Stock |5/27/9|J(3)| |71,429 |D | |642,856 |I |By Sevin Rosen Fund V L.P. |
|7 | | | | | | | |(2) |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Distribution by Sevin Rosen Fund IV L.P. to its
partners.
(2) SRB Associates V L.P. is the general partner of Sevin Rosen Fund V L.P.
and an affiliate of each of Sevin
Rosen Fund IV L.P. and Sevin Rosen Bayless Management Co. and may be deemed to
beneficially own the shares
held by these
entities.
(3) Distribution by Sevin Rosen Fund V L.P. to its
partners.
SIGNATURE OF REPORTING PERSON
/s/ John V. Jaggers, General Partner
DATE
June 10, 1997
