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
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
February 1997
5. If Amendment, Date of Original (Month/Year)
February 5, 1997
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)
(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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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 |2/12/9|C | |10,877,505 |A | |11,081,830 |I |By Sevin Rosen Fund IV L.P.|
|7 | | | | | | | | (1) |
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Common Stock |2/12/9|C | |714,285 |A | |714,285 |D | |
|7 | | | | | | | | |
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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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Series AConvertible Pr| |2/12/|C | |1,148,789 |D |(2) |(2) |Common Stock|5,743,9| |-0- |I |By Sevin Ros|
eferred Stock | |97 | | | | | | | |45 | | | |en Fund IV L|
| | | | | | | | | | | | | |.P. (1) |
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Series B Convertible P| |2/12/|C | |740,998 |D |(2) |(2) |Common Stock|3,704,9| |-0- |I |By Sevin Ros|
referred Stock | |97 | | | | | | | |90 | | | |en Fund IV L|
| | | | | | | | | | | | | |.P. (1) |
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Series C Convertible P| |2/12/|C | |285,714 |D |(2) |(2) |Common Stock|1,428,5| |-0- |I |By Sevin Ros|
referred Stock | |97 | | | | | | | |70 | | | |en Fund IV L|
| | | | | | | | | | | | | |.P. (1) |
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Series C Convertible P| |2/12/|C | |142,857 |D |(2) |(2) |Common Stock|714,285| |-0- |D | |
referred Stock | |97 | | | | | | | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Sevin Rosen Fund V L.P. is an affiliate of Sevin Rosen Fund IV L.P. and
may be deemed to beneficially own the
shares held by such
entity.
(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 automatically converted into five shares of
Common Stock.
By: SEVIN ROSEN FUND V
L.P.
By: SRB ASSOCIATES V L.P., its general
partner
By: /s/ John V. Jaggers October
7, 1997
John V. Jaggers, General
Partner
SIGNATURE OF REPORTING PERSON
See signature on last page
DATE
October 7, 1997
