-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IZWMGjW/UMqmVwZ2YlyVpmhHJpgPP+IX5XuTcvAUaefhlU+vtIOdUHbMxeVqceez LlH7GirAE5kLngG0Up6ApA== 0000950005-04-000238.txt : 20040227 0000950005-04-000238.hdr.sgml : 20040227 20040227171250 ACCESSION NUMBER: 0000950005-04-000238 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20040227 GROUP MEMBERS: ICP MANAGEMENT V, LLC GROUP MEMBERS: INTEGRAL CAPITAL MANAGEMENT V, LLC GROUP MEMBERS: INTEGRAL CAPITAL MANAGEMENT VI, LLC GROUP MEMBERS: INTEGRAL CAPITAL PARTNERS V SIDE FUND, L.P. GROUP MEMBERS: INTEGRAL CAPITAL PARTNERS V SLP SIDE FUND, LLC GROUP MEMBERS: INTEGRAL CAPITAL PARTNERS V, L.P. GROUP MEMBERS: INTEGRAL CAPITAL PARTNERS VI, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MEMBERWORKS INC CENTRAL INDEX KEY: 0001020996 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 061276882 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-47315 FILM NUMBER: 04636401 BUSINESS ADDRESS: STREET 1: 680 WASHINGTON BLVD., SUITE 1100 CITY: STAMFORD STATE: CT ZIP: 06901 BUSINESS PHONE: 2033247635 MAIL ADDRESS: STREET 1: 9 WEST BROAD STREET CITY: STAMFORD STATE: CT ZIP: 06902 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: INTEGRAL CAPITAL MANAGEMENT V LLC CENTRAL INDEX KEY: 0001112500 IRS NUMBER: 943355276 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 2750 SAND HILL ROAD CITY: MENLO PARK STATE: CA ZIP: 94025 BUSINESS PHONE: 6502330360 MAIL ADDRESS: STREET 1: 2750 SAND HILL ROAD CITY: MENLO PARK STATE: CA ZIP: 94025 SC 13G 1 p18238_sc13g.txt SCHEDULE 13G -------------------------- OMB APPROVAL -------------------------- OMB Number: 3235-0145 Expires: December 31, 2005 Estimated average burden hours per response......11 -------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ------------ SCHEDULE 13G (Amendment No.__)* INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1 (b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2 (b) Memberworks Incorporated - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 586002107 - -------------------------------------------------------------------------------- (CUSIP Number) February 19, 2004 - -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: |_| Rule 13d-1(b) |X| Rule 13d-1(c) |_| Rule 13d-1(d) *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 disclosures provided in a prior cover page. The information required on the remainder of this 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). (Continued on following pages) Page 1 of 19 Pages Exhibit Index Contained on Page 16 CUSIP No. 586002107 Page 2 of 19 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Integral Capital Management V, LLC ("ICM5") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware (limited liability company) - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER -0- -------------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 263,260 shares, which shares are directly owned by OWNED BY Integral Capital Partners V, L.P. ("ICP5"). ICM5 is the EACH general partner of ICP5. REPORTING -------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH -0- -------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 263,260 shares (see response to Item 6) - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 263,260 shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.55% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 586002107 Page 3 of 19 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) ICP Management V, LLC ("ICP Management 5") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware (limited liability company) - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER -0- -------------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 4,260 shares, of which 3,450 shares are directly owned OWNED BY by Integral Capital Partners V Side Fund, L.P. ("Side EACH Fund") and 810 shares are directly owned by Integral REPORTING Capital Partners V SLP Side Fund, LLC ("SLP Side Fund"). PERSON ICP Management 5 is the general partner of Side Fund and WITH the Manager of SLP Side Fund. -------------------------------------------------------- 7 SOLE DISPOSITIVE POWER -0- -------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 4,260 shares (see response to Item 6) - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,260 shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.04% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 586002107 Page 4 of 19 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Integral Capital Management VI, LLC ("ICM6") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware (limited liability company) - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER -0- -------------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 334,580 shares, which are directly owned by Integral OWNED BY Capital Partners VI, L.P. ("ICP6"). ICM6 is the general EACH partner of ICP6. REPORTING -------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH -0- -------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 334,580 shares (see response to Item 6) - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 334,580 shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.24% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 586002107 Page 5 of 19 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Integral Capital Partners V, L.P. ("ICP5") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware (limited liability company) - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER -0- -------------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 263,260 shares are directly owned by ICP5. Integral OWNED BY Capital Management V, LLC is the general partner of EACH ICP5. REPORTING -------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH -0- -------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 263,260 shares (see response to Item 6) - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 263,260 shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.55% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 586002107 Page 6 of 19 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Integral Capital Partners V Side Fund, L.P. ("Side Fund") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware (limited liability company) - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER -0- -------------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 3,450 shares are directly owned by Side Fund. ICP OWNED BY Management V, LLC is the general partner of Side Fund. EACH -------------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH -0- -------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 3,450 shares (see response to Item 6) - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,450 shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.03% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 586002107 Page 7 of 19 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Integral Capital Partners V SLP Side Fund, LLC ("SLP Side Fund") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware (limited liability company) - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER -0- -------------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 810 shares, which are directly owned by Integral Capital OWNED BY Partners V SLP Side Fund, LLC ("SLP Side Fund"). ICP EACH Management V, LLC is the Manager of SLP Side Fund. REPORTING -------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH -0- -------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 810 shares (see response to Item 6) - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 810 shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.01% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 586002107 Page 8 of 19 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Integral Capital Partners VI, L.P. ("ICP6") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware (limited liability company) - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER -0- -------------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 334,580 shares, which are directly owned by ICP6. OWNED BY Integral Capital Management VI, LLC is the general EACH partner of ICP6. REPORTING -------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH -0- -------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 334,580 shares (see response to Item 6) - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 334,580 shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.24% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 586002107 Page 9 of 19 Pages - -------------------------------------------------------------------------------- ITEM 1(a). NAME OF ISSUER: Memberworks Incorporated ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 680 Washington Blvd., Suite 110 Stamford, CT 06901 ITEM 2(a), (b), (c). NAME OF PERSON FILING, ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE, AND CITIZENSHIP: This statement is being filed by Integral Capital Management V, LLC, a Delaware limited liability company ("ICM5"), ICP Management V, LLC, a Delaware limited liability company ("ICP Management 5") and Integral Capital Management VI, LLC, a Delaware limited liability company ("ICM6"). The principal business address of ICM5, ICP Management 5 and ICM6 is 3000 Sand Hill Road, Building 3, Suite 240, Menlo Park, California 94025. ICM5 is the general partner of Integral Capital Partners V, L.P., a Delaware limited partnership ("ICP5"). ICP Management 5 is the general partner of Integral Capital Partners V Side Fund, L.P., a Delaware limited partnership ("Side Fund") and the Manager of Integral Capital Partners V SLP Side Fund, LLC, a Delaware limited liability company ("SLP Side Fund"). ICM6 is the general partner of Integral Capital Partners VI, L.P., a Delaware limited partnership ("ICP6"). With respect to ICM5, ICP Management 5 and ICM6, this statement relates only to ICM5's, ICP Management 5's and ICM6's indirect, beneficial ownership of shares of Common Stock of the Issuer (the "Shares"). The Shares have been purchased by ICP5, Side Fund, SLP Side Fund and ICP6, and none of ICM5, ICP Management 5 or ICM6 directly or otherwise hold any Shares. Management of the business affairs of ICM5, ICP Management 5 and ICM6, including decisions respecting disposition and/or voting of the Shares, resides in a majority of the managers of ICM5, ICP Management 5 and ICM6, respectively, such that no single manager of ICM5, ICP Management 5, or ICM6 has voting and/or dispositive power of the Shares. ITEM 2(d). TITLE OF CLASS OF SECURITIES: Common Stock CUSIP No. 586002107 Page 10 of 19 Pages - -------------------------------------------------------------------------------- ITEM 2(e). CUSIP NUMBER: 586002107 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), or 13d-2(b) or (c), CHECK WHETHER THE PERSON FILING IS A: (a) |_| Broker or dealer registered under Section 15 of the Exchange Act. (b) |_| Bank as defined in Section 3(a)(6) of the Exchange Act. (c) |_| Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) |_| Investment company registered under Section 8 of the Investment Company Act. (e) |_| An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) |_| An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) |_| A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) |_| A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) |_| A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(J). If this statement is filed pursuant to Rule 13d-1(c), check this box. |X|. ITEM 4. OWNERSHIP. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. A. Integral Capital Management V, LLC ("ICM5") (a) Amount Beneficially Owned: 263,260 (b) Percent of Class: 2.55% (c) Number of shares as to which such person has: 1. Sole power to vote or to direct vote: -0- 2. Shared power to vote or to direct vote: 263,260 3. Sole power to dispose or to direct the disposition: -0- 4. Shared power to dispose or to direct the disposition: 263,260 CUSIP No. 586002107 Page 11 of 19 Pages - -------------------------------------------------------------------------------- B. ICP Management V, LLC ("ICP Management 5") (a) Amount Beneficially Owned: 4,260 (b) Percent of Class: 0.04% (c) Number of shares as to which such person has: 1. Sole power to vote or to direct vote: -0- 2. Shared power to vote or to direct vote: 4,260 3. Sole power to dispose or to direct the disposition: -0- 4. Shared power to dispose or to direct the disposition: 4,260 C. Integral Capital Management VI, LLC ("ICM6") (a) Amount Beneficially Owned: 334,580 (b) Percent of Class: 3.24% (c) Number of shares as to which such person has: 1. Sole power to vote or to direct vote: -0- 2. Shared power to vote or to direct vote: 334,580 3. Sole power to dispose or to direct the disposition: -0- 4. Shared power to dispose or to direct the disposition: 334,580 D. Integral Capital Partners V, L.P. ("ICP5") (a) Amount Beneficially Owned: 263,260 (b) Percent of Class: 2.55% (c) Number of shares as to which such person has: 1. Sole power to vote or to direct vote: -0- 2. Shared power to vote or to direct vote: 263,260 3. Sole power to dispose or to direct the disposition: -0- 4. Shared power to dispose or to direct the disposition: 263,260 E. Integral Capital Partners V Side Fund, L.P. ("Side Fund") (a) Amount Beneficially Owned: 3,450 (b) Percent of Class: 0.03% (c) Number of shares as to which such person has: 1. Sole power to vote or to direct vote: -0- 2. Shared power to vote or to direct vote: 3,450 3. Sole power to dispose or to direct the disposition: -0- 4. Shared power to dispose or to direct the disposition: 3,450 CUSIP No. 586002107 Page 12 of 19 Pages - -------------------------------------------------------------------------------- F. Integral Capital Partners V SLP Side Fund, LLC ("SLP Side Fund") (a) Amount Beneficially Owned: 810 (b) Percent of Class: 0.01% (c) Number of shares as to which such person has: 1. Sole power to vote or to direct vote: -0- 2. Shared power to vote or to direct vote: 810 3. Sole power to dispose or to direct the disposition: -0- 4. Shared power to dispose or to direct the disposition: 810 G. Integral Capital Partners VI, L.P. ("ICP6") (a) Amount Beneficially Owned: 334,580 (b) Percent of Class: 3.24% (c) Number of shares as to which such person has: 1. Sole power to vote or to direct vote: -0- 2. Shared power to vote or to direct vote: 334,580 3. Sole power to dispose or to direct the disposition: -0- 4. Shared power to dispose or to direct the disposition: 334,580 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 |_|. ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. Not applicable. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY. Not applicable. CUSIP No. 586002107 Page 13 of 19 Pages - -------------------------------------------------------------------------------- ITEM 8. IDENTIFICATION AND CLASSIFCATION OF MEMBERS OF THE GROUP. Not applicable. ITEM 9. NOTICE OF DISSOLUTION OF GROUP. Not applicable. ITEM 10. CERTIFICATION. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. 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. Dated: February 27, 2004 INTEGRAL CAPITAL MANAGEMENT V, LLC By /s/ Pamela K. Hagenah ---------------------------------------------- Pamela K. Hagenah a Manager ICP MANAGEMENT V, LLC By /s/ Pamela K. Hagenah ---------------------------------------------- Pamela K. Hagenah a Manager CUSIP No. 586002107 Page 14 of 19 Pages - -------------------------------------------------------------------------------- INTEGRAL CAPITAL MANAGEMENT VI, LLC By /s/ Pamela K. Hagenah ---------------------------------------------- Pamela K. Hagenah a Manager INTEGRAL CAPITAL PARTNERS V, L.P. By Integral Capital Management V, LLC, its General Partner By /s/ Pamela K. Hagenah ---------------------------------------------- Pamela K. Hagenah a Manager INTEGRAL CAPITAL PARTNERS V SIDE FUND, L.P. By ICP Management V, LLC its General Partner By /s/ Pamela K. Hagenah ---------------------------------------------- Pamela K. Hagenah a Manager INTEGRAL CAPITAL PARTNERS V SLP SIDE FUND, LLC By ICP Management V, LLC, its Manager By /s/ Pamela K. Hagenah ---------------------------------------------- Pamela K. Hagenah a Manager CUSIP No. 586002107 Page 15 of 19 Pages - -------------------------------------------------------------------------------- INTEGRAL CAPITAL PARTNERS VI, L.P. By Integral Capital Management VI, LLC its General Partner By /s/ Pamela K. Hagenah ---------------------------------------------- Pamela K. Hagenah a Manager CUSIP No. 586002107 Page 16 of 19 Pages - -------------------------------------------------------------------------------- EXHIBIT INDEX Found on Sequentially Exhibit Numbered Page Exhibit A: Agreement of Joint Filing 17 CUSIP No. 586002107 Page 17 of 19 Pages - -------------------------------------------------------------------------------- EXHIBIT A Agreement of Joint Filing The undersigned hereby agree that they are filing jointly pursuant to Rule 13d-1(k)(1) of the Act the statement dated February 27, 2004 containing the information required by Schedule 13G, for the 602,100 Shares of capital stock of Memberworks Incorporated held by Integral Capital Partners V, L.P., a Delaware limited partnership, Integral Capital Partners V Side Fund, L.P., a Delaware limited partnership, Integral Capital Partners V SLP Side Fund, LLC, a Delaware limited liability company, and Integral Capital Partners VI, L.P., a Delaware limited partnership. Date: February 27, 2004 INTEGRAL CAPITAL MANAGEMENT V, LLC By /s/ Pamela K. Hagenah ---------------------------------------------- Pamela K. Hagenah a Manager ICP MANAGEMENT V, LLC By /s/ Pamela K. Hagenah ---------------------------------------------- Pamela K. Hagenah a Manager INTEGRAL CAPITAL MANAGEMENT VI, LLC By /s/ Pamela K. Hagenah ---------------------------------------------- Pamela K. Hagenah a Manager CUSIP No. 586002107 Page 18 of 19 Pages - -------------------------------------------------------------------------------- INTEGRAL CAPITAL PARTNERS V, L.P. By Integral Capital Management V, LLC, its General Partner By /s/ Pamela K. Hagenah ---------------------------------------------- Pamela K. Hagenah a Manager INTEGRAL CAPITAL PARTNERS V SIDE FUND, L.P. By ICP Management V, LLC its General Partner By /s/ Pamela K. Hagenah ---------------------------------------------- Pamela K. Hagenah a Manager INTEGRAL CAPITAL PARTNERS V SLP SIDE FUND, LLC By ICP Management V, LLC, its Manager By /s/ Pamela K. Hagenah ---------------------------------------------- Pamela K. Hagenah a Manager CUSIP No. 586002107 Page 19 of 19 Pages - -------------------------------------------------------------------------------- INTEGRAL CAPITAL PARTNERS VI, L.P. By Integral Capital Management VI, LLC its General Partner By /s/ Pamela K. Hagenah ---------------------------------------------- Pamela K. Hagenah a Manager -----END PRIVACY-ENHANCED MESSAGE-----