-----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, Dy2ge8nh00Lz8wZQy8NqQnbA31h7wBcGRUULy/nnRfzM7kCHSgk6lOibIMUOvCSR QoizWQhBPM/i6dUctvHOjA== 0000884306-99-000144.txt : 19991231 0000884306-99-000144.hdr.sgml : 19991231 ACCESSION NUMBER: 0000884306-99-000144 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19991230 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LARSCOM INC CENTRAL INDEX KEY: 0001024047 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATIONS EQUIPMENT, NEC [3669] IRS NUMBER: 942362692 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-47819 FILM NUMBER: 99784159 BUSINESS ADDRESS: STREET 1: 1845 MCCANDLESS DR CITY: MILPITAS STATE: CA ZIP: 95035 BUSINESS PHONE: 4089886600 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KOPP INVESTMENT ADVISORS INC CENTRAL INDEX KEY: 0000884306 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 411663810 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 7701 FRANCE AVENUE SOUTH STREET 2: STE 500 CITY: EDINA STATE: MN ZIP: 55435 BUSINESS PHONE: 6128410400 MAIL ADDRESS: STREET 1: 7701 FRANCE AVENUE SOUTH STREET 2: STE 500 CITY: EDINA STATE: MN ZIP: 55435 SC 13D/A 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 3 )* Larscom Incorporated (Name of Issuer) Common Stock (Title of Class of Securities) 51729Y108 (CUSIP Number) Kathleen S. Tillotson, Esq., Kopp Investment Advisors, 7701 France Ave. So., Suite 500 Edina, MN 55435 (612) 841-0400 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) 12/29/99 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d- 1(b)(3) or (4), check the following box [ ]. Check the following box if a fee is being paid with the statement [ ]. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class. (See Rule 13d-7.)) 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). SCHEDULE 13D CUSIP No. 51729Y108 Page 1 of 3 l) Name of Reporting Person S.S. or I.R.S. Identification No. of Person Kopp Investment Advisors, Inc. I.D. No. 41-1663810 2) Check the appropriate box if a Member of a Group (a) (b) 3) SEC Use Only 4) Source of Funds OO: Client Funds; WC 5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] 6) Citizenship or Place of Organization Minnesota Number of shares 7) Sole Voting Power: 490,000 Beneficially Owned by Each Reporting Person With: 8) Shared Voting Power: 0 9) Sole Dispositive Power: 370,000 10) Shared Dispositive Power: 938,450 11) Aggregate Amount Beneficially Owned by Each Reporting Person 1,308,450 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* [ ] 13) Percent of Class Represented by Amount in Row (11) 15.6% 14) Type of Reporting Person IA SCHEDULE 13D CUSIP No 51729Y108 Page 2 of 3 l) Name of Reporting Person S.S. or I.R.S. Identification No. of Person Kopp Holding Company I.D. No. 41-1875362 2) Check the appropriate box if a Member of a Group (a) (b) 3) SEC Use Only 4) Source of Funds Not applicable - indirect beneficial ownership 5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] 6) Citizenship or Place of Organization Minnesota Number of shares 7) Sole Voting Power: 0 Beneficially Owned by Each Reporting Person With: 8) Shared Voting Power: 0 9) Sole Dispositive Power: 0 10) Shared Dispositive Power: 0 11) Aggregate Amount Beneficially Owned by Each Reporting Person 1,308,450 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* [ ] 13) Percent of Class Represented by Amount in Row (11) 15.6% 14) Type of Reporting Person HC SCHEDULE 13D CUSIP No. 51729Y108 Page 3 of 3 l) Name of Reporting Person S.S. or I.R.S. Identification No. of Person LeRoy C. Kopp 2) Check the appropriate box if a Member of a Group (a) (b) 3) SEC Use Only 4) Source of Funds PF, OO 5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] 6) Citizenship or Place of Organization United States Number of shares 7) Sole Voting Power: 671,500 Beneficially Owned by Each Reporting Person With: 8) Shared Voting Power: 0 9) Sole Dispositive Power: 671,500 10) Shared Dispositive Power: 0 11) Aggregate Amount Beneficially Owned by Each Reporting Person 1,979,950 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* [ ] 13) Percent of Class Represented by Amount in Row (11) 23.7% 14) Type of Reporting Person IN Item 1. Security and Issuer This statement relates to the Class A common stock ("Common Stock") of Larscom Incorporated, a Delaware corporation ("Company"), whose principal executive offices are located at 1845 McCandless Drive, Milpitas, California 95035. The approximate aggregate percentage of shares of Common Stock reported beneficially owned by each person herein is based on 8,366,000 shares outstanding, which is the total number of shares of Class A Common Stock outstanding as of October 31, 1999, as reflected in the Company's quarterly report on Form 10-Q filed with the Securities and Exchange Commission ("Commission") for the fiscal quarter ended September 30, 1999. Unless otherwise indicated, the holdings reported herein are as of the close of business on December 29, 1999. Item 2. Identity and Background (a) This statement is filed by Kopp Investment Advisors, Inc. ("KIA"), with respect to shares of Common Stock beneficially owned directly by it and held in discretionary accounts managed by KIA; Kopp Holding Company ("KHC"), solely as the parent corporation of KIA and indirect beneficial owner of the shares beneficially owned by KIA; and LeRoy C. Kopp individually with respect to shares of Common Stock beneficially owned directly by him and indirectly by him by virtue of his ownership of all of the stock of KHC. The foregoing persons are sometimes referred to as "Reporting Persons." Certain information concerning the directors and executive officers of the corporate Reporting Persons is set forth on Schedule A attached hereto and incorporated herein by reference. Any disclosures with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. (b) The business address of each of the Reporting Persons and directors and executive officers is 7701 France Avenue South, Suite 500, Edina, MN 55435. ( c) The principal business of KIA is that of an investment advisor managing discretionary accounts owned by numerous third-party clients, including the Kopp Emerging Growth Fund, a registered investment company incorporated under Minnesota law. KHC is a holding company engaged, through subsidiaries, in the investment industry. The principal occupation of Mr. Kopp is serving as the president of KHC and KIA. (d) None of the persons referred to in paragraph (a) above has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations and/or similar misdemeanors). (e) None of the persons referred to in paragraph (a) above has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) KIA and KHC are Minnesota corporations. Mr. Kopp and all other directors and executive officers of the Reporting Persons are citizens of the United States. Item 3. Source and Amount of Funds or Other Consideration The net investment cost (including commissions, if any) of the shares of Common Stock directly or indirectly beneficially owned by Mr. Kopp, which includes shares beneficially owned by the other Reporting Persons, at December 29, 1999, was $9,304,095.08. The shares beneficially owned by KIA were purchased with the investment capital of KIA or the investment capital of the owners of the discretionary accounts. The shares beneficially owned directly by Mr. Kopp were purchased with his investment capital or the funds of an employee benefit plan or 501(c)(3) corporation. See Item 5 below. Item 4. Purpose of Transaction The Reporting Persons acquired the shares of Common Stock for investment purposes, and the Reporting Persons intend to evaluate the performance of such securities as an investment in the ordinary course of business. The Reporting Persons pursue an investment objective of long term capital appreciation. In pursuing this investment objective, the Reporting Persons analyze the management, operations and markets of companies in which they invest, including the Company, on a continual basis through analysis of research and discussions with industry and market observers and with representatives of such companies. Each Reporting Person that owns shares of Common Stock assesses the Company's business, financial condition, and results of operations as well as economic conditions and securities markets in general and those for the Company's shares in particular. Depending on such assessments, one or more of such Reporting Persons may acquire additional shares or may sell or otherwise dispose of all or some of the shares of Common Stock. Such actions will depend on a variety of factors, including current and anticipated trading prices for the Common Stock, alternative investment opportunities, and general economic, financial market, and industry conditions. The Reporting Persons understand that prior purchases of shares of Common Stock, if any, by persons named in Schedule A to this statement were made for the purpose of each such person's personal investment. Except as described in this Item 4, none of the Reporting Persons nor any other person named in Schedule A has any plans or proposals that relate to, or would result in, any matter required to be disclosed in response to paragraphs (a) through (j), inclusive, of Item 4 of Schedule 13D. The shares of Common Stock were not acquired for the purpose, nor with the effect, of changing or influencing the control of the Company. Item 5. Interest in Securities of the Issuer (a) Through its own investment account, KIA is the direct owner of 130,000 shares, or approximately 1.6%, of the Common Stock. By virtue of limited powers of attorney and/or investment advisory agreements, KIA is the beneficial owner of 1,178,450 shares, or 14.1%, of the Common Stock. KIA has sole voting power over its investment account and, by special agreement, over a small percentage of the shares managed for clients. Under its standard investment agreement, KIA does not vote its clients' shares. By virtue of the relationships described in Item 2 of this statement, KHC and Mr. Kopp have indirect beneficial ownership of the shares beneficially owned by KIA. Mr. Kopp's direct beneficial ownership comprises Common Stock held in the KIA Profit Sharing Plan ("Plan"), for which he serves as sole trustee; held in the Kopp Family Foundation ("KFF"), for which he serves as director; held in the LeRoy C. Kopp Individual Retirement Account ("IRA"); and held directly by him. The Plan is the direct owner of 25,000 shares, or less than 1% of the Common Stock. KFF is the direct owner of 236,500 shares, or 2.8%, of the Common Stock. The IRA is the direct owner of 120,000 shares, or approximately 1%, of the Common Stock. Mr. Kopp owns directly 290,000 shares, or 3.5%. In the aggregate, including the shares beneficially owned by KIA, Mr. Kopp may be deemed beneficially to own a total of 1,979,950 shares, or 23.7%, of the Common Stock. (b) KIA has sole power to vote 490,000 shares of the Common Stock. Pursuant to the limited powers of attorney granted to KIA by its clients, which generally are terminable immediately upon notice, KIA in effect shares with the majority of its clients the power to dispose of the Common Stock owned by them. KIA has sole power to dispose of 370,000 shares. In effect Mr. Kopp has sole power to dispose of and to vote the Common Stock beneficially owned directly by him. ( c) The identity of the Reporting Person, type of transaction, date, number of shares, and price per share (excluding commission) for all transactions in the Common Stock by the Reporting Persons within the past 60 days are set forth on Schedule B attached hereto and incorporated by reference herein. Substantially all trades by the Reporting Persons are done in the over-the-counter market. (d) With the exception of the clients of KIA and the employees of KHC, no person other than each respective record owner of shares of Common Stock is known to have the right to receive or the power to direct the receipt of dividends from or the proceeds of the sale of such shares of Common Stock. (e) Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer Except as otherwise expressly disclosed herein, there are no contracts, arrangements, understandings, or relationships (legal or otherwise) among the persons named in Item 2 hereof or between such persons and any other person with respect to the Common Stock. The filing of this Schedule shall NOT be construed as an admission that a Reporting Person or any other person is a beneficial owner of any shares of Common Stock for any purpose, including for purposes of Sections 13, 14 or 16 of the Securities Exchange Act of 1934, as amended from time to time. Item 7. Material to Be Filed as Exhibits Exhibit 1 - A written agreement relating to the filing of this statement pursuant to Rule 13d-1(f). Signatures After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete, and correct. Dated: 12/30/99 KOPP INVESTMENT ADVISORS, INC. BY: TITLE: Secretary/Treasurer KOPP HOLDING COMPANY BY: TITLE: Secretary/Treasurer LEROY C. KOPP Exhibit 1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13D) on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the Common Stock (as defined) and to the attachment of this agreement to the Schedule 13D as Exhibit 1 thereto. IN WITNESS WHEREOF, the undersigned hereby execute this Agreement this 30th day of December 1999 . KOPP INVESTMENT ADVISORS, INC. BY: TITLE: President KOPP HOLDING COMPANY BY: TITLE: President LEROY C. KOPP Schedule A List of Directors, Executive Officers, and Control Persons LeRoy C. Kopp, individually, and as sole director and president of Kopp Investment Advisors, Inc. and Kopp Holding Company Donald B. Cornelius as chief financial officer of KIA and KHC Kopp Investment Advisors - Schedule B Daily Trade Report "October 29, 1999 thru December 29, 1999" Trade Reporting Date Person Activity Quantity Symbol Price 12-29-99 KIA BUY 10000 lars 7.25 12-29-99 KIA BUY 2100 lars 6.94 12-29-99 KIA BUY 200 lars 7.00 12-29-99 KIA BUY 500 lars 7.13 12-29-99 KIA BUY 300 lars 7.19 12-29-99 KIA BUY 1900 lars 7.25 12-27-99 KIA BUY 5000 lars 6.95 12-27-99 KIA BUY 10000 lars 6.95 12-27-99 KIA BUY 10000 lars 6.95 12-23-99 KIA BUY 5000 lars 5.89 12-23-99 KIA BUY 5000 lars 5.89 12-23-99 KIA BUY 5000 lars 5.89 12-23-99 KIA BUY 10000 lars 5.89 12-23-99 KIA BUY 10000 lars 5.89 12-21-99 KIA BUY 6000 lars 5.67 12-21-99 KIA BUY 4000 lars 5.67 12-21-99 KIA BUY 150 lars 5.88 12-21-99 KIA BUY 5000 lars 5.94 12-21-99 KIA BUY 500 lars 5.72 12-21-99 KIA BUY 1000 lars 5.72 12-21-99 KIA BUY 5000 lars 5.67 12-21-99 KIA BUY 2000 lars 5.67 12-20-99 KIA BUY 2600 lars 5.56 12-20-99 KIA BUY 400 lars 5.63 12-17-99 KIA BUY 200 lars 5.13 12-17-99 KIA BUY 1300 lars 5.13 12-17-99 KIA BUY 3000 lars 5.19 12-17-99 KIA BUY 5000 lars 5.19 12-17-99 KIA BUY 2000 lars 5.13 12-15-99 KIA BUY 2000 lars 4.56 12-15-99 KIA BUY 5000 lars 4.56 12-14-99 KIA BUY 5000 lars 4.81 12-10-99 KIA BUY 3000 lars 4.31 12-10-99 KIA BUY 300 lars 4.44 12-10-99 KIA BUY 1000 lars 4.63 12-10-99 KIA BUY 700 lars 4.50 12-10-99 KIA BUY 10000 lars 4.50 12-09-99 KIA BUY 10000 lars 4.19 12-09-99 KIA BUY 5000 lars 4.25 12-03-99 KIA BUY 4000 lars 4.78 12-03-99 KIA BUY 1000 lars 4.81 12-03-99 KIA BUY 2000 lars 4.88 12-03-99 KIA BUY 3000 lars 4.19 12-02-99 KIA BUY 15000 lars 4.75 12-01-99 KIA BUY 15000 lars 4.69 11-30-99 KIA BUY 2500 lars 4.19 11-30-99 KIA BUY 3000 lars 4.44 11-30-99 KIA BUY 3000 lars 4.44 11-30-99 KIA BUY 4000 lars 4.19 11-29-99 KIA BUY 4000 lars 4.00 11-29-99 KIA BUY 10000 lars 3.94 11-19-99 CTRL BUY 10000 lars 3.94 11-18-99 KIA BUY 2600 lars 4.00 11-18-99 KIA BUY 10000 lars 4.00 11-18-99 CTRL BUY 10000 lars 4.00 11-15-99 CTRL BUY 7500 lars 2.75 11-15-99 CTRL BUY 12500 lars 2.88 11-12-99 KIA BUY 900 lars 2.41 11-12-99 KIA BUY 1000 lars 2.41 11-12-99 KIA BUY 2000 lars 2.41 11-12-99 KIA BUY 1100 lars 2.41 11-12-99 CTRL BUY 10000 lars 2.50 11-09-99 KIA SELL 5000 lars 2.21 -----END PRIVACY-ENHANCED MESSAGE-----