SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* SEQUOIA CAPITAL VIII (Last) (First) (Middle) C/O SEQUOIA CAPITAL 3000 SAND HILL RD, BLDG 4-180 (Street) MENLO PARK CA 94025 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol IKANOS COMMUNICATIONS [ IKAN ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 09/27/2005
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/27/2005		C(1)		135,805	A	(2)	135,805	I	See footnote(3)
Common Stock	09/27/2005		C(4)		308,939	A	(2)	444,744	I	See footnote(5)
Common Stock	09/27/2005		C(6)		543,325	A	(2)	988,069	I	See footnote(7)
Common Stock	09/27/2005		C(8)		1,762,826	A	(2)	2,750,895	I	See footnote(9)
Common Stock	09/27/2005		C(10)		299,129	A	(2)	3,050,024	I	See footnote(11)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series A Preferred Stock	(2)	09/27/2005		C			135,805	(12)	(12)	Common Stock	135,805	$0	0	I	See footnote(3)
Series B Preferred Stock	(2)	09/27/2005		C			308,939	(12)	(12)	Common Stock	308,939	$0	0	I	See footnote(5)
Series C Preferred Stock	(2)	09/27/2005		C			543,325	(12)	(12)	Common Stock	543,325	$0	0	I	See footnote(7)
Series D Preferred Stock	(2)	09/27/2005		C			1,762,826	(12)	(12)	Common Stock	1,762,826	$0	0	I	See footnote(9)
Series E Preferred Stock	(2)	09/27/2005		C			299,129	(12)	(12)	Common Stock	299,129	$0	0	I	See footnote(11)

1. Name and Address of Reporting Person* SEQUOIA CAPITAL VIII (Last) (First) (Middle) C/O SEQUOIA CAPITAL 3000 SAND HILL RD, BLDG 4-180 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* SEQUOIA INTERNATIONAL TECHNOLOGY PARTNERS VIII LP (Last) (First) (Middle) C/O SEQUOIA CAPITAL 3000 SAND HILL RD, BLDG 4-180 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* SEQUOIA INTERNATIONAL TECHNOLOGY PARTNERS VIII-Q (Last) (First) (Middle) C/O SEQUOIA CAPITAL 3000 SAND HILL RD, BLDG 4-180 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* SEQUOIA CAPITAL FRANCHISE FUND LP (Last) (First) (Middle) C/O SEQUOIA CAPITAL 3000 SAND HILL RD, BLDG 4-180 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* SEQUOIA CAPITAL FRANCHISE PARTNERS LP (Last) (First) (Middle) C/O SEQUOIA CAPITAL 3000 SAND HILL RD, BLDG 4-180 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* SC VIII MANAGEMENT LLC (Last) (First) (Middle) C/O SEQUOIA CAPITAL 3000 SAND HILL RD, BLDG 4-180 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* SCFF MANAGEMENT LLC (Last) (First) (Middle) C/O SEQUOIA CAPITAL 3000 SAND HILL RD, BLDG 4-180 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* LEONE DOUGLAS M (Last) (First) (Middle) C/O SEQUOIA CAPITAL 3000 SAND HILL RD BLDG 4 #180 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* MORITZ MICHAEL J (Last) (First) (Middle) (Street) (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* STEVENS MARK A (Last) (First) (Middle) (Street) (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Represents shares of Common Stock issued upon conversion of Series A Preferred Stock.

2. Not applicable.

3. Includes 125,875 shares held by Sequoia Capital VIII ("Sequoia VIII"), 1,597 shares held by Sequoia International Technology Partners VIII ("Sequoia ITP VIII") and 8,333 shares held by Sequoia International Technology Partners VIII (Q) ("Sequoia ITPVIII (Q)"). Michael L. Goguen (who is a director of the Issuer and files separate Section 16(a) reports), Douglas M. Leone, Michael J. Moritz and Mark A. Stevens are managing members of SC VIII Management, LLC, the general partner of Sequoia VIII, Sequoia ITP VIII and Sequoia ITP VIII (Q). Each of the Filing Persons disclaims beneficial ownership of the shares except to the extent of his or its pecuniary interest therein.

4. Represents shares of Common Stock issued upon conversion of Series B Preferred Stock.

5. Includes 286,851 shares held by Sequoia VIII, 3,552 shares held by Sequoia ITP VIII and 18,536 shares held by Sequoia ITPVIII (Q). Each of the Filing Persons disclaims beneficial ownership of the shares except to the extent of his or its pecuniary interest therein.

6. Represents shares of Common Stock issued upon conversion of Series C Preferred Stock.

7. Includes 504,478 shares held by Sequoia VIII, 6,248 shares held by Sequoia ITP VIII and 32,599 shares held by Sequoia ITPVIII (Q). Each of the Filing Persons disclaims beneficial ownership of the shares except to the extent of his or its pecuniary interest therein.

8. Represents shares of Common Stock issued upon conversion of Series D Preferred Stock.

9. Includes 1,062,017 shares held by Sequoia VIII, 13,153 shares held by Sequoia ITP VIII, 68,627 shares held by Sequoia ITPVIII (Q), 544,746 shares held by Sequoia Capital Franchise Fund ("Sequoia FF") and 74,283 shares held by Sequoia Capital Franchise Partners ("Sequoia CFP"). Messrs. Goguen, Leone, Moritz and Stevens are managing members of SCFF Management, LLC, the general partner of Sequoia FF and Sequoia CFP. Each of the Filing Persons disclaims beneficial ownership of the shares except to the extent of his or its pecuniary interest therein.

10. Represents shares of Common Stock issued upon conversion of Series E Preferred Stock.

11. Includes 180,211 shares held by Sequoia VIII, 2,232 shares held by Sequoia ITP VIII, 11,645 shares held by Sequoia ITPVIII (Q), 92,436 shares held by Sequoia FF and 12,605 shares held by Sequoia CFP. Each of the Filing Persons disclaims beneficial ownership of the shares except to the extent of its pecuniary interest therein.

12. Each share is immediately convertible into one share of Common Stock and has no expiration date.

	/s/ Douglas M. Leone, Authorized Signer	09/29/2005
	** Signature of Reporting Person	Date
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