-----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, TmCjAD1Wvm7Ly1OdlJZF7yHIxdAzLET1jHs8qLcG0Bkxoi1tDADgqlE2TI59vbZ1 CXQiNHdGAGV7/1YZvcz+Wg== 0000935836-99-000017.txt : 19990115 0000935836-99-000017.hdr.sgml : 19990115 ACCESSION NUMBER: 0000935836-99-000017 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990114 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NETWORK EQUIPMENT TECHNOLOGIES INC CENTRAL INDEX KEY: 0000752431 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576] IRS NUMBER: 942904044 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: SEC FILE NUMBER: 005-39132 FILM NUMBER: 99506340 BUSINESS ADDRESS: STREET 1: 800 SAGINAW DR CITY: REDWOOD CITY STATE: CA ZIP: 94063 BUSINESS PHONE: 4153664400 MAIL ADDRESS: STREET 1: 800 SAGINAW DRIVE CITY: REDWOOD CITY STATE: CA ZIP: 94063 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KING R ELIOT & ASSOCIATES INC /ADV CENTRAL INDEX KEY: 0000831019 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 942203799 STATE OF INCORPORATION: CA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 3000 SAND HILL RD #2 245 CITY: MENLO PARK STATE: CA ZIP: 94025 BUSINESS PHONE: 6508542882 FORMER COMPANY: FORMER CONFORMED NAME: KING R ELIOT & ASSOCIATES INC /ADV DATE OF NAME CHANGE: 19980128 SC 13G/A 1 OMB APPROVAL OMB Number: 3235-0145 Expires: August 31, 1999 Estimated average burden hours per form 14.90 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1) Network Equipment Technologies, Inc. (Name of Issuer) Common Stock - --------------------------------------------------------------------------- (Title of Class of Securities) 641208103 (CUSIP Number) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: /XX/ Rule 13d-1(b) /___/ 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). Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1745 (3-98) Page 1 of 7 CUSIP No. 641208103 13G Page 2 of 7 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON R. Eliot King and Associates Incorporated - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)/ / (b)/ / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION California - --------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES -0- BENEFICIALLY -------------------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH 1,222,200 REPORTING -------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH -0- -------------------------------------------------- 8 SHARED DISPOSITIVE POWER 1,222,200 - --------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,222,200 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.7 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO and IA - --------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 641208103 13G Page 3 of 7 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON John K. Nelson - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)/ / (b)/ / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - --------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 12,425 BENEFICIALLY -------------------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH 1,222,200 REPORTING -------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH 12,425 -------------------------------------------------- 8 SHARED DISPOSITIVE POWER 1,222,200 - --------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,234,625 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.8 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - --------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 641208103 13G Page 4 of 7 Pages ITEM 1. (a) The name of the issuer is Network Equipment Technologies, Inc. ("NETI"). (b) The principal executive office of NETI is located at 800 Saginaw Drive, Redwood City, CA 94063. ITEM 2. (a) The persons filing this statement (the "Reporting Persons") and, where applicable, their respective places of organization, general partners, directors, executive officers and controlling persons, and the information regarding them, are as follows: R. Eliot King and Associates Incorporated ("REK") and John K. Nelson ("Nelson"). (b) The principal business office of REK and Nelson is located at 3000 Sand Hill Road, Building 2, Suite 245, Menlo Park, CA 94025. (c) REK is a California corporation. Nelson is a member of the Board of Directors and the President of REK. (d) This statement relates to shares of Common Stock of NETI (the "Stock"). (e) The CUSIP number of the Stock is 641208103. CUSIP No. 641208103 13G Page 5 of 7 Pages ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B), CHECK WHETHER THE PERSON FILING IS A: (a) / / Broker or Dealer registered under Section 15 of the Act. (b) / / Bank as defined in section 3(a)(6) of the Act. (c) / / Insurance Company as defined in section 3(a)(19) of the Act. (d) / / Investment Company registered under section 8 of the Investment Company Act. (e) /XX/ Investment Adviser registered under section 203 of the Investment Advisers Act of 1940. (f) / / Employee Benefit Plan, Pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund; see section 240.13d-1(b)(1)(ii)(F). (g) / / Parent Holding Company, in accordance with section 240.13d- 1(b)(1)(ii)(F) (h) / / Group, in accordance with section 240.13d-1(b)(1)(ii)(H) CUSIP No. 641208103 13G Page 6 of 7 Pages ITEM 4. OWNERSHIP. REK (a) REK beneficially owns 1,222,200 shares of the Stock. (b) REK beneficially owns 5.7 % of the Stock outstanding. (c) (i) REK has the sole power to vote or to direct the vote of -0- shares of the Stock. (ii) REK has the shared power to vote or to direct the vote of 1,222,200 shares of the Stock. (iii) REK has the sole power to dispose or to direct the disposition of -0- shares of the Stock. (iv) REK has the shared power to dispose or to direct the disposition of 1,222,200 shares of the Stock. Nelson (a) Nelson beneficially owns 1,234,625 shares of the Stock. (b) Nelson beneficially owns 5.8 % of the Stock outstanding. (c) (i) Nelson has the sole power to vote or to direct the vote of 12,425 shares of the Stock. (ii) Nelson has the shared power to vote or to direct the vote of 1,222,200 shares of the Stock. (iii) Nelson has the sole power to dispose or to direct the disposition of 12,425 shares of the Stock. (iv) Nelson has the shared power to dispose or to direct the disposition of 1,222,200 shares of the Stock. 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 / /. Instruction: Dissolution of a group requires a response to this item. ITEM. 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON R. Eliot King & Associates Incorporated is a registered investment adviser whose clients have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale, of the Stock. No individual client's holdings of the Stock are more than 5 percent of the class. CUSIP No. 641208103 13G Page 7 of 7 Pages ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY Not applicable. ITEM 8. IDENTIFICATION AND CLASSIFICATION 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 acquired and are held in the ordinary course of business and were not acquired for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having such purposes or effect. SIGNATURES After reasonable inquiry and to the best of my knowledge, I certify that the information set forth in this statement is true, complete and correct. DATED: January ___, 1999 R. ELIOT KING & ASSOCIATES INCORPORATED By: /s/ John K. Nelson John K. Nelson, President /s/ John K. Nelson John K. Nelson CJR\4180\002\1024656.01 -----END PRIVACY-ENHANCED MESSAGE-----