-----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, ARShoh6mDtN56dXmOPE9RWGU0K/lLcfHHr+qj5cJ/95USGeQQk3+tPSTKM8pL1VS lqPCulZL7cxkf9aWGdoYsQ== 0000891554-99-001934.txt : 19991018 0000891554-99-001934.hdr.sgml : 19991018 ACCESSION NUMBER: 0000891554-99-001934 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19991013 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: KEYNOTE SYSTEMS INC CENTRAL INDEX KEY: 0001032761 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 943226488 STATE OF INCORPORATION: CA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-56991 FILM NUMBER: 99727836 BUSINESS ADDRESS: STREET 1: 2855 CAMPUS DRIVE CITY: SAN MATEO STATE: CA ZIP: 94403 MAIL ADDRESS: STREET 1: 2855 CAMPUS DRIVE CITY: SAN MATEO STATE: CA ZIP: 94403 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: APPLEWOOD ASSOCIATES L P CENTRAL INDEX KEY: 0000885787 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 68 WHEATLEY RD CITY: BROOKVILLE STATE: NY ZIP: 11545 BUSINESS PHONE: 2127358600 SC 13G 1 SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No.____________)* Keynote Systems, Inc. (Name of Issuer) Common Stock, $0.001 par value (Title of Class of Securities) 493308100 (CUSIP Number) September 24, 1999 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 the disclosures provided in a prior cover page. The information required in 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). Page 1 of 22 CUSIP No. 493308100 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Wheatley Partners II L.P. (formerly, Applewood Associates, L.P.) - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 1,773,823 shares 7.8% BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER EACH 0 shares 0% REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER WITH 1,773,823 shares 7.8% -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 0 Shares 0% - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,773,823 shares - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.8% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN - -------------------------------------------------------------------------------- Page 2 of 22 CUSIP No. 493308100 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Applewood Capital Corp. - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 shares 0% BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER EACH 1,773,823 shares 7.8% REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER WITH 0 shares 0% -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 1,773,823 shares 7.8% - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,773,823 shares - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.8% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO - -------------------------------------------------------------------------------- Page 3 of 22 CUSIP No. 493308100 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Barry Rubenstein - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 shares 0% BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER EACH 2,286,216 shares 10.0% REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER WITH 0 shares 0% -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 2,286,216 shares 10.0% - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,286,216 shares - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10.0% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- Page 4 of 22 CUSIP No. 493308100 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Irwin Lieber - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 512,393 shares 2.2% BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER EACH 1,773,823 shares 7.8% REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER WITH 512,393 shares 2.2% -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 1,773,823 shares 7.8% - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,286,216 shares - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10.0% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- Page 5 of 22 CUSIP No. 493308100 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Barry Fingerhut - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 22,624 shares 0.1% BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER EACH 1,773,823 shares 7.8% REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER WITH 22,624 shares 0.1% -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 1,773,823 shares 7.8% - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,796,447 shares - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- Page 6 of 22 CUSIP No. 493308100 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Seth Lieber - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 shares 0% BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER EACH 1,773,823 shares 7.8% REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER WITH 0 shares 0% -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 1,773,823 shares 7.8% - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,773,823 shares - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.8% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- Page 7 of 22 CUSIP No. 493308100 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Jonathan Lieber - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 shares 0% BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER EACH 1,773,823 shares 7.8% REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER WITH 0 shares 0% -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 1,773,823 shares 7.8% - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,773,823 shares - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.8% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- Page 8 of 22 CUSIP No. 493308100 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Woodland Partners - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 362,393 shares 1.6% BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER EACH 150,000 shares 0.7% REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER WITH 362,393 shares 1.6% -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 150,000 shares 0.7% - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 512,393 shares - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.2% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN - -------------------------------------------------------------------------------- Page 9 of 22 CUSIP No. 493308100 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Brookwood Partners, L.P. - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 150,000 shares 0.7% BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER EACH 362,393 shares 1.6% REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER WITH 150,000 shares 0.7% -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 362,393 shares 1.6% - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 512,393 shares - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.2% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN - -------------------------------------------------------------------------------- Page 10 of 22 CUSIP No. 493308100 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Marilyn Rubenstein - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 shares 0% BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER EACH 512,393 shares 2.2% REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER WITH 0 shares 0% -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 512,393 shares 2.2% - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 512,393 shares - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.2% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- Page 11 of 22 Item 1. (a) Keynote Systems, Inc. (b) Address of Issuer's Principal Executive Offices 2855 Campus Drive San Mateo, California 94403 All references to shares of common stock reflect a 1 for 2 reverse stock split of the common stock which was effected immediately prior to the initial public offering by the Issuer. Item 2. 1. (a) Name of Person Filing: Wheatley Partners II, L.P. (formerly, Applewood Associates, L.P.) (b) Address of Principal Business Office, or, if none, Residence: 80 Cuttermill Road Great Neck, New York 11021 (c) Citizenship: Not applicable. (d) Title of Class of Securities: Common Stock, $0.001 par value per share. (e) CUSIP Number: 493308100 2. (a) Name of Person Filing: Applewood Capital Corp. (b) Address of Principal Business Office, or, if none, Residence: 68 Wheatley Road Brookville, New York 11545 (c) Citizenship: Not applicable. (d) Title of Class of Securities: Common Stock, $0.001 par value per share. (e) CUSIP Number: 493308100 3. (a) Name of Person Filing: Barry Rubenstein (b) Address of Principal Business Office, or, if none, Residence: 68 Wheatley Road Brookville, New York 11545 (c) Citizenship: United States. (d) Title of Class of Securities: Common Stock, $0.001 par value per share. (e) CUSIP Number: 493308100 Page 12 of 22 4. (a) Name of Person Filing: Irwin Lieber (b) Address of Principal Business Office, or, if none, Residence: 767 Fifth Avenue New York, New York 10153 (c) Citizenship: United States. (d) Title of Class of Securities: Common Stock, $0.001 par value per share. (e) CUSIP Number: 493308100 5. (a) Name of Person Filing: Barry Fingerhut (b) Address of Principal Business Office, or, if none, Residence: 767 Fifth Avenue New York, New York 10153 (c) Citizenship: United States. (d) Title of Class of Securities: Common Stock, $0.001 par value per share. (e) CUSIP Number: 493308100 6. (a) Name of Person Filing: Seth Lieber (b) Address of Principal Business Office, or, if none, Residence: 767 Fifth Avenue New York, New York 10153 (c) Citizenship: United States. (d) Title of Class of Securities: Common Stock, $0.001 par value per share. (e) CUSIP Number: 493308100 7. (a) Name of Person Filing: Jonathan Lieber (b) Address of Principal Business Office, or, if none, Residence: 767 Fifth Avenue New York, New York 10153 (c) Citizenship: United States. (d) Title of Class of Securities: Common Stock, $0.001 par value per share. (e) CUSIP Number: 493308100 8. (a) Name of Person Filing: Woodland Partners (b) Address of Principal Business Office, or, if none, Residence: 68 Wheatley Road Brookville, New York 11545 (c) Citizenship: Not applicable. (d) Title of Class of Securities: Common Stock, $0.001 par value per share (e) CUSIP Number: 493308100 Page 13 of 22 9. (a) Name of Person Filing: Brookwood Partners, L.P. (b) Address of Principal Business Office, or, if none, Residence: 68 Wheatley Road Brookville, New York 11545 (c) Citizenship: Not applicable. (d) Title of Class of Securities: Common Stock, $0.001 par value per share (e) CUSIP Number: 493308100 10. (a) Name of Person Filing: Marilyn Rubenstein (b) Address of Principal Business Office, or, if none, Residence: 68 Wheatley Road Brookville, New York 11545 (c) Citizenship: United States. (d) Title of Class of Securities: Common Stock, $0.001 par value per share (e) CUSIP Number: 493308100 Item 3. If this statement is filed pursuant to ss.240.13d-1(b) or 240.13d-2(b) or (c), check whether the person is a: (a) |_| Broker or dealer registered under section 15 of the Act (15 U.S.C.78o) (b) |_| Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) |_| Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) |_| Investment company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (e) |_| An investment adviser in accordance with (pounds sterling)240.13d-1(b)(1)(ii)(E); (f) |_| An employee benefit plan or endowment fund in accordance with (pounds sterling)240.13d-1(b)(1)(ii)(F); (g) |_| A parent holding company or control person in accordance with (pounds sterling)240.13d-1(b)(1)(ii)(G); (h) |_| A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) |_| A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) |_| Group, in accordance with ss.240.13d-1(b)(1)(ii)(J). Page 14 of 22 Item 4. Ownership. 1. Wheatley Partners II, L.P. ("Wheatley II"): (a) Amount Beneficially Owned: 1,773,823(1,2) shares. (b) Percent of Class: 7.8% (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 1,773,823(1,2) shares. (ii) shared power to vote or direct the vote: 0 shares. (iii)sole power to dispose or direct the disposition of: 1,773,823(1,2) shares. (iv) shared power to dispose or direct the disposition of: 0 shares. 2. Applewood Capital Corp.: (a) Amount Beneficially Owned: 1,773,823(1,2) shares. Reporting person is a general partner of Wheatley II. (b) Percent of Class: 7.8% (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 0 shares. (ii) shared power to vote or direct the vote: 1,773,823(1,2) shares. (iii)sole power to dispose or direct the disposition of: 0 shares. (iv) shared power to dispose or direct the disposition of: 1,773,823(1,2) shares. 3. Barry Rubenstein: (a) Amount Beneficially Owned: 2,286,216(1,2,3,4) shares. Reporting person is a general partner of Wheatley II, an officer and a director of Applewood Capital Corp., and a general partner of Woodland Partners and Brookwood Partners, L.P. Mr. Rubenstein is the husband of Marilyn Rubenstein. (b) Percent of Class: 10.0% (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 0 shares. (ii) shared power to vote or direct the vote: 2,286,216(1,2,3,4) shares. (iii)sole power to dispose or direct the disposition of: 0 shares. (iv) shared power to dispose or direct the disposition of: 2,286,216(1,2,3,4) shares. - -------- (1) Includes 1,773,823 shares of Common Stock owned by Wheatley Partners II, L.P. received upon the automatic conversion of Series A, Series B and Series C Preferred Stock and upon the exercise of Convertible Common Stock Warrants. (2) The reporting person disclaims beneficial ownership of these securities except to the extent of his/her/its equity interest therein. (3) Includes 362,393 shares of Common Stock owned by Woodland Partners received upon the automatic conversion of Series A, Series B and Series D Preferred Stock and the exercise of Convertible Common Stock Warrants. (4) Includes 150,000 shares of Common Stock owned by Brookwood Partners, L.P. received upon the automatic conversion of Series A Preferred Stock. Page 15 of 22 4. Irwin Lieber: (a) Amount Beneficially Owned: 2,286,216(1,2,5) shares. Reporting person is a general partner of Wheatley II, and an officer and a director of Applewood Capital Corp. Irwin Lieber is the father of Seth Lieber and Jonathan Lieber. (b) Percent of Class: 10.0% (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 512,393(5) shares. (ii) shared power to vote or direct the vote: 1,773,823(1,2) shares. (iii)sole power to dispose or direct the disposition of: 512,393(5) shares. (iv) shared power to dispose or direct the disposition of:1,773,823(1,2) shares. 5. Barry Fingerhut: (a) Amount Beneficially Owned: 1,796,447(1,2,6) shares. Reporting person is a general partner of Wheatley II, and an officer and a director of Applewood Capital Corp. (b) Percent of Class: 7.9% (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 22,624(6) shares. (ii) shared power to vote or direct the vote: 1,773,823(1,2) shares. (iii)sole power to dispose or direct the disposition of: 22,624 (6) shares. (iv) shared power to dispose or direct the disposition of: 1,773,823(1,2) shares. 6. Seth Lieber: (a) Amount Beneficially Owned: 1,773,823(1,2) shares. Reporting person is a general partner of Wheatley II, and an officer of Applewood Capital Corp. Seth Lieber is the son of Irwin Lieber and the brother of Jonathan Lieber. (b) Percent of Class: 7.8% (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 0 shares. (ii) shared power to vote or direct the vote: 1,773,823(1,2) shares. (iii)sole power to dispose or direct the disposition of: 0 shares. (iv) shared power to dispose or direct the disposition of: 1,773,823(1,2) shares. - -------- (5) Includes 512,393 shares of Common Stock owned by Irwin Lieber received upon the automatic conversion of Series A, Series B and Series D Preferred Stock and the exercise of Convertible Common Stock Warrants. (6) Includes 22,624 shares of Common Stock owned by Barry Fingerhut received upon the automatic conversion of Series D Preferred Stock. Page 16 of 22 7. Jonathan Lieber: (a) Amount Beneficially Owned: 1,773,823(1,2) shares. Reporting person is a general partner of Wheatley II, and an officer of Applewood Capital Corp. Jonathan Lieber is the son of Irwin Lieber and the brother of Seth Lieber. (b) Percent of Class: 7.8% (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 0 shares. (ii) shared power to vote or direct the vote: 1,773,823(1,2) shares. (iii)sole power to dispose or direct the disposition of: 0 shares. (iv) shared power to dispose or direct the disposition of: 1,773,823(1,2) shares. 8. Woodland Partners: (a) Amount Beneficially Owned: 512,393(2,3,4) shares. (b) Percent of Class: 2.2% (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 362,393(3) shares. (ii) shared power to vote or direct the vote: 150,000(2,4) shares. (iii)sole power to dispose or direct the disposition of: 362,393(3) shares. (iv) shared power to dispose or direct the disposition of: 150,000(2,4) shares. 9. Brookwood Partners, L.P. ("Brookwood"): (a) Amount Beneficially Owned: 512,393(2,3,4) shares. (b) Percent of Class: 2.2% (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 150,000(4) shares. (ii) shared power to vote or direct the vote: 362,393(2,3) shares. (iii)sole power to dispose or direct the disposition of: 150,000(4) shares. (iv) shared power to dispose or direct the disposition of: 362,393(2,3) shares. 10. Marilyn Rubenstein: (a) Amount Beneficially Owned: 512,393(2,3,4) Reporting person is a general partner of Woodland Partners and Brookwood. Marilyn Rubenstein is the wife of Barry Rubenstein. (b) Percent of Class: 2.2% (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 0 shares. (ii) shared power to vote or direct the vote: 512,393(2,3,4) shares. (iii)sole power to dispose or direct the disposition of: 0 shares. (iv) shared power to dispose or direct the disposition of: 512,393(2,3,4) shares. 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. Page 17 of 22 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. Item 8. Identification and Classification of Members of the Group. See Exhibit A for Joint Filing Agreement. Item 9. Notice of Dissolution of Group. Not Applicable. Item 10. Certification. (b) The following certification shall be included if the statement is filed pursuant to ss. 240.13d-1(c): By signing below each party certifies that, to the best of his/her/its 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. Page 18 of 22 SIGNATURE After reasonable inquiry and to the best of their knowledge and belief, each of the undersigned hereby certifies that the information set forth in this statement is true, complete and correct. Date: October 13, 1999 WHEATLEY PARTNERS II, L.P. By: /s/Barry Rubenstein ----------------------------------------- Barry Rubenstein, a General Partner APPLEWOOD CAPITAL CORP. By: /s/Irwin Lieber ----------------------------------------- Irwin Lieber, Secretary and Treasurer /s/Barry Fingerhut ----------------------------------------- Barry Fingerhut /s/Barry Rubenstein ----------------------------------------- Barry Rubenstein /s/Irwin Lieber ----------------------------------------- Irwin Lieber /s/Seth Lieber ----------------------------------------- Seth Lieber /s/Jonathan Lieber ----------------------------------------- Jonathan Lieber WOODLAND PARTNERS By: /s/Barry Rubenstein ----------------------------------------- Barry Rubenstein, a General Partner Page 19 of 22 BROOKWOOD PARTNERS, L.P. By: /s/Barry Rubenstein ----------------------------------------- Barry Rubenstein, a General Partner /s/Marilyn Rubenstein ----------------------------------------- Marilyn Rubenstein Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001) Page 20 of 22 Exhibit A JOINT FILING AGREEMENT In accordance with Rule 13d-1 under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to the Common Stock, $0.001 par value per share, of Keynote Systems, Inc. and that this Agreement be included as an Exhibit to such joint filing. IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of the 23rd day of September, 1999. WHEATLEY PARTNERS II, L.P. By: /s/Barry Rubenstein ----------------------------------------- Barry Rubenstein, a General Partner APPLEWOOD CAPITAL CORP. By: /s/Irwin Lieber ----------------------------------------- Irwin Lieber, Secretary and Treasurer /s/Barry Fingerhut ----------------------------------------- Barry Fingerhut /s/Barry Rubenstein ----------------------------------------- Barry Rubenstein /s/Irwin Lieber ----------------------------------------- Irwin Lieber /s/Seth Lieber ----------------------------------------- Seth Lieber /s/Jonathan Lieber ----------------------------------------- Jonathan Lieber WOODLAND PARTNERS By: /s/Barry Rubenstein ----------------------------------------- Barry Rubenstein, a General Partner Page 21 of 22 BROOKWOOD PARTNERS, L.P. By: /s/Barry Rubenstein ----------------------------------------- Barry Rubenstein, a General Partner /s/Marilyn Rubenstein ----------------------------------------- Marilyn Rubenstein Page 22 of 22 -----END PRIVACY-ENHANCED MESSAGE-----