FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 12/14/2006 |
3. Issuer Name and Ticker or Trading Symbol
Isilon Systems, Inc. [ ISLN ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Beneficially Owned | |||
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1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock | 2,887,499 | D |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Employee Stock Option (Right to Buy) | (1) | 03/10/2015 | Common Stock | 43,750 | $0.22 | D | |
Employee Stock Option (Right to Buy) | (2) | 02/13/2016 | Common Stock | 79,166 | $0.82 | D | |
Employee Stock Option (Right to Buy) | (3) | 03/30/2016 | Common Stock | 66,666 | $0.82 | D | |
Series A Preferred Stock | (4) | (4) | Common Stock | 124,190(5) | (4) | D | |
Series B Preferred Stock | (6) | (6) | Common Stock | 9,137(5) | (6) | D | |
Series C Preferred Stock | (7) | (7) | Common Stock | 3,472(5) | (7) | D | |
Series D Preferred Stock | (8) | (8) | Common Stock | 866(5) | (8) | D |
Explanation of Responses: |
1. On March 10, 2005, Mr. Patel was granted an option to purchase 87,499 shares of Common Stock, of which 43,749 shares have been exercised. The option is exercisable at the rate of 1/4th of the shares on November 15, 2005 and 1/36th of the remaining shares on each monthly anniversary thereafter. |
2. The option is exercisable at the rate of 1/4th of the shares on January 1, 2007 and 1/36th of the remaining shares on each monthly anniversary thereafter. |
3. The option is exercisable at the rate of 1/4th of the shares on March 10, 2007 and 1/36th of the remaining shares on each monthly anniversary thereafter. |
4. The Series A Preferred Stock has no expiration date and will convert to shares of Common Stock of the Issuer upon the closing of the Issuer's initial public offering on a 1-for-1 basis. |
5. Reflects a 1-for-2.4 reverse stock split effected immediately prior to the filing date. These shares of Preferred Stock will automatically convert into shares of Common Upon upon the closing of the Issuer's initial public offering on a 1-for-1 basis. |
6. The Series B Preferred Stock has no expiration date and will convert to shares of Common Stock of the Issuer upon the closing of the Issuer's initial public offering on a 1-for-1 basis. |
7. The Series C Preferred Stock has no expiration date and will convert to shares of Common Stock of the Issuer upon the closing of the Issuer's initial public offering on a 1-for-1 basis. |
8. The Series D Preferred Stock has no expiration date and will convert to shares of Common Stock of the Issuer upon the closing of the Issuer's initial public offering on a 1-for-1 basis. |
Remarks: |
/s/ Douglas Choi, attorney-in-fact | 12/13/2006 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |