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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
------------
SCHEDULE 13G/A
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1 (b), (c) AND (d) AND AMENDMENTS THERETO
FILED PURSUANT TO 13d-2 (b)
(Amendment No. 3)*
PIXELWORKS, INC.
--------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK
--------------------------------------------------------------------------------
(Title of Class of Securities)
72581M107
--------------------------------------------------------------------------------
(CUSIP Number)
12/31/03
--------------------------------------------------------------------------------
(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)
| | Rule 13d-1(c)
|X| Rule 13d-1(d)
(Continued on following pages)
Page 1 of 13 Pages
CUSIP No. 72581M107 Page 2 of 13 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
SEQUOIA CAPITAL VII, A CALIFORNIA LIMITED PARTNERSHIP ("SC VII")
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
94-3240153
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,108,339
OWNED BY --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,108,339
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,108,339
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.5%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 72581M107 Page 3 of 13 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
SEQUOIA TECHNOLOGY PARTNERS VII,
A CALIFORNIA LIMITED PARTNERSHIP ("STP VII")
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
77-0428059
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 49,272
OWNED BY --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
49,272
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
49,272
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.1%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 72581M107 Page 4 of 13 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
SEQUOIA INTERNATIONAL PARTNERS, A CALIFORNIA LIMITED PARTNERSHIP ("SIP")
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
94-3260980
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 16,709
OWNED BY --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
16,709
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,709
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 72581M107 Page 5 of 13 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
SC VII MANAGEMENT-A, LLC ("SC VII-A")
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
94-3240154
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES 1,174,320 shares of which 1,108,339 shares are directly
BENEFICIALLY held by SC VII, 49,272 shares are directly held by STP
OWNED BY VII and 16,709 shares are directly held by SIP. SC VII-A
EACH is the General Partner of SC VII, STP VII and SIP.
REPORTING --------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,174,320 shares of which 1,108,339 shares are directly
held by SC VII, 49,272 shares are directly held by STP
VII and 16,709 shares are directly held by SIP. SC VII-A
is the General Partner of SC VII, STP VII and SIP.
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,174,320
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.6%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 72581M107 Page 6 of 13 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MICHAEL MORITZ
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
269,664
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES 1,174,320 shares of which 1,108,339 shares are directly
BENEFICIALLY held by SC VII, 49,272 shares are directly held by STP
OWNED BY VII and 16,709 shares are directly held by SIP. Mr.
EACH Moritz is a Managing Member of SC VII-A. Mr. Moritz
REPORTING disclaims beneficial ownership of all such shares except
PERSON to the extent of his individual pecuniary interest
WITH therein.
--------------------------------------------------------
7 SOLE DISPOSITIVE POWER
269,664
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,174,320 shares of which 1,108,339 shares are directly
held by SC VII, 49,272 shares are directly held by STP
VII and 16,709 shares are directly held by SIP. Mr.
Moritz is a Managing Member of SC VII-A. Mr. Moritz
disclaims beneficial ownership of all such shares except
to the extent of his individual pecuniary interest
therein.
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,443,984
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.2%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 72581M107 Page 7 of 13 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
DOUGLAS LEONE
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
172,453
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES 1,174,320 shares of which 1,108,339 shares are directly
BENEFICIALLY held by SC VII, 49,272 shares are directly held by STP
OWNED BY VII and 16,709 shares are directly held by SIP. Mr.
EACH Leone is a Managing Member of SC VII-A. Mr. Leone
REPORTING disclaims beneficial ownership of all such shares except
PERSON to the extent of his individual pecuniary interest
WITH therein.
--------------------------------------------------------
7 SOLE DISPOSITIVE POWER
172,453
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,174,320 shares of which 1,108,339 shares are directly
held by SC VII, 49,272 shares are directly held by STP
VII and 16,709 shares are directly held by SIP. Mr.
Leone is a Managing Member of SC VII-A. Mr. Leone
disclaims beneficial ownership of all such shares except
to the extent of his individual pecuniary interest
therein.
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,346,773
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 72581M107 Page 8 of 13 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MARK STEVENS
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
236,244 shares of which 39,739 shares are issuable upon
the exercise of options exercisable within 60 days of
December 31, 2003.
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES 1,174,320 shares of which 1,108,339 shares are directly
BENEFICIALLY held by SC VII, 49,272 shares are directly held by STP
OWNED BY VII and 16,709 shares are directly held by SIP. Mr.
EACH Stevens is a Managing Member of SC VII-A. Mr. Stevens
REPORTING disclaims beneficial ownership of all such shares except
PERSON to the extent of his individual pecuniary interest
WITH therein.
--------------------------------------------------------
7 SOLE DISPOSITIVE POWER
236,244 shares of which 39,739 shares are issuable upon
the exercise of options exercisable within 60 days of
December 31, 2003.
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,174,320 shares of which 1,108,339 shares are directly
held by SC VII, 49,272 shares are directly held by STP
VII and 16,709 shares are directly held by SIP. Mr.
Stevens is a Managing Member of SC VII-A. Mr. Stevens
disclaims beneficial ownership of all such shares except
to the extent of his individual pecuniary interest
therein.
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,410,564
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.1%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 72581M107 Page 9 of 13 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
THOMAS F. STEPHENSON
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
145,013
--------------------------------------------------------
NUMBER OF 6 1,174,320 shares of which 1,108,339 shares are directly
SHARES held by SC VII, 49,272 shares are directly held by STP
BENEFICIALLY VII and 16,709 shares are directly held by SIP. Mr.
OWNED BY Stephenson is a Managing Member of SC VII-A. Mr.
EACH Stephenson disclaims beneficial ownership of all such
REPORTING shares except to the extent of his individual pecuniary
PERSON interest therein.
WITH --------------------------------------------------------
7 SOLE DISPOSITIVE POWER
145,013
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,174,320 shares of which 1,108,339 shares are directly
held by SC VII, 49,272 shares are directly held by STP
VII and 16,709 shares are directly held by SIP. Mr.
Stephenson is a Managing Member of SC VII-A. Mr.
Stephenson disclaims beneficial ownership of all such
shares except to the extent of his individual pecuniary
interest therein.
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,319,333
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.9%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 72581M107 Page 10 of 13 Pages
--------------------------------------------------------------------------------
ITEM 1.
(a) Name of Issuer: Pixelworks, Inc.
(b) Address of Issuer's Principal Executive Offices:
8100 SW Nyberg Road
Tualatin, Oregon 97062
ITEM 2.
(a) Name of Persons Filing:
Sequoia Capital VII, a California Limited Partnership
Sequoia Technology Partners VII, a California Limited
Partnership
Sequoia International Partners, a California Limited
Partnership
SC VII Management-A, LLC
Michael Moritz ("MM")
Douglas Leone ("DL")
Mark Stevens ("MS")
Thomas F. Stephenson ("TFS")
SCVII-A is the General Partner of SC VII, STP VII and SIP.
MM, DL, MS, and TFS are Managing Members of SC VII-A.
(b) Address of Principal Business Office or, if none, Residence:
3000 Sand Hill Road, 4-180
Menlo Park, CA 94025
(c) Citizenship: MM, DL, MS, TFS: USA
SC VII-A, SC VII, STP VII, SIP: California
(d) Title of Class of Securities: Common
(e) CUSIP Number: 72581M107
ITEM 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or
(c), check whether the person filing is a:
NOT APPLICABLE
ITEM 4. Ownership
SEE ROWS 5 THROUGH 11 OF COVER PAGES
CUSIP No. 72581M107 Page 11 of 13 Pages
--------------------------------------------------------------------------------
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. [ X ]
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 OR CONTROL
PERSON
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
NOT APPLICABLE
CUSIP No. 72581M107 Page 12 of 13 Pages
--------------------------------------------------------------------------------
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 4, 2004
Sequoia Capital VII, a California Limited Partnership
Sequoia Technology Partners VII, a California Limited Partnership
Sequoia International Partners, a California Limited Partnership
By: SC VII Management-A, LLC,
their General Partner
By: /s/ Michael Moritz
------------------------------------------------
Michael Moritz, Managing Member
/s/ Douglas Leone
-----------------------------------------------------
Douglas Leone
/s/ Michael Moritz
-----------------------------------------------------
Michael Moritz
/s/ Thomas F. Stephenson
-----------------------------------------------------
Thomas F. Stephenson
/s/ Mark Stevens
-----------------------------------------------------
Mark Stevens
CUSIP No. 72581M107 Page 13 of 13 Pages
--------------------------------------------------------------------------------
EXHIBIT 1
AGREEMENT AS TO JOINT FILING OF SCHEDULE 13G
The undersigned hereby agree that the Schedule 13G relating to shares
of Pixelworks, Inc. to which this Agreement as to Joint Filing of Schedule 13G
is attached as an exhibit is filed on behalf of each of them.
Dated: February 4, 2004
Sequoia Capital VII, a California Limited Partnership
Sequoia Technology Partners VII, a California Limited Partnership
Sequoia International Partners, a California Limited Partnership
By: SC VII Management-A, LLC,
their General Partner
By: /s/ Michael Moritz
------------------------------------------------
Michael Moritz, Managing Member
/s/ Douglas Leone
-----------------------------------------------------
Douglas Leone
/s/ Michael Moritz
-----------------------------------------------------
Michael Moritz
/s/ Thomas F. Stephenson
-----------------------------------------------------
Thomas F. Stephenson
/s/ Mark Stevens
-----------------------------------------------------
Mark Stevens