UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Blumenthal, Randall A.
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(Last) (First) (Middle)
c/o Goldman, Sachs & Co.
85 Broad Street
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(Street)
New York, New York 10004
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
StorageNetworks, Inc.
(STOR)
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3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
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4. Statement for Month/Year
January/2001
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ X ] Director [ ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
[ X ] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, |
or Beneficially Owned |
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| | | | |6. | |
| | | 4. |5. |Owner- | |
| | | Securities Acquired (A) or |Amount of |ship | |
| | 3. | Disposed of (D) |Securities |Form: |7. |
|2. | Transaction| (Instr. 3, 4 and 5) |Beneficially |Direct |Nature of |
|Transaction | Code | -------------------------------|Owned at End |(D) or |Indirect |
1. |Date | (Instr. 8) | | (A) | |of Month |Indirect |Beneficial|
Title of Security |(Month/Day/ | -----------| Amount | or | Price |(Instr. 3 |(I) |Ownership |
(Instr. 3) |Year) | Code | V | | (D) | |and 4) |(Instr.4)|(Instr. 4)|
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| | | | | | | | | |
Common Stock | 01/10/01 | P | | 500 | A | $19.75 | | I | 01,02 |
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| | | | | | | | | |
Common Stock | 01/10/01 | P | | 500 | A | $19.8125| | I | 01,02 |
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| | | | | | | | | |
Common Stock | 01/10/01 | P | | 500 | A | $20.00 | | I | 01,02 |
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| | | | | | | | | |
Common Stock | 01/10/01 | S | | 1,500 | D | $19.75 | 11,087,447 | I | 01,02 |
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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
4(b)(v).
FORM 4 (continued)
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Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned |
(e.g., puts, calls, warrants, options, convertible securities) |
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| | | | | | | |9. |10. | |
| | | | | | | |Number |Owner-| |
| | | | | | | |of |ship | |
|2. | | | | | | |Deriv- |of | |
|Conver- | | | 5. | |7. | |ative |Deriv-|11. |
|sion | | | Number of | |Title and Amount | |Secur- |ative |Nature|
|or | | | Derivative |6. |of Underlying |8. |ities |Secur-|of |
|Exer- | |4. | Securities |Date |Securities |Price |Bene- |ity: |In- |
|cise |3. |Trans- | Acquired (A) |Exercisable and |(Instr. 3 and 4) |of |ficially|Direct|direct|
|Price |Trans- |action | or Disposed |Expiration Date |------------------------|Deriv- |Owned |(D) or|Bene- |
1. |of |action |Code | of (D) |(Month/Day/Year) | |Amount |ative |at End |In- |ficial|
Title of |Deriv- |Date |(Instr | (Instr. 3, |-----------------| |or |Secur- |of |direct|Owner-|
Derivative |ative |(Month/ |8) | 4 and 5) |Date |Expira- | |Number |ity |Month |(I) |ship |
Security |Secur- |Day/ |------ | ------------- |Exer- |tion | |of |(Instr.|(Instr. |(Instr|(Instr|
(Instr. 3) |ity |Year) |Code |V| (A)| (D) |cisable |Date |Title |Shares |5) |4) |4) |4) |
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Stock Option | | | | | | | | | | | | | | |
(right to buy) | $8.00 | | | | | | 03 |01/27/10|Common Stock | 25,000| | 25,000 | 03 | 01,03|
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Explanation of Responses:
01: The Reporting Person is a managing director of Goldman, Sachs & Co.
("Goldman Sachs"). Goldman Sachs is an indirect wholly-owned subsidiary of The
Goldman Sachs Group, Inc. ("GS Group"). The Reporting Person disclaims
beneficial ownership of the securities reported herein except to the extent of
his pecuniary interest therein, if any.
02: The securities reported herein as indirectly purchased and sold were
purchased and sold and were owned directly by Spear, Leeds & Kellogg, L.P.
("SLK"). SLK is an indirect wholly-owned subsidiary of GS Group. Without
admitting any legal obligation, Goldman Sachs or an affiliate will remit
appropriate profits, if any, to the Company.
Goldman Sachs and GS Group may be deemed to own beneficially and indirectly, in
aggregate, 11,087,447 shares of Common Stock through certain investment
partnerships of which affiliates of Goldman Sachs and GS Group are the general
partner or managing partner (the "Limited Partnerships"). Goldman Sachs is the
investment manager of certain of the Limited Partnerships.
03: These options were granted pursuant to the Issuer's Amended and Restated
1998 Stock Incentive Plan to the Reporting Person. These options are immediately
exercisable in full, subject to the Issuer's right to repurchase a percentage of
any shares of Common Stock issued upon exercise of these options ("Shares"), as
follows: If the Reporting Person ceases to be either an employee, officer or
director of the Issuer at any time during the 12 month period between 01/26/01
and 01/26/02, the Issuer has the right to repurchase 50% of the Shares. These
repurchase rights of the Issuer terminate in any event upon certain acquisition
events of the Issuer or upon the death or disability of the Reporting Person.
The Reporting Person has an understanding with GS Group pursuant to which he
holds such options for the benefit of GS Group.
By: s/ Roger S. Begelman February 7, 2001
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**Signature of Reporting Person Date
Attorney-in-fact
** 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 provided is insufficient, see Instruction 6 for procedures.
Alternatively, this Form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to Rule 101(b)(4) of Regulation S-T.