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FORM 5                                             
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/ / Check this box if no           U.S. SECURITIES AND EXCHANGE COMMISSION 
    longer subject to                       WASHINGTON, DC 20549     
    Section 16. Form                                                 
    4 or Form 5             ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
    obligations may                                                            
    continue. See            Filed pursuant to Section 16(a) of the Securities 
    Instruction 1(b)                         Exchange Act of 1934,            
/ / Form 3 Holdings                  Section 17(a) of the Public Utility      
    Reported                 Holding Company Act of 1935 or Section 30(f) of 
/ / Form 4                              the Investment Company Act            
    Transactions                                   of 1940                    
    Reported                             

                                                                                                       
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 1. Name and Address of Reporting Person*      2. Issuer Name and Ticker or Trading Symbol   6. Relationship of Reporting Person to
    McNiffe       Chris             J.           8x8, Inc. - EGHT                               Issuer (Check all applicable)
- -------------------------------------------    ----------------------------------------------    X  Director         10% Owner
  (Last)          (First)          (Middle)    3. IRS or Social Security  4. Statement for      ----              ---
   2445 Mission College Blvd.                     Number of Reporting        Month/Year          X  Officer (give    Other (specify
- -------------------------------------------       Person (Voluntary)        March 25, 1999      ----        title ---       below)
                 (Street)                                                 -------------------               below)
   Santa Clara     California       95054                                 5. If Amendment,         Vice President Sales & Marketing
- -------------------------------------------                                  Date of Original      --------------------------------
  (City)           (State)           (Zip)                                   (Month/Year)              
                                                                                             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 1 -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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 1. Title of Security           2. Trans-   3. Transac-  4. Securities Acquired(A)   5.  Amount of Se-    6. Owner-      7. Nature 
    (Instr. 3)                     action      tion         or Disposed of(D)            curities Benefi-    ship           of In- 
                                   Date        Code         (Instr. 3, 4 and 5)          cially Owned at     Form:          direct 
                                               (Instr. 8)                                End of Issuer's     Direct         Benefi-
                                  (Month/                                                Fiscal Year         (D) or         cial
                                   Day/                 ----------------------------     (Instr. 3 and 4)    Indirect       Owner- 
                                   Year)                Amount    (A) or      Price                          (I)            ship   
                                                                  (D)                                        (Instr. 4)     (Instr.
                                                                                                                            4)     

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  Common Stock                                                                           180,476(1)(2)(3)       D 
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*If the form is filed by more than one Reporting Person, see Instruction 4(b)(v). (1) Includes shares acquired under the 8x8, Inc. Employee Stock Purchase Plan. (2) Includes 8,335 shares which may be subject to a right of repurchase in favor of 8x8, Inc. The right of repurchase lapses on a monthly basis through July 10, 1999 as long as Mr. McNiffe remains an employee or consultant of the Company. (3) Includes 17,939 shares which may be subject to a right of repurchase in favor of 8x8, Inc. The right of repurchase lapses on a monthly basis through June 24, 2000 as long as Mr. McNiffe remains an employee or consultant of the Company. SEC 2270(7-96) 2
FORM 5 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES) - ------------------------------------------------------------------------------------------------------------------------------------ 1. Title of Derivative 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date Exer- 7. Title and Amount 8. Price Security sion or action action Derivative cisable and of Underlying of (Instr. 3) Exercise Date Code Securities Ac- Expiration Securities Deriv- Price of (Month/ (Instr. 8) quired (A) or Date (Instr. 3 and 4) ative Deriv- Day/ Disposed of (D) (Month/Day/ Secur- ative Year) (Instr. 3, 4, Year) ity Security and 5) (Instr. 5) ----------------------------------- Date Expira- Amount or --------------- Exer- tion Title Number of (A) (D) cisable Date Shares - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option Common (right to buy) $6.80 9/21/98 D(4) 30,000 (5) 6/23/2007 Stock 30,000 - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option Common (right to buy) $3.00 9/21/98 A 30,000 (6) 6/23/2007 Stock 30,000 - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option Common (right to buy) $2.44 10/19/98 A 25,000 (7) 10/19/2008 Stock 25,000 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------- 1. Title of Derivative 9. Number of 10. Ownership 11. Nature of Security Derivative of Derivative Indirect (Instr. 3) Securities Security: Beneficial Beneficially Direct (D) Ownership Owned at End or Indirect (I) (Instr. 4) of Year (Instr. 4) (Instr. 4) - ------------------------------------------------------------------------------------------------------- 0 D - ------------------------------------------------------------------------------------------------------- D - ------------------------------------------------------------------------------------------------------- 55,000 D - ------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------- Explanation of Responses: (4) Cancellation of option in connection with grant of replacement option. (5) Vesting schedule is the same as previously reported on Form 3. (6) The vesting schedule for the cancelled option was previously reported and the terms and conditions of the replacement option are the same as that of the cancelled option and were not amended at the time of the repricing, except (i) the excercise price shall be the fair market value of the Company's common stock on September 21, 1998 and (ii) the option will not be exercisable before September 21, 1999. (7) 1/48th of the Shares vest on the last day of each full month after October 19, 1998 until all of the Shares have vested. **Intentional misstatements or omissions of facts constitute Federal Criminal Violations. /s/ Chris J. McNiffe May 5, 1999 See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). --------------------------------------- **Signature of Reporting Person Date Note. File three copies of this Form, one of which must be manually signed. Page 2 If space provided is insufficient, See Instruction 6 for procedure. SEC 2270(7-96) 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 Number.