SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-A
FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES
PURSUANT TO SECTION 12(b) OR 12(g) OF THE
SECURITIES EXCHANGE ACT OF 1934
Hewlett-Packard Company
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(Exact Name of Registrant as Specified in Its Charter)
Delaware 94-1081436
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(State of Incorporation or Organization) (I.R.S. Employer
Identification no.)
3000 Hanover Street
Palo Alto, California 94304
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(Address of Principal Executive Offices) Zip Code
If this form relates to the registration of a class of securities pursuant to
Section 12(b) of the Exchange Act and is effective pursuant to General
Instruction A.(c), please check the following box. /x/
If this form relates to the registration of a class of securities pursuant to
Section 12(g) of the Exchange Act and is effective pursuant to General
Instruction A.(d), please check the following box. / /
Securities Act registration statement file number to which this form relates (if
applicable): Not applicable.
Securities to be registered pursuant to Section 12(b) of the Act:
TITLE OF EACH CLASS NAME OF EACH EXCHANGE ON WHICH
TO BE SO REGISTERED EACH CLASS IS TO BE REGISTERED
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Preferred Share Purchase Rights New York Stock Exchange
Securities to be registered pursuant to Section 12(g) of the Act:
None
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(Title of Class)
Item 1. DESCRIPTION OF SECURITIES TO BE REGISTERED.
On August 31, 2001, the Board of Directors of Hewlett-Packard Company, a
Delaware corporation (the "Company"), declared a dividend of one Preferred Share
Purchase Right (each, a "Right" and collectively, the "Rights") to purchase one
one-thousandth of a share of the Company's Series A Participating Preferred
Stock ("Series A Preferred") for each outstanding share of Common Stock, par
value $0.01 per share, of the Company ("Common Shares"). The dividend is payable
on September 17, 2001 (the "Record Date") to stockholders of record as of the
close of business on that date. The terms of the Rights are governed by a
Preferred Stock Rights Agreement, dated as of August 31, 2001, between the
Company and Computershare Investor Services, LLC (the "Rights Agreement").
The following summary of the principal terms of the Rights Agreement, is a
general description only and is subject to the detailed terms and conditions of
the Rights Agreement. A copy of the Rights Agreement is attached as Exhibit 4.1
to this registration statement and is incorporated herein by reference.
RIGHTS EVIDENCED BY COMMON SHARE CERTIFICATES
The Rights will not be exercisable until the Distribution Date (defined
below). Certificates for the Rights ("Rights Certificates") will not be sent to
stockholders and the Rights will attach to and trade only together with the
Common Shares. Accordingly, Common Share certificates outstanding on the Record
Date will evidence the Rights related thereto, and Common Share certificates
issued after the Record Date will contain a notation incorporating the Rights
Agreement by reference. Until the Distribution Date (or earlier redemption or
expiration of the Rights), the surrender or transfer of any certificates for
Common Shares, outstanding as of the Record Date, even without notation or a
copy of the Summary of Rights being attached thereto, also will constitute the
transfer of the Rights associated with the Common Shares represented by such
certificate.
DISTRIBUTION DATE
The Rights will be separate from the Common Shares, Rights Certificates
will be issued and the Rights will become exercisable upon the earlier to
occur of (a) the tenth day (or such later date as may be determined by the
Company's Board of Directors) after a person or group of affiliated or
associated persons ("Acquiring Person") has acquired, or obtained the right
to acquire, beneficial ownership of 15% or more of the Common Shares then
outstanding, or (b) the tenth business day (or such later date as may be
determined by the Company's Board of Directors) after a person or group
announces a tender or exchange offer, the consummation of which would result
in ownership by a person or group of 15% or more of the Company's then
outstanding Common Shares. The earlier of such dates is referred to as the
"Distribution Date."
ISSUANCE OF RIGHTS CERTIFICATES; EXPIRATION OF RIGHTS
As soon as practicable following the Distribution Date, a Rights
Certificate will be mailed to holders of record of the Common Shares as of the
close of business on the Distribution Date and such separate Rights Certificate
alone will evidence the Rights from and after the Distribution Date. The Rights
will expire on the earlier to occur of (i) September 17, 2011 (the "Final
Expiration Date"), or (ii) redemption or exchange of the Rights as described
below.
INITIAL EXERCISE OF THE RIGHTS
Each Right entitles the registered holder to purchase from the Company one
one-thousandth of a share of Series A Preferred at an exercise price of $180.00
(the "Purchase Price"), subject to adjustment.
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Following the Distribution Date, and until one of the further events described
below, holders of the Rights will be entitled to receive, upon exercise and the
payment of the Purchase Price, one one-thousandth share of the Series A
Preferred. In the event that the Company does not have sufficient Series A
Preferred available for all Rights to be exercised, or the Board decides that
such action is necessary and not contrary to the interests of Rights holders,
the Company may instead substitute cash, assets or other securities for the
Series A Preferred for which the Rights would have been exercisable under this
provision or as described below.
RIGHT TO BUY COMPANY COMMON SHARES
Unless the Rights are earlier redeemed, in the event that an Acquiring
Person obtains 15% or more of the Company's then outstanding Common Shares, then
each holder of a Right which has not theretofore been exercised (other than
Rights beneficially owned by the Acquiring Person, which will thereafter be
void) will thereafter have the right to receive, upon exercise, Common Shares
having a value equal to two times the Purchase Price. Rights are not exercisable
following the occurrence of an event as described above until such time as the
Rights are no longer redeemable by the Company as set forth below.
RIGHT TO BUY ACQUIRING COMPANY STOCK
Similarly, unless the Rights are earlier redeemed, in the event that,
after an Acquiring Person obtains 15% or more of the Company's then outstanding
Common Shares, (i) the Company is acquired in a merger or other business
combination transaction, or (ii) 50% or more of the Company's consolidated
assets or earning power are sold (other than in transactions in the ordinary
course of business), proper provision must be made so that each holder of a
Right which has not theretofore been exercised (other than Rights beneficially
owned by the Acquiring Person, which will thereafter be void) will thereafter
have the right to receive, upon exercise, shares of common stock of the
acquiring company having a value equal to two times the Purchase Price.
EXCHANGE PROVISION
At any time after an Acquiring Person obtains 15% or more of the Company's
then outstanding Common Shares and prior to the acquisition by such Acquiring
Person of 50% or more of the Company's outstanding Common Shares, the Board of
Directors of the Company may exchange the Rights (other than Rights owned by the
Acquiring Person), in whole or in part, at an exchange ratio of one Common Share
per Right.
REDEMPTION
At any time on or prior to the Close of Business on the earlier of (i) the
fifth day following the attainment of 15% or more of the Company's then
outstanding Common Shares by an Acquiring Person (or such later date as may be
determined by action of the Company's Board of Directors and publicly announced
by the Company), or (ii) the Final Expiration Date, the Company may redeem the
Rights in whole, but not in part, at a price of $0.001 per Right.
ADJUSTMENTS TO PREVENT DILUTION
The Purchase Price payable, the number of Rights, and the number of Series
A Preferred or Common Shares or other securities or property issuable upon
exercise of the Rights are subject to adjustment from time to time in connection
with the dilutive issuances by the Company as set forth in the Rights Agreement.
With
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certain exceptions, no adjustment in the Purchase Price will be required until
cumulative adjustments require an adjustment of at least 1% in such Purchase
Price.
CASH PAID INSTEAD OF ISSUING FRACTIONAL SHARES
No fractional Common Shares will be issued upon exercise of a Right and,
in lieu thereof, an adjustment in cash will be made based on the market price of
the Common Shares on the last trading date prior to the date of exercise.
NO STOCKHOLDERS' RIGHTS PRIOR TO EXERCISE
Until a Right is exercised, the holder thereof, as such, will have no
rights as a stockholder of the Company (other than any rights resulting from
such holder's ownership of Common Shares), including, without limitation, the
right to vote or to receive dividends.
AMENDMENT OF RIGHTS AGREEMENT
The terms of the Rights and the Rights Agreement may be amended in any
respect without the consent of the Rights holders on or prior to the
Distribution Date; thereafter, the terms of the Rights and the Rights Agreement
may be amended without the consent of the Rights holders in order to cure any
ambiguities or to make changes which do not adversely affect the interests of
Rights holders (other than the Acquiring Person).
RIGHTS AND PREFERENCES OF THE SERIES A PREFERRED
Each one one-thousandth of a share of Series A Preferred has rights and
preferences substantially equivalent to those of one Common Share.
NO VOTING RIGHTS
Rights will not have any voting rights.
CERTAIN ANTI-TAKEOVER EFFECTS
The Rights approved by the Board are designed to protect and maximize the
value of the outstanding equity interests in the Company in the event of an
unsolicited attempt by an acquirer to take over the Company in a manner or on
terms not approved by the Board of Directors. Takeover attempts frequently
include coercive tactics to deprive the Company's Board of Directors and its
stockholders of any real opportunity to determine the destiny of the Company.
The Rights have been declared by the Board in order to deter such tactics,
including a gradual accumulation of shares in the open market of 15% or greater
position to be followed by a merger or a partial or two-tier tender offer that
does not treat all stockholders equally. These tactics unfairly pressure
stockholders, squeeze them out of their investment without giving them any real
choice and deprive them of the full value of their shares.
The Rights are not intended to prevent a takeover of the Company and will
not do so. Subject to the restrictions described above, the Rights may be
redeemed by the Company at $0.001 per Right at any time prior to the
Distribution Date. Accordingly, the Rights should not interfere with any merger
or business combination approved by the Board of Directors.
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However, the Rights may have the effect of rendering more difficult or
discouraging an acquisition of the Company deemed undesirable by the Board of
Directors. The Rights may cause substantial dilution to a person or group that
attempts to acquire the Company on terms or in a manner not approved by the
Company's Board of Directors, except pursuant to an offer conditioned upon the
negation, purchase or redemption of the Rights.
Issuance of the Rights does not in any way weaken the financial strength
of the Company or interfere with its business plans. The issuance of the Rights
themselves has no dilutive effect, no accounting effect (including no effect
on reported earnings per share), should not be taxable to the Company or to its
stockholders, and will not change the way in which the Company's shares are
presently traded. The Company's Board of Directors believes that the Rights
represent a sound and reasonable means of addressing the complex issues of
corporate policy created by the current takeover environment.
Item 2. EXHIBITS.
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3.1 Certificate of Incorporation of Hewlett-Packard Company1
3.2 Certificate of Amendment to Certificate of Incorporation of
Hewlett-Packard Company2
3.3 Amended and Restated Bylaws of Hewlett-Packard Company
3.4 Certificate of Designation of Rights, Preferences and Privileges
of Series A Participating Preferred Stock of Hewlett-Packard
Company
4.1 Preferred Stock Rights Agreement, dated as of August 31, 2001,
between Hewlett-Packard Company and Computershare Investor
Services, LLC.
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1 Incorporated by reference as Exhibit 3(a) to the Company's Quarterly
Report on Form 10-Q for the fiscal quarter ended April 30, 1998.
2 Incorporated by reference as Exhibit 3(b) to the Company's Quarterly
Report on Form 10-Q for the fiscal quarter ended January 31, 2001.
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SIGNATURE
Pursuant to the requirements of Section 12 of the Securities Exchange Act
of 1934, the registrant has duly caused this registration statement to be signed
on its behalf by the undersigned, thereto duly authorized.
Date: September 4, 2001 HEWLETT-PACKARD COMPANY
By: /s/ Charles N. Charnas
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Charles N. Charnas
Assistant Secretary
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