sv8
As filed with the Securities and Exchange Commission on February 1, 2008
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
PHOENIX TECHNOLOGIES LTD.
(Exact name of Registrant as specified in its charter)
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Delaware
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04-2685985 |
(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer
Identification No.) |
915 Murphy Ranch Road
Milpitas, CA 95035
(Address of Principal Executive Offices)
2007 Equity Incentive Plan
2001 Employee Stock Purchase Plan
(Full title of the plan)
Woodson M. Hobbs
Chief Executive Officer
Phoenix Technologies Ltd.
915 Murphy Ranch Road
Milpitas, CA 95035
(Name and address of agent for service)
(408) 570-1000
(Telephone number, including area code, of agent for service)
Copy to:
Elias J. Blawie, Esq.
Heller Ehrman, LLP
275 Middlefield Road
Menlo Park, California 94025
(650) 324-7000
(Calculation of Registration Fee on following page)
CALCULATION OF REGISTRATION FEE
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Proposed |
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Proposed |
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maximum |
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maximum |
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Amount of |
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Title of each class of securities |
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Amount to be |
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offering price |
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aggregate |
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registration |
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to be registered |
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registered(1) |
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per share |
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offering price |
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fee |
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2001 Employee Stock Purchase Plan |
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Common Stock,
$0.001 par value |
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500,000 Shares |
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$12.56(2) |
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$6,280,000 |
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$246.81 |
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2007 Equity Incentive Plan |
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Common Stock,
$0.001 par value |
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3,500,000 Shares |
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$14.78(3) |
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$51,730,000 |
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$2,032.99 |
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Common Stock,
$0.001 par value |
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3,620,604 Shares(4) |
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$9.50(5) |
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$34,395,738 |
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$1,351.76 |
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Common Stock,
$0.001 par value |
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438,991 Shares(4) |
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$14.78 (3) |
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$6,488,287 |
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$254.99 |
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TOTAL |
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8,059,595 Shares |
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$98,894,025 |
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$3,886.55 |
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(1) |
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This registration statement shall also cover any additional shares of common stock which
become issuable under any of the plans being registered pursuant to this registration
statement by reason of any stock dividend, stock split, recapitalization or any other similar
transaction effected without the receipt of consideration which results in an increase in the
number of the registrants outstanding shares of common stock. |
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(2) |
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Estimated in accordance with Rule 457(h) under the Securities Act of 1933 (the
Securities Act) solely for the purpose of calculating the registration fee. The
computation is based upon the average of the high and low sale prices of the common stock as
reported on the Nasdaq Global Market on January 30, 2008, multiplied by 85%, which is the
percentage of the trading purchase price applicable to purchases under the referenced Plan. |
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(3) |
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Estimated in accordance with Rule 457(h) under the Securities Act solely for the purpose of
calculating the registration fee. The computation is based upon the average of the high and
low sale prices of the common stock issuable upon exercise of options granted under the
referenced Plan as reported on the Nasdaq Global Market on January 30, 2008. |
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(4) |
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Represents shares issued and outstanding or available for issuance under the Companys 1999
Stock Plan. Upon approval of the 2007 Equity Incentive Plan by the Companys stockholders,
the Company ceased granting new awards under the 1999 Stock Plan and the shares available for
issuance under the 1999 Plan and subject to outstanding options under the 1999 Plan which are
cancelled, expired or forfeited or for which the underlying shares are repurchased are now
reserved for issuance under the 2007 Equity Incentive Plan. |
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(5) |
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Computed in accordance with Rule 457(h) under the Securities Act solely for the purpose of
calculating the registration fee. Computation based on the weighted average per share
exercise price (rounded to nearest
cent) of outstanding options under the referenced plan, the shares issuable under which are
registered hereby. |
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed with the Securities and Exchange Commission (the
Commission) are hereby incorporated by reference:
(a) The registrants Annual Report on Form 10-K for the fiscal year ended September
30, 2007 which contains audited financial statements for the registrants latest fiscal
year for which such statements have been filed.
(b) The registrants Quarterly Report on Form 10-Q for the three month period ended
December 31, 2007.
(c) All other reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act
of 1934 (the Exchange Act) since the end of the fiscal year covered by the Annual Report
referred to in (a) above.
(d) The description of the registrants common stock contained in the registrants
Registration Statement on Form 8-A filed with the Commission on August 5, 1988 including any
amendment or report filed for the purpose of updating such description.
All documents subsequently filed by the registrant pursuant to Sections 13(a), 13(c), 14 and
15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates that
all securities offered hereby have been sold or which deregisters all securities then remaining
unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be
part hereof from the date of filing such documents.
Item 4. Description of Securities. Not applicable.
Item 5. Interests of Named Experts and Counsel. Not applicable.
Item 6. Indemnification of Directors and Officers.
Section 145 of the Delaware General Corporation Law grants to each corporation the power to
indemnify its officers, directors, and other corporate agents for monetary damages for actions
taken as a director, office, employee or agent of the corporation, subject to certain exceptions.
The registrants Certificate of Incorporation reduces the liability of a director to the
corporation or its shareholders for monetary damages for breaches of his or her fiduciary duty of
care to the fullest extent permissible under Delaware law. The Bylaws of the registrant further
provide for indemnification of corporate agents to the maximum extent permitted by the Delaware
General Corporation Law. In addition, the registrant has entered into Indemnification Agreements
with its officers and directors.
Article NINTH of the registrants Amended and Restated Certificate of Incorporation (the
Restated Certificate) eliminates the personal liability of the registrants directors to the
registrant or its stockholders for monetary damages for breach of a directors fiduciary duty,
except for liability: (1) for breach of a directors duty of loyalty to the registrant or its
stockholders; (2) for acts or omissions not in good faith or involving intentional misconduct or
knowing violations of law; (3) under Section 174 of the Delaware General Corporation Law; or (4)
for any transaction from which the director derived an improper personal benefit. If the General
Corporation Law of Delaware is subsequently amended to authorize corporate action further
eliminating or limiting the personal liability of directors, then the Restated Certificate provides
that the liability of a director of the corporation shall be eliminated or limited to the fullest
extent permitted by the General Corporation Law of Delaware, as so amended.
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Article TENTH of the registrants Restated Certificate sets forth the extent to which
officers and directors of the registrant may be indemnified against any liabilities which they may
incur in their capacities as directors or officers of the registrant. Article TENTH provides, in
part, that each person who was or is made a party or is threatened to be made a party or is
involved in any action, suit or proceeding by reason of the fact that he or she is or was a
director or officer of the registrant or is or was serving at the request of the registrant as a
director, officer, employee or agent of another corporation or of a partnership, joint venture,
trust or other enterprise, including service with respect to employee benefit plans, shall be
indemnified and held harmless by the registrant, to the fullest extent authorized by the Delaware
General Corporation Law, against all expense, liability and loss (including attorneys fees,
judgments, fines, ERISA excise taxes or penalties and amounts paid or to be paid in settlement)
reasonably incurred or suffered by such person in connection with such action, suit or proceeding;
provided, however, that if the person seeking indemnification initiated the proceeding in respect
to which he or she is seeking indemnification from the registrant, the registrant shall provide
such indemnification only if such proceeding was authorized by the registrants Board of Directors.
The right to indemnification includes the right to be paid expenses incurred in defending any such
proceeding in advance of its final disposition; provided, however, that if the Delaware General
Corporation Law so requires, the payment of such expenses in advance of the final disposition of a
proceeding shall be made only upon delivery to the registrant of an undertaking, by or on behalf of
such director or officer, to repay all amounts so advanced if it shall ultimately be determined
that such director or officer is not entitled to indemnification.
In addition, the registrant has entered into Indemnification Agreements with its officers and
directors.
Item 7. Exemption from Registration Claimed. Not applicable.
Item 8. Exhibits.
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Exhibit |
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Number |
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5.1
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Opinion of Heller Ehrman, LLP. |
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23.1
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Consent of Heller Ehrman, LLP (included in Exhibit 5.1). |
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23.2
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Consent of Ernst & Young LLP, Independent Registered Public
Accounting Firm |
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24.1
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Power of Attorney (see p. 6). |
Item 9. Undertakings.
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii) To reflect in the prospectus any facts or events arising after the effective date of this
Registration Statement (or the most recent post-effective amendment hereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in this Registration
Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and
any deviation from the low or high end of the estimated maximum offering range may be reflected in
the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the maximum aggregate offering
price set forth in the Calculation of Registration Fee table in the effective Registration
Statement; and
(iii) To include any material information with respect to the plan of distribution not
previously disclosed in this Registration Statement or any material change to such information in
this Registration Statement;
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provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in periodic
reports filed by the registrant
pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference
in this Registration Statement.
(2) That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the registrants annual report pursuant to
Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an
employee benefit plans annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference into this Registration Statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or paid by
a director, officer or controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Securities Act and will be governed by the final adjudication of such issue.
[Signature Pages Follow]
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Milpitas, State of California, on January 30, 2008.
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PHOENIX TECHNOLOGIES LTD.
(Registrant)
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By: |
/s/ Woodson M. Hobbs
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Woodson M. Hobbs |
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President and Chief Executive Officer |
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POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes
and appoints Timothy C. Chu and Woodson Hobbs, jointly and severally, his or her attorneys-in-fact
and agents, each with the power of substitution and resubstitution, for him or her and in his or
her name, place or stead, in any and all capacities, to sign any amendments to this Registration
Statement on Form S-8, and to file such amendments, together with exhibits and other documents in
connection therewith, with the Securities and Exchange Commission, granting to each
attorney-in-fact and agent, full power and authority to do and perform each and every act and thing
requisite and necessary to be done in and about the premises, as fully as he or she might or could
do in person, and ratifying and confirming all that the attorneys-in-fact and agents, or his or her
substitute or substitutes, may do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities and on the dates indicated.
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Signature |
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Title |
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Date |
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/s/ Woodson M. Hobbs
Woodson M. Hobbs
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Director, President and Chief
Executive Officer (Principal
Executive Officer)
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January 30, 2008 |
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/s/ Richard W. Arnold
Richard W. Arnold
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Chief Operating Officer and
Chief Financial Officer
(Principal Financial and
Accounting Officer)
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January 30, 2008 |
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/s/ Dale L. Fuller
Dale L. Fuller
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Director
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January 30, 2008 |
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/s/ Douglas E. Barnett
Douglas E. Barnett
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Director
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January 30, 2008 |
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/s/ Michael M. Clair
Michael M. Clair
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Director
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January 30, 2008 |
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/s/ John Mutch
John Mutch
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Director
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January 30, 2008 |
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/s/ Richard M. Noling
Richard M. Noling
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Director
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January 30, 2008 |
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INDEX TO EXHIBITS
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Exhibit |
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Number |
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5.1
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Opinion of Heller Ehrman, LLP. |
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23.1
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Consent of Heller Ehrman, LLP (included in Exhibit 5.1). |
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23.2
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Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm. |
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24.1
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Power of Attorney (see p. 6). |