UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 28, 2006
MAGMA DESIGN AUTOMATION, INC.
(Exact name of Registrant as Specified in Its Charter)
Delaware
(State or other jurisdiction of incorporation)
| 000-33213 | 77-0454924 | |
| (Commission File Number) | (I.R.S. Employer Identification Number) |
| 5460 Bayfront Plaza, Santa Clara, California | 95054 | |
| (Address of principal executive offices) | (Zip Code) |
(408) 565-7500
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. Other Items.
As part of its efforts to induce potential new employees to accept offers of employment, from time to time Magma Design Automation, Inc. (“Magma”) agrees to grant options to purchase its common stock to such new employees. On April 28, 2006, Magma granted to 18 individuals, who commenced employment through April 25, 2006, options to purchase an aggregate of 88,450 shares of its common stock at an exercise price of $7.58 per share, which represents the closing price of Magma’s common stock as reported by Nasdaq on April 28, 2006.
These grants were made under Magma’s 2004 Employment Inducement Award Plan and were approved by Magma’s independent compensation committee.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MAGMA DESIGN AUTOMATION, INC. | ||||
| Dated: May 4, 2006 | ||||
| By: | /s/ Peter S. Teshima | |||
| Peter S. Teshima | ||||
| Senior Vice President- Finance and | ||||
| Chief Financial Officer | ||||