As filed with the Securities and Exchange Commission on November 3, 2000
Registration No. 333-45118
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
POST EFFECTIVE AMENDMENT NO. 1
TO
FORM S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
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PMC-SIERRA, INC.
(Exact name of registrant as specified in its charter)
Delaware 94-2925073
(State of Incorporation) (I.R.S. Employer Identification No.)
900 East Hamilton Avenue, Suite 250
Campbell, California 95008
(Address of principal executive offices)
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Quantum Effect Devices, Inc. 1999 Equity Incentive Plan
Quantum Effect Devices, Inc. 1999 Non-Employee Directors Stock Options Plan
Quantum Effect Devices, Inc. 1999 Employee Stock Purchase Plan
(Full title of the plan)
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The Corporation Trust Company
1209 Orange Street
Wilmington, Delaware 19801
(800) 677-3394
(Name, address and telephone number of agent for service)
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Copy to:
Neil Wolff
Wilson Sonsini Goodrich & Rosati
Professional Corporation
650 Page Mill Road
Palo Alto, California 94304-1050
(650) 493-9300
CALCULATION OF REGISTRATION FEE
================= ============== ============ ==================== =============
Proposed Proposed
Title of Maximum Maximum Amount
Securities Amount Offering Aggregate of
to be to be Price Per Offering Registration
Registered (1) Registered Share Price Fee
- ----------------- -------------- ----------- -------------------- ------------
Common Stock,
$0.001 par value 1,965,715 (2) $26.08 (2) $ 51,265,847.20 (2) $13,534.10
================= ============== =========== ==================== ============
Common Stock,
$0.001 par value 1,050,358 (3) $236.03 (3) $247,915,998.74 (3) $65,449.40
================= ============== =========== ==================== ============
Totals 3,016,073 $299,181,845.94 (3) $78,983.50(4)
================= ============== =========== ==================== ============
(1) Pursuant to the Acquisition Agreement dated as of July 11, 2000 among
PMC-Sierra, Inc. ("PMC"), Penn Acquisition Corp., Quantum Effect Devices,
Inc.("QED"), PMC assumed, effective as of August 24, 2000, all of the
outstanding options to purchase common stock of QED under the QED 1999
Equity Incentive Plan, the QED 1999 Non-Employee Directors Stock Option
Plan and the QED 1999 Employee Stock Purchase Plan and such options
became exercisable to purchase shares of PMC's common stock, with
appropriate adjustments to the number of shares and exercise price of
each assumed option.
(2) Options granted pursuant to an employee stock option plan. Estimated
pursuant to Rule 457(h)(1) under the Securities Act of 1933, as amended,
solely for the purpose of calculating the registration fee. Based on the
price per share at which the options may be exercised.
(3) Shares reserved for future issuance. Estimated pursuant to Rule 457(c)
under the Securities Act of 1933, as amended, solely for the purpose of
calculating the registration fee. Based on the average of the high and
low prices of the common stock on August 31, 2000, as reported on the
Nasdaq National Market.
(4) Registration fee previously paid under original S-8 dated September 1,
2000
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PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
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The following documents and information are incorporated by reference
as filed with the Securities and Exchange Commission:
1. PMC's Annual Report on Form 10-K for the fiscal year ended December 26,
1999, as amended, excluding Item 6 "Selected Financial Data" and Item 8
"Financial Statements and Supplementary Data" which have been
superceded by information contained in the sections of Amendment No. 1
to PMC's Registration Statement on Form S-4, dated July 26, 2000 (File
No. 333-41878), that are incorporated by reference below;
2. Of Amendment No. 1 to PMC's Registration Statement on Form S-4, dated
July 26, 2000 (File No. 333-41878), only the following sections are
incorporated herein by reference: "Selected Historical Consolidated
Financial Data of PMC" on pages 5 and 6, "PMC's financial condition and
results of operations" on pages 51 and 52, and "PMC annual financial
statements" in Annex E.
3. PMC's Quarterly Reports on Form 10-Q for the quarters ended June 25,
2000 and March 26, 2000; and
4. PMC's Current Reports on Form 8-K dated October 3, 2000, September 1,
2000, August 28, 2000, July 25, 2000, July 12, 2000, June 30, 2000,
June 20, 2000, April 12, 2000, and March 20, 2000, as amended.
All documents subsequently filed by PMC pursuant to Sections 13(a),
13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended, prior to
the filing of a post-effective amendment which indicates that all securities
offered 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.
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Not applicable.
Item 5. Interests of Named Experts and Counsel.
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Certain legal matters with respect to the shares will be passed upon by
Wilson, Sonsini, Goodrich & Rosati, a Professional Corporation, Palo Alto,
California.
Item 6. Indemnification of Directors and Officers.
-----------------------------------------
Section 145 of the Delaware General Corporation Law generally provides
that a corporation is empowered to indemnify any person who is made a party to
any threatened, pending or completed action, suit or proceeding by reason of the
fact that he is or was a director, officer, employee or agent of the corporation
or is or was serving, at the request of the corporation, in any of such
capacities of another corporation or other enterprise, if such director,
officer, employee or agent acted in good faith and in a manner he reasonably
believed to be in or not opposed to the best interests of the corporation, and,
with respect to any criminal action or proceeding, had no reasonable cause to
believe his conduct was unlawful. This statute describes in detail the right of
PMC to indemnify any such person.
PMC's Certificate of Incorporation eliminates in certain circumstances
the liability of directors of PMC for monetary damages for breach of their
fiduciary duty as directors. This provision does not eliminate the liability of
a director (i) for breach of the director's duty of loyalty to PMC or its
stockholders, (ii) for acts or omissions by the director not in good faith or
which involve intentional misconduct or a knowing violation of law, (iii) for
willful or negligent declaration of an unlawful dividend, stock purchase or
redemption or (iv) for transactions from which the director derived an improper
personal benefit.
PMC's Certificate of Incorporation also provides generally for
indemnification of all directors and officers of PMC to the fullest extent
permitted by the General Corporation Law of the State of Delaware. Such right to
indemnification shall be deemed to be a contract right and includes generally
the right to be paid by PMC the expenses incurred in defending any proceeding
covered by this provision in advance of its final disposition. Individuals who
are entitled to indemnification may bring suit to seek recovery of amounts due
under the foregoing provisions and to recover the expenses of such suit if
successful.
PMC has entered into indemnification agreements to such effect with its
officers and directors containing provisions which are in some respects broader
than the specific indemnification provisions contained in the General
Corporation Law of Delaware. The indemnification agreements may require PMC,
among other things, to indemnify such officers and directors against certain
liabilities that may arise by reason of their status or service as directors or
officers (other than liabilities arising from willful misconduct of a culpable
nature) and to advance their expenses incurred as a result of any proceeding
against them as to which they could be indemnified.
PMC believes that it is the position of the Commission that insofar as
the foregoing provisions may be invoked to disclaim liability for damages
arising under the Securities Act, such provisions are against public policy as
expressed in the Security Act and are therefore unenforceable.
PMC currently maintains an officers' and directors' liability insurance
policy which covers, subject to the exclusions and limitations of the policy,
officers and directors of PMC against certain liabilities which may be incurred
by them solely in such capacities.
Item 7. Exemption from Registration Claimed.
-----------------------------------
Not applicable.
Item 8. Exhibits.
--------
The Exhibits to this registration statement are listed in the Index to
Exhibits on page II-5.
Item 9. Undertakings.
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(a) PMC hereby undertakes:
(1) To file, during any period in which offers or sales
are being made, a post-effective amendment to this
registration statement to include any material
information with respect to the plan of distribution
not previously disclosed in the registration
statement or any material change to such information
in the 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
post-effective amendment any of the securities being
registered which remain unsold at the termination of
the offering.
(b) PMC hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of PMC's annual report pursuant
to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable,
each filing of an employee benefit plan's annual report pursuant to Section
15(d) of the Exchange Act) that is incorporated by reference in the 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 PMC pursuant to the Delaware General Corporation Law, the Certificate of
Incorporation or the Bylaws of PMC, Indemnification Agreements entered into
between PMC and its officers and directors, or otherwise, PMC has been advised
that in the opinion of the 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 PMC 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 hereunder, PMC 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.
SIGNATURES
Pursuant to the requirements of the Securities Act, PMC 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 or amendment
thereto to be signed on its behalf by the undersigned, thereunto duly
authorized, in New York, New York on this Novmeber 3, 2000.
PMC-SIERRA, INC.
By: /s/ John Sullivan
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John W. Sullivan
Vice President, Finance (Principal Financial
and Accounting Officer)
Signature Title Date
- --------------------------------------------------------------------------------
/s/ ROBERT L. BAILEY* President, Chief Executive Officer October __, 2000
- -------------------- (Principal Executive Officer) and
Robert L. Bailey Chairman of the Board of Directors
/s/ JOHN W. SULLIVAN Vice President, Finance (Principal October __, 2000
- -------------------- Financial and Accounting Officer)
John Sullivan
/s/ JAMES DILLER* Director October __, 2000
- ----------------
James Diller
/s/ ALEXANDRE BALKANSKI* Director October __, 2000
- -----------------------
Alexandre Balkanski
/s/ COLIN BEAUMONT* Director October __, 2000
- ------------------
Colin Beaumont
/s/ FRANK J. MARSHALL* Director October __, 2000
- ---------------------
Frank J. Marshall
*By: /s/ JOHN SULLIVAN
John Sullivan
Attorney-in-Fact
INDEX TO EXHIBITS
Exhibit Number Description
4.1+ Quantum Effect Devices, Inc. 1999 Equity Incentive Plan
4.2+ Form of Stock Option Agreement and Stock Option Grant Notice
under Quantum Effect Devices, Inc. 1999 Equity Incentive Plan
4.3+ Quantum Effect Devices, Inc. 1999 Non-Employee Directors' Stock
Option Plan
4.4+ Form of Stock Option Agreement and Stock Option Grant Notice
under Quantum Effect Devices, Inc. 1999 Non-Employee Directors'
Stock Option Plan
4.5+ Quantum Effect Devices, Inc. 1999 Employee Stock Purchase Plan
4.6+ Form of Enrollment Form and Grant of Right under Quantum Effect
Devices, Inc. 1999 Employee Stock Purchase Plan
5.1 Opinion of Wilson Sonsini Goodrich & Rosati, Professional
Corporation
23.1 Consent of Deloitte & Touche LLP, Vancouver, British Columbia,
Canada Independent Auditors
23.2 Consent of Deloitte & Touche LLP, San Jose, California,
Independent Auditors
23.3+ Consent of Counsel (Contained in Exhibit 5.1 above)
24.1+ Power of Attorney (see page II-4)
+ Previously filed