As filed with the Securities and Exchange Commission on on November 24, 1999
Registration No. 333-14241, 333-12095, 333-02889, and 333-00779
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
POST EFFECTIVE AMENDMENT NO. 2 TO
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
ADAPTEC, INC.
(Exact name of issuer as specified in its charter)
DELAWARE 94-2748530
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(State of Incorporation) (I.R.S. Employer Identification No.)
691 South Milpitas Boulevard
Milpitas, California 95035
(Address of principal executive offices)
1990 DIRECTORS' OPTION PLAN
1990 STOCK PLAN
1999 STOCK PLAN
DATA KINESIS, INC. 1996 STOCK OPTION/STOCK ISSUANCE PLAN
(Full title of the Plan)
ROBERT N. STEPHENS
President and Chief Executive Officer
ADAPTEC, INC.
691 South Milpitas Boulevard
Milpitas, California 95035
(408) 945-8600
(Name, address and telephone number of agent for service)
COPIES TO:
HENRY P. MASSEY, JR., ESQ.
Wilson Sonsini Goodrich & Rosati
Professional Corporation
650 Page Mill Road
Palo Alto, California 94304-1050
(650) 493-9300
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CALCULATION OF REGISTRATION FEE
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PROPOSED PROPOSED
MAXIMUM MAXIMUM
AMOUNT OFFERING AGGREGATE AMOUNT OF
TITLE OF SECURITIES TO BE PRICE OFFERING REGISTRATION
TO BE REGISTERED REGISTERED PER SHARE PRICE FEE
- ----------------------------------------- ------------------------- ---------------------- ---------------------- -----------------
Common Stock
$0.001 par value, to be issued
under 1990 Stock Plan.............. N/A* N/A* N/A* N/A*
========================================= ========================= ====================== ====================== =================
* No additional securities are to be registered, and registration fees were
paid upon filing of the original Registration Statement Nos. 333-14241,
333-12095, 333-02889, and 333-00779. Therefore, no further registration fee
is required.
EXPLANATORY NOTE WITH RESPECT TO
POST-EFFECTIVE AMENDMENT NO. 1
The Post-Effective Amendment No. 1 ("Amendment No. 1") to certain
Registration Statements on Form S-8 (File Nos. 333-14241, 333-12095, 333-02889
and 333-0077 ) (the "Registration Statements") was filed pursuant to Rule 414
under the Securities Act of 1933, as amended (the "Securities Act") by Adaptec,
Inc., a Delaware corporation ("Adaptec Delaware" or the "Company"), which is the
successor to Adaptec, Inc., a California corporation ("Adaptec California"),
following a statutory merger effective on March 12, 1998 (the "Merger") for the
purpose of changing Adaptec California's state of incorporation. Prior to the
Merger, Adaptec Delaware had no assets or liabilities other than nominal assets
or liabilities. In connection with the Merger, Adaptec Delaware succeeded by
operation of law to all of the assets and liabilities of Adaptec California. The
Merger was approved by the shareholders of Adaptec California at a meeting for
which proxies were solicited pursuant to Section 14(a) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act").
Except as modified by Amendment No. 1 (including modifications
resulting from the incorporation of documents by reference), Adaptec Delaware,
by virtue of Amendment No. 1, expressly adopted the Registration Statements as
its own registration statements for all purposes of the Securities Act and the
Exchange Act.
EXPLANATORY NOTE WITH RESPECT TO
POST-EFFECTIVE AMENDMENT NO. 2
On September 9, 1999, the Stockholders (the "Stockholders") of Adaptec,
Inc. approved the Company's 1999 Stock Plan and authorized for issuance
thereunder (a) 1,000,000 shares of Common Stock plus (b) any shares of Common
Stock reserved but ungranted under the Company's 1990 Stock Plan as of the date
of Stockholder approval plus (c) any shares of returned to the 1990 Stock Plan
after the date of Stockholder approval of the 1999 Stock Plan as a result of
termination of options under the 1990 Stock Plan. Upon Stockholder approval of
the 1999 Stock Plan, the 1990 Stock Plan was terminated with respect to new
option grants. This Post-Effective Amendment No. 2 registers for issuance under
the 1999 Stock Plan any shares previously registered for issuance under the 1990
Stock Plan which become available for issuance under the 1999 Stock Plan as a
result of termination of options granted under the 1990 Stock Plan.
PART II: INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INFORMATION INCORPORATED BY REFERENCE
In addition to the documents already incorporated by reference into the
Registration Statements, all documents filed by the Company pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Exchange Act, after the date of this
Prospectus and 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
Prospectus and to be part hereof from the date of filing such documents.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
The Company's Certificate of Incorporation limits the liability of
directors to the maximum extent permitted by Delaware law. Delaware law provides
that directors of a corporation will not be personally liable for monetary
damages for breach of their fiduciary duties as directors, except for liability
(i) for any breach of their duty of loyalty to the corporation or its
stockholders, (ii) for acts or omissions not in good faith or that involve
intentional misconduct or a knowing violation of law, (iii) for unlawful
payments of dividends or unlawful stock repurchases or redemptions as provided
in Section 174 of the Delaware General Corporation Law, or (iv) for any
transaction from which the director derived an improper personal benefit.
The Company's Bylaws provide that the Company shall indemnify its
directors and officers and may indemnify its employees and other agents to the
fullest extent permitted by law. The Company's Bylaws also permit the Company to
secure insurance on behalf of any officer, director, employee or other agent for
any liability arising out of his or her actions in such capacity, regardless of
whether the Company would have the power to indemnify him or her against such
liability under the General Corporation Law of Delaware. The Company currently
has secured such insurance on behalf of its officers and directors.
The Company has entered into agreements to indemnify its directors and
officers, in addition to indemnification provided for in the Company's Bylaws.
Subject to certain conditions, these agreements, among other things, indemnify
the Company's directors and officers for certain expenses (including attorney's
fees), judgments, fines and settlement amounts incurred by any such person in
any action or proceeding, including any action by or in the right of the
Company, arising out of such person's services as a director or officer of the
Company, any subsidiary of the Company or any other company or enterprise to
which the person provides services at the request of the Company.
ITEM 8. EXHIBITS
5.1 Opinion of Wilson Sonsini Goodrich & Rosati, Professional
Corporation
23.1 Consent of Independent Accountants
23.2 Consent of Wilson Sonsini Goodrich & Rosati (see Exhibit 5.1)
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 to include
any material information with respect to the plan of
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distribution not previously disclosed in this Registration Statement or any
material change to such information 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
Registrant'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 the Registrant pursuant to the Delaware General Corporations Law, the
Restated Articles of Incorporation of the Registrant, the Bylaws of the
Registrant, Indemnification Agreements entered into between the Registrant and
its officers and directors, or otherwise, the Registrant 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 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.
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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-3 and has duly caused this
Post-Effective Amendment No. 2 on Form S-8 to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Milpitas, State of
California, on the 22nd day of October, 1999.
ADAPTEC, INC.
By: /s/ Robert N. Stephens
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Robert N. Stephens
PRESIDENT, CHIEF EXECUTIVE OFFICER
AND DIRECTOR
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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.
NAME TITLE DATE
/s/ Robert N. Stephens President, Chief Executive Officer and October 22, 1999
- ------------------------------------------------- Director
Robert N. Stephens
/s/ Andrew J. Brown Vice President, Chief Financial Officer October 22, 1999
- ------------------------------------------------- and Assistant Secretary (Principal
Andrew J. Brown Financial Officer)
/s/ Kenneth B. Arola Vice President and Corporate Controller October 22, 1999
- ------------------------------------------------- (Principal Accounting Officer)
Kenneth B. Arola
/s/ John G. Adler Director October 22, 1999
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John G. Adler
Chairman of the Board and Director October __, 1999
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Laurence B. Boucher
/s/ Carl J. Conti Director October 23, 1999
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Carl J. Conti
Director October __, 1999
- -------------------------------------------------
John East
Director October __, 1999
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Ilene H. Lang
/s/ Robert J. Loarie Director October 29, 1999
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Robert J. Loarie
/s/ B. J. Moore Director October 24, 1999
- -------------------------------------------------
B. J. Moore
/s/ W. Ferrell Sanders Director October 23, 1999
- -------------------------------------------------
W. Ferrell Sanders
/s/ Phillip E. White Director October 22, 1999
- -------------------------------------------------
Phillip E. White
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