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 26, 2001
Pinnacle Systems, Inc.
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(Exact Name Of Registrant As Specified In Its Charter)
California
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(State or Other Jurisdiction of Incorporation)
0-24784 94-3003809
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(Commission File Number) (I.R.S. Employer Identification No.)
280 North Bernardo Ave., Mountain View, CA. 94043
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(Address of Principal Executive Offices) (Zip Code)
(650) 237-1600
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(Registrant's Telephone Number, Including Area Code)
N/A
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(Former Name or Former Address, if Changed Since Last Report)
ITEM 5. Other Events
On April 26, 2001, Pinnacle Systems, Inc. ("Pinnacle Systems") issued a
press release announcing financial results for the third quarter of fiscal 2001,
which ended on March 31, 2001. The press release is attached as Exhibit 99.1 to
this Form 8-K.
On April 26, 2001, Pinnacle Systems announced the issuance on April 6,
2001 of an aggregate of 2,315,218 shares (the "Shares") of common stock to the
former shareholders of Montage Group, Ltd. ("Montage") pursuant to the earnout
provisions of the Stock Acquisition Agreement dated April 6, 2000 by and among
Pinnacle Systems, Montage and David Engelke, Seth M. Haberman and Simon V.
Haberman (collectively, the "Shareholders"). The Shares were issued in
accordance with Pinnacle Systems' election to buyout in their entirety the
earnout payments otherwise payable to the Shareholders for the twelve month
earnout periods ending on each of April 5, 2001 and April 5, 2002.
ITEM 7. EXHIBITS
Item No. Description
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99.1 Press Release dated April 26, 2001 -- Pinnacle Systems
Reports Financial Results for the Third Quarter of Fiscal
2001.
SIGNATURE
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.
Dated: April 26, 2001 PINNACLE SYSTEMS, INC.
By: /s/ Mark L. Sanders
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Mark L. Sanders, President and Chief
Executive Officer
By: /s/ Arthur D. Chadwick
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Arthur D. Chadwick, Vice President,
Finance and Administration and
Chief Executive Officer