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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
AMENDMENT NO. 1 TO FORM 10-K
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 [FEE REQUIRED]
For the Year Ended March 31, 1996
COMMISSION FILE NO. 0-19672
AMERICAN SUPERCONDUCTOR CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 04-2959321
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(State or other jurisdiction of (I.R.S. Employer Identification Number)
incorporation or organization)
Two Technology Drive, Westborough, Massachusetts 01581
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (508) 836-4200
Securities registered pursuant to Section 12(b) of the Act:
None
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Securities registered pursuant to Section 12(g) of the Act:
Common Stock, $.01 par value
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes X No
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Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of Registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [ ]
On April 30, 1996, the aggregate market value of voting Common Stock held
by nonaffiliates of the registrant was $125,214,587.50, based on the closing
price of the Common Stock on the Nasdaq National Market on April 30, 1996.
Number of shares of Common Stock outstanding as of June 21, 1996 was
9,558,457.
Documents Incorporated By Reference
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Document Form 10-K Part
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Definitive Proxy Statement with Part III
respect to the Annual Meeting of
Stockholders for the fiscal year
ended March 31, 1996, to be filed
with the Securities and Exchange
Commission by July 29, 1996
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PART IV
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K.
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Item 14(c) to the Registrant's Annual Report on Form 10-K for the fiscal
year ended March 31, 1996 is hereby amended and restated in its entirety as set
forth below.
(a) The following documents are filed as APPENDIX B hereto and are
included as part of this Annual Report on Form 10-K.
Financial Statements:
Report of Independent Accountants
Consolidated Balance Sheets
Consolidated Statements of Operations
Consolidated Statements of Cash Flows
Consolidated Statements of Changes in Stockholders' Equity
Notes to Consolidated Financial Statements
(b) The Company is not filing any financial statement schedules as part of
this Annual Report on Form 10-K because they are not applicable or the
required information is included in the financial statements or notes
thereto.
(c) The list of Exhibits filed as a part of this Annual Report on Form
10-K are set forth on the Exhibit Index immediately preceding such
Exhibits, and is incorporated herein by reference.
(d) Reports on Form 8-K.
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No reports on Form 8-K were filed during the last quarter of the Company's
fiscal year ended March 31, 1996.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this Form 10-K/A amending
its annual report on Form 10-K for the fiscal year ended March 31, 1996 to be
signed on its behalf by the undersigned, thereunto duly authorized.
AMERICAN SUPERCONDUCTOR CORPORATION
By: /s/ Ramesh L. Ratan
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Ramesh L. Ratan,
Executive Vice President,
Corporate Development,
Chief Financial Officer and Secretary
Date: March 7, 1997
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EXHIBIT INDEX
Exhibit No. Description Page No.
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3.1** -Restated Certificate of Incorporation of the
Registrant....................................................................
3.2* -By-laws of the Registrant, as amended to date..................................
4.1* -Specimen Certificate for shares of Common Stock,
$.01 par value, of the Registrant.............................................
$$10.1* -1987 Stock Plan................................................................
$$10.2* -1991 Director Stock Option Plan................................................
$$10.3* -Employment Agreement dated as of December 4, 1991
between the Registrant and Gregory J. Yurek...................................
$$10.4* -Employment Agreement dated as of December 4, 1991
between the Registrant and Alexis P. Malozemoff...............................
10.5* -Form of Employee Nondisclosure and
Developments Agreement........................................................
$$10.6* -Employee Nondisclosure and Developments Agreement
dated as of December 26, 1990 between
the Registrant and Alexis P. Malozemoff.......................................
$$10.7* -Noncompetition Agreement dated as of July 10,
1987 between the Registrant and John Vander
Sande.........................................................................
$10.8* -License Agreement between the Registrant and
MIT dated as of July 6, 1987..................................................
$10.9* -License Agreement between the Registrant and
MIT dated as of January 31, 1989..............................................
$10.10* -License Agreement dated as of August 1, 1991...................................
$10.11* -License Agreement dated as of September 1, 1991................................
$10.12** -Second Amendment dated as of January 27, 1992 between
the Registrant and MIT amending the License Agreement
dated as of July 6, 1987 between
the Registrant and MIT........................................................
$10.13*** -Technology Development and Patent Licensing
Agreement dated October 7, 1992 among the
Registrant and Electricity Corporation of
New Zealand Limited and Industrial Research
Limited.......................................................................
$$10.14*** -Employment Agreement dated as of December 31,
1992 between American Superconductor
Europe GmbH and Dr. Gero Papst................................................
10.15*** -Lease dated March 9, 1993 between CGLIC on
Behalf of its Separate Account R, as Landlord,
and the Registrant............................................................
10.16+ -First Amendment to Lease between CGLIC, on Behalf of its
Separate Account R, as Landlord, and the Registrant, as
Tenant dated October 27, 1993.................................................
$$10.17*** -1993 Stock Option Plan.........................................................
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$10.18**** -Contract between the Registrant and the Naval Research
Laboratory dated as of July 27, 1993..........................................
10.19++ -Agreement dated January 1, 1994 between Pirelli Cavi S.p.A.
and the Registrant............................................................
$$$10.20 -Agreement between Pirelli Cavi S.p.A. and American Superconductor
Corporation, dated October 1, 1995
$10.21++ -Technology Development and Patent Licensing Agreement, First
Amendment dated August 7, 1993 among the Registrant and
Electricity Corporation of New Zealand and Industrial
Research Limited..............................................................
$10.22* -Research and Development Agreement dated May 25, 1990 between
Inco Alloys International, Inc. ("Inco") and the Registrant
(the "Inco Agreement")........................................................
10.23*** -Letter Agreement relating to the extension of the Inco
Agreement dated as of May 11, 1993 between Inco and the
Registrant....................................................................
$$$10.24 -Research and Development Agreement between Inco Alloys
International and American Superconductor Corporation, dated January 1,
1996
$10.25+++ -Amendment to Research and Development Agreement dated as of
March 1, 1994 by and between the Registrant and Inco
10.26+++ -Subcontract Agreement effective as of September 30, 1993 by
and between the Registrant and Reliance Electric Company
$10.27# -Fourth Amendment, dated May 15, 1995, to the Exclusive
License Agreement between the Registrant and MIT dated
July 6, 1987
$$10.28# -1994 Director Stock Option Plan
$$10.29## -1996 Stock Incentive Plan
$$$10.30 -Management Agreement between Electric Power Research Institute, Inc. and
American Superconductor Corporation, effective January 1, 1996
$$$10.31 -Technology License Agreement between Electric Power Research Institute,
Inc. and American Superconductor Corporation, effective January 1, 1996
$$$10.32 Warrant granted to Electric Power Research Institute, Inc. by American
Superconductor Corporation, dated March 26, 1996.
$$10.33## -Consulting Agreement dated as of January 1, 1996 between the Registrant
and John Vander Sande
$$10.34## Consulting Agreement dated as of May 1, 1996 between the Registrant and
Frank Borman.
$$10.35## Consulting Agreement dated as of October 1, 1995 between the Registrant
and Richard Drouin.
21.1*** -Subsidiaries
23.1 -Consent of Coopers & Lybrand L.L.P.
<FN>
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* Incorporated by reference to Exhibits to the Registrant's Registration Statement
on Form S-1 (File No. 33-43647).
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** Incorporated by reference to Exhibits to the Registrant's Annual Report
on Form 10-K filed with the Commission on June 29, 1992.
*** Incorporated by reference to Exhibits to the Registrant's Annual Report
on Form 10-K filed with the Commission on June 29, 1993.
**** Incorporated by reference to Exhibits to the Registrant's Quarterly
Report on Form 10-Q for the quarter ended June 30, 1993 filed with the
Commission on August 16, 1993.
+ Incorporated by reference to Exhibits to the Registrant's Quarterly
Report on Form 10-Q for the quarter ended December 31, 1993 filed with
the Commission on January 26, 1994.
++ Incorporated by reference to Exhibits to Amendment No. 1 to the
Registrant's Quarterly Report on Form 10-Q/A for the quarter ended
December 31, 1993 filed with the Commission on March 28, 1994.
+++ Incorporated by reference to Exhibits to the Registrant's Annual Report
on Form 10-K filed with the Commission on June 29, 1994.
# Incorporated by reference to Exhibits to the Registrant's Annual Report
on Form 10-K filed with the Commission on June 29, 1995.
## Incorporated by reference to Exhibits to the Registrant's Annual Report
on Form 10-K filed with the Commission on June 28, 1996.
$ Confidential treatment previously requested and granted with respect to
certain portions, which portions were omitted and filed separately with
the Commission.
$$ Management contract or compensatory plan or arrangement required to be
filed as an Exhibit to this Form 10-K.
$$$ Confidential treatment requested as to certain portions, which portions
were omitted and filed separately with the Commission with this Annual
Report on Form 10-K.
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