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): December 2, 2005
AMIS HOLDINGS, INC.
(Exact Name of Registrant as Specified in Its Charter)
DELAWARE 000-50397 51-0309588
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2300 BUCKSKIN ROAD, POCATELLO, IDAHO 83201
(Address of Principal Executive Offices) (Zip Code)
(208) 233-4690
(Registrant's Telephone Number, Including Area Code)
N/A
(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 7.01 REGULATION FD DISCLOSURE
mber 2, 2005, the Board of Directors of AMIS Holdings, Inc. ("AMIS")
accelerated the vesting of certain unvested and "out-of-the-money" stock options
previously awarded to employees and officers that have exercise prices per share
of $13.00 or higher. As a result, options to purchase approximately 1.9 million
shares of AMIS stock became immediately vested and exercisable.
Options held by non-employee directors are excluded from this vesting
acceleration. In addition, in order to prevent unintended personal benefits to
executive officers, restrictions will be imposed on any shares received through
the exercise of accelerated options held by those individuals. Those
restrictions will prevent the sale of any shares received from the exercise of
an accelerated option prior to the earlier of the original vesting date of the
option or the individual's termination of employment.
The following tables summarize the effects of this acceleration of vesting on
the company's executive officers:
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Options Accelerated
Chris King Grant Date Price Granted Unvested Options
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9/22/2003 $20.00 232,933 106,761
10/1/2004 $14.13 232,933 164,994
10/27/2004 $14.89 50,000 36,459
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Total 515,866 308,214
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Options Accelerated
David Henry Grant Date Price Granted Unvested Options
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4/26/2004 $16.23 150,000 90,625
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Total 150,000 90,625
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Options Accelerated
Jon Stoner Grant Date Price Granted Unvested Options
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8/3/2004 $14.28 35,000 24,063
8/9/2004 $13.19 15,000 10,313
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Total 50,000 34,376
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Options Accelerated
Charlie Lesko Grant Date Price Granted Unvested Options
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8/3/2004 $14.28 50,000 34,375
--------------------------------
Total 50,000 34,375
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The accelerated options have exercise prices per share ranging from $13.00 to
$20.00, with a weighted average exercise price per share of $15.18, and
represent approximately 24 percent of the total of all outstanding AMIS stock
options. Based on the closing price of $10.13 for shares of AMIS common stock on
the NASDAQ National Market on December 2, 2005, the date of the Board of
Directors' approval, the accelerated options had no incentive or economic value
at the time of acceleration.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Press release dated December 7, 2005
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.
AMIS HOLDINGS, INC.
Date: December 7, 2005 By: /s/ David Henry
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Name: David Henry
Title: Senior Vice President
and Chief Financial Officer