-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Kq/BOeM35EAYcz1UI+XuSjmacFBQfZ+6LfNjXzM0aSF1ldL0wCzR6R2tzS53r0fy tyB2Rc6o/C1phRzPxNESDw== 0000912057-01-001592.txt : 20010123 0000912057-01-001592.hdr.sgml : 20010123 ACCESSION NUMBER: 0000912057-01-001592 CONFORMED SUBMISSION TYPE: S-8 PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 20010116 EFFECTIVENESS DATE: 20010116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PEGASYSTEMS INC CENTRAL INDEX KEY: 0001013857 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] IRS NUMBER: 042787865 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: S-8 SEC ACT: SEC FILE NUMBER: 333-53746 FILM NUMBER: 1509431 BUSINESS ADDRESS: STREET 1: 101 MAIN ST CITY: CAMBRIDGE STATE: MA ZIP: 02142-1590 BUSINESS PHONE: 6173749600 MAIL ADDRESS: STREET 1: 101 MAIN ST CITY: CAMBRIDGE STATE: MA ZIP: 02142-1590 S-8 1 a2035093zs-8.txt S-8 As filed with the Securities and Exchange Commission on January 16, 2001 Registration No. 333-______ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ---------- FORM S-8 REGISTRATION STATEMENT Under THE SECURITIES ACT OF 1933 PEGASYSTEMS INC. (Exact name of registrant as specified in its charter) 04-2787865 (I.R.S. employer identification no.) MASSACHUSETTS (State or other jurisdiction of incorporation or organization) 101 MAIN STREET, CAMBRIDGE, MA, 02142 (Address of principal executive offices) (Zip Code) 1994 LONG-TERM INCENTIVE PLAN (Full title of the plans) ALAN TREFLER, CHIEF EXECUTIVE OFFICER PEGASYSTEMS INC. 101 MAIN STREET CAMBRIDGE, MA 02142 (Name and address of agent for service) (617) 374-9600 (Telephone number, including area code, of agent for service) CALCULATION OF REGISTRATION FEE
======================== ====================== ================== ===================== =========================== Proposed Proposed Title of securities Amount maximum maximum Amount to be to be registered offering aggregate of registered (1) price per offering registration share (2) price (2) fee - ------------------------ ---------------------- ------------------ --------------------- --------------------------- COMMON STOCK, 2,000,000 2.875 5,750,000 1,437.50 $.01 PAR VALUE ======================== ====================== ================== ===================== ===========================
(1) Plus such additional number of shares as may be required pursuant to the plans in the event of a stock dividend, split-up of shares, recapitalization or other similar change in the Common Stock. (2) Estimated solely for the purpose of calculating the registration fee, in accordance with Rule 457(h)(1), on the basis of the average of the high and low prices of the Common Stock as reported on the Nasdaq National Market System on January 10, 2001. EXPLANATORY NOTE This Registration Statement has been prepared in accordance with the requirements of Form S-8, as amended, and relates to 2,000,000 shares of Common Stock, $.01 par value per share, of Pegasystems Inc. (the "Company"), which represent an increase in the number of shares issuable under the Company's 1994 Long-Term Incentive Plan (the "Plan") approved by the Board of Directors of the Company on August 7, 2000 and approved by the stockholders of the Company on June 29, 2000. The Company previously filed with the Securities and Exchange Commission on July 31, 1996 a Registration Statement on Form S-8 (File No. 333-09305), covering an aggregate of 5,750,000 shares of the Company's Common Stock, including 5,000,000 shares reserved for issuance under the Plan, and on October 26, 1999 a Registration Statement on Form S-8 (File No. 333-89707), covering an additional 4,500,000 reserved for issuance under the Plan. PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT ITEM 3. INCORPORATION BY REFERENCE. The following documents are hereby incorporated by reference in this Registration Statement: (a) The Company's Annual Report on Form 10-K/A for the year ended December 31, 1999, filed on April 28, 2000; (b) The Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2000, filed May 15, 2000; (c) The Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2000, filed August 14, 2000; (d) The Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2000, filed November 14, 2000; (e) The Company's Current Report on Form 8-K dated April 27, 2000; and (f) The description of the Company's Common Stock incorporated by reference into the Company's registration statement on Form 8-A filed with the Commission on June 21, 1996 from the Company's Registration Statement on Form S-1 initially filed with the Commission on May 15, 1996. In addition, all documents filed by the Company after the initial filing date of this Registration Statement pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and prior to the filing of a post-effective amendment which indicates that all shares registered hereunder have been sold or which de-registers all shares then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents. ITEM 4. DESCRIPTION OF SECURITIES Not applicable. ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL The legality of the shares of Common Stock offered hereby has been passed upon for the Company by Choate, Hall & Stewart, 53 State Street, Exchange Place, Boston, Massachusetts 02109. II-3 ITEM 6. INDEMNIFICATION OF OFFICERS AND DIRECTORS Section 67 of Chapter 156B of the Massachusetts General Laws provides that a corporation may indemnify its directors and officers to the extent specified in or authorized by (i) the articles of organization, (ii) a by-law adopted by the stockholders, or (iii) a vote adopted by the holders of a majority of the shares of stock entitled to vote on the election of directors. In all instances, the extent to which a corporation provides indemnification to its directors and officers under Section 67 is optional. In its Restated Articles of Organization, the Company has elected to commit to provide indemnification to its directors and officers in specified circumstances. Generally, the Restated Articles of Organization provide that the Company shall indemnify directors and officers of the Company against liabilities and expenses arising out of legal proceedings brought against them by reason of their status as directors or officers or by reason of their agreeing to serve, at the request of the Company, as a director or officer with another organization. Under this provision, a director or officer of the Company shall be indemnified by the Company for all costs and expenses (including attorneys' fees), judgments, liabilities and amounts paid in settlement of such proceedings, even if he is not successful on the merits, if he acted in good faith in the reasonable belief that his action was in the best interests of the Company. The Board of Directors may authorize advancing litigation expenses to a director or officer at his request upon receipt of an undertaking by any such director or officer to repay such expenses if it is ultimately determined that he is not entitled to indemnification for such expenses. Article VI of the Company's Restated Articles of Organization eliminates the personal liability of the Company's directors to the Company or its stockholders for monetary damages for breach of a director's fiduciary duty, except for liability (i) for any breach of a director's duty of loyalty to the Company or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of laws, (iii) for authorization of illegal dividends or redemptions, or (iv) for any transaction in which a director derived an improper personal benefit. The Company maintains directors and officers liability insurance for the benefit of its directors and certain of its officers. ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED. Not applicable. ITEM 8. EXHIBITS. 5.1 Opinion of Choate, Hall & Stewart as to the legality of the shares being registered. 23.1 Consent of Arthur Andersen LLP. 23.2 Consent of Deloitte & Touche LLP. 23.3 Consent of Choate, Hall & Stewart (included in Exhibit 5.1). 24.1 Power of Attorney (included in page II-5). 99.1* The Company's 1994 Long-Term Incentive Plan (as amended and restated on May 9, 2000). - ----------------------------------------------------------------------------- *Incorporated by reference to the Company's proxy statement on Schedule 14A (SEC File No. 001-11859) filed with the Commission on June 14, 2000. II-4 ITEM 9. UNDERTAKINGS (a) The Company 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 of 1933, as amended (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; and (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 Company hereby undertakes that, for purpose of determining any liability under the Securities Act, each filing of the Company's annual report pursuant to Section 13(a) or 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 Company pursuant to the foregoing provisions, or otherwise, the Company 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 Company of expenses incurred or paid by a director, officer or controlling person of the Company 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 Company will, unless in the opinion of 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. II-5 SIGNATURES Pursuant to the requirements of the Securities Act of 1933, the Company 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 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Cambridge, The Commonwealth of Massachusetts, on January 12, 2001. PEGASYSTEMS INC. (Registrant) By: /s/ Alan Trefler ------------------------- Alan Trefler Chief Executive Officer POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that each individual whose signature appears below constitutes and appoints Alan Trefler, June Morris, Jim O'Halloran and Robert V. Jahrling, jointly and severally, his true and lawful attorneys-in-fact and agents with full powers of substitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and all documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue thereof. Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below on January 12, 2001 by the following persons in the capacities indicated. NAME CAPACITY /s/ Alan Trefler Chief Executive Officer, Chairman and Director - ------------------------ (PRINCIPAL EXECUTIVE OFFICER) Alan Trefler /s/ Jim O'Halloran Chief Financial Officer and Director - ------------------------ (PRINCIPAL FINANCIAL AND ACCOUNTING OFFICER) Jim O'Halloran /s/ Steve Kaplan Director - ------------------------ Steve Kaplan /s/ William H. Keough Director - ------------------------ William H. Keough /s/ Edward A. Maybury Director - ------------------------ Edward A. Maybury /s/ Edward B. Roberts Director - ------------------------ Edward B. Roberts /s/ William W. Wyman Director - ------------------------ William W. Wyman /s/ Alexander d'Arbeloff Director - ------------------------ Alexander d'Arbeloff /s/ Richard Jones Director - ------------------------ Richard Jones II-6 EX-5.1 2 a2035093zex-5_1.txt EXHIBIT 5.1 EXHIBIT 5.1 CHOATE, HALL & STEWART A PARTNERSHIP INCLUDING PROFESSIONAL CORPORATIONS EXCHANGE PLACE 53 STATE STREET BOSTON, MASSACHUSETTS 02109 TELEPHONE (617) 248-5000 FACSIMILE (617) 248-4000 TELEX 49615860 January 16, 2001 Pegasystems Inc. 101 Main Street Cambridge, MA 02142 Gentlemen: This opinion is delivered to you in connection with the registration statement on Form S-8 (the "Registration Statement") to be filed on January 16, 2001 by Pegasystems Inc. (the "Company") under the Securities Act of 1933, as amended, for registration under said Act of 2,000,000 shares (the "Additional Shares") of common stock, $.01 par value (the "Common Stock"), of the Company. We are familiar with the Company's Restated Articles of Organization, its Restated By-Laws, and its corporate minute book, as well as the Registration Statement. We have also examined such other documents, records and certificates and made such further investigation as we have deemed necessary for the purposes of this opinion. Based upon and subject to the foregoing, we are of the opinion that the Additional Shares to be sold by the Company under its Amended and Restated 1994 Long-Term Incentive Plan, as in effect on the date hereof, when issued against receipt of the agreed purchase price therefor, will be legally issued, fully paid and nonassessable. We understand that this opinion is to be used in connection with the Registration Statement and consent to the filing of this opinion as an exhibit to the Registration Statement and to all references to this Firm included therein. Very truly yours, /s/ CHOATE, HALL & STEWART CHOATE, HALL & STEWART EX-23.1 3 a2035093zex-23_1.txt EXHIBIT 23.1 [ARTHUR ANDERSEN LOGO] Exhibit 23.1 CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS As independent public accountants, we hereby consent to the incorporation by reference included in this Registration Statement on Form S-8 of our report dated March 27, 2000 (except with respect to the matter discussed in Note 13, as to which the date is April 27, 2000) included in Pegasystems, Inc. Form 10-K/A for the year ended December 31, 1999. /s/ Arthur Andersen LLP Boston, Massachusetts January 10, 2001 EX-23.2 4 a2035093zex-23_2.txt EXHIBIT 23.2 EXHIBIT 23.2 January 10, 2001 Arthur Andersen LLP 225 Franklin Street Boston, MA 02110 Ladies and Gentlemen: With respect to the consent to the incorporation by reference of your opinion on the consolidated financial statements of Pegasystems Inc. for the year ended December 31, 1999, in a Registration Statement on Form S-8 that Pegasystems Inc. expects to file on or about January 10, 2001, with the Securities and Exchange Commission under the Securities Act of 1933, we advise you as follows: We have reviewed the unaudited interim financial information of Pegasystems Inc. as of and for the nine-month period ended September 30, 2000. Our review was conducted in accordance with standards established by the American Institute of Certified Public Accountants. We further advise you that we have obtained knowledge of the accounting and financial reporting practices of Pegasystems Inc. and its system of internal accounting control as contemplated by Statement on Auditing Standards No. 71. As a result of performing our review, nothing came to our attention that, in our opinion, would have a material effect on, or require disclosure in, the financial statements of Pegasystems Inc. covered by your opinion. However, we have not audited the financial statements of Pegasystems Inc. as of any date or for any period. If anything comes to our attention before the effective date of the Registration Statement that, in our judgment, could have a material effect on the consolidated financial statements of Pegasystems Inc. audited by you, we will notify you promptly. Yours truly, /s/ Deloitte & Touche LLP Deloitte & Touche LLP -----END PRIVACY-ENHANCED MESSAGE-----