0001104659-21-094034.txt : 20210720 0001104659-21-094034.hdr.sgml : 20210720 20210720171608 ACCESSION NUMBER: 0001104659-21-094034 CONFORMED SUBMISSION TYPE: 425 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20210720 DATE AS OF CHANGE: 20210720 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: QAD INC CENTRAL INDEX KEY: 0001036188 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 770105228 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 425 SEC ACT: 1934 Act SEC FILE NUMBER: 001-35013 FILM NUMBER: 211101894 BUSINESS ADDRESS: STREET 1: 100 INNOVATION PLACE CITY: SANTA BARBARA STATE: CA ZIP: 93108 BUSINESS PHONE: 8055666000 MAIL ADDRESS: STREET 1: 100 INNOVATION PLACE CITY: SANTA BARBARA STATE: CA ZIP: 93108 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: QAD INC CENTRAL INDEX KEY: 0001036188 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 770105228 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 425 BUSINESS ADDRESS: STREET 1: 100 INNOVATION PLACE CITY: SANTA BARBARA STATE: CA ZIP: 93108 BUSINESS PHONE: 8055666000 MAIL ADDRESS: STREET 1: 100 INNOVATION PLACE CITY: SANTA BARBARA STATE: CA ZIP: 93108 425 1 tm2122038d2_425.htm 425

 

Filed by: QAD Inc.

Pursuant to Rule 425

under the Securities Act of 1933, as amended

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934, as amended

 

Subject Company: QAD Inc.

Commission File No. 001- 35013

Date: July 20, 2021

 

On July 20, 2021, QAD Inc. made available the following communication to its employees:

 

Dear Employee:

 

As you know, given the timing of the signing of the agreement to be acquired by TB we were not able to roll out our annual equity grants.

 

For those employees who would have received grants this year, a cash bonus will be payable 12 months after the transaction close at an equivalent value (at $87.50 per share) to the first tranche of the planned equity grant they were scheduled to receive.

 

In addition, following the transaction close, those employees who would have received grants this year, will be eligible for participation in a new equity plan.