SC TO-I 1 jivesoftware_schedule-todo.htm SCHEDULE TO-I JIVE SOFTWARE 2016 Document


SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE TO
(Rule 13e-4)
Tender Offer Statement Under Section 14(d)(1) or 13(e)(1)
of the Securities Exchange Act of 1934
 
JIVE SOFTWARE, INC.
(Name of Subject Company (Issuer) and Filing Person (Offeror))

Options to Purchase Common Stock, $0.0001 par value

(Title of Class of Securities)

47760A108

(CUSIP Number of Class of Securities’ Underlying Common Stock)

Elisa Steele
Chief Executive Officer
Jive Software, Inc.
325 Lytton Avenue
Palo Alto, California 94301
(650) 319-1920
(Name, address and telephone numbers of person authorized to receive notices and communications on behalf of filing persons)
 
Copies to:
Jeffrey D. Saper, Esq.
Robert G. Day, Esq.
Wilson Sonsini Goodrich & Rosati, P.C.
650 Page Mill Road
Palo Alto, CA 94304
(650) 493-9300
Lisa Jurinka, Esq.
General Counsel
Jive Software, Inc.
325 Lytton Avenue, Suite 200
Palo Alto, California 94301
(650) 319-1920

 



CALCULATION OF FILING FEE
Transaction Valuation*
 
Amount of Filing Fee
$613,162.07
 
$61.75

 
* Calculated solely for purposes of determining the filing fee. This amount assumes that options to purchase 741,372 shares of Common Stock of Jive Software, Inc. having an aggregate value of $613,162.07 as of August 2, 2016 will be exchanged or canceled pursuant to this offer. The aggregate value of such securities was calculated based on the Black-Scholes option pricing model. The amount of the filing fee, calculated in accordance with the Securities Exchange Act of 1934, as amended, equals $100.70 for each $1,000,000 of the value of this transaction.
Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

Amount Previously Paid: Not applicable.
 
Filing Party: Not applicable.
Form or Registration No.: Not applicable.
 
Date Filed: Not applicable.

Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

Check the appropriate boxes below to designate any transactions to which the statement relates:
 
third-party tender offer subject to Rule 14d-1.
 
issuer tender offer subject to Rule 13e-4.
 
going-private transaction subject to Rule 13e-3.
 
amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer:☐


 



This Tender Offer Statement on Schedule TO relates to an offer by Jive Software, Inc., a Delaware corporation (“Jive” or the “Company”), to exchange (the “Exchange Offer”) certain outstanding options (the “Eligible Options”) to purchase shares of the Company’s common stock, whether vested or unvested, that (i) have an exercise price greater than $6.58 per share, (ii) were granted under the Company’s 2007 Stock Incentive Plan or the Company’s 2011 Equity Incentive Plan and remain outstanding and unexercised as of the expiration of the Exchange Offer, and (iii) are held by Eligible Employees (as defined below) who are providing services to Jive and its subsidiaries (the “Jive Group”), except as otherwise described in the Offer to Exchange.

An “Eligible Employee” is an employee of the Jive Group as of the start of the Exchange Offer and who remains an employee of the Jive Group through the expiration of the Exchange Offer and the grant date of the new restricted stock units (“RSUs”). Our named executive officers and the members of our board of directors are not Eligible Employees and may not participate in the Exchange Offer.

These Eligible Options may be exchanged for a lesser number of RSUs upon the terms and subject to the conditions set forth in (i) the Offer to Exchange Certain Outstanding Options for Restricted Stock Units, dated August 5, 2016 (the “Offer to Exchange”), attached hereto as Exhibit (a)(1)(A), (ii) the Launch Announcement, attached hereto as Exhibit (a)(1)(B), and (iii) the Election Form, attached hereto as Exhibit (a)(1)(C). The following disclosure materials were also made available to Eligible Participants: (i) the Form of Confirmation E-mail, attached hereto as Exhibit (a)(1)(D), (ii) the Form of Reminder E-mail, attached hereto as Exhibit (a)(1)(E), (iii) the Form of Expiration Notice, attached hereto as Exhibit (a)(1)(F), (iv) the Screenshots from Offer Website, attached hereto as Exhibit (a)(1)(G), (v) the Employee Presentation, attached hereto as Exhibit (a)(1)(H), and (vi) the Employee FAQs, attached hereto as Exhibit (a)(1)(I).These documents, as they may be amended or supplemented from time to time, together constitute the “Disclosure Documents.”

The information in the Disclosure Documents, including all schedules and exhibits to the Disclosure Documents, is incorporated herein by reference to answer the items required in this Schedule TO.

Item 1. Summary Term Sheet.

The information set forth under the caption “Summary Term Sheet and Questions and Answers” in the Offer to Exchange is incorporated herein by reference.

Item 2. Subject Company Information.
 
(a) Name and Address.
Jive is the issuer of the securities subject to the Exchange Offer. The address of the Company’s principal executive office is 325 Lytton Avenue, Suite 200, Palo Alto, California 94301, and the telephone number at that address is (650) 319-1920. The information set forth in the Offer to Exchange under the caption “The Offer” titled “10. Information concerning Jive” is incorporated herein by reference.

(b) Securities.
The subject class of securities consists of the Eligible Options. The actual number of shares of common stock subject to the RSUs to be issued in the Exchange Offer will depend on (i) the number of shares of common stock subject to the unexercised options tendered by Eligible Participant and accepted for exchange and canceled, and (ii) the exchange ratio applied to the tendered Eligible Options. The information set forth in the Offer to Exchange under the captions “Summary Term Sheet and Questions and Answers,” “Risks of Participating in the Offer,” and the sections under the caption “The Offer” titled “2.

 



Number of RSUs; expiration date,” “6. Acceptance of options for exchange and issuance of RSUs,” and “9. Source and amount of consideration; terms of RSUs” is incorporated herein by reference.

(c) Trading Market and Price.
The information set forth in the Offer to Exchange under the caption “The Offer” titled “8. Price range of shares underlying the options” is incorporated herein by reference.

Item 3. Identity and Background of Filing Person.

(a) Name and Address.
The filing person is the issuer. The information set forth under Item 2(a) above is incorporated by reference. Pursuant to General Instruction C to Schedule TO, the information set forth on Schedule A to the Offer to Exchange is incorporated herein by reference.

Item 4. Terms of the Transaction.

(a) Material Terms.
The information set forth in the section of the Offer to Exchange under the caption “Summary Term Sheet and Questions and Answers” and the sections under the caption “The Offer” titled “1. Eligibility,” “2. Number of RSUs; expiration date,” “3. Purposes of the offer,” “4. Procedures for electing to exchange options,” “5. Withdrawal rights and change of election,” “6. Acceptance of options for exchange and issuance of RSUs,” “7. Conditions of the offer,” “8. Price range of shares underlying the options,” “9. Source and amount of consideration; terms of RSUs,” “12. Status of options acquired by us in the offer; accounting consequences of the offer,” “13. Legal matters; regulatory approvals,” “14. Material income tax consequences,” “15. Extension of offer; termination; amendment” and Schedule B attached to the Offer to Exchange is incorporated herein by reference.

(b) Purchases.
The information set forth in the section of the Offer to Exchange under the caption “The Offer” titled “11. Interests of directors and executive officers; transactions and arrangements concerning the options” is incorporated herein by reference.

Item 5. Past Contacts, Transactions, Negotiations and Arrangements.

(e) Agreements Involving the Subject Company’s Securities.
The information set forth in the section of the Offer to Exchange under the caption “The Offer” titled “11. Interests of directors and executive officers; transactions and arrangements concerning the options” is incorporated herein by reference.

Item 6. Purposes of the Transaction and Plans or Proposals.

(a) Purposes.
The information set forth in the section of the Offer to Exchange under the caption “Summary Term Sheet and Questions and Answers” and the section under the caption “The Offer” titled “3. Purposes of the offer” is incorporated herein by reference.





 



(b) Use of Securities Acquired.
The information set forth in the sections of the Offer to Exchange under the caption “The Offer” titled “6. Acceptance of options for exchange and issuance of RSUs” and “12. Status of options acquired by us in the offer; accounting consequences of the offer” is incorporated herein by reference.

(c) Plans.
The information set forth in the section of the Offer to Exchange under the caption “The Offer” titled “3. Purposes of the offer” is incorporated herein by reference.

Item 7. Source and Amount of Funds or Other Consideration.

(a) Source of Funds.
The information set forth in the section of the Offer to Exchange under the caption “The Offer” titled “9. Source and amount of consideration; terms of RSUs” is incorporated herein by reference.

(b) Conditions.
The information set forth in the section of the Offer to Exchange under the caption “The Offer” titled “7. Conditions of the offer” is incorporated herein by reference.

(d) Borrowed Funds.
Not applicable.

Item 8. Interest in Securities of the Subject Company.

(a) Securities Ownership.
The information set forth in the section of the Offer to Exchange under the caption “The Offer” titled “11. Interests of directors and executive officers; transactions and arrangements concerning the options” is incorporated herein by reference.

(b) Securities Transactions.
The information set forth in the section of the Offer to Exchange under the caption “The Offer” titled “11. Interests of directors and executive officers; transactions and arrangements concerning the options” is incorporated herein by reference.

Item 9. Person/Assets, Retained, Employed, Compensated or Used.

(a) Solicitations or Recommendations.
Not applicable.

Item 10. Financial Statements.

(a) Financial Information.
The information set forth in Schedule B to the Offer to Exchange and in the sections of the Offer to Exchange under the caption “The Offer” titled “10. Information concerning Jive,” “17. Additional information” and “18. Financial information” is incorporated herein by reference. The Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q can also be accessed electronically on the Securities and Exchange Commission’s website at http://www.sec.gov.

(b) Pro Forma Information.
Not applicable.

 




Item 11. Additional Information.

(a) Agreements, Regulatory Requirements and Legal Proceedings.
The information set forth in the sections of the Offer to Exchange under the caption “The Offer” titled “11. Interests of directors and executive officers; transactions and arrangements concerning the options” and “13. Legal matters; regulatory approvals” is incorporated herein by reference.

(c) Other Material Information.
Not applicable.

Item 12. Exhibits.
99(a)(1)(A)
 
Offer to Exchange Certain Outstanding Options for Restricted Stock Units, dated August 5, 2016.
99(a)(1)(B)
 
Launch Email.
99(a)(1)(C)
 
Election Form.
99(a)(1)(D)
 
Form of Confirmation E-mail.
99(a)(1)(E)
 
Form of Reminder E-mail.
99(a)(1)(F)
 
Form of Expiration Notice.
99(a)(1)(G)
 
Screenshots from Offer Website.
99(a)(1)(H)
 
Employee Presentation.
99(a)(1)(I)
 
Employee FAQS.
99(b)
 
Not applicable.
99(d)(1)
 
Jive Software, Inc. 2007 Stock Incentive Plan, as amended, and Form of Stock Option Agreement under 2007 Stock Incentive Plan incorporated herein by reference from Exhibit 10.1 to the Company’s Form S-1 file number 333-176483 as declared effective by the Securities and Exchange Commission on December 12, 2011.
99(d)(2)
 
Jive Software, Inc. 2011 Equity Incentive Plan and form of Stock Option Agreement under 2011 Equity Incentive Plan, incorporated herein by reference from Exhibit 10.3 to the Company’s Form S-1 file number 333-176483 as declared effective by the Securities and Exchange Commission on December 12, 2011.
99(d)(3)
 
Form of Restricted Stock Unit Agreement pursuant to the 2011 Equity Incentive Plan.
99(g)
 
Not applicable.
99(h)
 
Not applicable.

Item 13. Information Required by Schedule 13E-3.
 (a) Not applicable.


 



SIGNATURE

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Schedule TO is true, complete and correct.
 
 
 
 
 
JIVE SOFTWARE, INC.
 
/s/ Elisa Steele
 
Elisa Steele
 
Chief Executive Officer and Director
 
 
 
Date: August 5, 2016