-----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, DAJV0dTw7TuPtt1nt1+/6e1Z+t/VwxBIW5ypW+Kcf957SZk7kHfBreUllWvpMKtt cR5eabQOOt8YqODLORXzHw== 0000891618-98-004585.txt : 19981027 0000891618-98-004585.hdr.sgml : 19981027 ACCESSION NUMBER: 0000891618-98-004585 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19981019 ITEM INFORMATION: FILED AS OF DATE: 19981026 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADAPTEC INC CENTRAL INDEX KEY: 0000709804 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576] IRS NUMBER: 942748530 STATE OF INCORPORATION: CA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-15071 FILM NUMBER: 98730691 BUSINESS ADDRESS: STREET 1: 691 S MILPITAS BLVD STREET 2: M/S25 CITY: MILPITAS STATE: CA ZIP: 95035 BUSINESS PHONE: 4089458600 MAIL ADDRESS: STREET 1: 691 SOUTH MILPITAS BLVD STREET 2: M/S25 CITY: MILPITAS STATE: CA ZIP: 95035 8-K 1 FORM 8-K DATED OCTOBER 19, 1998 1 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) October 19, 1998 ------------------------------- ADAPTEC, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in charter) DELAWARE 0-15071 94-2748530 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.)
691 S. MILPITAS DRIVE, MILPITAS, CALIFORNIA 95035 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (408) 945-8600 ------------------------------ NOT APPLICABLE - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) 2 ITEM 5. OTHER EVENTS In a press release dated October 19, 1998, Adaptec, Inc. (the "Company") announced that it would repurchase $200 Million of its outstanding Common Stock in open market purchases. All such purchases will be made in compliance with Rule 10b-18 of the Securities Exchange Act of 1934. Neither this filing nor said press release constitute an offer to purchase securities of the Company. The information contained in said press release is incorporated herein by reference. In a press release dated October 20, 1998, the Company announced that it had appointed Bob Stephens, currently Chief Operating Officer of the Company, to the additional position of President and that it had confirmed Andy Brown as Chief Financial Officer of the Company. The information contained in said press release is incorporated herein by reference.
EXHIBIT NUMBER DESCRIPTION -------------- ----------- 99.1 PRESS RELEASE DATED OCTOBER 19, 1998. 99.2 PRESS RELEASE DATED OCTOBER 20, 1998
- --------------------------- 3 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. Date: October 21, 1998 ADAPTEC, INC. /s/ Andrew J. Brown ----------------------------- Andrew J. Brown, Chief Financial Officer 4 EXHIBIT INDEX
EXHIBIT NUMBER DESCRIPTION -------------- ----------- 99.1 PRESS RELEASE DATED OCTOBER 19, 1998. 99.2 PRESS RELEASE DATED OCTOBER 20, 1998
- --------------------------- EX-99.1 2 PRESS RELEASE DATED OCTOBER 19, 1998 1 EXHIBIT 99.1 PRESS RELEASE DATED OCTOBER 19, 1998 Adaptec Announces $200 Million Stock Buyback MILPITAS, Calif., -- October 19, 1998 - The Board of Directors of Adaptec, Inc. has authorized the repurchase of up to $200 million worth of the company's outstanding common stock. The shares will be purchased on the open market. Interim CEO Larry Boucher said, "The Board decision reflects my confidence in the company's future. Both Adaptec management and the Board are committed to building shareholder value, and an expanded stock repurchase will benefit shareholders. Today's announcement reinforces Adaptec's intent to deliver improved performance and profitability." About Adaptec Adaptec provides bandwidth management technologies for organizations building the global information infrastructure. Its high performance I/O, connectivity, and network products are incorporated into the systems and products of major computer and peripheral manufacturers. Founded in 1981 and headquartered in Milpitas, Calif., Adaptec (NASDAQ: ADPT) employs people worldwide in design, manufacturing, sales, service and distribution. Adaptec's home page is http://www.adaptec.com. Adam Trunkey Adaptec, Inc. (408) 957-6761 EX-99.2 3 PRESS RELEASE DATED OCTOBER 20, 1998 1 EXHIBIT 99.2 PRESS RELEASE DATED OCTOBER 20, 1998 Adaptec Appoints Bob Stephens President Andy Brown Named CFO Milpitas, Calif. - October 20, 1998 - Adaptec, Inc. today announced the appointment of Bob Stephens, currently chief operating officer since 1995, to the additional position of president. The company also confirmed Andy Brown as chief financial officer. Mr. Brown had been serving as interim CFO since August 1998. "Bob has been key to managing the company's day to day operations and architecting the restructuring we completed this year," said Interim CEO Larry Boucher. "During his three years at Adaptec, Bob has been a principal asset to the company. His outstanding contributions have allowed Adaptec to maintain its market leadership position." Stephens, 53, who joined Adaptec in November 1995, is responsible for strategic operations, worldwide sales and marketing, research and development, and manufacturing. Andy Brown, 39, currently Adaptec's Interim CFO, joined the company in 1988, and has held a variety of financial and management positions including most recently vice president and corporate controller. As CFO, Brown will be responsible for the finance, treasury, and investor relations functions of the business. "Andy's committed to delivering solid financial results and managing Adaptec's strong balance sheet for our shareholders and institutional investors," said Larry Boucher. "His keen understanding of Adaptec's history and financial operations will be pivotal to our success in the future." About Adaptec Adaptec provides bandwidth management technologies for organizations building the global information infrastructure. Its high performance I/O, connectivity, and network products are incorporated into the systems and products of most computer and peripheral manufacturers. Founded in 1981 and headquartered in Milpitas, Calif., Adaptec (NASDAQ: ADPT) employs people worldwide in design, manufacturing, sales, service and distribution. Adaptec's home page is http://www.adaptec.com. ADAPTEC CONTACTS: Adam B. Trunkey (408) 957-6761 -----END PRIVACY-ENHANCED MESSAGE-----