-----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, JmJ5TmPpFHCp3HvIbAsh+bJ31B2Sv7G2tfmdpy3yhkdOc6zBpn/SsG/9a9BkxcHX g1GNnoiB81TCuaRA9u+jJg== /in/edgar/work/0000730000-00-000006/0000730000-00-000006.txt : 20001011 0000730000-00-000006.hdr.sgml : 20001011 ACCESSION NUMBER: 0000730000-00-000006 CONFORMED SUBMISSION TYPE: S-8 PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 20001010 EFFECTIVENESS DATE: 20001010 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SUPERTEX INC CENTRAL INDEX KEY: 0000730000 STANDARD INDUSTRIAL CLASSIFICATION: [3674 ] IRS NUMBER: 942328535 STATE OF INCORPORATION: CA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: S-8 SEC ACT: SEC FILE NUMBER: 333-47606 FILM NUMBER: 736547 BUSINESS ADDRESS: STREET 1: 1235 BORDEAUX DR CITY: SUNNYVALE STATE: CA ZIP: 94089 BUSINESS PHONE: 4087440100 MAIL ADDRESS: STREET 1: 1235 BORDEAUX DR CITY: SUNNYVALE STATE: CA ZIP: 94089 S-8 1 0001.txt FORM S-8 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 As filed with the Securities and Exchange Commission on October 6, 2000 Registration No. 33-____ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________ FORM S-8 REGISTRATION STATEMENT Under THE SECURITIES ACT OF 1933 ____________________ SUPERTEX, INC. _________________________________ (Exact name of registrant as specified in its charter) California 94-2328535 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1235 Bordeaux Drive Sunnyvale, CA 94089 (Address of principal (Zip Code) executive offices) SUPERTEX, INC. 2000 EMPLOYEE STOCK PURCHASE PLAN (Full title of the plan) HENRY C. PAO Copy to: President STEPHEN M. WURZBURG, ESQ. Supertex, Inc. Pillsbury Madison & Sutro LLP 1235 Bordeaux Drive 2550 Hanover Street Sunnyvale, CA 94089 Palo Alto, CA 94304 (408) 744-0100 (650) 233-450 (Name, address and telephone number of agent for service)
CALCULATION OF REGISTRATION FEE Proposed Proposed Title of Securities Amount To Maximum Offering Maximum Aggregate Amount of To Be Registered Be Registered Price Per Share(1) Offering Price(1) Registration Fee Common Stock, par value $1.00 500,000 shares $47.09 $23,543,000 6,215
(1) Pursuant to Rule 457(h)(i), the proposed maximum offering price per share and the registration fee has been computed on the basis of the average of the high and low prices of the Common Stock as reported on the Nasdaq National Market on October 4, 2000. ____________________ The Registration Statement shall become effective upon filing in accordance with Rule 462 under the Securities Act of 1933. PART I INFORMATION REQUIRED IN THE 10(a) PROSPECTUS Item1. Plan Information.* Item2. Registrant Information and Employee Plan Annual Information.* * Information required by Part I to be contained in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428 under the Securities Act of 1933 (the "Securities Act") and the Note to Part I of Form S-8. PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT Item3. Incorporation of Documents by Reference. The following documents filed by the Registrant with the Securities and Exchange Commission are hereby incorporated by reference in this Registration Statement: (a) Registrant's Annual Report on Form 10-K (File No. 0-12718) for the fiscal year ended March 31, 2000. (b) Registrant's Quarterly Report on Form 10-Q for the quarter ended June 30, 2000. (c) The description of Registrant's Common Stock contained in Registrant's registration statement on Form 8-A, filed July 27, 1984 as amended September 24, 1984. In addition, all documents subsequently filed by Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities 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. Item4. Description of Securities. Not applicable. Item5. Interests of Named Experts and Counsel. Not applicable. Item6. Indemnification of Directors and Officers. Section 317 of the California Corporations Code authorizes a court to award, or a corporation's Board of Directors to grant, indemnity to directors, officers, employees and other agents of the corporation ("Agents") in terms sufficiently broad to permit such indemnification under certain circumstances for liabilities (including reimbursement for expenses incurred) arising under the Securities Act of 1933, as amended (the "Act"). Article V of the Company's Restated Articles of Incorporation (Exhibit 3.1 of the Company's Registration Statement on Form S-1, File No. 2-86898, filed on October 3, 1983, as amended), as amended (pursuant to the Certificates of Amendment of Articles of Incorporation, filed on April 16, 1981, September 30, 1983 and October 28, 1988, respectively) authorizes the Company to indemnify its Agents, through bylaw provisions, agreements, votes of shareholders or disinterested directors or otherwise, in excess of the indemnification otherwise permitted by Section 317 of the California Corporations Code, subject to the applicable limits set forth in Section 204 of the California Corporations Code with respect to actions for breach of duty to the Company and its shareholders. Article VI of the Company's Bylaws provides for mandatory indemnification of each director of the Company to the maximum extent permitted by law. The Company maintains a directors and officers liability insurance policy that indemnifies the Company's directors and officers against certain losses in connection with claims made against them for certain wrongful acts. Item7. Exemption From Registration Claimed. Not applicable. Item8. Exhibits. See Index to Exhibits, which list of exhibits is incorporated herein by reference. Item9. Undertakings. (a) The undersigned Registrant hereby undertakes: (1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement: (i) to include any prospectus required by section 10(a)(3) of the Securities Act of 1933; (ii) to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement; (iii) 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; provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement. (2) That, for the purpose of determining any liability under the Securities Act of 1933, 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. (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 undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) 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 of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant 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 registrant will, unless in the opinion of its 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 Act and will be governed by the final adjudication of such issue. SIGNATURES Pursuant to the requirements of the Securities Act of 1933, the Registrant 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 Sunnyvale, State of California, on the 6th day of October, 2000. SUPERTEX, INC. By /s/ Henry C. Pao Henry C. Pao President POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Henry C. Pao and Jacqueline Limary, and each of them, his or her true and lawful attorneys-in-fact and agents, each with full power of substitution and resubstitution, for him or her and in his or her 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 exhibits thereto and other 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 done, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that each of said attorneys-in-fact and agents, or his substitute or substitutes, may do or cause to be done by virtue hereof. Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated. Name Title Date /s/ Henry C. Pao President (Principal Executive October 6, 2000 (Henry C. Pao) Officer) /s/ Jacqueline Limary Controller (Principal Financial October 6, 2000 (Jacqueline Limary) and Accounting Officer) /s/ Benedict C.K. Choy Senior Vice President, Secretary October 6, 2000 (Benedict C.K. Choy) and Director /s/ Richard Siegel Executive Vice President and October 6, 2000 (Richard Siegel) Director /s/ Frank Pao Director October 6, 2000 (Frank Pao) /s/ Mark Loveless Director October 6, 2000 (Mark Loveless) /s/ Elliott Schlam Director October 6, 2000 (Elliott Schlam) INDEX TO EXHIBITS Exhibit Number Exhibit 4.1 Supertex, Inc. 2000 Employee Stock Purchase Plan. 5.1 Opinion of Pillsbury Madison & Sutro LLP. 23.1 Consent of PricewaterhouseCoopers LLP, Independent Auditors. 23.2 Consent of Pillsbury Madison & Sutro LLP (included in Exhibit 5.1). 24.1 Power of Attorney (see page 5).
EX-4 2 0002.txt 2000 EMPLOYEE STOCK PURCHASE PLAN EXHIBIT 4.1 SUPERTEX, INC. 2000 EMPLOYEE STOCK PURCHASE PLAN 1. Purpose of the Plan. The Plan was adopted by the Board on July 10, 2000 and approved by the sharedholders on August 18, 2000. The purpose of the Plan is to provide Eligible Employees with an opportunity to increase their proprietary interest in the success of the Company by purchasing Stock from the Company on favorable terms and to pay for such purchases through payroll deductions. The Plan is intended to qualify under section 423 of the Code. 2. Definitions. "Accumulation Period" means a six-month period during which contributions may be made toward the purchase of Stock under the Plan, as determined pursuant to Section 4.2. "Board" means the Board of Directors of the Company, as constituted from time to time. "Code" means the Internal Revenue Code of 1986, as amended. "Committee" means a committee of the Board, as described in Section 3. "Company" means Supertex, Inc., a California corporation. "Compensation" means (i) the total compensation paid in cash to a Participant by a Participating Company, including salaries, wages, bonuses, incentive compensation, commissions, overtime pay and shift premiums, plus (ii) any pre-tax contributions made by the Participant under section 401(k) or Section 125 of the Code. "Compensation" shall exclude all non-cash items, moving or relocation allowances, cost-of-living equalization payments, car allowances, tuition reimbursements, imputed income attributable to cars or life insurance, severance pay, fringe benefits, contributions or benefits received under employee benefit plans, income attributable to the exercise of stock options, and similar items. The Committee shall determine whether a particular item is included in Compensation. "Corporate Reorganization" means: (i) A merger or consolidation of the Company with or into another entity, or any other corporate reorganization other than a reincorporation or recapitalization; or (ii) The sale, transfer or other disposition of all or substantially all of the Company's assets or the complete liquidation or dissolution of the Company. "Eligible Employee" means any employee of a Participating Company whose customary employment is for more than five (5) months per calendar year and for more than twenty (20) hours per week provided such person has been a Company employee for at least (90) days. The foregoing notwithstanding, an individual shall not be considered an Eligible Employee if his or her participation in the Plan is prohibited by the law of any country which has jurisdiction over him or her or if he or she is subject to a collective bargaining agreement that does not provide for participation in the Plan. "Exchange Act" means the Securities Exchange Act of 1934, as amended. "Fair Market Value" means the market price of Stock, determined by the Committee as follows: (i) If Stock was traded on The Nasdaq National Market on the date in question, then the Fair Market Value shall be equal to the last-transaction price quoted for such date by The Nasdaq National Market; (ii) If Stock was traded on a stock exchange on the date in question, then the Fair Market Value shall be equal to the closing price reported by the applicable composite transactions report for such date; or (iii) If none of the foregoing provisions is applicable, then the Fair Market Value shall be determined by the Committee in good faith on such basis as it deems appropriate. Whenever possible, the determination of Fair Market Value by the Committee shall be based on the prices reported in the Wall Street Journal or as reported directly to the Company by Nasdaq or a stock exchange. Such determination shall be conclusive and binding on all persons. "Offering Period" means that time period with respect to which the right to purchase Stock may be granted under the Plan, as determined pursuant to Section 4.1. Initially, each Offering Period shall be six (6) months unless and until the Committee chooses a different time period length and provides Participants notice at least thirty (30) days prior to the start of the next Offering Period of the new duration of such next Offering Period. "Participant" means an Eligible Employee who elects to participate in the Plan, as provided in Section 4.3. "Participating Company" means (i) the Company and (ii) each present or future Subsidiary designated by the Committee as a Participating Company. "Plan" means this Supertex, Inc. 2000 Employee Stock Purchase Plan, as it may be amended from time to time. "Plan Account" means the account established for each Participant pursuant to Section 8.1. "Purchase Price" means the price at which Participants may purchase Stock under the Plan, as determined pursuant to Section 8.2." "Stock" means the Common Stock of the Company. "Subsidiary" means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 3. Administration of the Plan 3.1 Committee Composition. The Plan shall be administered by the Committee. The Committee shall consist exclusively of one or more directors of the Company, who shall be appointed by the Board. 3.2 Committee Responsibilities. The Committee shall interpret the Plan and make all other policy decisions relating to the operation of the Plan. The Committee may adopt such rules, guidelines and forms as it deems appropriate to implement the Plan. The Committee's determinations under the Plan shall be final and binding on all persons. 4. Enrollment and Participation 4.1 Offering Periods. While the Plan is in effect, two Offering Periods shall commence in each calendar year. The Offering Periods shall consist of the six month periods commencing on each May 1 and November 1. The first Offering Period shall commence on November 1, 2000 and end on April 30, 2001. 4.2 Accumulation Periods. While the Plan is in effect, two Accumulation Periods shall commence in each calendar year. The Accumulation Periods shall consist of the six-month periods commencing on May 1 and November 1. The first Accumulation Period shall commence on November 1, 2000 and end on April 30, 2001. 4.3 Enrollment. Any individual who, on the day preceding the first day of an Offering Period, qualifies as an Eligible Employee may elect to become a Participant in the Plan for such Offering Period by executing the enrollment form prescribed for this purpose by the Committee. The enrollment form shall be filed with the Company at the prescribed location not later than 15 days prior to the commencement of such Offering Period. 4.4 Duration of Participation. Once enrolled in the Plan, a Participant shall continue to participate in the Plan until he or she ceases to be an Eligible Employee, withdraws from the Plan under Section 6.1 or reaches the end of the Offering Period in which his or her employee contributions were discontinued under Section 5.4 or 9.2. A Participant who discontinued employee contributions under Section 5.4 or 9.2 or withdrew from the Plan under Section 6.1 may again become a Participant, if he or she then is an Eligible Employee, by following the procedure described in Subsection 4.3 above. A Participant whose employee contributions were discontinued automatically under Section 9.2 shall automatically resume participation at the beginning of the earliest Offering Period ending in the next calendar year, if he or she then is an Eligible Employee. 4.5 Applicable Offering Period. For purposes of calculating the purchase price under Section 8.2, the applicable Offering Period shall be determined as follows: (i) Once a Participant is enrolled in the Plan for an Offering Period, such Offering Period shall continue to apply to him or her until the earliest of: (A) the end of such Offering Period; (B) the end of his or her participation under Subsection 4.4 above; or (C) re-enrollment in a subsequent Offering Period under Paragraph ii) below. (ii) In the event that the Fair Market Value of Stock on the last trading day before the commencement of the Offering Period in which the Participant is enrolled is higher than on the last trading day before the commencement of any subsequent Offering Period, the Participant shall automatically be re-enrolled for such subsequent Offering Period. (iii) When a Participant reaches the end of an Offering Period but his or her participation is to continue, then such Participant shall automatically be re-enrolled for the Offering Period that commences immediately after the end of the prior Offering Period. 5. Employee Contributions. 5.1 Frequency of Payroll Deductions. A Participant may purchase shares of Stock under the Plan solely by means of payroll deductions. Payroll deductions, as designated by the Participant pursuant to Section 5.2 below, shall occur on each payday during participation in the Plan. 5.2 Amount of Payroll Deductions. An Eligible Employee shall designate on the enrollment form the portion of his or her Compensation that he or she elects to have withheld for the purchase of Stock. Such portion shall be a whole percentage of the Eligible Employee's Compensation, but not less than three percent (3)% nor more than twenty percent (20%). 5.3 Changing Withholding Rate. Participants may not change the rate of payroll withholding during an Accumulation Period. If a Participant wishes to change the rate of payroll withholding, effective as of the Accumulation Period immediately following the date that a new enrollment form has been received by the Company, he or she may do so by filing a new enrollment form with the Company at the prescribed location at any time. The new withholding rate shall be effective as of the Accumulation Period immediately following the date that such form has been received by the Company. The new withholding rate shall be a whole percentage of the Eligible Employee's Compensation, but not less than three percent (3%) nor more than twenty percent (20%). 5.4 Discontinuing Payroll Deductions. If a Participant wishes to discontinue employee contributions entirely, he or she may do so by filing a new enrollment form with the Company at the prescribed location at any time. Payroll withholding shall cease as soon as reasonably practicable after such form has been received by the Company. In addition, employee contributions may be discontinued automatically pursuant to Section 9.2. A Participant who has discontinued employee contributions may resume such contributions by filing a new enrollment form with the Company at the prescribed location. Payroll withholding shall resume as of the Accumulation Period immediately following the date that such form has been received by the Company. 5.5 Limit on Number of Elections. No Participant shall make more than two (2) elections under Sections 5.3 or 5.4 above during any Offering Period. 6. Withdrawal from the Plan. 6.1 Withdrawal. A Participant may elect to withdraw from the Plan by filing the prescribed form with the Company at the prescribed location at any time before the last day of an Accumulation Period. As soon as reasonably practicable thereafter, payroll deductions shall cease and the entire amount credited to the Participant's Plan Account shall be refunded to him or her in cash, without interest. No partial withdrawals shall be permitted. 6.2 Re-enrollment After Withdrawal. A former Participant who has withdrawn from the Plan shall not be a Participant until he or she re-enrolls in the Plan under Section 4.3. Re-enrollment may be effective only at the commencement of an Offering Period. 7. Change in Employment Status. 7.1 Termination of Employment. Termination of employment as an Eligible Employee for any reason, including death, shall be treated as an automatic withdrawal from the Plan under Section 6.1. Notwithstanding the foregoing in this Section 7, a transfer from one Participating Company to another shall not be treated as a termination of employment. 7.2 Leave of Absence. For purposes of the Plan, employment shall not be deemed to terminate when the Participant goes on a military leave, a sick leave or another bona fide leave of absence, if the leave was approved by the Company in writing. Employment, however, shall be deemed to terminate ninety (90) days after the Participant goes on a leave, unless a contract or statute guarantees his or her right to return to work. Employment shall be deemed to terminate in any event when the approved leave ends, unless the Participant immediately returns to work. 7.3 Death. In the event of the Participant's death, the amount credited to his or her Plan Account shall be paid to a beneficiary designated by him or her for this purpose on the prescribed form or, if none, to the Participant's estate. Such form shall be valid only if it was filed with the Company at the prescribed location before the Participant's death. 8. Plan Accounts and Purchase of Shares. 8.1 Plan Accounts. The Company shall maintain a Plan Account on its books in the name of each Participant. Whenever an amount is deducted from the Participant's Compensation under the Plan, such amount shall be credited to the Participant's Plan Account. Amounts credited to Plan Accounts shall not be trust funds and may be commingled with the Company's general assets and applied to general corporate purposes. No interest shall be credited to Plan Accounts. 8.2 Purchase Price. The Purchase Price for each share of Stock purchased at the close of an Accumulation Period shall be the lower of: (i) 85% of the Fair Market Value of such share on the last trading day in such Accumulation Period; or (ii) 85% of the Fair Market Value of such share on the last trading day before the commencement of the applicable Offering Period (as determined under Section 4.5). 8.3 Number of Shares Purchased. As of the last day of each Accumulation Period, each Participant shall be deemed to have elected to purchase the number of shares of Stock calculated in accordance with this Section 8.3, unless the Participant has previously elected to withdraw from the Plan in accordance with Section 6.1. The amount then in the Participant's Plan Account shall be divided by the Purchase Price, and the number of shares that results shall be purchased from the Company with the funds in the Participant's Plan Account. The foregoing notwithstanding, no Participant shall purchase more than five hundred (500) shares of Stock with respect to any Accumulation Period nor more than the amounts of Stock set forth in Sections 9.2 and 14.1. The Committee may determine with respect to all Participants that any fractional share, as calculated under this Subsection 8.3, shall be (i) rounded down to the next lower whole share or (ii) credited as a fractional share. 8.4 Available Shares Insufficient. In the event that the aggregate number of shares that all Participants elect to purchase during an Accumulation Period exceeds the maximum number of shares remaining available for issuance under Section 14.1, then the number of shares to which each Participant is entitled shall be determined by multiplying the number of shares available for issuance by a fraction, the numerator of which is the number of shares that such Participant has elected to purchase and the denominator of which is the number of shares that all Participants have elected to purchase. 8.5 Issuance of Stock. Certificates representing the shares of Stock purchased by a Participant under the Plan shall be issued to him or her as soon as reasonably practicable after the close of the applicable Accumulation Period, except that the Committee may determine that such shares shall be held for each Participant's benefit by a broker designated by the Committee (unless the Participant has elected that certificates be issued to him or her). Shares may be registered in the name of the Participant or jointly in the name of the Participant and his or her spouse as joint tenants with right of survivorship or as community property. 8.6 Unused Cash Balances. An amount remaining in the Participant's Plan Account that represents the Purchase Price for any fractional share shall be carried over in the Participant's Plan Account to the next Accumulation Period. Any amount remaining in the Participant's Plan Account that represents the Purchase Price for whole shares that could not be purchased by reason of Section 8.3 above, Section 9.2 or Section 14.1 shall be refunded to the Participant in cash, without interest. 8.7 Stockholder Approval. Any other provision of the Plan notwithstanding, no shares of Stock shall be purchased under the Plan unless and until the Company's stockholders have approved the adoption of the Plan. 9. Limitations on Stock Ownership. 9.1 Five Percent Limit. Any other provision of the Plan notwithstanding, no Participant shall be granted a right to purchase Stock under the Plan if such Participant, immediately after his or her election to purchase such Stock, would own stock possessing more than 5% of the total combined voting power or value of all classes of stock of the Company or any parent or Subsidiary of the Company. For purposes of this Section 9.1, the following rules shall apply: (i) Ownership of stock shall be determined after applying the attribution rules of section 424(d) of the Code; (ii) Each Participant shall be deemed to own any stock that he or she has a right or option to purchase under this or any other plan; and (iii) Each Participant shall be deemed to have the right to purchase five hundred (500) shares of Stock under this Plan with respect to each Accumulation Period. 9.2 Dollar Limit. Any other provision of the Plan notwithstanding, no Participant shall purchase Stock with a Fair Market Value in excess of $10,000 per calendar year (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company). For purposes of this Section 9.2, the Fair Market Value of Stock shall be determined in each case as of the beginning of the Offering Period in which such Stock is purchased. Employee stock purchase plans not described in section 423 of the Code shall be disregarded. If a Participant is precluded by this Section 9.2 from purchasing additional Stock under the Plan, then his or her employee contributions shall automatically be discontinued and shall resume at the beginning of the earliest Accumulation Period ending in the next calendar year (if he or she then is an Eligible Employee). 10. Rights Not Transferable. The rights of any Participant under the Plan, or any Participant's interest in any Stock or moneys to which he or she may be entitled under the Plan, shall not be transferable by voluntary or involuntary assignment or by operation of law, or in any other manner other than by beneficiary designation or the laws of descent and distribution. If a Participant in any manner attempts to transfer, assign or otherwise encumber his or her rights or interest under the Plan, other than by beneficiary designation or the laws of descent and distribution, then such act shall be treated as an election by the Participant to withdraw from the Plan under Section 6.1. 11. No Rights as an Employee. Nothing in the Plan or in any right granted under the Plan shall confer upon the Participant any right to continue in the employ of a Participating Company for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Participating Companies or of the Participant, which rights are hereby expressly reserved by each, to terminate his or her employment at any time and for any reason, with or without cause. 12. No Rights as a Stockholder. A Participant shall have no rights as a stockholder with respect to any shares of Stock that he or she may have a right to purchase under the Plan until such shares have been purchased on the last day of the applicable Offering Period. 13. Securities Law Requirements. Shares of Stock shall not be issued under the Plan unless the issuance and delivery of such shares comply with (or are exempt from) all applicable requirements of law, including (without limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any stock exchange or other securities market on which the Company's securities may then be traded. 14. Stock Offered under the Plan. 14.1 Authorized Shares. The maximum aggregate number of shares of Stock available for purchase under the Plan is five hundred thousand (500,000), plus an annual increase to be added on the first day of the Company's fiscal year beginning in 2001 equal to the lesser of (i) one hundred thousand (100,000) shares, (ii) three percent (3%) of the outstanding shares on such date or (iii) a lesser amount determined by the Board. The aggregate number of Shares available for purchase under the Plan shall at all times be subject to adjustment pursuant to Section 14. 14.2 Antidilution Adjustments. The aggregate number of shares of Stock offered under the Plan, the five hundred (500) share limitation described in Section 8.3 and the price of shares that any Participant has elected to purchase shall be adjusted proportionately by the Committee for any increase or decrease in the number of outstanding shares of Stock resulting from a subdivision or consolidation of shares or the payment of a stock dividend, any other increase or decrease in such shares effected without receipt or payment of consideration by the Company, the distribution of the shares of a Subsidiary to the Company's stockholders or a similar event. 14.3 Reorganizations. Any other provision of the Plan notwithstanding, immediately prior to the effective time of a Corporate Reorganization, the Offering Period then in progress shall terminate and shares shall be purchased pursuant to Section 8, unless the Plan is assumed by the surviving corporation or its parent corporation pursuant to the plan of merger or consolidation. The Plan shall in no event be construed to restrict in any way the Company's right to undertake a dissolution, liquidation, merger, consolidation or other reorganization. 15. Amendment or Discontinuance. The Board shall have the right to amend, suspend or terminate the Plan at any time and without notice. Except as provided in Section 14, any increase in the aggregate number of shares of Stock to be issued under the Plan shall be subject to approval by a vote of the stockholders of the Company. In addition, any other amendment of the Plan shall be subject to approval by a vote of the stockholders of the Company to the extent required by an applicable law or regulation. 16. Execution. To record the adoption of the Plan by the Board on July 10, 2000, the Company has caused its authorized officer to execute the same. SUPERTEX, INC. By:______________________ Its:_____________________ Title:___________________ EX-5 3 0003.txt OPINION OF PILLSBURY MADISON & SUTRO LLP EXHIBIT 5.1 PILLSBURY MADISON & SUTRO LLP 2550 HANOVER STREET PALO ALTO, CA 94304 October 4, 2000 Supertex, Inc. 1235 Bordeaux Drive Sunnyvale, CA 94089 Re: Registration Statement on Form S-8 Ladies and Gentlemen: With reference to the Registration Statement on Form S-8 to be filed by Supertex, Inc., a California corporation (the "Company"), with the Securities and Exchange Commission under the Securities Act of 1933, as amended, relating to 500,000 shares of the Company's Common Stock (the "Shares") issuable pursuant to the Company's 2000 Employee Stock Purchase Plan (the "Plan"), it is our opinion that the Shares have been duly authorized, and when issued and sold in accordance with the Plan, will be legally issued, fully paid and nonassessable. We hereby consent to the filing of this opinion with the Securities and Exchange Commission as Exhibit 5.1 to the Registration Statement. Very truly yours, /s/ PILLSBURY MADISON & SUTRO LLP EX-23 4 0004.txt CONSENT OF INDEPENDENT ACCOUNTANTS EXHIBIT 23.1 CONSENT OF INDEPENDENT ACCOUNTANTS We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated April 28, 2000 relating to the consolidated financial statements and financial statement schedule of Supertex, Inc., which appears Supertex, Inc.'s Annual Report on Form 10-K for the year ended March 31, 2000. /s/ PricewaterhouseCoopers LLP San Jose, California October 5, 2000
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