S-8 1 v92623orsv8.htm S-8 Tekelec Form S-8
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As filed with the Securities and Exchange Commission on September 30, 2003

Registration No. 333-


SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM S-8

REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933


TEKELEC

(Exact name of registrant as specified in its charter)
     
California   95-2746131
(State or other jurisdiction of   (I.R.S. Employer
incorporation or organization)   Identification No.)
     
26580 West Agoura Road    
Calabasas, California   91302
(Address of Principal Executive Offices)   (Zip Code)


Nonstatutory Stock Option Agreements
(Full title of the plans)


RONALD W. BUCKLY, ESQ.
Vice President and General Counsel
Tekelec
26580 West Agoura Road
Calabasas, California 91302
(818) 880-5656

(Name, address and telephone number of agent for service)


Copy to:

KATHERINE F. ASHTON, ESQ.
Bryan Cave LLP
120 Broadway, Suite 300
Santa Monica, California 90401


 


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CALCULATION OF REGISTRATION FEE


                     
            Proposed        
Title of   Amount   Proposed   Maximum        
Securities   of Shares   Maximum   Aggregate   Amount of
to be   to be   Offering Price   Offering   Registration
Registered   Registered(1)   per Share   Price   Fee

 
 
 
 
Common Stock,
without par value
  885,000(1)(2)   $12.70(3)   $11,239,500(3)   $ 910  


(1)   This Registration Statement also covers such additional shares of Common Stock of the Registrant as may be issuable pursuant to anti-dilution provisions of these options. Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement shall also cover any additional shares of the Registrant’s Common Stock that become issuable under the options covered hereby by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the receipt of consideration that increases the number of the Registrant’s outstanding shares of Common Stock.
 
(2)   Represents shares issuable upon exercise of options granted outside of any option plan of the Company to certain key employees of Santera Systems Inc., a Delaware corporation and a majority owned subsidiary of the Company.
 
(3)   Estimated solely for purposes of calculating the registration fee. Pursuant to Rule 457(h) under the Securities Act, the Proposed Maximum Offering Price Per Share and the Proposed Maximum Aggregate Offering Price are computed on the basis of the price at which the options may be exercised.

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PART I: INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
PART II: INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
Item 4. Description of Securities.
Item 5. Interests of Named Experts and Counsel.
Item 6. Indemnification of Directors and Officers.
Item 7. Exemption from Registration Claimed.
Item 8. Exhibits.
Item 9. Undertakings.
SIGNATURES
INDEX TO EXHIBITS
EXHIBIT 4.2
EXHIBIT 4.3
EXHIBIT 4.4
EXHIBIT 4.5
EXHIBIT 4.6
EXHIBIT 4.7
EXHIBIT 5.1
EXHIBIT 23.1
EXHIBIT 23.2


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PART I: INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS

     The documents containing the information specified in Items 1 and 2 of Part I of Form S-8 will be sent or given to the holders of the non-plan options as specified in Rule 428(b)(1), under the Securities Act. In accordance with the instructions to Part I, those documents are not filed with the Commission as part of this registration statement or a prospectus under Rule 424 of the Securities Act.

PART II: INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3. Incorporation of Documents by Reference.

          The following documents and information previously filed with the Securities and Exchange Commission are hereby incorporated by reference:

          Item 3(a)

      The Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2002.

          Item 3(b)

      The Registrant’s Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2003 and June 30, 2003.
 
      The Registrant’s Current Reports on Form 8-K filed with the Commission on April 30, 2003, May 7, 2003, June 11, 2003 and June 16, 2003, and the Registrant’s Current Reports on Form 8-K/A filed with the Commission on June 25, 2003 and September 16, 2003.

          Item 3(c)

      Item 1 of the Registrant’s Registration Statement on Form 8-A (Registration No. 0-15135) filed with the Commission on November 12, 1986, pursuant to Section 12 of the Securities Exchange Act of 1934.

          All documents subsequently filed by the 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 part hereof from the date of filing such documents.

Item 4. Description of Securities.

          Not Applicable.

Item 5. Interests of Named Experts and Counsel.

          The validity of the shares of the Company’s Common Stock registered hereunder will be passed upon for the Company by Bryan Cave LLP, Santa Monica, California. Ronald W. Buckly, the

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Company’s Vice President and General Counsel, is of counsel to Bryan Cave LLP, which firm has provided legal services to the Company since March 1996.

Item 6. Indemnification of Directors and Officers.

          Section 317 of the California Corporations Code provides that a corporation may indemnify corporate “agents” (including directors, officers and employees of the corporation) against expenses, judgments, fines, settlements and other amounts actually and reasonably incurred in connection with defending non-derivative actions if such person acted in good faith and in a manner such person reasonably believed to be in the best interests of the corporation and, in the case of a criminal proceeding, had no reasonable cause to believe the conduct of such person was unlawful, and against expenses actually and reasonably incurred in connection with defending derivative actions if such person acted in good faith and in a manner such person believed to be in the best interests of the corporation and its shareholders. Indemnification is obligatory to the extent that an agent of a corporation has been successful on the merits in defense of any such proceeding against such agent, but otherwise may be made only upon a determination in each instance either by a majority vote of a quorum of the Board of Directors (other than directors involved in such proceeding), by independent legal counsel if such a quorum of directors is not obtainable, by the shareholders (other than shareholders to be indemnified), or by the court, that indemnification is proper because the agent has met the applicable statutory standards of conduct. Corporations may also advance expenses incurred in defending proceedings against corporate agents, upon receipt of an undertaking that the agent will reimburse the corporation unless it is ultimately determined that the agent is entitled to be indemnified against expenses reasonably incurred.

          The indemnification provided by Section 317 of the California Corporations Code is not deemed to be exclusive of any other rights to which agents of the Company seeking indemnification may be entitled under any bylaw, agreement, vote of shareholders or disinterested directors, or otherwise, both as to action in an official capacity and as to action in another capacity while holding such office, to the extent such additional rights are authorized in the articles of the corporation. Article V of the Company’s Restated Articles of Incorporation authorizes the Company to provide for indemnification of its agents for breach of duty to the Company and its shareholders, through bylaw provisions or through agreements with such agents, or both, in excess of the indemnification otherwise permitted by Section 317, subject to the limits on such excess indemnification set forth in Section 204 of the California General Corporation Law.

          Article VI of the Company’s bylaws provides for the indemnification of all past and current directors to the maximum extent and in the manner permitted by Section 317. Additionally, the Company has entered into Indemnification Agreements with its directors under which the Company has undertaken to indemnify each such agent to the fullest extent permitted by its Articles of Incorporation, bylaws and applicable law against all expenses, liability and loss (which are not paid by insurance or otherwise by the Company) reasonably incurred or suffered by such agent in connection with the defense of any action or proceeding to which the agent was or is a party or is threatened to be made a party by reason of conduct in his capacity as an officer or director, or in which the agent is or may be involved by reason of the fact that he is or was serving as an officer or director of the Company, not including actions brought for violation of Section 16 of the Securities Exchange Act of 1934, as amended, or for failure to qualify for an exemption under Section 4 of the Securities Act of 1933, as amended.

          The Company also maintains on behalf of its directors and officers insurance protection against certain liabilities arising out of the discharge of their duties.

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Item 7. Exemption from Registration Claimed.

          Not applicable.

Item 8. Exhibits.

     
Exhibit    
Number    

   
4.1   Nonstatutory Stock Option Agreement dated as of June 11, 2003 between the Registrant and David Heard.(1)
4.2   Nonstatutory Stock Option Agreement dated as of June 11, 2003 between the Registrant and San-Qi Li.
4.3   Nonstatutory Stock Option Agreement dated as of June 11, 2003 between the Registrant and Timothy Mutter.
4.4   Nonstatutory Stock Option Agreement dated as of June 11, 2003 between the Registrant and James Orlando.
4.5   Nonstatutory Stock Option Agreement dated as of June 11, 2003 between the Registrant and Ronald Wagner.
4.6   Nonstatutory Stock Option Agreement dated as of June 11, 2003 between the Registrant and Greg Greco.
4.7   Nonstatutory Stock Option Agreement dated as of June 11, 2003 between the Registrant and Scott Weidenfeller.
5.1   Opinion of Bryan Cave LLP.
23.1   Consent of PricewaterhouseCoopers LLP.
23.2   Consent of Ernst & Young LLP.
23.3   Consent of Bryan Cave LLP (included in Exhibit 5.1).
24.1   Power of Attorney (see page 5 of this Registration Statement).


(1) Incorporated by reference to the Registrant’s Quarterly Report on Form 10-Q (File No. 0-15135) for the quarter ended June 30, 2003.

Item 9. 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

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filed by the Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 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)  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 Securities Act of 1933 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 Securities Act of 1933 and will be governed by the final adjudication of such issue.

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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 Calabasas, State of California, on September 30, 2003.

             
    TEKELEC
             
    By:   /s/ Frederick M. Lax    
       
   
        Frederick M. Lax,
Chief Executive Officer and President
   

POWER OF ATTORNEY

     KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Frederick M. Lax and Ronald W. Buckly, or either of them, his attorneys-in-fact and agents, each with full power of substitution for him and in his name, place and stead, in any and all capacities, to sign any or all amendments (including, without limitation, post-effective amendments and documents in connection therewith) to this Registration Statement, and to file the same with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each of said attorneys-in-fact and agents full power and authority to do so and perform each and every act and thing requisite and necessary to be done in connection with this Registration Statement, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that either of said attorneys-in-fact and agents, or his substitute or substitutes, may lawfully 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 by the following persons in the capacities and on the dates indicated.

         
Signature   Title   Date

 
 
/s/ Frederick M. Lax

Frederick M. Lax
  Director, Chief Executive Officer and
President (Principal Executive Officer)
  September 30, 2003
 
/s/ Paul J. Pucino

Paul J. Pucino
  Vice President and Chief Financial
Officer (Principal Financial Officer
and Principal Accounting Officer)
  September 30, 2003
 
/s/ Jean-Claude Asscher

Jean-Claude Asscher
  Chairman of the Board   September 30, 2003
 
/s/ Robert V. Adams

Robert V. Adams
  Director   September 30, 2003
 
/s/ Daniel L. Brenner

Daniel L. Brenner
  Director   September 30, 2003
 
/s/ Martin A. Kaplan

Martin A. Kaplan
  Director   September 30, 2003
 
/s/ Howard Oringer

Howard Oringer
  Director   September 30, 2003
 
/s/ Jon F. Rager

Jon F. Rager
  Director   September 30, 2003

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INDEX TO EXHIBITS

     
Exhibit    
Number   Exhibit

 
4.2   Nonstatutory Stock Option Agreement dated as of June 11, 2003 between the Registrant and San-Qi Li.
4.3   Nonstatutory Stock Option Agreement dated as of June 11, 2003 between the Registrant and Timothy Mutter.
4.4   Nonstatutory Stock Option Agreement dated as of June 11, 2003 between the Registrant and James Orlando.
4.5   Nonstatutory Stock Option Agreement dated as of June 11, 2003 between the Registrant and Ronald Wagner.
4.6   Nonstatutory Stock Option Agreement dated as of June 11, 2003 between the Registrant and Greg Greco.
4.7   Nonstatutory Stock Option Agreement dated as of June 11, 2003 between the Registrant and Scott Weidenfeller.
5.1   Opinion of Bryan Cave LLP.
23.1   Consent of PricewaterhouseCoopers LLP.
23.2   Consent of Ernst & Young LLP.