0001193125-12-363610.txt : 20120821 0001193125-12-363610.hdr.sgml : 20120821 20120821165424 ACCESSION NUMBER: 0001193125-12-363610 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20120821 DATE AS OF CHANGE: 20120821 EFFECTIVENESS DATE: 20120821 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TYCO INTERNATIONAL LTD CENTRAL INDEX KEY: 0000833444 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS BUSINESS SERVICES [7380] IRS NUMBER: 000000000 STATE OF INCORPORATION: V8 FISCAL YEAR END: 0925 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-13836 FILM NUMBER: 121048166 BUSINESS ADDRESS: STREET 1: FREIER PLATZ 10 CITY: SCHAFFHAUSEN STATE: V8 ZIP: CH-8200 BUSINESS PHONE: 609-720-4200 MAIL ADDRESS: STREET 1: C/O TYCO INTERNATIONAL MANAGEMENT CO STREET 2: 9 ROSZEL ROAD CITY: PRINCETON STATE: NJ ZIP: 08540 FORMER COMPANY: FORMER CONFORMED NAME: TYCO INTERNATIONAL LTD /BER/ DATE OF NAME CHANGE: 19970715 FORMER COMPANY: FORMER CONFORMED NAME: ADT LIMITED DATE OF NAME CHANGE: 19930601 DEFA14A 1 d401007ddefa14a.htm DEFINITIVE ADDITIONAL MATERIALS Definitive Additional Materials

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

(Rule 14a-101)

Information Required in Proxy Statement

Schedule 14A Information

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

(Amendment No.    )

Filed by the Registrant  x                            Filed by a Party other than the Registrant  ¨

Check the appropriate box:

 

¨   Preliminary Proxy Statement
¨   Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
¨   Definitive Proxy Statement
x   Definitive Additional Materials
¨   Soliciting Material Pursuant to §240.14a-12

TYCO INTERNATIONAL LTD.
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
¨   No fee required.
¨   Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
  (1)  

Title of each class of securities to which transaction applies:

 

 

   

 

  (2)  

Aggregate number of securities to which transaction applies:

 

 

   

 

  (3)  

Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):

 

 

   

 

  (4)  

Proposed maximum aggregate value of transaction:

 

 

   

 

  (5)   Total fee paid:
   
   

 

x   Fee paid previously with preliminary materials.
¨   Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
  (1)  

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Tyco International Ltd. (“Tyco”)

Special General Meeting of Shareholders

Supplemental Information Regarding Proposal 5 -

Approval of Tyco International Ltd. 2012 Stock and Incentive Plan (the “Plan”)

August 21, 2012

Explanatory Note

The following information is being provided to shareholders to assist in their evaluation of management’s proposal to approve the Plan at the Special General Meeting of Tyco shareholders being held on September 14, 2012 in Schaffhausen, Switzerland.

Equity Compensation Plan Information

The following table provides information as of June 29, 2012 with respect to Tyco’s common shares issuable under its equity compensation plans:

 

     Equity Compensation Plan  
Plan Category    Number of
securities to be
issued  upon
exercise  of
outstanding
options
(a)
     Weighted-average
exercise price of
outstanding
options
(b)
     Number of
securities remaining
available for future
issuance under
equity compensation plans
(excluding securities
reflected in column (a))
(c)
 

Equity compensation plans approved by shareholders:

        

2004 Stock and Incentive Plan(1)

     26,038,684       $ 42.33         12,040,081   

LTIP I Plan(2)

     955,136         30.73         —     

ESPP(3)

     —           —           2,919,845   
  

 

 

       

 

 

 
     26,993,820            14,959,926   
  

 

 

       

 

 

 

Equity compensation plans not approved by shareholders:

        

LTIP II Plan(4)

     238,307       $ 23.25         —     

SAYE(5)

     441         34.41         —     

Broadview Security Plans(6)

     70,135         32.79         —     
  

 

 

       

 

 

 
     308,883            —     
  

 

 

       

 

 

 

Total

     27,302,703            14,959,926   
  

 

 

       

 

 

 

 

(1) 

The Tyco International Ltd. 2004 Stock and Incentive Plan (“2004 Plan”) provides for the award of stock options, restricted stock units (“RSU”), performance share units (“PSU”) and other equity and equity-based awards to Board members, officers and non-officer employees. Amounts shown in column (a) include 20,595,823 shares that may be issued upon the exercise of stock options, 246,219 deferred stock units (“DSU”) and dividend equivalents earned on such DSUs, 3,381,327 shares that may be issued upon the vesting of RSUs, and 1,815,315 shares that may be issued upon the vesting of PSUs, assuming a target payout. Amounts in column (c) include the aggregate shares available under the Tyco International Ltd. Long Term Incentive Plan (“LTIP I”), the Tyco International Ltd. Long Term Incentive Plan (“LTIP II”) and the 2004 Plan, as the shares formerly available under the LTIP I and LTIP II have been rolled into the 2004 Plan.

(2) 

The LTIP I allowed for the grant of stock options and other equity or equity-based grants to Board members, officers and non-officer employees. The amount in column (a) includes 86,777 shares to be issued upon the exercise of stock options and 868,359 DSU grants and dividend equivalents earned on such DSUs. No additional grants may be made under the LTIP I, the LTIP II, or any acquired plans.


(3) 

Shares available for future issuance under the Tyco Employee Stock Purchase Plan (“ESPP”) represent the number of remaining shares registered for issuance under this plan. All of the shares delivered to participants under the ESPP were purchased in the open market. The ESPP was suspended indefinitely during the fourth quarter of 2009.

(4) 

Under the terms of the 2004 Plan adopted in March 2004, no additional options, equity or equity-based grants are permitted under the LTIP or the LTIP II. The shares granted under the LTIP II will be issued at vesting under the 2004 Stock and Incentive Plan.

(5) 

The Tyco International Ltd. United Kingdom (“UK”) Savings Related Share Option Plan (“SAYE”) is a UK Inland Revenue approved plan for UK employees pursuant to which employees were granted options to purchase shares at the end of three years of service at a 15% discount off of the market price at time of grant. The SAYE Plan was approved on November 3, 1999 for a ten year period and expired according to its terms on November 3, 2009. The International Benefits Oversight Committee has not approved any additional grants since the last annual grant on October 9, 2008 and it has not applied for approval of a replacement for the SAYE Plan at this time.

(6) 

In connection with the acquisition of Broadview Security in May 2010, options outstanding under the Brink’s Home Security Holdings, Inc. 2008 Equity Incentive Plan (“2008 Equity Plan”) and the Brink’s Home Security Holdings, Inc. Non-Employee Director’s Equity Plan were converted into options to purchase Tyco common shares. Shares available represent the number of shares available for issuance under future awards from the 2008 Equity Plan, which are now available for future issuance under Tyco’s 2004 Stock and Incentive Plan.

Technical Correction to the Proposed Plan.

Section 4.9 of the Plan as proposed in the Proxy Statement mailed to Tyco shareholders on or about August 6, 2012 included a technical error. Section 4.9, as corrected, reads as follows:

4.9 Limit on Individual Grants. Subject to Sections 5.1, 5.3 and 5.4, no Participant may be granted an Award with respect to more than 6 million Shares in any calendar year, provided, that additional Awards in excess of such limitation and up to 10 million Shares may be granted to a Reporting Person who has been hired within the calendar year so long as such additional Awards are made in the form of Stock Options, Stock Appreciation Rights or Long-Term Performance Based Awards. The maximum amount that may be paid in cash or Shares to any Participant pursuant to Short-Term Performance Awards is $5 million per calendar year. The maximum amount that may be paid in cash to any Participant pursuant to Long-Term Performance Awards is $5 million per calendar year and the maximum number of Shares payable with respect to Long-Term Performance Awards shall not exceed 6 million Shares for any calendar year (or 10 million Shares in the circumstance described in the proviso of the preceding sentence) less the number of Shares related to any other Awards granted in the same calendar year to such Participant (pro rated, in each case, as appropriate over the applicable Performance Cycles).