As filed with the Securities and Exchange Commission June 11, 2014
File No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE
SECURITIES ACT OF 1933
BOSTON SCIENTIFIC CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware |
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04-2695240 |
(State or other jurisdiction of incorporation or organization) |
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(I.R.S. Employer Identification Number) |
One Boston Scientific Place
Natick, Massachusetts 01760-1537
(Address of Principal Executive Offices)
2006 Global Employee Stock Ownership Plan, as amended and restated
(Full title of the plan)
Timothy A. Pratt
Executive Vice President, Chief Administrative Officer, General Counsel and Secretary
Boston Scientific Corporation
One Boston Scientific Place
Natick, Massachusetts 01760-1537
(Name and address of agent for service)
(508) 650-8000
(Telephone number, including area code, of agent for service)
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer |
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x |
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Accelerated filer |
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o |
Non-accelerated filer |
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o |
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Smaller reporting company |
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o |
(Do not check if a smaller reporting company) |
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CALCULATION OF REGISTRATION FEE
Title of Securities |
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Amount to be |
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Proposed Maximum |
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Proposed Maximum |
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Amount of |
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Common Stock, $0.01 par value |
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15,000,000 Shares |
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$ |
12.67 |
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$ |
190,050,000 |
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$ |
24,478.44 |
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(1) This registration statement on Form S-8 (the Registration Statement) relates to shares of common stock, par value $0.01 per share (the Common Stock), of Boston Scientific Corporation (the Registrant) to be issued under the Boston Scientific Corporation 2006 Global Employee Stock Ownership Plan, as amended and restated (the Plan). Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the Securities Act), this Registration Statement shall also cover any additional shares of Common Stock that become issuable under the Plan by reason of any stock dividend, stock split, recapitalization or any other similar transaction effected without the receipt of consideration which results in an increase in the number of the Registrants outstanding shares of Common Stock.
(2) This estimate is made pursuant to Rule 457(h) and Rule 457(c) under the Securities Act solely for the purpose of determining the registration fee. It is not known how many shares will be issued under the Plan. The above calculation is based on the offering of 15,000,000 shares of Common Stock at a purchase price of $12.67 per share, which is the average of the high and low prices of the Registrants Common Stock as reported in the New York Stock Exchange on June 10, 2014, which were $12.86 and $12.47, respectively.
EXPLANATORY NOTE
This Registration Statement is being filed solely for the purpose of registering 15,000,000 additional shares of Common Stock of Boston Scientific Corporation issuable pursuant to the Plan. Issuance of the additional shares was approved by the Registrants Board of Directors on February 25, 2014 and by the Registrants stockholders on May 6, 2014. Pursuant to General Instruction E to Form S-8, this Registration Statement incorporates by reference, except to the extent supplemented, amended or superseded by the information set forth herein, the entire contents of the prior registration statements on Form S-8 filed June 9, 2006 (File Number 333-134932) and May 31, 2011 (File Number 333-174620).
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3: Incorporation of Documents by Reference
The following documents filed by the Registrant with the Securities and Exchange Commission (the Commission) are hereby incorporated by reference in this Registration Statement (excluding any portions of such documents that may have been furnished but not filed for purposes of the Securities Exchange Act 1934, as amended (the Exchange Act)):
1. The Registrants Annual Report on Form 10-K filed on February 26, 2014 for the year ended December 31, 2013;
2. The Registrants Quarterly Report on Form 10-Q filed on May 8, 2014 for the quarter ended March 31, 2014;
3. The Registrants Current Reports on Form 8-K filed on March 3, 2014, May 8, 2014, and May 15, 2014;
4. Portions of the Registrants Proxy Statement on Schedule 14A filed on March 25, 2014 that are incorporated by reference into Part III of the Registrants Annual Report on Form 10-K for the year ended December 31, 2013; and
5. The description of the Registrants Common Stock under the heading Description of Common Stock contained in the Registration Statement on Form S-3 (Registration No. 333-132626) as originally filed by the Registrant with the Commission under the Securities Act on March 22, 2006, including any reports filed that updated such description.
In addition, all documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all of such securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing of such documents.
Any statement in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for the purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 6. Indemnification of Directors and Officers.
The Registrant is incorporated under the laws of the State of Delaware. Section 102(b)(7) of the Delaware General Corporation Law permits a corporation to include in its certificate of incorporation a provision eliminating or limiting the personal liability of a director to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, provided, however, that such provision shall not eliminate or limit the liability of a director (i) for any breach of the directors duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the Delaware General Corporation Law, which relates to unlawful payment of dividends and unlawful stock purchases and redemptions, or (iv) for any transaction from which the director derived an improper personal benefit. No such provision shall eliminate or limit the liability of a director for any act or omission occurring prior to the date when such provision becomes effective.
Section 145 of the Delaware General Corporation Law provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation), by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or proceeding, provided such person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the corporations best interests and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful.
In addition, Section 145 of the Delaware General Corporation Law also provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit, provided the person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the corporations best interests, except that no indemnification shall be made in respect of any claim, issue or matter as to which the person shall have been adjudged to be liable to the corporation unless and only to the extent that the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper.
Section 145 of the Delaware General Corporation Law further provides that a corporation may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against any liability asserted against the person and incurred by the person in any such capacity, or arising out of the persons status as such, whether or not the corporation would otherwise have the power to indemnify the person against such liability under Section 145 of the Delaware General Corporation Law.
The Registrants Third Restated Certificate of Incorporation and Restated By-Laws provide that the Registrant will indemnify to the fullest extent permitted by the Delaware General Corporate Law any
person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding (whether civil, criminal, administrative, investigative or other proceedings) by reason of the fact that the person is or was a director, officer, employee or other agent of the Registrant, or is or was serving as a director, officer, employee or other agent of any corporation, partnership, joint venture, trust or other enterprise at the request of the Registrant, except that if such proceeding was initiated by the person (except for any proceedings seeking to enforce the rights to indemnification provided by the Third Restated Certificate of Incorporation and Restated By-Laws), such indemnification shall only be provided if the proceeding was authorized by the Registrants Board of Directors.
In addition, the Registrant has indemnification agreements in place with its directors and certain officers, including all executive officers, which sets forth the details of the Registrants indemnification obligations to such persons, including mechanics of the payment of expenses and obligations of the parties in the event of a change of control.
All of the Registrants directors and officers are covered by an insurance policy maintained by the Registrant against specified liabilities for actions taken in their capacities as such, including liabilities under the Securities Act.
Item 8: Exhibits
The following exhibits are filed as part of this Registration Statement:
4.1 |
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Boston Scientific Corporation 2006 Global Employee Stock Ownership Plan, as amended and restated (Annex B to Definitive Proxy Statement filed March 25, 2014, File No. 1-11083).# |
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5.1 * |
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Opinion of Bingham McCutchen LLP. |
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23.1 * |
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Consent of Ernst & Young LLP. |
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23.2 |
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Consent of Bingham McCutchen LLP (contained in Exhibit 5.1 hereto). |
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24 |
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Power of Attorney (contained on the signature page of this Registration Statement). |
* |
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Filed herewith. |
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# |
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Compensatory plan or arrangement. |
SIGNATURES
Pursuant to the requirements of the Securities Act, 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 Natick, The Commonwealth of Massachusetts on the 11th day of June, 2014.
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BOSTON SCIENTIFIC CORPORATION | |
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By: |
/s/ Daniel J. Brennan |
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Daniel J. Brennan |
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Executive Vice President and Chief Financial Officer |
We, the undersigned officers and directors of Boston Scientific Corporation, hereby severally constitute and appoint Timothy A. Pratt and Vance R. Brown, and each of them singly, our true and lawful attorneys with full power to them, and each of them singly, to sign for us and in our names in the capacities indicated below the Registration Statement on Form S-8 filed herewith and any and all pre-effective and post-effective amendments to this Registration Statement, and generally to do all such things in our names and on our behalf in our capacities as officers and directors to enable Boston Scientific Corporation to comply with the provisions of the Securities Act of 1933, and all requirements of the Securities and Exchange Commission, hereby ratifying and confirming our signatures, as they may be signed by our said attorneys or any of them, to said Registration Statement and any and all amendments thereto.
Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the date indicated.
SIGNATURE |
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TITLE |
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DATE |
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/s/ Michael F. Mahoney |
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Director, President and Chief Executive Officer |
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June 11, 2014 |
Michael F. Mahoney |
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(Principal Executive Officer) |
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/s/ Daniel J. Brennan |
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Executive Vice President and |
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June 11, 2014 |
Daniel J. Brennan |
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Chief Financial Officer |
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(Principal Financial and Accounting Officer) |
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/s/ Bruce L. Byrnes |
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Bruce L. Byrnes |
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Director |
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June 11, 2014 |
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/s/ Nelda J. Connors |
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Nelda J. Connors |
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Director |
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June 11, 2014 |
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/s/ Kristina M. Johnson |
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Kristina M. Johnson |
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Director |
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June 11, 2014 |
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/s/ Edward J. Ludwig |
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Edward J. Ludwig |
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Director |
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June 11, 2014 |
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/s/ Ernest Mario |
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Ernest Mario |
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Director |
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June 11, 2014 |
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/s/ N.J. Nicholas, Jr. |
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N.J. Nicholas, Jr. |
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Director |
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June 11, 2014 |
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/s/ Pete M. Nicholas |
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Pete M. Nicholas |
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Director, Founder and Chairman of the Board |
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June 11, 2014 |
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/s/ Uwe E. Reinhardt |
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Uwe E. Reinhardt |
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Director |
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June 11, 2014 |
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/s/ David J. Roux |
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David J. Roux |
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Director |
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June 11, 2014 |
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/s/ John E. Sununu |
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John E. Sununu |
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Director |
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June 11, 2014 |
EXHIBIT INDEX
4.1 |
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Boston Scientific Corporation 2006 Global Employee Stock Ownership Plan, as amended and restated (Annex B to Definitive Proxy Statement filed March 25, 2014 File No. 1-11083).# |
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5.1* |
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Opinion of Bingham McCutchen LLP. |
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23.1* |
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Consent of Ernst & Young LLP. |
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23.2 |
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Consent of Bingham McCutchen LLP (contained in Exhibit 5.1 hereto). |
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24 |
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Power of Attorney (contained on the signature page of this Registration Statement). |
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Filed herewith. |
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Compensatory plan or arrangement. |
EXHIBIT 5.1
OPINION AND CONSENT OF LEGAL COUNSEL
BINGHAM MCCUTCHEN LLP
One Federal Street
Boston, Massachusetts 02110
June 11, 2014
Boston Scientific Corporation
One Boston Scientific Place
Natick, MA 01760
Re: Registration Statement on Form S-8 Under the Securities Act of 1933, as amended
Dear Sir or Madam:
We have acted as counsel for Boston Scientific Corporation, a Delaware corporation (the Company), in connection with the Companys Registration Statement on Form S-8 to be filed with the Securities and Exchange Commission on June 11, 2014 (the Registration Statement).
The Registration Statement covers the registration of up to 15,000,000 additional shares of common stock, $0.01 par value per share, of the Company (the Shares), which are to be issued by the Company pursuant to the Companys 2006 Global Employee Stock Ownership Plan, as amended and restated (the Plan).
We have reviewed the corporate proceedings of the Company with respect to the authorization of the Plan and the issuance of the Shares thereunder. We have also examined and relied upon originals or copies of such agreements, instruments, corporate records, certificates, and other documents as we have deemed necessary or appropriate as a basis for the opinion hereinafter expressed. In our examination, we have assumed the genuineness of all signatures, the conformity to the originals of all documents reviewed by us as copies, the authenticity and completeness of all original documents reviewed by us in original or copy form, and the legal competence of each individual executing any document. As to all matters of fact (including factual conclusions and characterizations and descriptions of purpose, intention or other state of mind) we have relied entirely upon certificates of officers of the Company, and have assumed, without independent inquiry, the accuracy of those certificates.
We further assume that all Shares will be issued in accordance with the terms of the Plan and that the purchase price of the Shares will be greater than or equal to the par value per share of the Shares.
This opinion is limited solely to the Delaware General Corporation Law.
Based upon and subject to the foregoing, we are of the opinion that the Shares, when issued and delivered pursuant to the Plan and against the payment of the purchase price therefor, will be validly issued, fully paid, and nonassessable.
We hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving this consent, we do not thereby admit that we come within the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended, or the Rules and Regulations of the Securities and Exchange Commission thereunder.
Very truly yours,
/s/ Bingham McCutchen LLP
BINGHAM MCCUTCHEN LLP
EXHIBIT 23.1
Consent of Independent Registered Public Accounting Firm
We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the 2006 Global Employee Stock Ownership Plan, as amended and restated, of Boston Scientific Corporation of our reports dated February 26, 2014, with respect to the consolidated financial statements and schedule of Boston Scientific Corporation and the effectiveness of internal control over financial reporting of Boston Scientific Corporation, included in its Annual Report (Form 10-K) for the year ended December 31, 2013, filed with the Securities and Exchange Commission.
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/s/ Ernst & Young LLP |
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Boston, Massachusetts |
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June 11, 2014 |
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