-----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, GHjfi+ZaleZz/tXnhdhIT8TTWN/8jNhJSTnfrdULX86544FrDToZW34Z3o8lNg1y oAKEq5B5woAVdnrm28AH3g== 0000896841-08-000029.txt : 20080527 0000896841-08-000029.hdr.sgml : 20080526 20080527154545 ACCESSION NUMBER: 0000896841-08-000029 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080521 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20080527 DATE AS OF CHANGE: 20080527 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AVID TECHNOLOGY INC CENTRAL INDEX KEY: 0000896841 STANDARD INDUSTRIAL CLASSIFICATION: PHOTOGRAPHIC EQUIPMENT & SUPPLIES [3861] IRS NUMBER: 042977748 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-21174 FILM NUMBER: 08860714 BUSINESS ADDRESS: STREET 1: METROPOLITAN TECHNOLOGY PARK STREET 2: ONE PARK WEST CITY: TEWKSBURY STATE: MA ZIP: 01876 BUSINESS PHONE: 9786406789 MAIL ADDRESS: STREET 1: METROPOLITAN TECHNOLOGY PARK STREET 2: ONE PARK WEST CITY: TEWKSBURY STATE: MA ZIP: 01876 8-K 1 f8k_052708.htm FORM 8-K DATED MAY 21, 2008

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTIONS 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported): May 21, 2008

 

AVID TECHNOLOGY, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware
(State or Other Jurisdiction of
Incorporation or Organization)

0-21174  
(Commission File Number) 

04-2977748
(I.R.S. Employer
 Identification No.)

 


Avid Technology Park, One Park West, Tewksbury, MA
(Address of Principal Executive Offices)


01876
(Zip Code)


Registrant's telephone number, including area code: (978) 640-6789


                                                                                                               
(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o

Pre-commencement communications pursuant to Rule 14d-2 (b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

 

(e)        On May 21, 2008, the stockholders of Avid Technology, Inc. (the “Company”) approved the Company’s Amended and Restated 2005 Stock Incentive Plan (the “Plan”).  Under the Plan, the Company is authorized to issue, subject to adjustment in the event of stock splits and other similar events, up to 8,000,000 shares of the Company’s common stock, $0.01 par value per share (the “Common Stock”), plus:

 

 

•

an aggregate of 168,143 shares that remained available for issuance as of May 21, 2008 under the Company’s 1993 Director Stock Option Plan, as amended; the Company’s 1998 Stock Option Plan; the Company’s Amended and Restated 1999 Stock Option Plan; and the Company’s Midiman, Inc. 2002 Stock Option/Stock Issuance Plan (the “Existing Plans”); and

 

 

•

any shares subject to awards granted under the Existing Plans, which awards expire, terminate or are otherwise surrendered, canceled, forfeited or repurchased by the Company at their original issuance price pursuant to a contractual repurchase right; as of May 21, 2008, there were 1,519,437 shares subject to awards granted under the Existing Plans.

 

No further awards will be granted under the Existing Plans from and after May 21, 2008. As of May 21, 2008, 5,607,336 shares were available for issuance under the Plan.

 

The Company may grant awards under the Plan to employees, officers, directors, consultants and advisors of the Company.  Award grants under the Plan may be made in the form of incentive stock options intended to qualify under Section 422 of the Internal Revenue Code, nonstatutory stock options, restricted stock, restricted stock units, stock appreciation rights, and other stock-based awards.  The maximum number of shares of Common Stock with respect to which awards may be granted to any participant under the Plan may not exceed 1,000,000 shares per calendar year. The maximum number of shares of Common Stock with respect to which awards other than options and stock appreciation rights may be granted under the Plan may not exceed 2,000,000.

 

A description of the material terms of the Plan is included in the Company’s 2008 Proxy Statement (the “Proxy Statement”), under the caption “Proposal 3–Approval of Our Amended and Restated 2005 Stock Incentive Plan,” which description is incorporated herein by reference. That description is qualified in its entirety by reference to the complete terms and conditions of the Plan, a copy of which is included as Appendix C to the Proxy Statement.

 

 

 

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SIGNATURE

 

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: May 27, 2008

AVID TECHNOLOGY, INC.
(Registrant)

 


By:


/s/ Paige Parisi                                         
Paige Parisi
Vice President and General Counsel

 

 

 

 

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