As filed with the Securities and
Exchange Commission on August 6, 2003
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
Under
The Securities Act of 1933
NETGEAR, INC.
(Exact name of Registrant as specified in its charter)
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Delaware
(State of incorporation)
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77-0419172
(I.R.S. Employer Identification No.)
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4500 Great America Parkway
Santa Clara, California 95054
(Address, including zip code, of Registrant’s principal executive offices)
NETGEAR, INC.
2000 STOCK OPTION PLAN
2003 STOCK PLAN
2003 EMPLOYEE STOCK PURCHASE PLAN
(Full title of the plans)
Patrick C.S. Lo
Chairman and Chief Executive Officer
NETGEAR, Inc.
4500 Great America Parkway
Santa Clara, California 95054
(408) 907-8000
(Name, address, and telephone number, including area code, of agent for service)
Copies to:
John T. Sheridan, Esq.
John B. Turner, Esq.
Wilson Sonsini Goodrich & Rosati
Professional Corporation
650 Page Mill Road
Palo Alto, CA 94304-1050
(650) 493-9300
CALCULATION OF REGISTRATION FEE
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Proposed
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Proposed
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Maximum
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Maximum
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Amount
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Offering
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Aggregate
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Amount of
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Title of Securities to
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to be
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Price
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Offering
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Registration
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be Registered
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Registered (1)
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Per Share (2)
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Price (2)
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Fee
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Common Stock, $0.001
par value: Issuable
pursuant to
outstanding options
under the 2000 Stock
Option Plan, as
amended
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6,475,887
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shares
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$
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4.95
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(2)(a)
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$
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32,055,641
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$
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2,593.30
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Common Stock, $0.001
par value: Reserved
for future issuance
under the 2003 Stock
Plan
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1,624,113
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shares
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$
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14.00
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(2)(b)
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$
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22,737,582
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$
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1,839.47
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Common Stock, $0.001
par value: Reserved
for future issuance
under the 2003
Employee Stock
Purchase
Plan
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500,000
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shares
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$
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14.00
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(2)(b)
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$
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7,000,000
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$
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566.30
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(1)
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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 the Registrant’s Common Stock that become issuable
under the plans by reason of any stock dividend, stock split,
recapitalization or other similar transaction effected without receipt of
consideration that increases the number of outstanding shares of
Registrant’s Common Stock. In addition, pursuant to Rule 416(c) under the
Securities Act, this Registration Statement also covers an indeterminate
amount of interests to be offered or sold pursuant to the employee and
non-employee benefit plans described herein.
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(2)
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Estimated solely for the purpose of calculating the amount of the
registration fee pursuant to Rule 457(h) under the Securities Act. The
price per share and aggregate offering price are based upon the (a) the
weighted average exercise price for outstanding options granted pursuant
to the Registrant’s 2000 Stock Option Plan and (b) the initial public
offering price of the Registrant’s Common Stock.
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TABLE OF CONTENTS
NETGEAR, INC.
REGISTRATION STATEMENT ON FORM S-8
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
There following documents previously filed by NETGEAR, Inc. (the
“Registrant”) with the Securities and Exchange Commission are hereby
incorporated by reference in this Registration Statement:
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(1)
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The Registrant’s prospectus filed pursuant to Rule 424(b) under
the Securities Act of 1933, as amended (the “Securities Act”),
relating to the registration statement on Form S-1 (File No.
333-104419) on July 31, 2003, that contains audited financial
statements for the Registrant’s latest fiscal year for which such
statements have been filed.
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(2)
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The description of the Registrant’s Common Stock which is
contained in a registration statement on Form 8-A filed on July 25,
2003 (File No. 000-50350) under the Securities Exchange Act of 1934
(the “Exchange Act”), including any amendment or report filed for the
purpose of updating such description.
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All reports and other documents filed by the Registrant pursuant to
Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act on or after the date of
this Registration Statement and prior to the filing of a post-effective
amendment that indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, shall be deemed to be
incorporated by reference herein and to be a part of this Registration
Statement from the date of the filing of such reports and documents.
The documents incorporated by reference herein contain forward-looking
statements that involve risks and uncertainties. The Registrant’s actual
results may differ significantly from the results discussed in the
forward-looking statements. Factors that might cause such a difference
include, but are not limited to, the risks identified in the respective
documents incorporated by reference.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Our certificate of incorporation and bylaws contain provisions that limit
or eliminate the personal liability of our directors. Consequently, a director
will not be personally liable to us or our stockholders for monetary damages or
breach of fiduciary duty as a director, except for liability for:
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any breach of the director’s duty of loyalty to us or our
stockholders;
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any act or omission not in good faith or that involves
intentional misconduct or a knowing violation of law;
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any unlawful payments related to dividends or unlawful stock
repurchases, redemptions or other distributions; or
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any transaction from which the director derived an improper
personal benefit.
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The limitations of liability do not affect the availability of equitable
remedies such as injunctive relief or rescission. If Delaware law is amended
to authorize the further elimination or limiting of the liability of a
director, then the liability of our directors will be eliminated or limited to
the furthest extent permitted by Delaware law as so amended.
Our certificate of incorporation allows us to indemnify our officers,
directors and other agents to the full extent permitted by Delaware law. Our
bylaws permit us to purchase insurance on behalf of any officer, director,
employee or other agent for any liability arising out of his or her actions in
such capacity, regardless of whether Delaware law would permit indemnification,
and to provide indemnification in circumstances in which indemnification is
otherwise discretionary under Delaware law. Our bylaws specify circumstances
in which indemnification for our directors and executive officers is mandatory
and when we may be required to advance expenses before final disposition of any
litigation.
We have entered into indemnification agreements with each of our directors
and officers that are, in some cases, broader than the specific indemnification
provisions permitted by Delaware law, and that may provide additional
procedural protection. The indemnification agreements require us, among other
things, to:
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indemnify officers and directors against certain liabilities
that may arise because of their status as officers or directors;
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advance expenses, as incurred, to officers and directors in
connection with a legal proceeding, subject to limited exceptions;
and
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in certain cases obtain directors’ and officers’ insurance.
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At present, there is no pending litigation or proceeding involving any of
our directors, officers or employees in which indemnification is sought, nor
are we aware of any threatened litigation or proceeding that may result in
claims for indemnification.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
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Exhibit
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Number
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5.1
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Opinion of Wilson Sonsini Goodrich & Rosati as to legality of securities being registered.
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10.1
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2000 Stock Option Plan and forms of agreements thereunder, as amended.*
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10.2
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2003 Stock Plan and forms of agreements thereunder.*
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10.3
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2003 Employee Stock Purchase Plan and forms of agreements thereunder.*
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23.1
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Consent of Deloitte & Touche LLP, Independent Auditors.
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23.2
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Consent of PricewaterhouseCoopers LLP, Independent Accountants.
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23.3
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Consent of Wilson Sonsini Goodrich & Rosati, P.C. (Included in Exhibit 5.1).
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24.1
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Power of Attorney (See page 5).
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Documents incorporated by reference from the Registrant’s Registration
Statement of Form S-1, as amended (333-104419), originally filed with the
Securities and Exchange Commission on April 10, 2003.
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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.
(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.
Notwithstanding the foregoing, any increase or decrease in volume of securities
offered (if the total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of prospectus
filed with the Securities and Exchange Commission pursuant to Rule 424(b) under
the Securities Act if, in the aggregate, the changes in volume and price
represent no more than a 20% change in the maximum aggregate offering price set
forth in the “Calculation of Registration Fee” table in the effective
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) above do not
apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in periodic reports filed with or furnished to
the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the
Exchange Act that are incorporated by reference in this Registration Statement.
(2) That, for the purpose of determining any liability under the
Securities Act, 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, each filing of the
Registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the
Exchange Act (and, where applicable, each filing of an employee benefit plan’s
annual report pursuant to Section 15(d) of the Exchange Act) 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 may be permitted to directors, officers and controlling persons
of the Registrant, 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 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
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asserted by such director, officer or controlling person in connection
with the securities being registered hereunder, 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 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, as amended,
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 Santa Clara, State of California, on
August 6,
2003.
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NETGEAR, INC
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By:
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/s/ Patrick C.S. Lo
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Patrick C.S. Lo
Chairman and Chief Executive Officer
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POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature
appears below hereby constitutes and appoints Patrick C.S. Lo and Jonathan
Mather, and each of them acting individually, as his true and lawful
attorneys-in-fact and agents, each with full power of substitution, for him in
any and all capacities, to sign any and all amendments to this Registration
Statement on Form S-8 (including post-effective amendments), and to file the
same, with all exhibits thereto and other documents in connection therewith,
with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents, with full power of each to act alone, full power
and authority to do and perform each and every act and thing requisite and
necessary to be done in connection therewith, as fully for all intents and
purposes as he might or could do in person, hereby ratifying and confirming all
that said attorneys-in-fact and agents, or his or their 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 below by the following persons in the
capacities and on the dates indicated.
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Signature
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Title
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Date
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/s/ Patrick C.S. Lo
Patrick C.S. Lo
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Chairman and Chief Executive Officer
(Principal Executive Officer)
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August 6, 2003
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/s/ Jonathan Mather
Jonathan Mather
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Vice President and Chief Financial Officer
(Principal Financial and
Accounting Officer)
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August 6, 2003
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/s/ Ralph E. Faison
Ralph E. Faison
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Director
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August 6, 2003
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/s/ A. Timothy Godwin
A. Timothy Godwin
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Director
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August 6, 2003
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/s/ Linwood A. Lacy, Jr.
Linwood A. Lacy, Jr.
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Director
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August 6, 2003
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Signature
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Title
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Date
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/s/ Gerald A. Poch
Gerald A. Poch
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Director
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August 6, 2003
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/s/ Gregory J. Rossmann
Gregory J. Rossmann
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Director
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August 6, 2003
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/s/ Stephen D. Royer
Stephen D. Royer
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Director
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August 6, 2003
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-6-
NETGEAR, INC.
INDEX TO EXHIBITS
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Exhibit
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Number
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Description
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5.1
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Opinion of Wilson Sonsini Goodrich & Rosati as to legality of securities being registered.
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10.4
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2000 Stock Option Plan and forms of agreements thereunder, as amended.*
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10.5
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2003 Stock Plan and forms of agreements thereunder.*
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10.6
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2003 Employee Stock Purchase Plan and forms of agreements thereunder.*
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23.1
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Consent of Deloitte & Touche LLP, Independent Auditors.
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23.2
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Consent of PricewaterhouseCoopers LLP, Independent Accountants.
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23.3
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Consent of Wilson Sonsini Goodrich & Rosati, P.C. (Included in Exhibit 5.1).
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24.2
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Power of Attorney (See page 5).
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Documents incorporated by reference from the Registrant’s Registration
Statement of Form S-1, as amended (333-104419), originally filed with the
Securities and Exchange Commission on April 10, 2003.
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EXHIBIT 5.1
August 6, 2003
NETGEAR, Inc.
2500 Great America Parkway
Santa Clara, CA 95054
RE: REGISTRATION STATEMENT ON FORM S-8
Ladies and Gentlemen:
We have examined the Registration Statement on Form S-8 (the
"Registration Statement") to be filed by NETGEAR, Inc., a Delaware corporation
(the "Company" or "you"), with the Securities and Exchange Commission on August
6, 2003, in connection with the registration under the Securities Act of 1933,
as amended (the "Act"), of 8,600,000 shares of NETGEAR, Inc. Common Stock (the
"Plan Shares") reserved for issuance under options or stock purchase rights
granted or to be granted pursuant to the Company's 2000 Stock Option Plan, as
amended, 2003 Stock Plan and 2003 Employee Stock Purchase Plan (collectively,
the "Plans"). As your counsel in connection with the transaction, we have
examined the proceedings taken and are familiar with the proceedings proposed to
be taken by you in connection with the proposed sale and issuance of the Plan
Shares.
It is our opinion that, when issued and sold in compliance with the
applicable prospectus delivery requirements and in the manner referred to in the
Plans and pursuant to the agreements that accompany the Plans, and upon
completion of the actions being taken or proposed to be taken to permit such
transactions to be carried out in accordance with the securities laws of the
various states where required, the Plan Shares, when issued and sold in the
manner described under the Plans and the agreements that accompany the Plans,
will be legally and validly issued, fully paid and non-assessable.
We consent to the use of this opinion as an exhibit to the Registration
Statement and further consent to the use of our name wherever appearing in the
Registration Statement, including any Prospectus constituting a part thereof,
and any amendments or supplements thereto.
Very truly yours,
/s/ Wilson Sonsini Goodrich & Rosati, P.C.
WILSON SONSINI GOODRICH & ROSATI
Professional Corporation
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