<PAGE>
As filed with the Securities and Exchange Commission on October 7, 1997
Registration No. 333-_____
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
______________________________________________
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
______________________________________________
BEA SYSTEMS, INC.
(Exact name of Registrant as Specified in Its Charter)
______________________________________________
DELAWARE 77-0394711
(State or Other Jurisdiction (I.R.S. Employer
of Incorporation or Organization) Identification No.)
385 MOFFETT PARK DRIVE, SUITE 105
SUNNYVALE, CA 94089
(Address of Principal Executive Offices)
1995 FLEXIBLE STOCK INCENTIVE PLAN
1997 STOCK INCENTIVE PLAN
(Full Title of the Plans)
______________________________________________
WILLIAM T. COLEMAN III
CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER
BEA SYSTEMS, INC.
385 MOFFETT PARK DRIVE, SUITE 105
SUNNYVALE, CA 94089
(Name and Address of Agent for Service)
(408) 743-4000
(Telephone Number, Including Area Code, of Agent For Service)
Copy to:
MICHAEL C. PHILLIPS, ESQ.
KEVIN A. FAULKNER, ESQ.
CORI M. ALLEN, ESQ.
MORRISON & FOERSTER LLP
755 PAGE MILL ROAD
PALO ALTO, CA 94304
(415) 813-5600
__________________________________________________
CALCULATION OF REGISTRATION FEE
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Proposed
Maximum Proposed
Title of Amount Maximum Aggregate Amount of
Securities to to be Offering Price Offering Registration
be Registered Registered(1) Per Share(2) Price(2) Fee
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Common Stock,
$.001 par value
per share 14,700,000 $18 $264,600,000 $80,182
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(1) Includes 9,600,000 shares of Common Stock to be registered under the 1995
Flexible Stock Incentive Plan and 5,100,000 shares of Common Stock to be
registered under the 1997 Stock Incentive Plan.
(2) Estimated solely for the purpose of calculating the registration fee
pursuant to Rule 457(h) and Rule 457(c) under the Securities Act, the
proposed maximum offering price per share and the proposed aggregate maximum
offering price have been determined on the basis of the high and low prices
quoted on Nasdaq NMS on October 1, 1997.
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Page 1 of 11 pages.
The Index to Exhibits appears on page II-8.
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PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.
The following documents filed by BEA Systems, Inc. (the "Registrant")
with the Securities and Exchange Commission (the "Commission") are
incorporated by reference herein:
(a) The Registrant's Prospectus filed pursuant to Rule 424(b) of the
Securities Act of 1933, as amended, and included in the Registration
Statement on Form SB-2 (the "Registration Statement") as declared effective
on July 22, 1997 (No. 333-29961), which includes audited financial statements
for the Registrant's latest fiscal year.
(b) The Registrant's Quarterly Reports on Form 10-Q filed with the
Securities and Exchange Commission on June 13, 1997 and September 15, 1997.
(c) All other reports filed by the Registrant pursuant to Section 13(a)
or 15(d) of the Securities Exchange Act of 1934 (the "Exchange Act") since
the end of the fiscal year covered by the audited financial statements
described in (a) above.
(d) The description of the Registrant's Common Stock which is contained
in its Registration Statement on Form 8-A dated April 10, 1997 filed under
the Exchange Act, including any amendment or report filed for the purpose of
updating such description.
All documents filed by the Registrant with the Commission pursuant to
Section 13(a), 13(c), 14 or 15(d) of the Exchange Act, 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 into this Registration Statement and
to be a part hereof from the date of filing of such documents. Any statement
contained in a document incorporated by reference herein shall be deemed to
be modified or superseded for purposes of this Registration Statement to the
extent that a statement contained herein or in any other subsequently filed
document which also is or is 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 4. DESCRIPTION OF SECURITIES.
Not applicable.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.
Not applicable.
II-1
Page 2 of 14 Pages
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ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.
Section 145 ("Section 145") of the Delaware General Corporation Law
("DGCL") provides a detailed statutory framework covering indemnification of
officers and directors against liabilities and expenses arising out of legal
proceedings brought against them by reason of their being or having been
directors or officers. Section 145 generally provides that a director or
officer of a corporation (i) shall be indemnified by the corporation for all
expenses of such legal proceedings when he is successful on the merits, (ii)
may be indemnified by the corporation for the expenses, judgments, fines and
amounts paid in settlement of such proceedings (other than a derivative
suit), even if he is not successful on the merits, if he acted in good faith
and in a manner he reasonably believed to be in or not opposed to the best
interests of the corporation, and, with respect to any criminal action or
proceeding, had no reasonable cause to believe his conduct was unlawful, and
(iii) may be indemnified by the corporation for the expenses of a derivative
suit (a suit by a stockholder alleging a breach by a director or officer of a
duty owed to the corporation), even if he is not successful on the merits, if
he acted in good faith and in a manner he reasonably believed to be in or not
opposed to the best interests of the corporation. No indemnification may be
made under clause (iii) above, however, if the director or officer is
adjudged liable for negligence or misconduct in the performance of his duties
to the corporation, unless a corporation determines that, despite such
adjudication, but in view of all the circumstances, he is entitled to
indemnification. The indemnification described in clauses (ii) and (iii)
above may be made only upon a determination that indemnification is proper
because the applicable standard of conduct has been met. Such a
determination may be made by a majority of a quorum of disinterested
directors, independent legal counsel, the stockholders or a court of
competent jurisdiction. The Company's Certificate of Incorporation provides
that the Company shall indemnify to the fullest extent permitted by Section
145, as it now exists or as amended, all persons whom it may indemnify
pursuant thereto.
Section 102(b)(7) of the DGCL permits a corporation to provide in its
Certificate of Incorporation that a director of the corporation shall not be
personally liable to the corporation or its stockholders for monetary damages
for breach of fiduciary duty as a director, except for liability (i) for any
breach of the director's 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 DGCL, or (iv) for any transaction from which the director derived an
improper personal benefit. The Company's Certificate of Incorporation
provides for the elimination of personal liability of a director for breach
of fiduciary duty, as permitted by Section 102(b)(7) of the DGCL.
Section 8 of the Form of Underwriting Agreement, attached as Exhibit 1.1
to the Registration Statement on Form SB-2, contains certain provisions
relating to indemnification.
The Company has obtained liability insurance insuring the Company's
officers and directors against liabilities that they may incur in such
capacities.
II-2
Page 3 of 14 Pages
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The Company has entered into agreements to indemnify its directors and
executive officers, in addition to indemnification provided for in the
Company's charter documents. These agreements, among other things, provide
for the indemnification of the Company's directors and executive officers for
certain expenses (including attorneys' fees), judgments, fines and settlement
amounts incurred by any such person in any action or proceeding, including
any action by or in the right of the Company, arising out of such person's
services as a director or executive officer of the Company, any subsidiary of
the Company or any other company or enterprise to which such person provides
services at the request of the Company to the fullest extent permitted by
applicable law. The Company believes that these provisions and agreements
will assist the Company in attracting and retaining qualified persons to
serve as directors and executive officers.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.
Not applicable.
II-3
Page 4 of 14 Pages
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ITEM 8. EXHIBITS.
4.1 Form of Amended and Restated Certificate of Incorporation of the
Registrant (incorporated by reference to Exhibit 3.5 to the
Registrant's Registration Statement on Form SB-2 (Commission File No.
333-20791) which became effective on April 10, 1997 (the "Registration
Statement on Form SB-2")).
4.2 Registrant's Amended and Restated Bylaws (incorporated by reference to
Exhibit 3.3 to the Registration Statement on Form SB-2).
4.3 1995 Flexible Stock Incentive Plan and 1997 Stock Incentive Plan and
form of Stock Option Agreements (incorporated by reference to
Exhibit 10.11 and 10.14 to the Registration Statement on Form SB-2).
5.1 Opinion of Morrison & Foerster LLP.
23.1 Consent of Morrison & Foerster LLP (contained in Exhibit 5.1).
23.2 Consent of Ernst & Young LLP, independent auditors.
23.3 Consent of Ernst & Young LLP, independent auditors.
23.4 Consent of Ernst & Young LLP, independent auditors.
23.5 Consent of Ernst & Young Audit, independent auditors.
24.1 Power of Attorney (See page II-6).
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;
(iii) To include any material information with respect to the
plan of distribution not previously disclosed in this Registration Statement
or any material change to such information in the Registration Statement.
II-4
Page 5 of 14 Pages
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PROVIDED, HOWEVER, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if
this Registration Statement is on Form S-3 or Form S-8 and the information
required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed 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 herein, 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 pursuant to the foregoing provisions or otherwise,
the Registrant has been advised that in the opinion of the 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 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 and will be governed by the final adjudication of such issue.
II-5
Page 6 of 14 Pages
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended,
BEA Systems, Inc. certifies that it has reasonable grounds to believe that it
meets all 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 Sunnyvale, State of California, on
October 7, 1997.
BEA SYSTEMS, INC.
By: /s/ William T. Coleman III
-----------------------------------------
William T. Coleman III
Chairman, President and Chief Executive
Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature
appears below constitutes and appoints, severally and not jointly, William T.
Coleman III, Edward W. Scott, Jr., Alfred S. Chuang, and Steve L. Brown, with
full power to act alone, his true and lawful attorneys-in-fact, with the
power of substitution, for him and in his name, place and stead, in any and
all capacities, to sign any and all amendments (including post-effective
amendments) 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 said attorneys-in-fact full
power and authority to do and perform each and every act and thing requisite
and necessary to be done as fully to all intents and purposes as he might or
could do in person, hereby ratifying and confirming all that said
attorneys-in-fact 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:
<TABLE>
<CAPTION>
Signature Title Date
--------- ----- ----
<S> <C> <C>
President, Chief Executive October 7, 1997
Officer and Director (PRINCIPAL
/s/ William T. Coleman III EXECUTIVE OFFICER)
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William T. Coleman III
II-6
Page 7 of 14 Pages
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Chief Financial Officer and October 7, 1997
Executive Vice President
(PRINCIPAL FINANCIAL AND
/s/ Steve L. Brown ACCOUNTING OFFICER)
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Steve L. Brown
/s/ Edward W. Scott, Jr. Director October 7, 1997
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Edward W. Scott, Jr.
/s/ William H. Janeway Director October 7, 1997
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William H. Janeway
/s/ Stewart K.P. Gross Director October 7, 1997
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Stewart K.P. Gross
/s/ Cary J. Davis Director October 7, 1997
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Cary J. Davis
/s/ Carol Bartz Director October 7, 1997
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Carol Bartz
/s/ Dean Morton Director October 7, 1997
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Dean Morton
</TABLE>
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<TABLE>
<CAPTION>
EXHIBIT SEQUENTIAL
NUMBER DESCRIPTION PAGE NO.
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<S> <C> <C>
4.1 Form of Amended and Restated Certificate of Incorporation of the Registrant
(incorporated by reference to Exhibit 3.5 to the Registrants' Registration
Statement on Form SB-2 (Commission File No. 333-20791 which became
effective on April 10, 1997 (the "Registration Statement on Form SB-2")).
4.2 Registrant's Amended and Restated Bylaws (incorporated by reference to
Exhibit 3.3 to the Registration Statement on Form SB-2).
4.3 1995 Flexible Stock Incentive Plan and 1997 Stock Incentive Plan and form
of Stock Option Agreements (incorporated by reference to Exhibit 10.5 to
the Registration Statement on Form SB-2).
5.1 Opinion of Morrison & Foerster LLP. 10
23.1 Consent of Morrison & Foerster LLP (contained in Exhibit 5.1). 10
23.2 Consent of Ernst & Young LLP, independent auditors. 11
23.3 Consent of Ernst & Young LLP, independent auditors. 12
23.4 Consent of Ernst & Young LLP, independent auditors. 13
23.5 Consent of Ernst & Young Audit, independent auditors. 14
24.1 Power of Attorney (See page II-6). 7
</TABLE>
II-8
Page 9 of 14 Pages
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Exhibit 5.1
MORRISON & FOERSTER LLP
Palo Alto, California
October 7, 1997
BEA Systems, Inc.
385 Moffett Park Drive, Suite 105
Sunnyvale, CA 94084
Gentlemen:
At your request, we have examined the Registration Statement on Form S-8
executed by you on October 7, 1997, and to be filed with the Securities and
Exchange Commission (the "SEC") in connection with the registration under the
Securities Act of 1933, as amended, of an aggregate of 14,700,000 shares of
your common stock, $.001 par value (the "Common Stock") which will be
issuable under the 1995 Flexible Stock Incentive Plan and 1997 Stock
Incentive Plan (the "Plans").
As your counsel in connection with the Registration Statement, we have
examined the proceedings taken by you in connection with the adoption of the
Plans and the authorization of the issuance of the shares of Common Stock
under the Plan (the "Plan Shares") and such documents as we have deemed
necessary to render this opinion.
Based upon the foregoing, it is our opinion that the Plan Shares, when
issued and outstanding pursuant to the terms of the Plans, will be validly
issued, fully paid and nonassessable shares of Common Stock.
We consent to the use of this opinion as an exhibit to the Registration
Statement.
Very truly yours,
/s/ Morrison & Foerster LLP
Page 10 of 14 Pages
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Exhibit 23.2
CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration Statement
(Form S-8) pertaining to the 1995 Flexible Stock Incentive Plan and 1997
Stock Incentive Plan of BEA Systems, Inc. of our report dated March 10, 1997,
except for Note 14 as to which the date is March 19, 1997, with respect to
the consolidated financial statements of BEA Systems, Inc., included in its
Registration Statement (Form SB-2, No. 333-29961) and related Prospectus,
filed with the Securities and Exchange Commission.
/s/ ERNST & YOUNG LLP
Palo Alto, California
October 3, 1997
<PAGE>
Exhibit 23.3
CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration Statement
(Form S-8) pertaining to the 1995 Flexible Stock Incentive Plan and 1997
Stock Incentive Plan of BEA Systems, Inc. of our report dated January 10,
1997, with respect to the financial statements of Information Management
Company, included in the Registration Statement (Form SB-2, No. 333-29961) and
related Prospectus of BEA Systems, Inc. filed with the Securities and
Exchange Commission.
/s/ ERNST & YOUNG LLP
Metro Park, New Jersey
October 3, 1997
<PAGE>
Exhibit 23.4
CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration Statement
(Form S-8) pertaining to the 1995 Flexible Stock Incentive Plan and 1997
Stock Incentive Plan of BEA Systems, Inc. of our report dated January 20,
1997, with respect to the financial statements of Independence Technologies,
Inc., included in the Registration Statement (Form SB-2, No. 333-29961) and
related Prospectus of BEA Systems, Inc. filed with the Securities and
Exchange Commission.
/s/ ERNST & YOUNG LLP
Palo Alto, California
October 3, 1997
<PAGE>
Exhibit 23.5
CONSENT OF ERNST & YOUNG AUDIT, INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration Statement
(Form S-8) pertaining to the 1995 Flexible Stock Incentive Plan and 1997
Stock Incentive Plan of BEA Systems, Inc. of our report dated December 24,
1996, with respect to the consolidated financial statements of USL Finance
S.A., included in the Registration Statement (Form SB-2, No. 333-29961) and
related Prospectus of BEA Systems, Inc. filed with the Securities and
Exchange Commission.
/s/ ERNST & YOUNG Audit
Paris, France
October 3, 1997
