PROXICOM INC
S-8, 2000-01-31
COMPUTER PROGRAMMING SERVICES
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<PAGE>   1
    AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 31, 2000

                                                   Registration No. 333-________

================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                            ------------------------

                                    FORM S-8
                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933

                            ------------------------

                                 PROXICOM, INC.
             (Exact name of registrant as specified in its charter)

                                    DELAWARE
                         (State or other jurisdiction of
                         incorporation or organization)

                                   52-1770631
                      (I.R.S. Employer Identification No.)

                           11600 SUNRISE VALLEY DRIVE
                                RESTON, VA 20191
                                 (703) 262-3200
               (Address, including zip code, and telephone number,
                 including area code, of registrant's principal
                               executive offices)

                            ------------------------

                      PROXICOM, INC. 1996 STOCK OPTION PLAN
                            (Full title of the Plan)

                            ------------------------

                               CHRISTOPHER CAPUANO
              SENIOR VICE PRESIDENT, GENERAL COUNSEL AND SECRETARY
                                 PROXICOM, INC.
                           11600 SUNRISE VALLEY DRIVE
                                RESTON, VA 20191
                                 (703) 262-3200

 (Name, address and telephone number, including area code, of agent for service)

                                    Copy to:
                            JOSEPH G. CONNOLLY, ESQ.
                             HOGAN & HARTSON L.L.P.
                           555 THIRTEENTH STREET, N.W.
                           WASHINGTON, D.C. 20004-1109
                                 (202) 637-5600

                            ------------------------

                         CALCULATION OF REGISTRATION FEE

<TABLE>
<CAPTION>
=======================================================================================================================
                                                 AMOUNT         PROPOSED MAXIMUM     PROPOSED MAXIMUM      AMOUNT OF
           TITLE OF SECURITIES                   TO BE           OFFERING PRICE     AGGREGATE OFFERING   REGISTRATION
             TO BE REGISTERED                  REGISTERED        PER SHARE (1)           PRICE (1)          FEE (1)
- -----------------------------------------------------------------------------------------------------------------------
<S>                                            <C>              <C>                 <C>                  <C>
Common Stock                                   7,000,000            $111.16           $778,120,000.00     $205,424.00
- -----------------------------------------------------------------------------------------------------------------------
=======================================================================================================================
</TABLE>

(1) Estimated pursuant to Rule 457(c) and (h) solely for purposes of calculating
the amount of registration fee. The proposed maximum offering price per share
was determined by calculating the weighted average exercise price of 7,000,000
shares of Common Stock being offered at an exercise price of $111.16 based on
the average of the high and low prices per share of the Common Stock on January
25, 2000, as reported on The Nasdaq National Market.

================================================================================
- --------------------------------------------------------------------------------


<PAGE>   2

                  Pursuant to Instruction E of Form S-8, this registration
statement is being filed to register additional securities of the same class as
were registered on the Form S-8 filed by the Registrant on May 28, 1999, SEC
Registration No. 333-79525, the contents of which are incorporated by reference
herein.

                  On December 26, 1999, the Company's Board of Directors
approved and adopted an amendment to Section 4.2 of the Proxicom, Inc. 1996
Stock Option Plan (the "Plan") to increase the number of shares of common stock
available for issuance thereunder by 7,000,000 shares. Accordingly, as amended,
the total number of shares of common stock available for issuance under the Plan
is 14,000,000. On January 27, 2000, the stockholders of the Company approved the
amendment to the Plan.

                                     PART II

ITEM 8.           EXHIBITS.

<TABLE>
<CAPTION>
                Exhibit
                Number                                                Description
                ------              ---------------------------------------------------------------------------------
<S>                                 <C>
                  5                 Opinion of Christopher Capuano, Esq. regarding the legality of the shares being
                                    registered.

                  23.1              Consent of Christopher Capuano, Esq. (included in his opinion filed as Exhibit 5
                                    hereto).

                  23.2              Consent of PricewaterhouseCoopers LLP.

                  24.1              Power of Attorney (included on signature page).

                  99                Amendment dated January 27, 2000 to Proxicom, Inc. 1996 Stock Option Plan.
</TABLE>





<PAGE>   3
                                   SIGNATURES

         Pursuant to the requirements of the Securities Act of 1933, 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 Reston, Commonwealth of Virginia, on this 28th day of
January, 2000.

                            PROXICOM, INC.


                            By: /s/ Raul J. Fernandez
                               -------------------------------------------------
                                Raul J. Fernandez
                                Chairman, President and Chief Executive Officer


                                POWER OF ATTORNEY

                  KNOW ALL MEN BY THESE PRESENTS, that each person whose
signature appears below constitutes and appoints Christopher Capuano and Kenneth
J. Tarply, and each of them, his or her true and lawful attorney-in-fact and
agent, with power of substitution and resubstitution, for him or her and in his
or her name, place and stead, in any and all capacities, to sign any amendments
to this Registration Statement, and to file the same, with all exhibits and
other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, and each of them,
full power and authority to do and perform each and every act and thing
requisite and necessary to be done in and about the premises, as fully to all
intents and purposes as he or she might or could do in person, hereby ratifying
and confirming all that said attorneys-in-fact and agents, or any of them, or
their, his or her substitutes or substitute, may lawfully do or cause to be done
by virtue hereof.

         Pursuant to the requirements of the Securities Act, 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>
                                              Chairman, President and Chief Executive Officer
- ------------------------------------                   (Principal Executive Officer)
Raul J. Fernandez

/s/ Brenda Wagner                           Senior Vice President, Human Resources and Director         January 27, 2000
- ---------------------------------
Brenda Wagner

/s/ Kenneth J. Tarpey                      Executive Vice President, Chief Financial Officer and        January 27, 2000
- ------------------------------------                            Treasurer
Kenneth J. Tarpey                               (Principal Financial and Accounting Officer)

/s/ David C. Hodgson                                              Director                              January 27, 2000
- ------------------------------------
David C. Hodgson
</TABLE>


<PAGE>   4
<TABLE>
<S>                                      <C>                                                       <C>
/s/ Jack Kemp                                                     Director                              January 27, 2000
- ---------------------------------
Jack Kemp

/s/ Theodore J. Leonsis                                           Director                              January 27, 2000
- ------------------------------------
Theodore J. Leonsis

/s/ John A. McKinley, Jr.                                         Director                              January 27, 2000
- ------------------------------------
John A. McKinley, Jr.

/s/ Mario M. Morino                                               Director                              January 27, 2000
- ------------------------------------
Mario M. Morino
</TABLE>


<PAGE>   5


                                  EXHIBIT INDEX

 <TABLE>
 <CAPTION>
 Exhibit
 Number                                            Description                                            Page
 ------                                            -----------                                            ----
<S>             <C>
 5              Opinion of Christopher Capuano, Esq.

 23.1           Consent of Christopher Capuano, Esq. (See Exhibit 5).

 23.2           Consent of PricewaterhouseCoopers LLP.

 24.1           Power of Attorney (included on signature page).

 99             Amendment dated January 27, 2000 to Proxicom, Inc. 1996 Stock Option Plan.
 </TABLE>



<PAGE>   1

                                                                       EXHIBIT 5

                   LEGAL OPINION OF CHRISTOPHER CAPUANO, ESQ.

                                                                January 28, 2000

Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549

Re:               Proxicom, Inc.
                  1996 Stock Option Plan
                  Registration Statement on Form S-8


Gentlemen and Ladies:

                  I am Senior Vice President, General Counsel and Secretary to
Proxicom, Inc., a Delaware corporation (the "Company"). This opinion letter has
been prepared in connection with the Company's registration, pursuant to a
registration statement on Form S-8 filed with the Securities and Exchange
Commission on or about the date hereof (the "Registration Statement"), of
7,000,000 shares (the "Shares") of common stock, $.01 par value per share, of
the Company (the "Common Stock") issuable upon the exercise of options granted
or to be granted pursuant to the Company's 1996 Stock Option Plan (the "Plan").
This letter is furnished pursuant to the requirements of Item 601(b)(5) of
Regulation S-K, 17 C.F.R. Section 229.601(b)(5), in connection with such
registration.

                  I am familiar with the Company's corporate affairs and
particularly with the Plan. Based upon the above, I am of the opinion that the
Shares, when issued and delivered in the manner and on the terms contemplated in
the Registration Statement and the Plan (with the Company having received the
consideration therefor, the form of which is in accordance with applicable law),
will be validly issued, fully paid and non-assessable.

                  I hereby consent to the filing of this opinion as Exhibit 5 to
the Registration Statement. Nothing herein shall be construed to cause me to be
considered an "expert" within the meaning of Section 11 of the Securities Act of
1933, as amended, or the rules thereunder.

                                    Very truly yours,

                                    /s/ Christopher Capuano

                                    Christopher Capuano
                                    Senior Vice President, General Counsel
                                    and Secretary



<PAGE>   1
                                                                    EXHIBIT 23.2


                     CONSENT OF PRICEWATERHOUSECOOPERS LLP

To the Board of Directors
and Stockholders of Proxicom, Inc.

We hereby consent to the incorporation by reference in this Registration
Statement on Form S-8 of our report dated February 5, 1999, except as to the
pooling of interests with ad hoc Interactive, Inc. which is as of March 26,
1999 relating to the financial statements, which appears in Proxicom, Inc.'s
Registration Statement on Form S-1 (SEC File No. 333-87671).


/s/ PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP
McLean, Virginia
January 27, 2000





<PAGE>   1
                                                                      EXHIBIT 99



                       AMENDMENT DATED JANUARY 27, 2000 TO
                      PROXICOM, INC. 1996 STOCK OPTION PLAN

The Proxicom, Inc. 1996 Stock Option Plan is amended as follows:

4.2          COMMON STOCK

The stock that may be issued pursuant to Awards granted under the Plan shall be
Common Stock, which shares may be treasury shares or authorized but unissued
shares. The number of shares of Common Stock that may be issued pursuant to
Awards granted under the Plan shall not exceed in the aggregate 14,000,000
shares of Common Stock, which number of shares is subject to adjustment as
provided herein. If any Award expires, terminates or is terminated for any
reason prior to exercise in full, the shares of Common Stock that were subject
to the unexercised portion of such Award shall be available for future Awards
granted under the Plan. When the exercise price for an Award under this Plan is
paid with previously outstanding shares or with shares as to which the Award is
being exercised, as permitted in section 13, only the number of shares of stock
issued net of the shares of stock tendered shall be deemed delivered for
purposes of determining the maximum number of shares of Stock available for
delivery under the Plan. Shares of stock delivered under the Plan in settlement,
assumption or substitution of outstanding awards (or obligations to grant future
awards) under the plans or arrangements of another entity shall not reduce the
maximum number of shares of stock available for delivery under the Plan, to the
extent that such settlement, assumption or substitution as a result of the
Company or an Affiliate acquiring another entity (or an interest in another
entity).




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