UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): May 7, 1997
Commission File Number 0-9747
EXCALIBUR TECHNOLOGIES CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 85-0278207
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1921 Gallows Road, Suite 200, Vienna, Virginia 22182
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (703) 761 - 3700
Item 5. Other Events
On May 7, 1997, the Board of Directors authorized a repricing program which
allows active current employees to elect to reprice all or some of their
outstanding options to purchase common stock of Excalibur, granted under the
1989 Incentive and the 1995 Stock Option Plans and ranging in exercise price
from $5.50 to $29.53 per share, to the May 7, 1997 closing price of $4.75 per
share. Any options that optionholders elect to reprice may not be exercised
until November 7, 1997. Options to purchase approximately 1,226,275 shares are
eligible to be repriced.
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SIGNATURES
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, thereunto duly authorized.
EXCALIBUR TECHNOLOGIES CORPORATION
By:/s/Patrick C. Condo
----------------------
Patrick C. Condo
President and Chief Executive Officer
Date: May 15, 1997
