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FORM 3 OMB APPROVAL
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OMB Number: 3235-014
Expires: December 31, 2001
Estimated average burden
hours per response ..... 0.5
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f)
of the Investment Company Act of 1940
(Print or Type Responses)
<TABLE>
<S> <C> <C> <C>
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1. Name and Address of Reporting Person* 2. Date of Event Requiring 4. Issuer Name and Ticker or 6. If Amendment, Date
Komag, Incorporated Statement Trading Symbol of Original
- ---------------------------------------- (Month/Day/Year) HMT Technology Corp. (HMTT) (Month/Day/Year)
(Last) (First) (Middle) April 26, 2000 ----------------------------------
1710 Automation Parkway ---------------------------- 5. Relationship of Reporting -----------------------
- ---------------------------------------- 3. I.R.S. Identification Person(s) to Issuer 7. Individual or Joint/
(Street) Number of Reporting (Check all applicable) Group Filing (Check
San Jose CA 95131 Person, if an entity Director X 10% Owner Applicable line)
- -------------------------------------- (Voluntary) 94-2914864 ----- ----- X Form filed by
(City) (State) (Zip) ---------------------------- Officer Other ----- One Reporting
----- (give ----- (specify Person
title below) below) Form filed by
----- More than One
---------------------------------- Reporting Person
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TABLE 1 -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
(Instr. 4) Beneficially Owned Direct (D) or Beneficial
(Instr. 4) Indirect (I) Ownership (Instr. 5)
(Instr. 5)
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Common Stock 4,569,299(1)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
*If the form is filed by more than one reporting person, see Instruction 5(b)(v). SEC 1473(3-99)
</TABLE>
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FORM 3 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<TABLE>
<CAPTION>
FORM 3 (CONTINUED)
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security 2. Date 3. Title and Amount of 4. Conver- 5. Owner- 6. Nature of Indirect
(Instr. 4) Exercisable and Securities Underlying sion or ship Beneficial Ownership
Expiration Date Derivative Security Exercise Form of (Instr. 5)
(Month/Day/ (Instr. 4) Price of Deriv-
Year) Deriv- ative
ative Security:
Security
------------------------------------------------- Direct
Date Expira- Amount or (D) or
Exercis- tion Title Number Indirect (I)
able Date of Shares (Instr. 5)
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Option to purchase Common Stock (2) (3) Common Stock 9,193,051(4) $25,341,564.38 D
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</TABLE>
Explanation of Responses:
(1) 3,980,244 shares of HMT Common Stock, and 589,055 shares of HMT Common Stock
subject to options exercisable within 60 days, are subject to Voting Agreements
dated as of April 26, 2000 which were entered into by Komag and certain
stockholders of HMT as an inducement for Komag to enter into an Agreement and
Plan of Reorganization (the "Merger Agreement"). Komag expressly disclaims
beneficial ownership of any of the shares of HMT Common Stock covered by the
Voting Agreements. Based on the number of shares of HMT Common Stock outstanding
as of April 24, 2000 (as represented by HMT in the Merger Agreement), the
aggregate number of shares of HMT Common Stock indicated represents
approximately 9.0% of the outstanding HMT Common Stock, excluding the shares of
HMT Common Stock issuable upon exercise of the Stock Option Agreement (discussed
below) but including shares of HMT Common Stock subject to the Voting
Agreements.
(2) As an inducement for Komag to enter into the Merger Agreement, Komag and HMT
entered into a Company Stock Option Agreement dated as of April 26, 2000 (the
"Stock Option Agreement"). Pursuant to the Stock Option Agreement, HMT granted
Komag the Option, under certain conditions, to acquire up to 9,193,051 shares of
HMT Common Stock which, based on the number of shares of HMT Common Stock
outstanding as of April 24, 2000 (as represented by HMT in the Merger Agreement)
represent 19.9% of the outstanding HMT Common Stock, excluding shares issuable
upon exercise of the Stock Option Agreement. HMT's obligation to issue shares
pursuant to the exercise of the Stock Option is subject to the occurrence of
certain events (each, an "Exercise Event"), which may not occur. In general, an
Exercise Event may be deemed to occur: if (a) (i) the Board of Directors of
HMT or any committee thereof shall for any reason have withdrawn or shall have
amended or modified in a manner adverse to Komag its recommendation in favor of
the adoption of the Merger Agreement; (ii) HMT shall have failed to include in
the Proxy Statement the recommendation of the Board of Directors of HMT in favor
of the adoption of the Merger Agreement; (iii) the Board of Directors of HMT
fails to reaffirm its recommendation in favor of the Adoption of the Merger
Agreement within ten (10) business days after Komag requests in writing that
such recommendation be reaffirmed at any time following the announcement of a
Parent Acquisition Offer (as defined in the Merger Agreement); (iv) the Board of
Directors of HMT or any committee thereof shall have approved or recommended any
Parent Acquisition Offer; (v) HMT shall have entered into any letter of intent
or similar document or any agreement, contract or commitment accepting any
Parent Acquisition Offer (as defined in the Merger Agreement); (vi) a tender or
exchange offer relating to securities of HMT constituting an Acquisition
Proposal shall have been commenced by a person unaffiliated with Komag and HMT
shall not have sent to its securityholders pursuant to Rule 14e-2 promulgated
under the Securities Act, within ten (10) business days after such tender or
exchange offer is first published sent or given, a statement disclosing that HMT
recommends rejection of such tender or exchange offer; or (vii) HMT shall have
breached in any material respect the provisions of Section 5.4(a) of the Merger
Agreement; or (b) the Merger Agreement is terminated by Komag or HMT, as
applicable, pursuant to Section 7.1(b) or Section 7.1(d) of the Merger Agreement
as a result of HMT's failure to obtain the required approvals of the
stockholders of HMT and any of the following occur; (i) if after April 26, 2000
and prior to the termination of the Merger Agreement, a third party has publicly
announced (and not publicly and irrevocably withdrawn) a Company Acquisition
Offer (as defined in the Merger Agreement) and within the Applicable Period (as
defined in the Merger Agreement) a Company Acquisition is consummated; or (ii)
if after April 26, 2000 and prior to the termination of the Merger Agreement, a
third party has publicly announced (and not publicly and irrevocably withdrawn)
a Company Acquisition Offer and within the Applicable Period HMT enters into an
agreement or letter of intent providing for a Company Acquisition.
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SEC 1473(3-99)
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FORM 3 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS,
WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
(3) The Option will terminate upon the earliest of (i) the completion of the
Merger, (ii) twelve (12) months following the date on which the Merger Agreement
is terminated pursuant to Section 7.1(b) or 7.1(d) thereof, if no event causing
the Termination Fee to become payable pursuant to Section 7.3(b)(ii) of the
Merger Agreement has occurred, (iii) six (6) months following the date on which
the Merger Agreement is terminated pursuant to Section 7.1(h) thereof, (iv) in
the event the Merger Agreement has been terminated pursuant to Section 7.1(b) or
7.1(d) thereof and the Termination Fee became payable pursuant to Section
7.3(b)(ii) thereof, six (6) months after payment of the Termination Fee; and (v)
the date on which the Merger Agreement is otherwise terminated; provided,
however, that if the Option cannot be exercised by reason of any applicable
government order, judgment or decree or because the waiting period related to
the issuance of the shares subject to the Option under the HSR Act will not have
expired or been terminated, then the Option will not terminate until the tenth
(10th) business day after such impediment to exercise will have been removed or
will have become final and not subject to appeal. (4) Komag expressly disclaims
beneficial ownership of any of the shares of HMT Common Stock which are
purchasable by Komag upon exercise of the Option until such time as Komag
purchases any such shares of HMT Common Stock upon any such exercise.
/s/ EDWARD H. SIEGLER May 2, 2000
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a)
Note: File three copies of this Form, one of which must be manually signed. If
space is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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SEC 1473(3-99)
