As filed with the Securities and Exchange Commission on February 1, 2021
 
Registration No. 333-_______
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM S‑8
REGISTRATION STATEMENT
Under
The Securities Act of 1933
 
QUANTUM CORPORATION
(Exact name of issuer as specified in its charter)
 
DELAWARE
(State or other jurisdiction of
incorporation or organization)
 
94-2665054
(I.R.S. Employer
Identification No.)
   
224 Airport Parkway, Suite 550
San Jose, California
(Address of principal executive office)
 
95110
(Zip Code)
 
 
2021 Inducement Plan
(Full title of the plans)
 
Lewis Moorehead
Chief Accounting Officer
Quantum Corporation
224 Airport Parkway, Suite 550
San Jose, California 95110
(408) 944 4000 
(Name, address and telephone
number of agent for service)
Copy to:
 James J. Masetti, Esq.
Pillsbury Winthrop Shaw Pittman LLP
2550 Hanover Street
Palo Alto, CA 94304
(650) 233-4754
 
image_01.jpg
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “small reporting company” in Rule 12b-2 of the Exchange Act.


☐ Large accelerated filer☒ Accelerated filer☐ Non-accelerated filer☐ Smaller reporting company
  (Do not check if smaller
reporting company)		 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(b) of the Securities Act.
                 
CALCULATION OF REGISTRATION FEE
Title of Securities
To Be Registered  
 
Amount To
Be Registered(1)
 
Proposed
Maximum Offering
Price Per Share(3) 
 
Proposed
Maximum Aggregate
Offering Price
 
Amount of
Registration Fee
Common Stock, par value $0.01 per share: 
770,000 (2)
 $6.85 $5,274,500 $575
 
(1)     Pursuant to Rule 416 under the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement also covers any additional securities that may be offered or issued in connection with any stock split, stock dividend, recapitalization or any other similar transaction effected without receipt of consideration, which results in an increase in the number of the Registrant’s outstanding shares of Common Stock.
(2)     Represents shares reserved for issuance pursuant to awards of common stock granted under the registrant’s 2021 Inducement Plan as inducements material to the recipients’ entering into employment with the registrant pursuant to Rule 5635(c)(4) of the NASDAQ Stock Market Listing Rules.
(3)     Calculated pursuant to Rule 457(h) under the Securities Act, solely for the purposes of calculating the registration fee, based on the average of the high and low prices of the Common Stock as reported on the Nasdaq Global Market on January 27, 2021.
 

The Registration Statement shall become effective upon filing in accordance with Rule 462 under the Securities Act.  


PART I 
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
 
The document(s) containing the information specified in Part I of Form S-8 will be sent or given to the 2021 Inducement Plan participants of Quantum Corporation (the “Registrant”) as specified by Rule 428(b)(1) of the Securities Act. These documents are not being filed with the Securities and Exchange Commission (the “Commission”) either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424. These documents and the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

PART II
 
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
 
ITEM 3. Incorporation of Documents by Reference.
 
The following documents and information previously filed with the Commission by the Registrant are hereby incorporated by reference in this Registration Statement excluding any portions of such documents that were “furnished”, “not filed”, for purposes of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)):
 
(a)     Registrant’s Annual Report on Form 10-K for the fiscal year ended March 31, 2020, filed with the Commission on June 24, 2020.
 
(b)     Registrant’s Quarterly Reports on Form 10-Q for the fiscal quarters ended June 30, 2020, September 30, 2020 and December 31, 2020 filed with the Commission on August 5, 2020, October 28, 2020 and January 27, 2021, respectively.
 
(c)     Registrant’s Current Reports on Form 8-K filed with the Commission, on April 6, 2020, April 16, 2020, May 18, 2020, May 19, 2020, June 1, 2020, June 17, 2020, June 24, 2020, August 5, 2020, August 20, 2020, October 14, 2020, October 28, 2020, November 25, 2020 and December 14, 2020, respectively.
 
(d)     The description of Registrant’s common stock contained in Registrant’s registration statement on Form 8-A filed on January 29, 2020 pursuant to Section 12(b) of the Exchange Act, including any amendment or report filed for the purpose of updating such description.
 
In addition, all 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 to this Registration Statement which indicates that all securities offered pursuant to this Registration Statement have been sold or which deregisters all securities then remaining unsold (other than the portions of these documents not deemed to be filed), shall be deemed to be incorporated by reference in this Registration Statement and to be part hereof from the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference in this Registration Statement shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein modifies or supersedes such statement. Any such 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.
 
Item 6. Indemnification of Directors and Officers.
 
Section 145 of the Delaware General Corporation Law authorizes a court to award, or a corporation's Board of Directors to grant, indemnification to directors and officers in terms sufficiently broad to permit such indemnification under certain circumstances for liabilities (including reimbursement for expenses incurred) arising under the Securities Act of 1933, as amended (the “Securities Act”). The Registrant’s Amended and Restated Certificate of Incorporation contains a provision eliminating the personal liability of the Registrant’s directors to the Registrant or its stockholders for breach of fiduciary duty as a director to the fullest extent permitted by applicable law. The Registrant's Bylaws, as amended, provide for the indemnification of its directors, officers, employees and other agents to the maximum extent permitted by Delaware General Corporation Law, and the Registrant has entered into agreements with its officers, directors and certain key employees implementing such indemnification.
 
The Registrant has entered into Indemnification Agreements (Exhibit 10.1 to the Registrant’s Annual Report on Form 10-K) with its current and former directors and certain officers, to indemnify directors and officers of the Registrant who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding by reason of the fact that he or she is or was a director or officer of the Registrant.
 
ITEM 7. Exemption From Registration Claimed.
 
Not applicable.
 
ITEM  8. Exhibits.
 


Exhibit No. Description
   
  
4.1 Amended and Restated Certificate of Incorporation of the Registrant (incorporated herein by reference to Exhibit 3.1 to the Registrant’s annual report on Form 10-K for the year ended March 31, 2020, which exhibit is incorporated herein by reference).
   
4.2

4.3
 
Certificate of Amendment to the Amended Articles of Incorporation of the Registrant (incorporated by reference to Exhibit 3.5 of the Registrant’s annual report on Form 10-K for the year ended March 31, 2020, which exhibit is incorporated herein by reference).

Amended and Restated Bylaws of the Registrant (incorporated by reference to Exhibit 3.2 of the Registrant’s annual report on Form 10-K for the year ended March 31, 2020, which exhibit is incorporated herein by reference).
4.4

4.7
 
Certification of Amendment to the Bylaws of Quantum Corporation, as adopted on January 20, 2010 (incorporated by reference to Exhibit 3.3 of the Registrant’s annual report on Form 10-K for the year ended March 31, 2020, which exhibit is incorporated herein by reference).

Certification of Amendment to the Bylaws of Quantum Corporation, as adopted on February 3, 2016 (incorporated by reference to Exhibit 3.4 of the Registrant’s annual report on Form 10-K for the year ended March 31, 2020, which exhibit is incorporated herein by reference)
   
5.1

10.1

10.2

10.3

10.4

10.5
 





 
23.1 
   
23.2 Consent of Pillsbury Winthrop Shaw Pittman LLP (included in Exhibit 5.1).
   
24.1 Power of attorney (included in the signature page to this Registration Statement).
  
 
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 of 1933;
 
(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 this 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 SEC pursuant to Rule 424(b) 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; and
 
(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 this Registration Statement;
 
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section 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 Securities Exchange Act of 1934 that are incorporated by reference in this Registration Statement.
 
(2)     That, for the purpose of determining any liability under the Securities Act of 1933, 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 of 1933, each filing of the Registrant’s annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in this 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 of 1933 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 or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such a 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.
 
  


SIGNATURES 
Pursuant to the requirements of the Securities Act, 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 San Jose, State of California, on the 1st day of February, 2021.
 
 QUANTUM CORPORATION 
    
    
 By: /s/ J. Michael Dodson 
  J. Michael Dodson 
  Chief Financial Officer 




POWER OF ATTORNEY
 
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints James J. Lerner and J. Michael Dodson, jointly and severally, his or her attorneys-in-fact, each with the power of substitution, for him or her 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 exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that each of said attorneys-in-fact, or his substitute or substitutes, may 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:
 
Name Title Date
     
/s/ James J. Lerner President, Chief Executive Officer and Chairman of the Board (Principal February 1, 2021
James J. Lerner Executive Officer)  
     

/s/ J. Michael Dodson
 Chief Financial Officer (Principal Financial Officer) February 1, 2021
J. Michael Dodson   
     

/s/ Lewis Moorehead
 Chief Accounting Officer (Principal Accounting Officer) February 1, 2021
Lewis Moorehead    
     
/s/ Rebecca J. Jacoby Director February 1, 2021
Rebecca J. Jacoby    
     
     
/s/ Raghavendra Rau Director February 1, 2021
Raghavendra Rau    
     
/s/ Marc E. Rothman Director February 1, 2021
Marc E. Rothman    
     
/s/ John A. Fichthorn Director February 1, 2021
John A. Fichthorn