|
1.
|
To
elect the Board of Directors' nominees, Dr. Pehong Chen, James D. Dixon,
Robert Lee and François Stieger, to the Board of Directors to serve for
the ensuing year and until their successors are
elected.
|
|
2.
|
To
ratify the selection of Odenberg, Ullakko, Muranishi & Co. LLP as our
independent registered public accounting firm for the fiscal year ending
December 31, 2009.
|
|
3.
|
To
approve the Amended and Restated BroadVision, Inc. 2006 Equity
Incentive Plan to, among other things, (i) provide the Board with
additional flexibility to approve and effect repricings, exchanges and
similar transactions without seeking additional stockholder approval, (ii)
increase the aggregate number of shares authorized for issuance under the
Plan by 174,807 shares and (iii) to include an "evergreen" provision in
the Plan that provides for automatic annual increases in the number of
shares authorized for issuance.
|
|
4.
|
To
transact such other business as may properly come before the meeting or
any adjournment or postponement
thereof.
|
|
1.
|
To
elect the Board of Directors' nominees, Dr. Pehong Chen, James D. Dixon,
Robert Lee and François Stieger, to the Board of Directors to serve for
the ensuing year and until their successors are
elected
|
|
2.
|
To
ratify the selection of Odenberg, Ullakko, Muranishi & Co. LLP as our
independent registered public accounting firm for the fiscal year ending
December 31, 2009.
|
|
3.
|
To
approve the Amended and Restated BroadVision, Inc. 2006 Equity
Incentive Plan to, among other things, (i) provide the Board with
additional flexibility to approve and effect repricings, exchanges and
similar transactions without seeking additional stockholder approval, (ii)
increase the aggregate number of shares authorized for issuance under the
Plan by 174,807 shares and (iii) to include an "evergreen" provision
in the Plan that provides for automatic annual increases in the number of
shares authorized for
issuance.
|
|
4.
|
To
transact such other business as may properly come before the meeting or
any adjournment or postponement
thereof.
|
Name
|
|
Age
|
|
Principal
Occupation/
Position Held With The
Company
|
Pehong
Chen
|
|
51
|
Chairman,
President and Chief Executive Officer
|
|
James
D. Dixon
|
|
65
|
|
Formerly
an executive with bankofamerica.com
|
Robert
Lee
|
|
60
|
|
Formerly
an executive with Pacific Bell
|
François
Stieger
|
|
59
|
|
Chief
Executive Officer, Intentional Software International
Sarl
|
|
|
|
|
|
|
|
|
|
|
Number of Securities
|
||
|
|
|
|
|
|
|
|
|
|
Remaining Available
|
||
|
|
Number of Securities
|
|
Weighted-Average
|
|
for Issuance Under
|
||||||
|
|
to be Issued Upon
|
|
Exercise Price of
|
|
Equity Compensation
|
||||||
|
|
Exercise of
|
|
Outstanding
|
|
Plans (Excluding
Securities
|
||||||
|
|
Outstanding
Options
|
|
Options
|
|
Reflected in Column
(a))
|
||||||
Plan Category
|
|
(a)
|
|
(b)
|
|
(c)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity
compensation plans approved by security holders(1)
|
|
|
311,359
|
|
|
|
$267.51
|
|
|
|
209,222
|
|
Equity
compensation plans not approved by security holders(2)
|
|
|
44,531
|
|
|
|
$150.61
|
|
|
|
40,549
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
355,890
|
|
|
|
$252.88
|
|
|
|
249,771
|
|
(1)
|
Includes
the following: Employee Stock Purchase Plan, 1993 Interleaf Stock Option
Plan, 1994 Interleaf Employee Stock Option Plan and 2006 Equity Incentive
Plan.
|
(2)
|
Includes
the following: the 2000 Non-Officer Equity Incentive Plan (the “2000
Non-Officer Plan”) and non-plan grants. For more information - see Notes 1
and 9 to the Consolidated Financial Statements contained in our Annual
Report on Form 10-K for the fiscal year ended December 31,
2008.
|
|
|
Beneficial
Ownership(1)
|
|
||||
Beneficial
Owner
|
|
Number of
Shares(#)
|
|
Percent of
Total(%)
|
|
||
Pehong
Chen (2)
|
|
1,683,174
|
|
37.9
|
%
|
||
James
D. Dixon (3)
|
|
4,975
|
|
*
|
|
||
Robert
Lee (4)
|
|
4,309
|
|
*
|
|
||
François
Stieger (5)
|
|
1,708
|
|
*
|
|
||
Shin-Yuan Tzou (6) | 30,982 |
*
|
|||||
Honu
Holdings, LLC (2)
1600
Seaport Blvd., North Bldg., Suite 550,
Redwood
City, CA 94063
|
|
1,380,000
|
|
31.5
|
%
|
||
Funds
Associated with Palo Alto Investors LLC (7)
470
University Avenue
Palo
Alto, CA 94301
|
|
749,649
|
|
17.1
|
%
|
||
All
Current Directors and Executive Officers as a group (5 persons)
(8)
|
|
1,725,148
|
|
38.6
|
%
|
||
|
|
|
|
|
|
|
|
(1)
|
This
table is based upon information supplied by officers, directors and
principal stockholders and Schedules 13D and 13G filed with the SEC.
Unless otherwise indicated in the footnotes to this table and subject to
community property laws where applicable, we believe that each of the
stockholders named in this table has sole voting and investment power with
respect to the shares indicated as beneficially owned. Applicable
percentages are based on 4,377,094 shares outstanding on January 31, 2009,
adjusted as required by rules promulgated by the SEC. Our directors and
executive officers can be reached at BroadVision, Inc., 1600 Seaport
Blvd., Suite 550, North Bldg., Redwood City, California
94063.
|
(2)
|
Includes
234,999 shares held in trust by Dr. Chen and his wife for their benefit
and 68,175 shares of common stock issuable upon the exercise of stock
options exercisable within 60 days of January 31, 2009. Also includes
1,380,000 shares held by Honu Holdings, LLC, of which Dr. Chen is the sole
member. Excludes 45,815 shares of common stock held in trust by
independent trustees for the benefit of Dr. Chen's
children.
|
(3)
|
Includes
2,400 shares of common stock issuable upon the exercise of stock options
exercisable within 60 days of January 31, 2009.
|
(4)
|
Includes
2,400 shares of common stock issuable upon the exercise of stock options
exercisable within 60 days of January 31, 2009. Also includes 41 shares
held in trust by Mr. Lee and his wife for their
benefit.
|
(5)
|
Includes
800 shares of common stock issuable upon the exercise of stock options
exercisable within 60 days of January 31, 2009.
|
(6)
|
Includes 18,742
shares of common stock issuable upon the exercise of stock options
exercisable within 60 days of January 31, 2009.
|
(7)
|
Based
on Amendment No. 3 to Schedule 13G filed with the SEC on February 17,
2009, Palo Alto Investors, LLC, Palo Alto Investors and William Leland
Edwards have shared voting and dispositive power with respect to 744,125
shares of common stock (the “PAI Shares”), and Mr. Edwards has sole voting
and disposition power with respect to an additional 5,524 shares of common
stock. Palo Alto Fund II, L.P. has shared voting and disposition power
with respect to 299,902 of the PAI Shares and Micro Cap Partners, L.P.
shared voting and disposition power with respect to 276,732 of the PAI
Shares.
|
(8) |
Includes
the information contained in the notes above, as applicable, for our
directors and executive officers as of January 31, 2009.
|
l
|
Performance
against corporate and individual objectives for the previous
year;
|
||||
l
|
Difficulty
of achieving desired results in the coming year;
|
||||
l
|
Value
of their unique skills and capabilities to support the long-term
performance of the company;
|
||||
l
|
Performance
of their management responsibilities;
|
||||
l
|
Responsibility
and authority of each position relative to other positions within the
company; and
|
||||
l
|
Contributions
as a member of the senior management
team.
|
Name and
Principal
Position
|
Year
|
Salary
($)
|
Bonus
($)
|
Stock
Awards
($)
|
Option
Awards
($)(3)
|
Non-Equity Incentive Plan
Compensation
($)(4)
|
Change in Pension Value and
Nonqualified Deferred Compensation Earnings ($)
|
All Other
Compensation
($)(5)
|
Total
|
||||||||||||||||||
Pehong
Chen, CEO (1)
|
2006
|
$ | 350,000 | $ | - | $ | - | $ | - | $ | 58,508 | $ | 10,904 | $ | 16,853 | $ | 436,265 | ||||||||||
2007
|
$ | 350,000 | $ | - | $ | - | $ | - | $ | 70,285 | $ | - | $ | 21,264 | $ | 441,559 | |||||||||||
2008
|
$ | 350,000 | $ | - | $ | - | $ | - | $ | 33,325 | $ | - | $ | 15,700 | $ | 399,025 | |||||||||||
Shin-Yuan Tzou, CFO (2) |
2008
|
$ | 200,000 | $ | - | $ | - | $ | 42,636 | $ | 13,168 | $ | - | $ | 15,587 | $ | 271,391 |
|
Year
|
Earned
|
||
Pehong
Chen
|
2006
|
$ | 58,508 | |
|
2007
|
$ | 70,285 | |
|
2008
|
$ | 33,325 | |
Shin-Yuan
Tzou
|
2008
|
$ | 13,168 |
Year
|
Health
|
Dental
|
Vision
|
STD
|
LTD
|
Life
Ins
|
EE
Assist
|
TOTAL
|
|||||||||||||||||||||||||
Pehong
Chen
|
2006
|
$ | 13,352 | $ | 1,831 | $ | 302 | $ | 359 | $ | 450 | $ | 540 | $ | 19 | $ | 16,853 | ||||||||||||||||
|
2007
|
$ | 17,598 | $ | 1,996 | $ | 302 | $ | 359 | $ | 450 | $ | 540 | $ | 19 | $ | 21,264 | ||||||||||||||||
|
2008
|
$ | 12,336 | $ | 1,819 | $ | 247 | $ | 290 | $ | 423 | $ | 570 | $ | 15 | $ | 15,700 | ||||||||||||||||
Shin-Yuan
Tzou
|
2008
|
$ | 12,336 | $ | 1,819 | $ | 247 | $ | 290 | $ | 423 | $ | 457 | $ | 15 | $ | 15,587 |
l
|
Payouts
are made quarterly, on the first regularly scheduled pay date after the
announcement of quarterly earnings, or on such other date as deemed
appropriate by management;
|
l
|
Eligible
persons are active, full-time, or more than 75% part-time employees who
maintain a satisfactory standing during the entirety of each quarter and
who remain an employee at the time of each quarterly
payout;
|
l
|
Commission-based
employees (those with a sales commission plan) have a portion of their
variable compensation tied to company performance, funded under this EPSP
award pool, with payouts ahead of non-commissioned
employees;
|
l
|
Payouts
to non-commissioned employees are targeted at a certain percentage of each
individual's base salary, set and/or adjusted with management
discretion;
|
l
|
All
amounts earned but not paid under the plan (reductions from any “merit
factor”, resignations with positive profit-sharing accruals, etc.) are
eliminated, going back into company earnings;
|
l
|
Allocation
of the award pool will be determined as a percentage of profits. After the
close of each quarter, our management, in its sole discretion, will set
the percentage for the corresponding quarter. Payouts will be subject to
adjustment by our management and our Chief Executive Officer will have the
ability to make the final determination of all profitability
payments.
|
Name
and Principal Position
|
Grant
Date
|
All
Other Options Awards: Number of Securities Underlying
Options
|
Exercise
or Base Price of Option Awards ($/Sh)
|
Grant
Date Fair Value of Stock and Option Awards
|
||||||||||
Shin-Yuan
Tzou
|
4/16/2008
|
6,000 | $ | 29.25 | $ | 175,500 |
Option
Awards
|
Stock
Awards
|
|||||||||||||||||||
Name
|
Number of Securities Underlying
Unexercised Options (#) Exercisable
|
Number of Securities Underlying
Unexercised Options (#) Unexercisable
|
Equity Incentive Plan Awards:
Number of Securities Underlying Unexercised Unearned Options (#)
(1)
|
Option Exercise Price
($)
|
Option Expiration
Date
|
Number of Shares or Units of
Stock That Have Not Vested (#)
|
Market Value of Shares or Units
of Stock That Have Not Vested ($)
|
Equity Incentive Plan Awards:
Number of Unearned Shares, Units or Other Rights That Have Not Vested
(#)
|
Equity Incentive Plan Awards:
Market or Payout Value of Unearned Shares, Units or Other Rights That Have
Not Vested ($)
|
|||||||||||
Pehong
Chen
|
19,999
|
-
|
-
|
$
|
1,500.00
|
6/23/2009
|
-
|
$
|
-
|
-
|
$
|
-
|
||||||||
20,000
|
-
|
-
|
$
|
1,662.00
|
5/25/2011
|
-
|
$
|
-
|
-
|
$
|
-
|
|||||||||
177
|
-
|
-
|
$
|
875.20
|
11/27/2011
|
-
|
$
|
-
|
-
|
$
|
-
|
|||||||||
2,222
|
-
|
-
|
$
|
465.70
|
2/19/2012
|
-
|
$
|
-
|
-
|
$
|
-
|
|||||||||
25,777
|
-
|
-
|
$
|
54.00
|
10/30/2012
|
-
|
$
|
-
|
-
|
$
|
-
|
|||||||||
Shin-Yuan Tzou |
399
|
-
|
-
|
$ |
1,068.75
|
5/25/2009
|
-
|
$ |
-
|
-
|
$
|
-
|
||||||||
222
|
-
|
-
|
$ |
6,046.88
|
4/18/2010
|
-
|
$ |
-
|
-
|
$
|
-
|
|||||||||
888
|
-
|
-
|
$ |
1,662.75
|
5/25/2011
|
-
|
$ |
-
|
-
|
$
|
-
|
|||||||||
234
|
-
|
-
|
$ |
875.25
|
1/27/2011
|
-
|
$ |
-
|
-
|
$
|
-
|
|||||||||
266
|
-
|
-
|
$ |
198.00
|
5/30/2012
|
-
|
$ |
-
|
-
|
$
|
-
|
|||||||||
2,920
|
-
|
-
|
$ |
37.50
|
10/23/2012
|
-
|
$ |
-
|
-
|
$
|
-
|
|||||||||
12,480
|
-
|
-
|
$ |
14.25
|
3/3/2016
|
-
|
$ |
-
|
-
|
$
|
-
|
|||||||||
1,333
|
4,667
|
-
|
$ |
29.25
|
4/16/2018
|
-
|
$ |
-
|
-
|
$
|
-
|
TERMINATION OR CHANGE OF
CONTROL
|
|
|||||||||||||||||||||||||||||||||||
Executive Benefits and Payments
Upon Separation
|
|
|
Voluntary Termination on
12/31/08($)
|
|
|
Early Retirement on
12/31/08($)
|
|
|
Normal Retirement on
12/31/08($)
|
|
|
Involuntary Not For Cause
Termination on 12/31/08($)
|
|
|
For Cause Termination on
12/31/08($)
|
|
|
Involuntary For Good Reason
Termination (Change in Control) on 12/31/08($)
|
|
|
Disability on
12/31/08($)
|
|
|
Death on
12/31/08($)
|
|
|||||||||||
Pehong
Chen
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Compensation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Short-Term
Incentive Compensation
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
||
|
Stock
Options
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Benefits &
Perquisites:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Deferred
Compensation Program
|
|
|
$
|
48,656
|
|
|
$
|
48,656
|
|
|
$
|
48,656
|
|
|
$
|
48,656
|
|
|
$
|
48,656
|
|
|
$
|
48,656
|
|
|
$
|
48,656
|
|
|
$
|
48,656
|
|
||
|
Health
& Welfare Benefits
|
|
|
$
|
1,381
|
|
|
$
|
1,381
|
|
|
$
|
1,381
|
|
|
$
|
16,568
|
|
|
$
|
-
|
|
|
$
|
33,136
|
|
|
$
|
-
|
|
|
$
|
-
|
|
||
|
Disability
Income
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
1,422,003
|
|
|
$
|
-
|
|
||
|
Life
Insurance Benefits
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
500,000
|
|
||
|
Cash
Severance
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
350,000
|
|
|
$
|
-
|
|
|
$
|
700,000
|
|
|
$
|
-
|
|
|
$
|
-
|
|
||
|
Accrued
Vacation Pay
|
|
|
$
|
47,900
|
|
|
$
|
47,900
|
|
|
$
|
47,900
|
|
|
$
|
47,900
|
|
|
$
|
47,900
|
|
|
$
|
47,900
|
|
|
$
|
47,900
|
|
|
$
|
47,900
|
|
||
Shin-Yuan Tzou | ||||||||||||||||||||||||||||||||||||
Compensation: | ||||||||||||||||||||||||||||||||||||
Short-Term Incentive Compensation | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||||||||
Stock Options | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||||||||
Benefits & Perquisites: | ||||||||||||||||||||||||||||||||||||
Deferred Compensation Program | $ | 130,394 | $ | 130,394 | $ | 130,394 |
$
|
130,394 | $ | 130,394 | $ | 130,394 | $ | 130,394 | $ | 130,394 | ||||||||||||||||||||
Health & Welfare Benefits | $ | 1,371 | $ | 1,371 | $ | 1,371 | $ | 8,225 | $ | - | $ | 20,562 | $ | - | $ | - | ||||||||||||||||||||
Disability Income | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 1,422,003 | $ | - | ||||||||||||||||||||
Life Insurance Benefits | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 400,000 | ||||||||||||||||||||
Cash Severance | $ | - | $ | - | $ | - | $ | 100,000 | $ | - | $ | 250,000 | $ | - | $ | - | ||||||||||||||||||||
Accrued Vacation Pay | $ | 26,603 | $ | 26,603 | $ | 26,603 | $ | 26,603 | $ | 26,603 | $ | 26,603 | $ | 26,603 | $ | 26,603 |
|
|
Age on
|
|
Years to
Age
|
|
Discount
Rate
|
|
|
Present
Value
|
|
Name
|
|
12/31/08
|
|
65
|
|
2.5%
|
|
|
of the
Annuity
|
|
Pehong
Chen
|
|
51
|
|
14
|
|
2.5%
|
|
$
|
1,422,003
|
|
Shin-Yuan Tzou |
51
|
14
|
2.5%
|
$
|
1,422,003 |
Employee
Designation
|
|
Base
|
|
Accrual/Yr
|
|
Maximum
|
CEO
|
|
6.00
Mo.
|
|
1.00
Mo/Yr.
|
|
12.00
Mo.
|
EVP
|
|
3.00
Mo.
|
|
0.50
Mo/Yr.
|
|
6.00
Mo.
|
SVP
|
|
2.00
Mo.
|
|
0.50
Mo/Yr.
|
|
5.00
Mo.
|
VP
|
|
1.00
Mo.
|
|
0.50
Mo/Yr.
|
|
4.00
Mo.
|
Director
|
|
0.50
Mo.
|
|
0.42
Mo./Yr.
|
|
3.00
Mo.
|
Manager
|
|
0.50
Mo.
|
|
0.25
Mo./Yr.
|
|
2.00
Mo.
|
Employee
|
|
0.50
Mo.
|
|
0.08
Mo./Yr.
|
|
1.00
Mo.
|
Employee
Level
|
|
Base
(Number of Mo. Base Salary After 1 Year Tenure)
|
|
Accelerator
(Number of Mo. Base Salary Accrued Per Each Yr. of Additional
Tenure)
|
|
Maximum
Years Tenure Accelerator Applied
|
|
Maximum
Months Base Salary Accrual Allowed
|
Level
I
|
|
9
|
|
1.25
|
|
12
|
|
24
|
Level
II
|
|
6
|
|
1.00
|
|
9
|
|
15
|
Level
III
|
|
3
|
|
0.75
|
|
8
|
|
9
|
Employee
Level
|
|
Base (Percentage of Unvested
Stock Options Accelerated After 1 Year Tenure)
|
|
Accelerator (Percentage of
Unvested Stock Options Accelerated per Each Yr. of Additional
Tenure)
|
|
Maximum (Total % of Unvested
Stock Options Allowed to be Accelerated)
|
Level
I
|
|
30%
|
|
7.8%
|
|
100%
|
Level
II
|
|
25%
|
|
6.1%
|
|
80%
|
Level
III
|
|
20%
|
|
4.4%
|
|
60%
|
Name
|
Earned or Paid in Cash
($)
|
Stock Awards
($)
|
Option Awards
($)
|
Non-Equity Incentive Plan
Compensation
($)
|
Change in Pension Value and
Nonqualified Deferred Compensation Earnings
($)
|
All Other Compensation
($)
|
Total
($)
|
|||||||
Robert
Lee
|
-
|
$15,990
|
-
|
-
|
-
|
-
|
$15,990
|
|||||||
James
Dixon
|
-
|
$19,982
|
-
|
-
|
-
|
-
|
$19,982
|
|||||||
François
Stieger
|
-
|
$15,990
|
-
|
-
|
-
|
-
|
$15,990
|
l
|
Publicly
available data describing director compensation in peer
companies;
|
||
l
|
Survey
data collected by our human resources department; and
|
||
l
|
Information
obtained directly from other
companies.
|
¨
|
Mark
this box with an X if you have made changes to your name or address
details above.
|
1.
|
To
elect directors to serve for the ensuing year and until their successors
are elected. The Board of Directors recommends a vote FOR the following
nominees:
|
For
|
Withhold
|
For
|
Withhold
|
|||
01-Pehong
Chen
|
¨
|
¨
|
03-Robert
Lee
|
¨
|
¨
|
|
02-
James D. Dixon
|
¨
|
¨
|
04-François
Stieger
|
¨
|
¨
|
2.
|
To
ratify the selection by the Audit Committee of the Board of Directors of
Odenberg, Ullakko, Muranishi & Co. LLP as our
independent registered public accounting firm for our fiscal
year ending December 31, 2009.
|
For
¨
|
Against
¨
|
Abstain
¨
|
3.
|
To
approve the Amended and Restated BroadVision, Inc. 2006 Equity
Incentive Plan to, among other things, (i) provide the Board with
additional flexibility to approve and effect repricings, exchanges and
similar transactions without seeking additional stockholder approval, (ii)
increase the aggregate number of shares authorized for issuance under the
Plan by 174,807 shares and (iii) to include an "evergreen" provision
in the Plan that provides for automatic annual increases in the number of
shares authorized for issuance.
|
For
¨
|
Against
¨
|
Abstain
¨
|
Signature
1--Please keep signature within the box
|
Date
(mm/dd/yyyy)
|
|
|