Sphere 3D Corp. — Registration Form 2019

May 14, 2019

S-8 1 forms8.htm S-8 Sphere 3D Corp.: Form S8 - Filed by newsfilecorp.com

| As filed with the Securities and Exchange
Commission on May 14, 2019 |
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| Registration No.____ |

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

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FORM S-8

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 _______

Sphere 3D Corp. (Exact Name of Registrant as Specified in Its Charter)

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Ontario, Canada	98-1220792
(State or Other Jurisdiction of Incorporation or
Organization)	(I.R.S. Employer Identification No.)

895 Don Mills Road, Bldg. 2, Suite 900 Toronto, Ontario M3C 1W3 (Address, Including Zip Code, of Principal Executive Offices)

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Sphere 3D Corp. 2015 Performance Incentive Plan Inducement Restricted Stock Unit Grants (Full Title of the Plan)

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Kurt Kalbfleisch Chief Financial Officer 4542 Ruffner Street, Suite 250 San Diego, California 92111 (858) 571-5555 (Name, Address and Telephone Number, Including Area Code, of Agent for Service)

COPY TO:

Warren T. Lazarow, Esq. Paul Sieben, Esq. O’Melveny & Myers LLP 2765 Sand Hill Road Menlo Park, California 94025 (650) 473-2600

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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ]		Accelerated filer [ ]
Non-accelerated filer [ ]	(Do not check if a smaller reporting company)	Smaller reporting company [X]
		Emerging growth company [X]

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		Proposed	Proposed
		Maximum	Maximum
Title of	Amount	Offering	Aggregate	Amount Of
Securities	To Be	Price	Offering	Registration
To Be Registered	Registered	Per
Share	Price	Fee
Common Shares, no par value per share, issuable pursuant
to Restricted Stock Unit Inducement Grants	100,000 (1) shares	$2.44 (2)	$244,000 (2)	$30
Common Shares, no par value per share, issuable pursuant
to the Sphere 3D Corp. 2015 Performance Incentive Plan	236,119 (1) shares	$2.44 (2)	$576,130 (2)	$70
Total	336,119 (1) shares		$820,130 (2)	$100

| (1) | This Registration Statement covers, in addition to the
number of common shares, no par value per share (the “Common Shares”) of
Sphere 3D Corp., a corporation incorporated under the laws of the Province
of Ontario (the “Company” or the “Registrant”), stated above, options and
other rights to purchase or acquire the shares of Common Stock covered by
this Registration Statement and, pursuant to Rule 416 under the Securities
Act of 1933, as amended (the “Securities Act”), an additional
indeterminate number of shares, options and rights that may be offered or
issued pursuant to certain Inducement Restricted Stock Unit Grants (the
“Inducement Grants”) and the Sphere 3D Corp. 2015 Performance Incentive
Plan (the “Plan”) as a result of one or more adjustments under the award
agreements that evidence the Inducement Grants and the Plan to prevent
dilution resulting from one or more stock splits, stock dividends or
similar transactions. |
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| (2) | Estimated solely for the purpose of calculating the
registration fee in accordance with Rule 457(h) and 457(c) under the
Securities Act, based upon the average of the high and low prices of the
Common Shares on May 10, 2019 (which is within five business days prior to
the date of this filing), as quoted on the Nasdaq Global Select
Market. |

The Exhibit Index for this Registration Statement is at page 10.

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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 participants as specified by Securities Act Rule 428(b)(1).

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PART II

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM 3. Incorporation of Certain Documents by Reference

The following documents of the Company filed with the Securities and Exchange Commission (the “Commission”) are incorporated herein by reference:

| (a) | The Company’s Annual Report on Form 10-K for its fiscal
year ended December 31, 2018, filed with the Commission on April 1, 2019
(Commission File No. 001- 36532); |
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| (b) | The Company’s Current Reports on Form 8-K, filed with the
Commission on January 4, 2019, January 17, 2019 and May 14, 2019 (each, Commission File
No. 001-36532); and |
| (c) | The description of the Company’s common shares contained
in its Registration Statement on Form 8-A (File No. 001-36532) filed with
the Commission on July 7, 2014 pursuant to Section 12 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), and any other
amendment or report filed for the purpose of updating such
description. |

All documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing of such documents; provided, however, that documents or information deemed to have been furnished and not filed in accordance with Commission rules shall not be deemed incorporated by reference into this Registration Statement. Any statement contained herein or in a document, all or a portion of which is incorporated or deemed to be incorporated by reference herein, shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or amended, 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

Under the Business Corporations Act (Ontario), the Company may indemnify a director or officer, a former director or officer or another individual who acts or acted at the Company’s request as a director or officer, or an individual acting in a similar capacity, of another entity, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by the individual in respect of any civil, criminal, administrative, investigative or other proceeding in which the individual is involved because of that association with the Company or another entity on condition that (i) the individual acted honestly and in good faith with a view to the Company’s best interests or, as the case may be, to the best interests of the other entity for which the individual acted as a director or officer or in a similar capacity at the Company’s request, and (ii) in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, the individual also had reasonable grounds for believing that his or her conduct was lawful. Further, the Company may, with court approval, indemnify an individual described above in respect of an action by or on the Company’s behalf or other entity to obtain a judgment in its favor, to which the individual is made a party because of the individual’s association with the Company or another entity, against all costs, charges and expenses reasonably incurred by the individual in connection with such action if the individual fulfills condition (i) above. An individual as described above is entitled as a matter of right to indemnification from the Company in respect of all costs, charges and expenses reasonably incurred by such individual in connection with the defense of any civil, criminal, administrative, investigative or other proceedings to which such individual is subject if he or she was not judged by a court or other competent authority to have committed any fault or omitted to do anything that he or she ought to have done, and has fulfilled conditions (i) and (ii) above.

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In accordance with the Business Corporations Act (Ontario), the Company has agreed to indemnify each of the Company’s directors and officers against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by such individual in respect of any civil, criminal, administrative action or proceeding in which such individual is involved by reason of his or her association with the Company or another entity if such individual acted honestly and in good faith with a view to the best interests of the Company or such other entity, and such individual had reasonable grounds for believing that his or her conduct was lawful.

The Company maintains a policy of directors’ and officers’ liability insurance, which insures directors and officers for losses as a result of claims against the Company’s directors and officers in their capacity as directors and officers and also reimburses the Company for payments made pursuant to the indemnity provisions under the Company’s bylaws and the Business Corporations Act (Ontario).

ITEM 7. Exemption from Registration Claimed

Not applicable

ITEM 8. Exhibits

See the attached Exhibit Index at page 10, which is incorporated herein by reference.

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;

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(ii) To reflect in the prospectus any facts or events arising after the effective date of this 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;

(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) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.

(2) That, for the purpose of determining any liability under the Securities Act, 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, each filing of the Registrant’s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) 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.

(h) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the provisions described in Item 6 above, 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 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.

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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 Form S-8 Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of San Diego, State of California, on May 14, 2019.

SPHERE 3D CORP.
By:	/s/
Kurt Kalbfleisch
	Kurt Kalbfleisch
	Chief Financial Officer

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POWER OF ATTORNEY

Each person whose signature appears below constitutes and appoints Peter Tassiopoulos and Kurt Kalbfleisch, or either one or both of them, as his or her true and lawful attorneys-in-fact and agents, with full 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 and all amendments (including post-effective amendments, exhibits thereto and other documents in connection therewith) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the 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 each of said attorneys-in-fact and agents, or his substitute or substitutes, 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 below by the following persons in the capacities and on the dates indicated.

Signature	Title	Date
/s/ Peter Tassiopoulos	Chief Executive Officer	May 14, 2019
Peter Tassiopoulos	(Principal Executive Officer)
/s/ Kurt Kalbfleisch	Chief Financial Officer	May 14, 2019
Kurt Kalbfleisch	(Principal Financial and Accounting
	Officer)
/s/ Cheemin Bo-Linn	Director	May 14, 2019
Cheemin Bo-Linn
/s/ Vivekanand Mahadevan	Director	May 14, 2019
Vivekanand Mahadevan
/s/ Duncan McEwan	Director	May 14, 2019
Duncan McEwan

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SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES

Pursuant to the requirements of the Securities Act, the undersigned, the duly authorized representative in the United States of the Registrant, has signed this registration statement in the City of San Diego, State of California on May 14, 2019.

AUTHORIZED U.S. REPRESENTATIVE
By:	/s/
Kurt Kalbfleisch
	Kurt
Kalbfleisch
	Chief
Financial Officer

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EXHIBIT INDEX

Exhibit Number	Description of Exhibit
4.1	Form of Executive Inducement Restricted Stock Unit Award
Agreement. (Filed as Exhibit 4.1 to the Company’s Registration Statement
on Form S-8 (Commission File No. 333-209251), filed with the Commission on
February 1, 2016 and incorporated herein by this reference.)
4.2	Sphere 3D Corp. 2015 Performance Incentive Plan. (Filed
as Appendix C to the Company’s Proxy Statement filed with the Commission
pursuant to Section 14(a) of the Exchange Act on November 28, 2018
(Commission File No. 001- 36532) and incorporated herein by this
reference.)
5	Opinion of Meretsky Law Firm
(opinion re legality).
23.1	Consent of Moss Adams LLP
(consent of independent registered public accounting firm).
23.2	Consent of Counsel (included in
Exhibit 5).
24	Power of Attorney (included in
this Registration Statement under “Signatures”).

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