shsp_s8
As
filed with the Securities and Exchange Commission on April 29,
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
SharpSpring, Inc.
|
(Exact
name of registrant as specified in its charter)
|
Delaware
|
|
05-0502529
|
(State
or other jurisdiction ofincorporation or organization)
|
(I.R.S.
EmployerIdentification No.)
|
5001 Celebration Pointe Avenue, Suite 410
Gainesville, Florida
|
|
32608
|
(Address
of principal executive offices)
|
(Zip
Code)
|
2010
Restated Employee Stock Plan
2019 Equity Incentive Plan
|
(Full
title of the plan)
|
Aaron Jackson
Chief Financial Officer
5001 Celebration Pointe Avenue, Suite 410
Gainesville, FL 32608
Telephone: 877-705-9362
|
|
Copy to:
David M. Bovi, Esq.
David M. Bovi, PA
2855 PGA Blvd., Suite 150
Palm Beach Gardens, FL 33410
Telephone: (561) 655-0665
|
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 ☑
|
Smaller
reporting company ☑
|
|
Emerging growth
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
|
Proposed Maximum
Aggregate Offering Price
|
Amount of
Registration Fee
|
2019
Equity Incentive Plan
Common Stock, par
value $0.001 per share
|
327,961(2)
|
16.31(5)
|
$5,349,043.91
|
$583.58
|
2019
Equity Incentive Plan
Common Stock, par
value $0.001 per share
|
479,802(3)
|
-
|
-
|
-
|
2010
Equity Incentive Plan
Common Stock, par
value $0.001 per share
|
861,559(4)
|
-
|
-
|
-
|
(1)
This registration
statement on Form S-8 (this “Registration Statement”)
covers an aggregate of 1,669,322 shares of common stock, par value $0.001 per share
(the “Common Stock”) of SharpSpring, Inc. (the “Company”), which includes an additional 327,961 shares of Common Stock, which
may be offered pursuant to the Company’s 2019 Equity
Incentive Plan (the “2019 Plan”); and up to 1,341,361 shares of common
stock previously registered for offering pursuant the
Company’s 2010 Restated Employee Stock Plan (the
“2010 Plan”). See “Explanatory
Note.” In addition, pursuant to
Rule 416(a) under the Securities Act, the shares being
registered hereunder include such indeterminate number of shares of
common stock as may be issuable with respect to the shares being
registered hereunder as a result of stock splits, stock dividends
or similar transactions.
(2)
Pursuant to General
Instruction E to Form S-8, a filing fee is only being paid with
respect to the registration of the 327,961 shares of Common Stock available
for issuance under the 2019 Plan.
(3)
Represents 479,802
shares of Common Stock that may be added from the 2010 Plan to the
award pool of the 2019 Equity Plan, which were previously
registered under the registration statements on Form S-8
(Registration Nos.
333-197652,
333-212466,
333-219083,
and
333-226961) by
the Company (the “2010
Registration Statements”) with the Securities and
Exchange Commission (the “Commission”). The registration
fees allocable to the shares carried over from the 2010 Plan and
paid in connection with such registration statements are carried
over in this registration statement. See “Explanatory
Note.”
(4)
Represents up to
861,559 shares of Common Stock issuable upon the
exercise of outstanding options granted under the 2010 Plan,
which were previously registered under the 2010 Registration
Statements with the Commission. The registration fees allocable to
the shares carried over from the 2010 Plan and paid in connection
with such registration statements are carried over in this
registration statement. See “Explanatory
Note.”
(5)
Estimated solely
for the purposes of calculating the registration fee in accordance
with Rule 457(c) and 457(h) of the Act on the basis of the
average of
the high and low prices of SharpSpring, Inc.’s Common
Stock reported on the Nasdaq Capital Market on April 27, 2021,
which date is within 5 business days prior to filing this
Registration Statement.
EXPLANATORY NOTE
The
Company has prepared this Registration Statement in accordance with
the requirements of Form S-8 under the Securities Act, to
register shares of its Common Stock issuable pursuant to the 2019
Plan and the 2010 Plan. This Registration Statement is being filed
by the Company pursuant to
General Instruction E to the Form S-8 Registration Statement under
the Securities Act of 1933, as amended, to register an aggregate of 1,669,322
shares of Common Stock, which
includes:
1. an
additional 327,961 shares of Common Stock, which may be offered
pursuant to the 2019 Plan. Previously, the Company registered
697,039 shares of Common Stock issuable under the 2019 Plan
pursuant to the Company’s Registration Statement on Form S-8
(Registration No.
333-233579) filed with the
Securities and Exchange Commission on August 30, 2019 (the
“Original 2019 Plan
Registration Statement”); and
2. up
to 1,341,361shares of common stock previously registered for
offering pursuant the 2010 Plan. In accordance with the 2019 Plan,
shares that are subject to outstanding awards under the 2010 Plan
that subsequently are expired, terminated, canceled or forfeited
without a distribution of shares under the terms of the 2010 Plan
again become available for issuance under the 2019 Equity Plan. The
2010 Plan expired on June 14, 2020 and no further grants may be
made under the 2010 Plan. Outstanding awards granted under the 2010
Plan prior to June 14, 2020 remain outstanding until expired,
terminated, canceled or forfeited in accordance with the 2010 Plan.
Previously, the Company registered 2,462,396 shares of Common Stock
issuable under the 2010 Plan pursuant to the Company’s
Registration Statements on Form S-8 (Registration Nos.
333-197652,
333-212466,
333-219083,
and
333-226961)
filed with the Securities and Exchange Commission on July 25, 2014,
July 11, 2016, June 30, 2017, August 21, 2018, respectively
(collectively, the “2010 Plan
Registration Statements”). As of the date of this
Registration Statement, 479,802 shares of Common Stock may be added
from the 2010 Plan to the award pool of the 2019 Equity Plan and
861,559 shares of Common Stock are subject to outstanding awards
under the 2010 Plan. The
registration fees allocable to all of the 1,341,361 shares of Common Stock carried
over from the 2010 Plan Registration Statements and paid in
connection with such registration statements are carried over in
this Registration Statement.
In
accordance with General Instruction E to Form S-8, the information
contained in the Original 2019 Plan Registration Statement and the
2010 Plan Registration Statements is incorporated herein by
reference, except as otherwise set forth herein.
PART I
INFORMATION REQUIRED IN THE
SECTION 10(a) PROSPECTUS
The documents containing the information specified
in Part I of Form S-8 will be sent or given to employees
as specified by Rule 428(b)(1) of the Securities
Act. Such documents need not be 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 of the Securities Act. These documents and
the documents incorporated by reference in 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 filed with the Commission by the Company
are incorporated by reference in this Registration
Statement:
(a) The
Company’s Annual
Report on Form 10-K for the fiscal year
ended December 31, 2020, filed with the Commission on March
30, 2021;
(c)The
Company’s Current Reports on Form 8-K, as may be amended
filed with the Commission on
February 3,
2020,
April 16,
2020, April
28, 2020, July
14, 2020,
July 21, 2020,
July 23, 2020,
August 19,
2020;
November 12,
2020,
November 17,
2020,
December 10,
2020,
December 15,
2020, and
December 17,
2020;
(d) The
Company’s
Definitive Proxy
Statement relating to the Company’s 2020 annual
meeting of stockholders, filed with the SEC on June 17,
2020;
(e) The
description of the Company’s Common Stock contained in its
registration statement on Form 8-A, filed
with the Commission on January 27, 2014, including any amendment or
report filed for the purpose of updating such description;
and
All documents filed by the Company pursuant to Section 13(a),
13(c), 14 or 15(d) of the Exchange Act after the date of this
Registration Statement and 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
portions thereof that are furnished and not filed in accordance
with the rules of the Commission shall not be deemed incorporated
by reference into this Registration Statement. Any statement
contained in a document 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 herein or in any other subsequently filed document that
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 constitute a part of this
Registration Statement, except as so modified or
superseded.
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(a) of the Delaware General Corporation Law provides, in
general, that a corporation may indemnify any person who was or is
a party or is threatened to be made a party to any threatened,
pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative (other than an action by
or in the right of the corporation), because he or she is or was a
director, officer, employee or agent of the corporation, or is or
was serving at the request of the corporation as a director,
officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise, against expenses
(including attorneys’ fees), judgments, fines and amounts
paid in settlement actually and reasonably incurred by the person
in connection with such action, suit or proceeding, if he or she
acted in good faith and in a manner he or she reasonably believed
to be in or not opposed to the best interests of the corporation
and, with respect to any criminal action or proceeding, had no
reasonable cause to believe his or her conduct was
unlawful.
Section
145(b) of the Delaware General Corporation Law provides, in
general, that a corporation may indemnify any person who was or is
a party or is threatened to be made a party to any threatened,
pending or completed action or suit by or in the right of the
corporation to procure a judgment in its favor because the person
is or was a director, officer, employee or agent of the
corporation, or is or was serving at the request of the corporation
as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, against
expenses (including attorneys’ fees) actually and reasonably
incurred by the person in connection with the defense or settlement
of such action or suit if he or she acted in good faith and in a
manner he or she reasonably believed to be in or not opposed to the
best interests of the corporation, except that no indemnification
shall be made with respect to any claim, issue or matter as to
which he or she shall have been adjudged to be liable to the
corporation unless and only to the extent that the Court of
Chancery or other adjudicating court determines that, despite the
adjudication of liability but in view of all of the circumstances
of the case, he or she is fairly and reasonably entitled to
indemnity for such expenses which the Court of Chancery or other
adjudicating court shall deem proper.
Section
145(g) of the Delaware General Corporation Law provides, in
general, that a corporation may purchase and maintain insurance on
behalf of any person who is or was a director, officer, employee or
agent of the corporation, or is or was serving at the request of
the corporation as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other
enterprise against any liability asserted against such person and
incurred by such person in any such capacity, or arising out of his
or her status as such, whether or not the corporation would have
the power to indemnify the person against such liability under
Section 145 of the Delaware General Corporation Law.
Article VI of our certificate of incorporation, as
amended (the “Charter”), provides that no director of our Company
shall be personally liable to us or our stockholders for monetary
damages for any breach of fiduciary duty as a director, except for
liability (1) for any breach of the director’s duty of
loyalty to us or our stockholders, (2) for acts or omissions not in
good faith or which involve intentional misconduct or a knowing
violation of law, (3) in respect of unlawful dividend payments or
stock redemptions or repurchases, or (4) for any transaction from
which the director derived an improper personal benefit. In
addition, our Charter provides that if the Delaware General
Corporation Law is amended to authorize the further elimination or
limitation of the liability of directors, then the liability of a
director of our Company shall be eliminated or limited to the
fullest extent permitted by the Delaware General Corporation Law,
as so amended.
Article
VI of the Charter further provides that any repeal or modification
of such article by our stockholders or amendment to the Delaware
General Corporation Law will not adversely affect any right or
protection existing at the time of such repeal or modification with
respect to any acts or omissions occurring before such repeal or
modification of a director serving at the time of such repeal or
modification.
Article IX of our bylaws (the
“Bylaws”), provides that that our Company shall
indemnify any person who was or is a party or is threatened to be
made a party to any threatened, pending or completed action, suit
or proceeding, whether civil, criminal, administrative or
investigative (other than an action by, or in the right of our
Company) by reason of the fact that he is or was a director,
officer, employee or agent of our Company, or is or was serving at
the request of our Company as a director, officer, employee or
agent of any other corporation, partnership, joint venture, trust
or other enterprise against expenses (including attorney’s
fees), judgments, fines, amounts paid in settlement actually and
reasonably incurred by him in connection with such action, suit or
proceeding, including any appeal thereof, if he acted in good faith
in a manner he reasonably believed to be in, or not opposed to the
best interests of our Company, and with respect to any criminal
action or proceeding, had no reasonable cause to believe that his
conduct was unlawful. The indemnification provided by the Bylaws
are in addition to the indemnification rights provided pursuant to
the Delaware General Corporation Law, and are not exclusive of any
other rights to which any person seeking indemnification may he
entitled.
Our
Company has obtained directors’ and officers’ liability
insurance which insures against certain liabilities that directors
and officers of our Company and subsidiaries, may, in such
capacities, incur.
Our
Company has entered into employee agreements with our executive
officers which contain indemnification provisions. These agreements
provide that our Company will indemnify each of our executive
officers to the fullest extent permitted by law and by our Charter
or Bylaws.
Item 7. Exemption
from Registration Claimed.
Not
applicable.
Item 8. Exhibits.
INDEX TO EXHIBITS
Number
|
|
Title of Document
|
|
Location
|
|
|
Certificate
of Incorporation
|
|
Incorporated
by reference to our Registration Statement on Form S-1 filed on
December 2, 2010
|
|
|
Amendment
to Certificate of Incorporation
|
|
Incorporated
by reference to our Current Report on Form 8-K filed on
December 17, 2013
|
|
|
Amendment
to Certificate of Incorporation
|
|
Incorporated
by reference to our Current Report on Form 8-K filed on
December 1, 2015
|
|
|
Bylaws
|
|
Incorporated
by reference to our Registration Statement on Form S-1 filed on
December 2, 2010
|
|
|
Opinion
of David M. Bovi, P.A.
|
|
Filed
herewith
|
|
|
Consent
of Cherry Bekaert LLP
|
|
Filed
herewith
|
|
|
Consent
of David M. Bovi, P.A.
|
|
Included
in Exhibit 5.1
|
|
|
Power
of Attorney
|
|
Included
on signature page
|
Item 9. Undertakings
The Company hereby undertakes:
(a)(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;
(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 the Registration Statement. Notwithstanding the foregoing,
any increase or decrease in the 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 Commission 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;
(iii)
to
include any material information with respect to the plan of
distribution not previously disclosed in the Registration Statement
or any material change to such information in the Registration
Statement;
provided, however,
that, paragraphs (a)(1)(i)
and (a)(1)(ii) above 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
us pursuant to Section 13 or Section 15(d) of the
Securities Exchange Act of 1934, as amended (the
“Exchange
Act”) that are
incorporated by reference in the 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 hereby which remain unsold at
the termination of the offering.
(b)
The
Company hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the
Company’s annual report pursuant to Section 13(a) or Section
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 the 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 hereof.
(c)
Insofar
as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of
the Company pursuant to the foregoing provisions, or otherwise, the
Company 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 Company of expenses incurred or paid by a
director, officer or controlling person of the Company 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 Company 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 of 1933, 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 Gainesville, State of Florida, on April
29, 2021.
|
SHARPSPRING, INC.
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ Aaron Jackson
|
|
|
|
Aaron Jackson
|
|
|
|
Chief
Financial Officer,
|
|
|
|
Principal
Financial Officer
|
|
KNOW ALL PERSONS BY THESE PRESENTS, that each
individual whose signature appears below hereby constitutes and
appoints each of Richard Carlson, and Aaron Jackson, and each of them severally,
their true and lawful agent, proxy
and attorney-in-fact, with full power of substitution and
resubstitution, for them and in their name, place and stead, in any
and all capacities, to (i) act on, sign and file with the
Securities and Exchange Commission any and all amendments
(including post-effective amendments) to this Registration
Statement together with all schedules and exhibits thereto and any
subsequent Registration Statement filed pursuant to Rule 462(b)
under the Securities Act of 1933, as amended, together with all
schedules and exhibits thereto, (ii) act on, sign and file
such certificates, instruments, agreements and other documents as
may be necessary or appropriate in connection therewith,
(iii) act on and file any supplement to any prospectus
included in this Registration Statement or any such amendment or
any subsequent Registration Statement filed pursuant to Rule 462(b)
under the Securities Act of 1933, as amended, and (iv) take
any and all actions which may be necessary or appropriate in
connection therewith, granting unto such agents, proxies
and attorneys-in-fact, and each of them, full power and
authority to do and perform each and every act and thing necessary
or appropriate to be done, as fully for all intents and purposes as
they might or could do in person, hereby approving, ratifying and
confirming all that such agents, proxies
and attorneys-in-fact or any of their substitutes may
lawfully do or cause to be done by virtue
thereof.
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.
Signature
|
|
Title
|
|
Date
|
/s/ Richard
Carlson
|
|
Chief
Executive Officer, President and Director
|
|
April 29, 2021
|
Richard
Carlson
/s/ Aaron
Jackson
|
|
(Principal
Executive Officer)
Chief
Financial Officer
|
|
April 29, 2021
|
Aaron Jackson
/s/ Steven
A. Huey
|
|
(Principal
Financial and Accounting Officer)
Chair
of the Board of Directors
|
|
April 29, 2021
|
Steven
A. Huey
/s/ David
A. Buckel
|
|
Director
|
|
April 29, 2021
|
David
A. Buckel
/s/ Scott
Stewart Miller, Jr.
|
|
Director
|
|
April 29, 2021
|
Scott
Stewart Miller, Jr.
/s/
Savneet Singh
|
|
Director
|
|
April 29, 2021
|
Savneet Singh
/s/
Jason Costi
|
|
Director
|
|
April 29, 2021
|
Jason Costi
|
|
|
|
|